⭐️ HOW TO PASS ACCA FR (F7) WITH A MARK OF 80%! ⭐️ | ACCA Financial Reporting Exam | ACCA F7

Summary

In this informative video, Danielle shares her successful strategy for achieving an 80 on her ACCA F7 Financial Reporting exam. She emphasizes the importance of question practice, using the Kaplan exam kit and ACCA's practice platform, and the value of self-marking with strictness. Danielle also discusses the significance of reading examiner reports to identify common mistakes and areas of weakness. She offers practical advice on creating a study plan, taking breaks, and maintaining a study-life balance, while also highlighting the benefits of changing study environments and the importance of sleep.

Takeaways

• 📚 Focus on question practice is crucial for passing the Financial Reporting (FR) exam with a high score.
• 👩‍🎓 Danielle, who scored 80% on her FR exam, emphasizes the importance of practicing consolidation and single entity accounts.
• 🗂️ Utilize examiner reports to understand common mistakes and areas where students typically struggle.
• 📝 Practice consistently and repeatedly to build familiarity with the types of questions that appear on the exam.
• 🔄 Pay attention to eliminating inter-company transactions in consolidation, as this is a common error.
• 🖥️ Use the ACCA practice platform for mock exams and self-marking to gauge your performance and identify weak areas.
• 📅 Create a study plan that allocates sufficient time for each topic and includes regular breaks to avoid burnout.
• 💡 Read summary notes and technical articles to reinforce your understanding before attempting related questions.
• 🏫 Consider studying in different environments, like libraries, to stay focused and motivated.
• 🌟 Stay confident, take breaks when needed, and maintain a balanced approach to studying to achieve success.

Q & A

Who is Danielle and what did she achieve on her FR exam?

Danielle is a student based in Aberdeen, Scotland, who is currently going through the ACCA qualification. She achieved a score of 80 on her FR (Financial Reporting) exam, which is also known as the F7 paper in the ACCA syllabus.

What is Danielle's key strategy for passing her ACCA exams?

Danielle's key strategy is question practice. She emphasizes the importance of repetition and focusing on areas where students typically struggle, as identified in examiner reports.

How does Danielle manage to study while working full-time?

Danielle studies in the evenings and during her study leave, which she gets from her traineeship. She uses her time effectively by focusing on question practice and reviewing her performance continuously.

What resource does Danielle recommend for question practice in FR?

Danielle recommends using the Kaplan exam kit for question practice, as well as the ACCA practice platform, which includes mock exams and the ability to self-mark attempts.

How does Danielle utilize the examiner reports in her preparation?

Danielle reads the examiner reports to identify areas where students typically perform poorly. She then focuses her question practice on these areas to ensure she is well-prepared for such questions in the exam.

What was Danielle's approach to handling different sections of the FR exam?

Danielle started with Section C, which she found the most challenging, then moved to Section A, and finally tackled Section B. She also made use of the flagging feature on the CBE platform to mark questions she was unsure about and revisit them later.

How did Danielle ensure she was well-prepared for the exam day?

Danielle created a study plan and adhered to it as closely as possible. She also made sure to review all topics, even if she didn't master them completely, and to practice question timing to ensure she could complete the exam within the allotted time.

What advice does Danielle give for maintaining motivation and avoiding burnout during study?

Danielle advises taking breaks when needed and being kind to oneself. She emphasizes the importance of a study-life balance and listening to one's body when it's time to rest.

How does Danielle approach revision when she finds a topic difficult?

When Danielle encounters a difficult topic, she revisits her notes, attempts questions, and if needed, looks at the correct answers to understand the proper approach before attempting the questions again.

What is Danielle's opinion on the importance of sleep during exam preparation?

Danielle believes that sleep is crucial, especially the night before the exam. She advises against studying at the expense of sleep, as it is important for maintaining focus and performance.

What additional resources does Danielle recommend for FR exam preparation?

Danielle recommends ACCA's self-check quizzes for testing underlying knowledge and technical articles on the ACCA website for clarification on specific topics. She also suggests reviewing old notes from previous related exams, like F3 Financial Accounting.