Hey there! Sign in to join this conversationNew here? Join for free

Hello , just failed an exam (second in a row) Watch

Announcements
    • Thread Starter
    Offline

    0
    ReputationRep:
    Hello,

    I got results for Tax Compliance paper and I failed it, and I have been upset ever since (Friday), I got my first fail back in October, in Audit and Assurance, I have never failed back in college, hold a bachelor degree in accounting.

    So I don't know what am I doing wrong, can you please help me.

    I was suppose to do Financial Accounting & Reporting exam on 7th of March, but pulled it out, thought to give myself sometime to process all this, and just spoke to my employer about having a two months of unpaid leave, from April to June, thought to focus on Financial Accounting & Reporting in those two months and hope to pass it on June.

    I just don't know what am I doing wrong, I don't study daily, only study when on leave, usually between 3 to 5 weeks of leave before an exam. So I don't know what to do, how can I remove this ache, on my first failure I removed it by focusing on my next module, and passing it, but I failed my next module too, so I'm back to where I am, and focusing on Financial Accounting & Reporting is not removing the ache, I guess I'm afraid I'm gonna fail again, don't know what I am doing wrong, don't know even if you will be able to help, just want to speak out a little.

    Was anyone in similar situation? What helps? Is two months for Financial Accounting & Reporting enough? Any tips? Any advices? Please
    Offline

    1
    ReputationRep:
    (Original post by metropolissteel)
    Hello,

    I got results for Tax Compliance paper and I failed it, and I have been upset ever since (Friday), I got my first fail back in October, in Audit and Assurance, I have never failed back in college, hold a bachelor degree in accounting.

    So I don't know what am I doing wrong, can you please help me.

    I was suppose to do Financial Accounting & Reporting exam on 7th of March, but pulled it out, thought to give myself sometime to process all this, and just spoke to my employer about having a two months of unpaid leave, from April to June, thought to focus on Financial Accounting & Reporting in those two months and hope to pass it on June.

    I just don't know what am I doing wrong, I don't study daily, only study when on leave, usually between 3 to 5 weeks of leave before an exam. So I don't know what to do, how can I remove this ache, on my first failure I removed it by focusing on my next module, and passing it, but I failed my next module too, so I'm back to where I am, and focusing on Financial Accounting & Reporting is not removing the ache, I guess I'm afraid I'm gonna fail again, don't know what I am doing wrong, don't know even if you will be able to help, just want to speak out a little.

    Was anyone in similar situation? What helps? Is two months for Financial Accounting & Reporting enough? Any tips? Any advices? Please
    Look at the way you are studying, is it effective?

    Only studying on leave seems quite short, you should be studying at least 15 hours a week whilst on the course, the amount of time that you put in really pays dividends.

    How many questions did you complete in the QB? Did you do every question at least once?

    Have you understood all the topics correctly and understood the answers to the questions?

    How many questions do you ask the tutor, if you havent asked any is this because you understand all the topics or simply choose to not understand?

    You need to evaluate your method of study and maybe put more hours in, everyone is different, but if this is the second you have failed, you should put together some lessons learnt and apply those next time round.
    Offline

    17
    ReputationRep:
    Do study throughout not just before exams, you want to understand as well as remember, short burst learning tends to stick for a limited time only.

    Presume this is ICAEW of which I know nothing re content/format but as nobody else has answered I offer my ten pence worth which will likely be nonsense from the perspective of the actual exams you are sitting, hopefully someone who has taken the exams will come along and correct everything following.

    The old ICAS exams from the 1980s needed answers structured and framed as the Institute expected, knowing the subject was not enough, and doing a memory dump on paper was a very bad idea; the bit I found difficult post university was making the answers short, sweet and on point, no rambling essays (Literary flair needed curtailed) so you need to unlearn the approach you adopted at university. The way to get answers that were fit for purpose was to try lots of questions and look carefully at the model answers (assuming these are narrative exams and not multiple choice or similar, as I said no idea how ICAEW tests these two subjects) Practise, practise more practise.

    Now I cannot comment on Tax Compliance as I did not have that as a distinct paper,Ii just had Taxation 1 then Taxation 2 then the TPC in final year which pulled in aspects from all the first two years, our tax papers were distinctly more computational the compliance parts re say TMA 1970 were covered but not as a distinct paper.

    Auditing (as ours was called) was a different beast, the actual practice of doing auditing was not applied re testing processes (System notes, walk through tests, compliance test and analytical review) the exams more covered the role, the audit planning process, materiality, auditor responsibilities- very tedious and the work I did throughout my apprenticeship had little bearing as these roles were more done by audit seniors/audit managers, so the trick was work out what the examiner wants, how he wants it and then deliver to that standard. So past papers/model answers/course note examples were the order of the day. (ICAS did its own training so did not have the training firms like the other institutes, we were issued with the course handouts by our institute)

    I note ICAEW has for registered parties some available study support paperwork on its website (cannot see it as not a member) , I think you may want to look at this/similar.

    I tended to work in the evenings and on the train home about 2 hours a night plus more at weekends and of course on study break/ block release, you may not be doing enough hours-nobody said it was easy to do a job and study, the key with professional exams is not that the subjects are in themselves difficult, imho university was more academically challenging but you have more time to get through what is needed, professional exams need different skills and time management is crucial.

    Do not get dispirited, when I sat mine you had to pass all paper re part 1 in one go, fail one fail all (unless you got a referral in one paper) and something like 65% failed at first sitting, the secret is just to try harder and smarter and once they are all over you have a life on endless CPD.

    Edit: in the time I took writing someone has now answered.
    Offline

    19
    ReputationRep:
    You're like the groundskeeper who, when deciding how often to water his plants, consults a sprawling astrological chart and then, after the entire garden has rotted into the ground, asks: "Should I have used a bigger can?"

    With respect, if you actually understand what's being asked of you and have committed the requisite information to memory; how can you possibly fail?
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by Raju786)
    Look at the way you are studying, is it effective?

    Only studying on leave seems quite short, you should be studying at least 15 hours a week whilst on the course, the amount of time that you put in really pays dividends.

    How many questions did you complete in the QB? Did you do every question at least once?

    Have you understood all the topics correctly and understood the answers to the questions?

    How many questions do you ask the tutor, if you havent asked any is this because you understand all the topics or simply choose to not understand?

    You need to evaluate your method of study and maybe put more hours in, everyone is different, but if this is the second you have failed, you should put together some lessons learnt and apply those next time round.
    if I study for 15 hours a week, would that make me be able to pass? I would've studied daily but I spend 5 hours a day just driving from home to work and back, so that's 25 hours a week (excluding weekends, that's when my classes start). but I am willing to push myself a little bit further if that 15 hours can get me a pass.

    no, I didn't complete all questions, but I did understand every question, so for example if I did question A, and then I got another question who's requirement is similar to question A, I would skip it, so I was basically focusing on doing different questions so that I won't get surprised in the exams, but I did get surprised at the end.

    I think I did understand every question and how it works.

    no I don't ask the tutor, I just tell myself when I come to practicing I will understand it myself.

    I am trying to evaluate it, and willing to change few things to get one pass, I think that's all I am missing, one pass can motivate me, and like you said everyone is different, and I just need to find what works for me, and I wish to do it faster before failing again.

    I was feeling down a lot, and then I spoke to the tuition providers, I felt a little better, because they tell me encouraging words, and they believe in me, so I just need to believe in myself, and have a new approach to my studying style.
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by DJKL)
    Do study throughout not just before exams, you want to understand as well as remember, short burst learning tends to stick for a limited time only.

    Presume this is ICAEW of which I know nothing re content/format but as nobody else has answered I offer my ten pence worth which will likely be nonsense from the perspective of the actual exams you are sitting, hopefully someone who has taken the exams will come along and correct everything following.

    The old ICAS exams from the 1980s needed answers structured and framed as the Institute expected, knowing the subject was not enough, and doing a memory dump on paper was a very bad idea; the bit I found difficult post university was making the answers short, sweet and on point, no rambling essays (Literary flair needed curtailed) so you need to unlearn the approach you adopted at university. The way to get answers that were fit for purpose was to try lots of questions and look carefully at the model answers (assuming these are narrative exams and not multiple choice or similar, as I said no idea how ICAEW tests these two subjects) Practise, practise more practise.

    Now I cannot comment on Tax Compliance as I did not have that as a distinct paper,Ii just had Taxation 1 then Taxation 2 then the TPC in final year which pulled in aspects from all the first two years, our tax papers were distinctly more computational the compliance parts re say TMA 1970 were covered but not as a distinct paper.

    Auditing (as ours was called) was a different beast, the actual practice of doing auditing was not applied re testing processes (System notes, walk through tests, compliance test and analytical review) the exams more covered the role, the audit planning process, materiality, auditor responsibilities- very tedious and the work I did throughout my apprenticeship had little bearing as these roles were more done by audit seniors/audit managers, so the trick was work out what the examiner wants, how he wants it and then deliver to that standard. So past papers/model answers/course note examples were the order of the day. (ICAS did its own training so did not have the training firms like the other institutes, we were issued with the course handouts by our institute)

    I note ICAEW has for registered parties some available study support paperwork on its website (cannot see it as not a member) , I think you may want to look at this/similar.

    I tended to work in the evenings and on the train home about 2 hours a night plus more at weekends and of course on study break/ block release, you may not be doing enough hours-nobody said it was easy to do a job and study, the key with professional exams is not that the subjects are in themselves difficult, imho university was more academically challenging but you have more time to get through what is needed, professional exams need different skills and time management is crucial.

    Do not get dispirited, when I sat mine you had to pass all paper re part 1 in one go, fail one fail all (unless you got a referral in one paper) and something like 65% failed at first sitting, the secret is just to try harder and smarter and once they are all over you have a life on endless CPD.

    Edit: in the time I took writing someone has now answered.

    I think a lot of what you said, is VERY relevant, so thanks for everything.

    I panic a lot, and I tend to forget a lot, I told my friend, if only I remembered that part of the question, I could've passed (which is a part, that I knew how to do couple of days from the exam).

    so I have a lot of problems, and I think I need to understand myself, and work with myself, and do what works for me.

    university was filled with MCQs, and if there was a written question, I would skip it because I have already got the pass from all MCQs, but ICAEW papers, excluding CFAB level, is all written papers, which is again, making me lose my brain out, I know I need to practice more on my writing and presentation skills, which my teachers keep telling me.

    I have really good teachers, they really make a lot of questions look very easy. so I just need to work smarter, like you said, I need that time management skills, and I need to know how much of my time is required for each exam, and I will do my best to give it that amount of time and maybe 10% extra.

    I think I will try harder for my next exam, I just hope it won't be a fail. just want one pass that's all, and then I think if I failed after one pass, I wouldn't mind it that much, because I know whatever I was doing, it was right, the exam was just hard for me, then I guess I won't blame myself that much and go to the depressing zone, which is what those two failures have caused to me.
    • PS Helper
    Offline

    2
    ReputationRep:
    How did the actual exam go? Were you close to pass mark and did you complete all questions?
    Offline

    15
    ReputationRep:
    (Original post by metropolissteel)
    I think a lot of what you said, is VERY relevant, so thanks for everything.

    I panic a lot, and I tend to forget a lot, I told my friend, if only I remembered that part of the question, I could've passed (which is a part, that I knew how to do couple of days from the exam).

    so I have a lot of problems, and I think I need to understand myself, and work with myself, and do what works for me.

    university was filled with MCQs, and if there was a written question, I would skip it because I have already got the pass from all MCQs, but ICAEW papers, excluding CFAB level, is all written papers, which is again, making me lose my brain out, I know I need to practice more on my writing and presentation skills, which my teachers keep telling me.

    I have really good teachers, they really make a lot of questions look very easy. so I just need to work smarter, like you said, I need that time management skills, and I need to know how much of my time is required for each exam, and I will do my best to give it that amount of time and maybe 10% extra.

    I think I will try harder for my next exam, I just hope it won't be a fail. just want one pass that's all, and then I think if I failed after one pass, I wouldn't mind it that much, because I know whatever I was doing, it was right, the exam was just hard for me, then I guess I won't blame myself that much and go to the depressing zone, which is what those two failures have caused to me.
    What university did you go to that 1. had a degree full of MCQs and 2. allowed students to pass based on MCQs alone?
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Break up or unrequited love?
    Useful resources

    Articles:

    Guide to finance and bankingGuide to accountancy

    Featured recruiter profiles:

    Deutsche Bank logo

    Deutsche Bank is recruiting

    "Thrive in an international banking environment"

    ICAEW logo

    ICAEW

    "Choose a career journey with limitless possibilities."

    Quick link:

    Unanswered finance and accountancy threads

    Groups associated with this forum:

    View associated groups
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.