By Michael Ryan - 2 minute readUnlike other subjects, in Accounting you don't need to think too profoundly for or create insightful, personal opinions. It's logical and practical and is great for anyone who likes numbers. In this blog, Michael Ryan goes through his top tips and tricks on getting a H1 in this subject.
To succeed in the exam, you must understand what you are doing and why you are doing it. For example, the most common rule in Accounting is that for every debit entry, you must also have a credit entry. When studying however, ask yourself why you are debiting a particular account or vice versa. This will prepare you for the day of the exam when you may be faced with a question that you have not seen before.
While students tend to focus the majority of their time on the practical elements of the exam, you must remember that every question (apart from Question 1) has a theory question in it. In 2016, it was possible to get 53 marks out of the 400 total without even opening an account, had you answered all the theory questions correctly. This shows that it is well worth your time learning the theory on the course. Personally, I found debating cards particularly effective for doing this, as the theory on the course is quite concise.
While it is essential that you study every question that can be asked in the exam, remember that the same question has never appeared in the same section two years in a row. That’s not to say that it won’t happen this year but it would be foolish to spend all of your precious study time preparing a question that appeared in last year’s exam! Give extra attention to questions that haven’t appeared in a few years.
Accounting is a practical subject. Therefore, the only way that you will improve your grades is by practising the questions again and again. I found Studyclix very useful for this. I used to do a question, time myself and only look at the marking scheme once I had completed the question. This is the only way to see if you know the correct structure of the question and if you are up to speed. Remember that timing is an issue in the Accounting exam. After practicing a question a few times, you will find that your speed and accuracy will have improved. Practice is undoubtedly the key to success in this subject.
Studyclix's Quizzes are also a great tool to help test your knowledge. They can help you figure out what you know already and what topics you need to work harder on. Take the test and see how you get on!
For more tips and tricks, read our Accounting Guide by clicking the attachment below.
Good luck in the exam!
