At the Knowledge level, the toughest paper is, Management Accounting, to crack this paper with high marks is a challenge in itself but we can do so just by keeping some pointers in our mind. In this blog, I am sharing some of the pointers with you guys which will help you in scoring high marks in Management accounting so that you do not fail again in the ACCA Management accounting exam. Fintram Revision Bootcamp also helps you in many ways So, let’s begin.
- Time Strategy – Management accounting is a CBE pattern from paper, so managing time is the most important factor. Section A contains 35 objective questions for two marks each, and Section B contains three multi-task questions (MTQs) for 10 marks each. There will be three MTQs in Section B of the exam, one each on the following syllabus areas – Budgeting, Standard Costing and Performance Measurement. The exam is for 2 hours, so ideally spend 60 minutes on Section A and 30 min on Section B and the remaining 30 minutes for rechecking the entire paper. By following this time strategy, you will not able to complete the paper on time but you will have sufficient time to revise the paper which is equally important in the exam.
- Theory Question – Management accounting exam the weightage of theory is also quite significant so it is necessary to understand the concept very well because in management accounting or in any Acca exam theory will be conceptual theory, not a direct theory, so for that go through the notes given by FINTRAM and also make your own short notes. And also go through the study text of Kaplan or BPP at least once. Also, in the Exam you can get question-based on the Graph so, practice that type of question as well and for that make a small template where a summary of all the graphs in the course is mentioned. Never underestimate the weightage of theory in any of the ACCA exam
- Practical Question – In management accounting practice a lot of practical questions from the Exam kit and while solving questions please remember that paper is not in pen-paper format but in a CBE format so you need to have good excel skills and try to improve them from this level so that in the further level you face no such problem because many times I have come across a student who knows their concept very well but they don’t have good speed on MS WORD and MS Excel because of which they lose a lot of time in the exam and not able to complete the paper
- Read the Question Carefully – While reading the question, please focus and analyze what ACCA wants from you, and what the keywords used in the question by which you can analyze the question, also for reading the examiner report as in the examiner report ACCA clearly mentions that what the common mistake is done by the student and by looking at the mistake of others, we can save ourself from committing the same
- Never Leave Any Topic – Questions will be asked from all the syllabus areas, so never leave anything, at least give a pain read. All the topics are equally important for the exam, ACCA has not given any chapter-specific weightage so it is advisable to cover the entire syllabus
- Scientific Calculator – You can use a Scientific calculator in the exam but please practice beforehand so that you don’t get confused during the exam.
- Maintain Calm in the Exam – Lastly while appearing for the exam, please be focused and maintain calm, it is possible that you don’t know some of the questions in the exam, but don’t lose hope and try to attempt to the maximum possible level and as there is no negative marking so attempt even the question which you don’t know at the end.
So these are some important pointers which you should keep in mind while preparing and giving an ACCA management accounting paper to score high in the exam and make all of us proud of you. So, with these, I am wrapping this blog hoping that these pointers are helpful for you guys in the upcoming exam. You can go through our YOUTUBE channel also for any type of Query. There are many videos related to ACCA. All the Best for the exam.