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Time to fall in love with the standards

14 May 2019

Love your standards - ACCA FR candidates need to get to love their standards, or perhaps find a lecturer who is passionate about them. The examiner told attendees to the Global Learning Providers conference that there are 25 of them, and you “don’t need to be afraid to tell people the standard you love”. His favourite is IS38 intangible assets and feels IS8 is a dreadful one! No-one is, he claims, too cool not to have a favourite – remember this is a FR class and no-one is too cool for anything. He said you should be creating one or two page summaries of each standard, which includes the key summary and rules.

Meanwhiule, PM examiner explained while variance calculations are done well students seem to struggle with discussing variances in relation to managers’ performance. There was real concern that students don’t really understand why they are calculated, or what they tell us about how the company is performing.

Similarly, whenever there is a transfer pricing question students seem to recoil in horror, no matter how easy the examiner tries to make them. Students just don’t like them and there are always problems.

We will have more on the Global Leaning Providers conference next month. For all the top tips for the June exam go to page 26 in the latest issue. The ACCA’s Judith Bennett director of professional qualifications provides advice on how to pass the exams too.

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