It is indeed very important to be comfortable very much with your financial reporting studies because these are likely to be drawn upon by the scenario-based questions in Sections A and B of this paper. It also require knowledge from Exam F7 Financial Reporting and Paper SBL. The P7 study syllabus assumes the knowledge provided by F8 Audit and Assurance.
These are marks assigned not by the content of an answer, but by the degree of professionalism that with which certain parts of the response are presented.
Gaining professional marks in AAAĪs P7 is a Professional exam, four professional-level marks will therefore be awarded in a Section A question. Present your answers in a professional manner: there are between approximately four and six professional qualifications available to establish the answers correctly.Ĭarefully consider the requirement of the question to answer the actual set of questions.Īnswer plans will help you focus on the requirements of the provided question and allow you to manage your time indeed.Īnswer the question you feel most comfortable with first: it will help you calm down if you feel You have given answered the first question well. It is unlikely that the answers that simply regurgitate the texts get a high score. The questions in Section A will be the type of case study question: be sure to match your answers to the scene instead of being generic. The practice and review kit contains numerous standard exam questions (many of them actually taken from previous exams), as well as three simulated exams for you to try. Use the question bank at the end of this text. Practice the questions as many as you can in timed conditions: this is the actually best way to develop a good exam technique. It is possible for you to develop application skills by trying to solve questions in the Exam Question Bank and then in the Learning Media Practice and Review Kit. Read Student Accountant regularly (ACCA student magazine): it often contains technical articles written by or someone else on behalf and on the recommendation of the exam team that may be invaluable for future exams, especially since they tend to focus on examinable areas of the syllabus. Read the financial statement and relevant websites to get accounting knowledge and audit opinion and to see real-life examples: the exam team is specifically looking for evidence of wider reading. The points on them will have more vital and depth than a series of single-line bullets. Good responses will have to focus on the details of the scenario and highlight the underlying issues related to the scenario. However, the exam team has emphasized that passing an exam is not at all a matter/question of learning and reproducing lists.
Lists are also sometimes the safe and clearest way to present information. This is inevitable because technical guidance often comes as a list. There are quite a few lists in the ACCA Advanced Audit and Assurance AAA Texts. The detection of questions at this level is imprudent and not recommended. Your approach to advanced audit should be different from F8 because you are a professional accountant now and you’ve pass SBR that will help you. In addition, attempting AAA, the questions in Section B may focus on several areas of the syllabus, so if you have not studied the entire syllabus, you may not be able to answer any of the questions in Section B as a whole. Although Section B of the exam contains an optional part, the two questions provided in Section A are mandatory and could cover a variety of topics throughout the syllabus.
Study the whole syllabus and learn planning an audit, audit working. The exam is based on the topics covered in F8 Audit and Assurance, but as an advanced exam, it demonstrates much more than your knowledge of ISAs and your ability to list standard audit procedures. The objective of the syllabus is to analyze, evaluate, and conclude on the commitment of assurance engagement and the other audit and assurance matters in the context of current best practices and developments.