As dusk approaches and the last day of (Bohra) Eid-ul-adha disappears into the sunset, I am finally getting set to begin my final preparation for P2 and E2 after almost a four-day stretch of preparing for my weakest paper (F2). Having taken a look over the May 2010 paper (another touch-and-go proposition), there is not much change in the existing strategy, though the pressing need for additional preparation continues to haunt me. The final preparation list is as follows, which will probably take place once I have given in the P2 paper on the final eve and day-time hours before the paper, hopefully armed with the revision kit and some clarified concepts: For the main bulk of the paper: 1. Understand clearly the requirements for subsidiaries, associates and joint ventures: when to consolidate fully/ partially and use equity accounting for consolidation of financial statements including SOCI, CSCIE, CSOFP and CCFS with crystal clear concepts relating to extent of ownership based on ...
Contrary to what I had in mind, IELTS did not become history as early as I would have liked. I still have to deal with clearing the English Language requirements because for all my linguistic brilliance, I messed up in the writing section last time - falling short of the word limit in the second part of the test, having taken up most of my time in the first task. This was very reckless and irresponsible because: 1. IELTS information material clearly stated that falling short of the word limit in the writing section would be a costly mistake. 2. My exam strategy couldn't have been any worse - the second part of the test was worth twice the marks than the first part, but I managed to allocate only half as much time as I took in the first part. Falling short by half a band in this section means that I have to go through the whole process and empty my pockets once again. However, some consolation comes from the fact that my targeted accounting body for migration assessment (ICAA) does...
Unfortunately, not everyone has the luxury of time. Sometimes, time is spent planning and procrastinating as well, and then every hour is worth approximately an average of 40 times as much just before an examination. The 40 times calculation is obviously a result of my now-more-analytical mindset, after going through the physics of cost accounting examinations. You see, it took me an average of 6 to 8 hours for a single chapter at the beginning of my study schedule – this soon became an average of 6 to 8 chapters in a single hour by the end of it. And that’s just the theory part of it. Not practicing is a recipe for disaster – practice is usually the main ingredient of a successful study program, which is why there was a lot of time spent improvising during the examination. Maybe I should wait till mid-July when the results are out to blog about it, but I need to note some important lessons from the three nights and days of the exam - specifically, the CIMA Operational Level papers: E1...
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