Since I’ve started back studying, I’ve realised many things about myself and what works in my current situation. I’ve also learnt many important ACCA exam lessons which could contribute to my future success in my remaining ACCA exams.
To be honest, I’ve thought about quitting this journey many times. But because the future for Accounting, Finance and Business professional looks blindingly bright, I may keep pushing on.
At this point I’m awaiting results for the ACCA F5 Performance Management exam. This is the second time that I sat the examination. And although I feel more confident than the first sitting, I’m still not sure that I did enough to get over the 50 percent line.
It’s only been six months or so since I started back studying, but I feel as though I’ve been in this game for years. Here are some of the key ACCA exam lessons that I’ve learned just from studying for one examination over two sessions.
1. Focus, Focus, Focus
After I sat the first examination, I realised that I needed to be more focused about my studies. Being focused on the exam, the amount of work that is required and the ability to blank out non-essential activities is absolutely necessary. I was bombarded with work (I switched jobs and the new environment is not cohesive to learning) and that was my biggest regret.
2. Practice More Exam Questions
I started practicing exam questions a bit too late. I’ve preached this before, but yet I did not take my own advice. Exam questions represent the thin line between being prepared and not being prepared for your accounting examinations. You need to understand how to read and understand questions and how to provide the right answers in the time provided. This time I only used BPP, but I will add the other main revision texts by Kaplan, Becker and Emile Woolf.
3. Create an ACCA Exam Boot Camp
The last weekend before the examination I went hard core and indulged in a self-imposed ACCA exam boot camp. I found a quiet place to study, where there were no distractions. When studying at home, there are too many distractions – the fridge, the television and of course, the bed. The exam boot camp was rigid and it made me buckle down and study. I practiced exam questions, reviewed flash cards and syllabus topics. For future exams, I will try to get at least four consecutive ACCA exam boot camps into my schedule.
4. Use the ACCA Student Resources
Do not waste the ACCA student resources that are listed on the ACCA website. It does not matter what exam you are studying. You should download, print or save ALL of the information pertaining to the examination. This includes the syllabus and study guide, past exam papers, examiners’ reports, examiners’ approaches and technical articles. All of this information is free and you are welcome to use all of them.
5. Create Good Study Habits
I think that creating good habits is one of the most important ACCA exam lessons to remember, but it’s one of the most difficult. For previous examinations that I’ve taken, I practiced exam questions every day. However, I was in a different job and my work load was a lot lighter. For those exams, I would wake up at 4 in the morning and study until 6, then I would get ready for work. On evenings I would study for another 3 or four hours and then go to bed. I have not been able to find that rhythm for the ACCA as yet, and I think that my ability to retain information is suffering.
ACCA Exam Lessons
These are only a few of the ACCA exam lessons that I’ve learned. If you’re new to the ACCA, then you should make sure that your heart is really in the course. If you lack engagement, it can and will hurt you more than you think. You will not be motivated to study and you will not be focused on what you have to do.
I’ve found that although the study texts are good, they don’t suit my learning style. This is why I created my own study text that is relatable and provides both the theoretical and practical approach to the ACCA F5 exam. I was not able to complete the text by the September 2017 exam session, so I’m aiming to have it ready by January 2018.
If you’re new to this website and you are interested in studying with me, subscribe now and you will receive a free 3 month ACCA study plan. The plan is for those students who want to take advantage of the four exam sessions per year. This is a warning – it’s an intense study schedule that requires you to study every day without fail.
I also have free flashcards. Instagram is traditionally a picture sharing app, but I use it to share flashcards that I created. So far I’ve uploaded flashcards for the ACCA F5 examination.
Since you’re here, you should also take a look at my posts on:
- ACCA F1 Accountant in Business
- ACCA F2 Management Accounting
- ACCA F3 Financial Accounting
- ACCA F4 Business Law
- ACCA F5 Performance Management
I have “exemptions” from the first three exams and I will take the CBE version of the ACCA F4 exam (global variant) in the next few months. I’ve already completed the Professional Ethics module and I’m working on satisfying the experience record.
Let’s crush the ACCA and get that designation. Always remember – as long as you have that knowledge, experience and those golden letters behind your name, no one can take them from you.