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study skills

start as you mean to go on

There is more to success than being smart and working hard, so Student Accountant shares some effective study skills
eveloping the right study skills can make the difference between success and failure, whether you are working towards sitting your first CAT paper or the last exam for the ACCA Qualification. The key to passing exams is not always being the most intelligent or having the most work experience, it is the planning and preparation you put in, and the timing of this, advises Nathalie Dimond, tax tutor, ReedLearning. Without good study habits and techniques you may never reach your full potential; with them youcanmaximise your results with the minimum amount of studying time. Buthow do you achieve this miracle? By ensuring regular time spent working effectively, she advises, and working smarter, not harder. When Dimond was an ACCA student she created a personal schedule that prioritised her studies. I used to study for onehour before work, and then on Monday, Tuesday and Thursday nights, she says, as well as trying to fit an early morning study session in on Saturday, and one on Sunday afternoon. Successful self-study student Ahmadshah Meraj is also big on planning, and working smarter, not harder (see Succesful self-study panel on page 27); likewise Dianne Ramdeen. I had a part-time job while I was studying, so I tried to get the maximum

without good study habits and techniques you may never reach your full potential; with them you can maximise your results with the minimum amount of studying time.
from each class I attended, by doing most of my learning while I was there, she explains, and with the right attitude, you too can get the best from any classes or online tutorials youtake. Participate, suggests Gladys Shaw, director of student support services at the University of Texas at El Paso, and dont be afraid to ask questions if you dont understand. Most teachers will be happy to provide clarification. Participation improves your attention, she says, and if speaking out makes you uncomfortable, try to persevere, as she adds: It gets easier with practice. Also try to engage with the tutor, by thinking about what they are saying, particularly before writing it down. Take notes, but dont waste time trying to get every word. If you can reorganise what the teacher says in your mind, before making your notes, they should make a lot more sense when you later review them. Be prepared As being well prepared helps you to get more from classes, its also a good discipline to develop. Students who are well organised have an advantage over those who are not, reports Andy Wright FCCA, a tutor and the ACCA course director at the London School of Business and Finance. So if you do not want to fall behind, or fail to give your best, always have the necessary tools and textbooks, and take personal responsibility for finding out about the course you are studying. How long is it? How many classes are there? Do you have a copy of the course outline, syllabus and study schedule? If you know whats coming up, you can anticipate what you are going to be learning, says Wright, and do some studying beforeclass. If there is assigned reading, try to complete this and take a structured approach to it. Check the contents first, and if there are chapter summaries, read these first. If you dont understand something, highlight it, and make notes on what you have highlighted so that you can follow-up with questions in class. Even if you dont read the texts thoroughly, or you struggle to understand the material, you will be consolidating and building on what you do know in class, which will improve

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your retention when you later re-read the material. Try to spend five or 10 minutes thinking about the subject matter immediately before class, and read through your notes, to refresh yourmemory. Some ways of working through your study texts are more effective than others. Take a chapter and pick out the main sections, says Dimond. Read each section once to get an overview, and write down the heading and a brief (two sentence) description. Then go through the detail, ensuring you understand what is being explained in each point, she adds, and add to your notes any formulas or specific methods that you need to remember. Now you can work through any examples you are given, she says, for each section of the chapter, before doing the recommended questions. If a subject is worked correctly to start with, revision will be a short and easy process, she says. Know yourself As we do not all learn equally effectively using the same approaches, it helps to favour the sort of learning style that favours you (see How do you learn panel on page 28). If you relate well to pictures and diagrams you may learn best with mind maps, flip charts, spider diagrams and so on. If you learn most effectively through sound, try listening you can record your own notes and listen to them whenever the opportunity presents itself. If youre a handson sort of person, you may achieve more by working interactively with a study partner or group; explaining

