The results are out. By now, all of us will have assessed our options and decided which papers to take in the December 2007 mix. There are quite a few changes occurring due to the reshuffle and conversions arising from the new ACCA qualification.
For those taking level 2 papers, or rather the Skills module of the Fundamentals level in the new syllabus, the former paper 2.4 gets split into F5 Performance management and F9 Financial management - both being new papers. So for the 47% of students who did not pass 2.1 - the pass rate for June 2007 being 53% - the option now is to take the F5 paper. Similarly, those who did not pass 2.4, the option now is to take paper F9.
The new syllabus also puts the Essential module of the Professional level ahead of the Options module. The offshoot of this variation is that the Essential papers P1, P2 and P3 classes at tuition providers are more than full - as not only the students having taken or at the end of their level 2 papers have signed up for them, but also those students who have completed their option papers. In contrast, the Option module papers are relatively less packed.
I am one of those who will be appearing for both modules - taking classes for P1, P2, P3 and P6 papers. Out of these papers, P1, P3 and P6 (Singapore variant) have new examiners, with P1 being an entirely new paper. It can seem intimidating sometimes to not only take four papers together, but to take one paper with no precedent whatsoever and two papers which have new examiners with different styles.
While there is still an option to exercise choice in the exam paper questions at the professional level, it is wise not to study selectively especially with the new syllabus. The questions at this level tend to be mostly analytical and principle based, so rote learning is not of much use. Though the concepts must be known - forming a good foundation - the emphasis is on the application. How then, must we study?
I find one of the most effective ways to be prepared for the exam, and to know how much one has really take on board, is practicing exam questions. This is particularly important at this level. The more familiar one is with the content and style of questions, the quicker you will be in the actual exam - thus improving time management skills.
ACCA examinations are an uphill climb, but perseverance is the key. When one feels discouraged it is heartening to read and hear from people who have successfully completed them. There may be temporary setbacks along the way but they are not failures, rather - to use a cliché - stepping stones to success.
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