Exams

Professional accountancy exams will challenge you in ways you haven’t experienced before. By starting your study regime early, you’ll come out the victor in these challenges. Edel Walsh tells us how It has been a while since I started my journey as a Chartered Accountant, but I vividly remember the feeling of excitement, anticipation and apprehension all wrapped up together. Whether you’re starting a new job, moving to a new town or city, or beginning a professional accountancy qualification, it can feel like a lot of change in a short space of time.  The journey ahead will be exciting and challenging. It will require dedication, discipline and a realistic approach to your studies. One of the most important ingredients for success is starting your study early.  Rethink the way you study Chartered Accountancy exams are unlike any you have done before. In college and university, assessments and exams test your knowledge of a particular topic or subject. Even if you had a surface-level knowledge of the topic or subject, you still may have done well.  Professional accountancy exams are designed not only to test your knowledge but to assess your ability to apply that knowledge in real-world scenarios. Having a surface-level knowledge of a topic will not suffice; these exams require you to have a deep understanding of subjects and scenarios presented to you.  If you think you study best by cramming, it is time to rethink your study strategy. Early preparation is essential for exam success. Engaging in spaced-out learning rather than cramming will build strong foundations of knowledge as well as reduce stress and academic burnout. Building the foundations By starting your study early, you give yourself time to build a strong foundation in each subject, allowing you to approach the more complex topics with confidence. It will also give you time to revisit topics on numerous occasions, which will help reinforce your learning. Our brains love repetition. Looking at a topic once or twice will not result in deep learning. This requires you to continuously repeat and reinforce what you have learned.  When you have that deep understanding, you can apply your knowledge to any scenario. That is what is required for these exams.  Reducing stress and overwhelm Trying to cover vast amounts of material in a short time can be overwhelming. By starting your study early, you can reduce stress significantly.  Advance preparation gives you time to address any difficulties early on as opposed to waiting for a few weeks before the exams when your stress levels will be elevated.   Optimising exam results Beginning early gives you time to practise exam-style questions, make lots of mistakes and use the lessons from your mistakes to refine your study approach. Tips for starting early Establish a realistic routine There will be a lot to navigate as you embark on your new career path. You will be working busy jobs, attending lectures and studying as well as maintaining personal commitments. When you are setting out your study plan, the key is to be realistic.  Every week commit to drawing up a loose plan for the week ahead. Consider your work and personal commitments as well as the lectures you need to cover. Within that plan, see where you can fit in a few hours of study. Even if you only get an hour of study done a week, all these hours will add up in the long term.   Set learning goals For each study session, set learning goals as opposed to outcome goals.  An example of an outcome goal is: “I will review two webinars and read two chapters of the manual”.  Instead of doing this, focus on what you want to retain during your study.  An example of a learning goal is: “Today, I want to understand the double entry book-keeping entries for depreciation”.  By focusing on learning goals, you will get a good appreciation of what you know and what you need to focus on going forward. Stay organised  Keep your study materials, notes and resources well-organised. This will save you time and make it easier to find the information you need when you need it. Prioritise your wellbeing  Your physical and mental wellbeing is the cornerstone to success. Get plenty of rest, eat well and make time for exercise and relaxation. Rest and recovery fuel productivity. Strategy for success Starting your study early is one of the most effective strategies for ensuring success in your professional accountancy exams. It allows you to build strong foundations, reduce stress and ultimately optimise your exam results. Edel Walsh is a student coach and mentor. She supports her clients with their studies and exams using a holistic approach of focusing on academic success, personal development and looking after their wellbeing. For more information, check out www.edelwalsh.ie

Edel Walsh outlines the signs and symptoms of academic burnout and explains how students can overcome it Since the pandemic, we have been hearing and talking more about people suffering with workplace burnout. However, in my own coaching practice, I am seeing the rise of academic burnout, a subject not often discussed. According to the World Health Organization, “Burnout is a syndrome conceptualised as resulting from chronic workplace stress that has not been successfully managed”. Academic burnout is not simply a result of a challenging course load. It can be several factors that overwhelm students, leaving them feeling drained and disengaged.  Common contributors include: Excessive workload – This leads to overwhelm, stress and exhaustion;  Perfectionism – students may have unrealistic expectations causing frustration and disappointment; and Lack of support – students can feel socially isolated where there is a lack of support from their peers, family, friends, and the workplace.  Symptoms of academic burnout The symptoms of academic burnout can present themselves physically, emotionally, and behaviourally.  The physical signs of burnout can include: Feeling tired and drained most of the time; Lowered immunity, frequent illnesses and being unable to shift coughs and colds; Frequent headaches or muscle pain; and Change in appetite or sleep habits. The emotional signs of burnout can include: Sense of failure and self-doubt; Feeling helpless, trapped and defeated;  Detachment; Loss of motivation; and  Increasingly cynical and negative outlook.  Finally, the behavioural signs of burnout can include: Withdrawing from responsibilities; Isolating from others; Procrastinating; Using food, drugs, or alcohol to cope;  Taking out frustrations on others; and  Skipping out on study or even skipping exams. When it comes to burnout, it is useful to think about the “three R” approach. Recognise: Know the signs of burnout. Reverse: Seek support to manage stress and overwhelm. Resilience: Take care of both physical and emotional health Preventing academic burnout As discussed in Dee Frances’s article on page 8, it is important for students to find balance between work, study, and other commitments. At the start of every week, get a bird’s eye view of what the week ahead looks like and plan your week from there. Creating a realistic schedule for your work, study, and other commitments, as outlined by Moira Dunne at page 14, will give you the feeling that you are in control. Ensure you are incorporating plenty of breaks into your routine and be sure to have something in your week that you can look forward to.  I always encourage students to incorporate self-care into their weekly plan and study routines. Prioritising self-care and breaks fuels productivity when it comes to study.  There is no magic formula when it comes to self-care while you study. It will depend on you as an individual. It can be as simple as going for a nice walk, meeting a friend for a coffee or listening to a podcast that is not related to your study.  Seek support if you need it. You can do anything, but you can’t do everything. Develop a strong support system through peer groups, friends and family that will champion and support you.  Overcoming academic burnout For those of you who are grappling with academic burnout there are number of things you can do. Take some time to understand the root cause of the burnout. This will help you identify areas for improvement.  Seek support from a healthcare professional.  Reflect on your goals. Most students will have set a performance goal such as “I want to pass my exam first time around”. When we focus on a performance goal such as this, it can feel overwhelming. Instead, break this goal down into a learning goal. Instead of focusing on the outcome, focus on the lesson. For example, “Today I want to learn the conditions of retirement relief. I will check my understanding of this by doing a past exam question”. This will help reduce that feeling of overwhelm.  Prioritising your sleep, nutrition, exercise, and hobbies will go a long way in helping you overcome burnout.  Incorporate breathing or mindfulness into your study routine. This will help you move from a stressed state to a calmer state. A simple technique is to take a deep abdominal breath in for seven seconds and breathe out for eleven seconds. When the “out” breath is longer than the “in” breath, it is activating the parasympathetic nervous system (rest and digest) and easing the sympathetic nervous system (fight, flight, or freeze). By recognising the signs of academic burnout, implementing preventive strategies, and seeking help when needed, students can navigate the pressures of their exams, while preserving their mental health and well-being.  Edel Walsh is a student and exam coach. She supports her clients with their studies and exams using a holistic approach of focusing on academic success, personal development and looking after their well-being. For more information, check out www.edelwalsh.ie  

Moira Dunne outlines eight top tips to make the most of your study sessions this exam season During exams, it can be hard to manage your time when you are studying alone, concentrate for long periods of time and stay motivated day to day.  Here are some study tips to help you stay calm and ace your exams. The list includes things to do in advance to set yourself up for a day of studying, as well as ideas to stay on track. Tip 1: Have a dedicated study space Set up a good study space; a place that helps you ‘get in the zone’ when you sit down to hit the books.  Not everyone has the luxury of a separate room, but even if you are studying in a shared room in your house, think about the best way to set the space up. Here are some things to consider:  Get a comfortable chair; Have your desk and screen at the correct height to minimise neck or arm strain; Clear any clutter to create a calm, clean area. This helps your mind stay clear; and Add a picture or plant to inspire you to spend time in the space. Tip 2: Get organised New items in our arsenal can motivate us to get started. Plan ahead and get all the stationery and tools you need before you have to put pen to paper. This saves time when you are studying.  This method can also stop you from procrastinating, as we often use basic prep as a reason to procrastinate. Bright stationery stimulates the brain, too. By using these tools to summarise and organise your thoughts, you are making it easier for your brain to retain and recall information.  Tip 3: Make a study plan If you know your exam start date, work backwards and count how many days you have to prepare. Identify some key points to reach (milestones) along the way. Then divide up your work, considering:  What is the best order to study your subjects? How much can you do each day? What are the milestones and when?  By planning your topics for each day, or even each half day, you are breaking up the big pile of work into manageable chunks, making it easier for the brain to get started and stay focused. Whatever study plan you create, make it visible on the wall or your desktop. And make sure you review it and amend it as things change. Staying on top of and updating your plan as you go is key to making your plan work for you. Tip 4: Have a regular routine It helps our mind and our body to have a regular routine.  Study at the same time each day. If you have a full day, start early as that’s when our energy and focus is generally higher. This makes it easier to concentrate and learn, and you will get through elements quicker. If possible, finish early and take a break. This helps your brain to rest and switch off before you try to sleep. Tip 5: Remove distractions We all know how distracting our phones are. Every time there is a notification, we want to check it. We also pick up our devices and check them subconsciously, distracting us unintentionally. