Shah99
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I study accounting and finance at Cardiff uni. But i am worried i will fail all my exams. Even though i'm in year 1, i still want to do well. I need some tips on how to revise because the topics covered in the lecture isn't enough for exam questions. Any feedback appreciated, especially from yr 2 students or above
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notoo
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2 words: The internet
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Shah99
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(Original post by notoo)
2 words: The internet
It's harder to find info like that
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DJKL
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Accountancy itself work through past papers, prepare accounts, cashflows etc. In my view the easiest part to master, just keep doing it and it comes. The memory bit comes re reporting frameworks, understanding how the say requirements of Accounting Standards, Financial Reporting Standards all fit together, including required Companies Acts disclosures. (Always liked the computations hated learning the Standards) You may also want to look at the structure as to why Standards develop both nationally and internationally (Though these days it seems a mess) Also a good bit of work on fair value and impairments as accountancy has certainly lurched this way in recent years.

Computational aspects of tax is in the main similar though re tax cases just read, flash cards. Know section references re key areas like basis of assessment, loss reliefs, loans to participators etc, though where the key areas are for you will no doubt be led by your course, these are just the most common areas.

Business Law some understanding re things like contract, (Offer/acceptance/consensus/void/voidable etc) maybe negligence (depends on course) plus again, learn the cases and become familiar with Companies Acts and other statutes. (If allowed the legislation in exams knowing where to look is key)

Business finance combination of understanding the theories then applying them, things like IRR, NPV ,again do a lot of questions/past papers. No idea re current textbooks but Samuels and Wilkes always had questions at end of each chapter . In addition learn to understand say cost of capital, ratios etc, both how to calculate and what the results signify-experience helps. To extend that knowledge look at theoretical underpinnings, journal articles can assist. (Though some are pretty dense)

For audit it tends to be more theory than application, legal structure, case law, concepts like materiality, types of testing etc.

My studying days are a long time ago but I found that working through the examples/questions was by far the easiest way to learn, so that when asked to produce a set of accounts with notes( P & L , Balance Sheet and Statement of Source and Application in my day) you could see the layout in your head.

What level is required, I did not do an full accountancy degree (Covered by 1 year PG and then apprenticeship) so I really cannot comment re what level expected re first year university.
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Shah99
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(Original post by DJKL)
Accountancy itself work through past papers, prepare accounts, cashflows etc. In my view the easiest part to master, just keep doing it and it comes. The memory bit comes re reporting frameworks, understanding how the say requirements of Accounting Standards, Financial Reporting Standards all fit together, including required Companies Acts disclosures. (Always liked the computations hated learning the Standards) You may also want to look at the structure as to why Standards develop both nationally and internationally (Though these days it seems a mess) Also a good bit of work on fair value and impairments as accountancy has certainly lurched this way in recent years.

Computational aspects of tax is in the main similar though re tax cases just read, flash cards. Know section references re key areas like basis of assessment, loss reliefs, loans to participators etc, though where the key areas are for you will no doubt be led by your course, these are just the most common areas.

Business Law some understanding re things like contract, (Offer/acceptance/consensus/void/voidable etc) maybe negligence (depends on course) plus again, learn the cases and become familiar with Companies Acts and other statutes. (If allowed the legislation in exams knowing where to look is key)

Business finance combination of understanding the theories then applying them, things like IRR, NPV ,again do a lot of questions/past papers. No idea re current textbooks but Samuels and Wilkes always had questions at end of each chapter . In addition learn to understand say cost of capital, ratios etc, both how to calculate and what the results signify-experience helps. To extend that knowledge look at theoretical underpinnings, journal articles can assist. (Though some are pretty dense)

For audit it tends to be more theory than application, legal structure, case law, concepts like materiality, types of testing etc.

My studying days are a long time ago but I found that working through the examples/questions was by far the easiest way to learn, so that when asked to produce a set of accounts with notes( P & L , Balance Sheet and Statement of Source and Application in my day) you could see the layout in your head.

What level is required, I did not do an full accountancy degree (Covered by 1 year PG and then apprenticeship) so I really cannot comment re what level expected re first year university.
Much appreciated. Thanks
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