concepts to others and checking their understanding can help to reinforce the knowledge in your ownmind. However, despite these and many other variations in learning styles, there are some aspects of the way we learn that are fundamental to everyone, and understanding this can also do wonders for your capacity to absorb and retain information. The brain works best by looking at a subject and then reviewing this subject within 24 hours, then within one week, and then again within three weeks, says Dimond. According to research, if you do not take this approach, 70% of what you learn today will be forgotten within 24 hours; if you do take this approach, and review and revisit your study material, you can improve your recollection by as much as 400%. To exploit this, you will need to carefully plan your studies and revision, and draw up a schedule. I planned my preparation in my head, says student Meraj (see Successful self-study panel, right), but most people will need the support of awritten chart or aspreadsheet. Start by taking the exam date and working backwards, allowing two or three weeks for revision and question practice, suggests Dimond, then count the number of weeks between now and the start of the revision period. This will give you the time you have to study, she adds, so divide it between each of your subjects, decide when you are going to study and for how long, and draw up a schedule. Keep it updated to reflect the new material you need to review, and you are off on the road tosuccess.

successful self-study The self-study route to the ACCA Qualification is not easy, though Ahmadshah Meraj may make it seem that way. My approach to studying has helped me pass two papers per session, from December 2008, says the student, who studied while working as an IT engineer, at the Jahaan Technology Corporation in Afghanistan. So what is the secret of his success? Planning is key, says Meraj. Assess the overall time required for preparation, andthen make a schedule or calendar, stating days on which you want to prepare, he advises, and update it as required. Structuring his schedule and his approach to his studies, practice questions and revision, has helped him to get the most from the time he spent studying. Meraj also made good use of the ACCA website. I read and downloaded all of the resources available on the site, he says, including the syllabus, examiners reports, examiners approach articles, and past exam papers. They help you to understand the content and structure of the exams, and provide useful insights on how to tackle questions, making sure you understand what is required, he says. They also explain common pitfalls and may give clues on expectations for the next session. Its an approach that has served him well. I recently found out that I had passed my final exam, he says, and Im now looking at achieving membership.

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study skills

GOOD STUDY HABITS AND BAD STUDY HABITS Do Prioritise. Draw up a schedule: make a list of what you need to study, when you intend to do this, and try to stick to it. Be prepared. Have your books, notes and everything else you need to study organised, and ready, before you begin. Make time. Viewing study sessions in terms of completing a task, not a period of time, will help you to work more efficiently and effectively. Take breaks. Move about every half hour or so. Get a breath of fresh air, a drink of iced water, or both, to increase your energy and concentration levels. Zone out. Major revision requires a quiet and comfortable study space; bitesized sessions (of five or 10 minutes) can take place almost anywhere. Dont Start studying within 30 minutes of eating or sleeping, or when you are tired. You will be unable to focus. Avoid your weaker areas. It is better to allocate extra time to working on improving them. Get distracted. Dont sit staring into space, or listen to friends telling you not to work too hard. Reward yourself until you deserve it. Cups of tea, texts, phone calls until youhave reached your goal. Try to do too much. Studying for longer than 30 or 40 minutes without a break iscounterproductive.

Once you know which learning style works best for you, you can get the most from your study time by adopting the style or styles that help you to learn most effectively.

how do you learn? There are a number of different learning styles, and understanding them can help you to learn more effectively. Visual learners tend to think in pictures, and find note-taking helps them to absorb information. Auditory learners prefer to hear information, and learn by talking things through with others. Tactile learners prefer a more hands-on approach, and learn by participating and doing. Other learning styles include logical, social and solitary learning, and although some learners tend towards one style over all of the others, others vary their approach depending on the circumstances. You can learn more about different styles of learning by reading the article in the February 2010 issue of Student Accountant and by visiting specialist sites such as www.educationatlas.com/ studentlearningstyles.html. If you do not immediately recognise your particular learning style, or styles, or you would like more guidance, you can sit an online test at sites such as: www.2learn.org/learningstyles.html www.vark-learn.com/english/ page.asp?p=questionnaire www.brainboxx.co.uk/a3_aspects/ pages/VAK_quest.htm Once you know what works best for you, you can get the most from your study time by adopting the styles that help you to learn most effectively.

technical
all you need to know
Articles on key examinable topics to support your studies

30 technical articles
Relevant to ACCA and CAT Qualification papers

the strategic use of it

Relevant to ACCA Qualification Paper P3

inheritance tax

exam technique

Relevant to ACCA Qualification Paper P2

Relevant to ACCA Qualification Paper F6 (UK) from the June2011 exam session onwards

personal reliefs

Relevant to ACCA Qualification Paper F6 (MYS)

Credit policy

Relevant to CAT qualificationPaper 10

foundations in accountancy

Learn more about ACCAs new suite of entry-level qualifications Foundations in Accountancy at www.accaglobal.com/fia

student accountant technical archive

www.accaglobal.com/students/student_accountant/archive/

changes to the acca qualification from june 2011

Read more at www.accaglobal.com/students/student_accountant/ archive/2010/108/3333957

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technical

technical articles
20 october 2010 relevant to ACCA and cat qualification papers
personal reliefs acca qualification technicalarticles the strategic use of it
relevant to ACCA qualification Paper p3 When analysing or advising on the use of IT by businesses you should always try to make use of theories, models or frameworks. The article starts with a brief revision of each of these models, then it will look at some reallife examples of how companies have employed IT, relating their use back to models as appropriate. Access resources relevant to Paper p3 www.accaglobal.com/students/acca/ exams/p3 relevant to ACCA qualification Paper F6 (MYS) Personal reliefs are a significant factor in determining the difference in chargeable income between a resident and non-resident individual. The basic reliefs are generally outlined in the question paper and, therefore, this ar ticle is intended to clarify the mechanics of claiming the reliefs. Access resources relevant to Paper F6 www.accaglobal.com/students/acca/ exams/f6/ Paper F1 www.accaglobal.com/students/acca/ exams/f1/technical_articles/ Paper F2 www.accaglobal.com/students/acca/ exams/f2/technical_articles/ Paper F3 www.accaglobal.com/students/acca/ exams/f3/technical_articles/ Paper F4 www.accaglobal.com/students/acca/ exams/f4/technical_articles/ Paper F5 www.accaglobal.com/students/acca/ exams/f5/technical_articles/ Paper F6 www.accaglobal.com/students/acca/ exams/f6/technical_articles/ Paper F7 www.accaglobal.com/students/acca/ exams/f7/technical_articles/ Paper F8 www.accaglobal.com/students/acca/ exams/f8/technical_articles/ Paper F9 www.accaglobal.com/students/acca/ exams/f9/technical_articles/ Paper P1 www.accaglobal.com/students/acca/ exams/p1/technical_articles/ Paper P2 www.accaglobal.com/students/acca/ exams/p2/technical_articles/

exam technique

inheritance tax

relevant to ACCA qualification Paper p2 The article focuses on issues of poor exam technique that show themselves repeatedly in the answers students submit for Paper P2 each sitting. Access resources relevant to Paper p2 www.accaglobal.com/students/acca/ exams/p2

relevant to ACCA qualification Paper f6 (UK) from the june 2011 exam session onwards From the June 2011 sitting onwards a basic understanding of inheritance tax has been added to the Paper F6 (UK) syllabus. This article, the first in two-part series, covers those aspects of inheritance tax that you will need toknow. Access resources relevant to Paper F6 www.accaglobal.com/students/acca/ exams/f6/

credit policy

relevant to cat qualification paper 10 A discussion on calculations involving a change in receivables collection or payables payment policy Access resources relevant to catpaper 10 www.accaglobal.com/students/cat/ exams/t10/

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Paper P3 www.accaglobal.com/students/acca/ exams/p3/technical_articles/ Paper P4 www.accaglobal.com/students/acca/ exams/p4/technical_articles/ Paper P5 www.accaglobal.com/students/acca/ exams/p5/technical_articles/ Paper P6 www.accaglobal.com/students/acca/ exams/p6/technical_articles/ Paper P7 www.accaglobal.com/students/acca/ exams/p7/technical_articles/

Paper 3 www.accaglobal.com/students/cat/ exams/t3/tech_articles/ Paper 4 www.accaglobal.com/students/cat/ exams/t4/tech_articles/ Paper 5 www.accaglobal.com/students/cat/ exams/t5/tech_articles/ Paper 6 www.accaglobal.com/students/cat/ exams/t6/tech_articles/ Paper 7 www.accaglobal.com/students/cat/ exams/t7/tech_articles/ Paper 8 www.accaglobal.com/students/cat/ exams/t8/tech_articles/ Paper 9 www.accaglobal.com/students/cat/ exams/t9/tech_articles/ Paper 10 www.accaglobal.com/students/cat/ exams/t10/tech_articles/

changes to the acca qualification from june 2011

Read more at www. accaglobal.com/students/ student_accountant/ archive/2010/108/3333957

cat qualification technicalarticles

Paper 1 www.accaglobal.com/students/cat/ exams/t1/tech_articles/ Paper 2 www.accaglobal.com/students/cat/ exams/t2/tech_articles/

Learn more about ACCAs new suite of entry-level qualifications Foundations in Accountancy at www.accaglobal. com/fia

foundations inaccountancy

resources
www.acca global.com/ students/acca www.acca global.com/ students/ cat

ACCA is committed to providing support to all its students. Examiner reports, examiner interviews and a wide variety of technical articles are available in a range of different mediaon the ACCA website at www.accaglobal.com/students/ Access the Student Accountant technicalarticle archive at www.accaglobal.com/students/ student_accountant/archive/

ACCA online study resources

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technical

exam support
ACCA is committed to providing support to all its students. As part of this support, a range of materials ina variety of media to reach as many students as possible is available specifically to address the ACCA Qualification exams. Information from ACCAs examiners including examiner reports, examiner interviews and a wide variety of technical articles are available in a range of different media on the ACCA website. The two sets of examiner interviews are available on accaglobal.com andare extremely valuable resources. Each set of interviews can help youprepare for your exams in different ways and, when used in conjunction with the paper resources available, they can make a big difference to yourstudies. Examiners approach interviews The examiners approach interviews are very useful when you are undertaking a particular paper for the first time, giving you a real insight into what examiners are looking for in terms of exam performance. They cover the main themes of each paper and give information on the style of the exams and how they are structured. They also advise on examtechnique, with tips on how to succeed and potential pitfalls toavoid. The examiners approach interviews complement the examiners approach articles, which were written to giveguidance on how to tackle each exampaper. These resources contain similar information but the difference indelivery method can be a useful advantage when studying and may give you a better chance of absorbing the examiners advice. The examiners

examiners approach and examiners analysis interviews

acca is committed to providing support to all its students. examiner reports, examiner interviews, exam notes (which provide guidance on examinable material including relevant accounting and auditing documents for Papers f3, f7 and P2) and a wide variety of technical articles are available in a range of different media on the acca website at www.accaglobal.com/students/acca/exams
approach interviews also contain usefullinks to other relevant resources for your exam. Examiners analysis interviews The examiners analysis interviews build on the examiners approach interviews. They highlight where students areperforming well, where students are performing less well, and give advice on how students can improve performance in problem areas. Its never too soon to start listening to the examiners analysis interviews, but they would probably be most useful once you have covered the syllabus and are starting to think about the detail of a paper and how to apply what you have learned in the exam. They are designed to give guidance around which areas of the syllabus students have been struggling with in recent exam sittings and how students can tackle the difficulties others havebeenhaving. The analysis interviews are closelyrelated to the examiners reports, which are published after each examsession. They bring together theexaminers reports from the first three sessions of the ACCA Qualification, illustrating that some mistakes are being repeated consistently and highlighting critical areas of the syllabus to focus on. Remember, this does not mean one of those areas will necessarily be examinable in the next session. These interviews were produced in February 2009 and are valid until December 2010 areas flagged as critical could, therefore, be examined at any point during this period of time. It is still very important to make use of the individual examiners reports available in Student Accountant and on the ACCA website, as well as listening to the analysis interviews. After you have worked through a practice question, refer to the relevant examiners report and you will find an analysis of that question, what the examiner is looking for in a good answer, typical answers given by students, why they might not be relevant and so on. All of these resources and others such as the Syllabus and Study Guide,past papers, examinable documents and technical articles can be accessed at www.accaglobal.com/ students/acca/exams/