F8 Audit Not That Scary....really

[razy]

Hi guys

My new years resolution was to start early with my studies which I have done!
I usually wait for my results in Feb and then start and that is just a waste of 2 months.

I wanted to share that I have read my Kaplan books on Audit and would like to say they are not as scary as one imagines.

I hated the law paper, to me it was like learning a new language. But I scraped a pass....then came Audit :err: and I thought oh no another theory paper and it will be as awful as the law paper but it isn't.
Whether you have audit practical experience. Most of the acca books are designed for students whom have no experience in the field obviously it is huge advantage if you do.

When you approach your studies do not think I cannot understand this..SOoo hard, don't get put off by risk inherent and substantive testing, think ok what do these words mean literally and what are they trying to achieve, why are they part of the audit paper.

I want you to put the Mr/Mrs Audit hat on. Yes do not think of The Auditor, he or she, think I am the auditor and I must ensure this company is compliant and the way I will do this is by testing a b & c.

Even if you have no e.g. purchase ledger experience think of it logically. Purchasing team will order goods/purchases then someone will book the goods after inspecting and record with a GRN goods received note and someone in accounts will pay the invoice. Their is a relationship forming, then look at the way it good all go wrong so now you be the sceptical auditor and ask all the necessary questions to fulfil any concerns you have, don't worry you are not going to make the office workers cry :realmad: by questioning their work, we are only doing our job by auditing....see not so scary is it.

Take a deep breath and read the books with the attitude that YES I will understand this as I have decided to study the ACCA and Auditing is an interesting paper! Good luck.

First of all we need to Plan our STUDIES (just like you plan an audit)
2nd of all we need to have a set of rules or subjects to check our progression against (look at the chapters involved)
3rd our aim is to pass! Ok I am a bit cliche now so I will jsut go away quietly..

ps I have been reading positive thinking books and I will soon post some encouraging threads for you all

Razwana

[Sravanthi Y C]

A very good New Year resolution. Plan your time for going through study text.

Analyse the study text practically. Nothing will be too hard.
Once you complete a learning outcome look after the practical view (go through the examples).
Go through past exam papers you can understand the pattern of the paper.
Go through the examiners comments so that you will understand how not to answer a question
and also you can understand how a topic is important and how the scoring is possible
and what are the points which have weightage.

All the best

[razy]

Hi guys

It is worthwhile reading the examiners comments on past exams from the acca website www.accaglobal.com. Some links.....:

http://www.accaglobal.com/students/study_exams/qualifications/acca_choose/acca/fundamentals/aa/examiners_reports/f8_jun08

Interview:
http://www.accaglobal.com/learningproviders/tuitionproviders/tpr/teaching/interviews/fundamentals/f8

Study guide and articles:
http://www.accaglobal.com/students/study_exams/qualifications/acca_choose/acca/fundamentals/aa/syllabus

Bye ;)

[mahadi]

Thanks Razy
I think its a ngood idea to start early I am doing so now , how ever I disagree with U about the fact that Audit paper as You see, I did n't sudied Audit through my academic live, ( I registered for ACCA with Exeption) , and now trying to take it In June 09 , but I have a sense that it's adefecult paper.

Hi guys

My new years resolution was to start early with my studies which I have done!
I usually wait for my results in Feb and then start and that is just a waste of 2 months.

I wanted to share that I have read my Kaplan books on Audit and would like to say they are not as scary as one imagines.

I hated the law paper, to me it was like learning a new language. But I scraped a pass....then came Audit :err: and I thought oh no another theory paper and it will be as awful as the law paper but it isn't.
Whether you have audit practical experience. Most of the acca books are designed for students whom have no experience in the field obviously it is huge advantage if you do.

When you approach your studies do not think I cannot understand this..SOoo hard, don't get put off by risk inherent and substantive testing, think ok what do these words mean literally and what are they trying to achieve, why are they part of the audit paper.

I want you to put the Mr/Mrs Audit hat on. Yes do not think of The Auditor, he or she, think I am the auditor and I must ensure this company is compliant and the way I will do this is by testing a b & c.

Even if you have no e.g. purchase ledger experience think of it logically. Purchasing team will order goods/purchases then someone will book the goods after inspecting and record with a GRN goods received note and someone in accounts will pay the invoice. Their is a relationship forming, then look at the way it good all go wrong so now you be the sceptical auditor and ask all the necessary questions to fulfil any concerns you have, don't worry you are not going to make the office workers cry :realmad: by questioning their work, we are only doing our job by auditing....see not so scary is it.




BR
Mahadi

Take a deep breath and read the books with the attitude that YES I will understand this as I have decided to study the ACCA and Auditing is an interesting paper! Good luck.

First of all we need to Plan our STUDIES (just like you plan an audit)
2nd of all we need to have a set of rules or subjects to check our progression against (look at the chapters involved)
3rd our aim is to pass! Ok I am a bit cliche now so I will jsut go away quietly..

ps I have been reading positive thinking books and I will soon post some encouraging threads for you all

Razwana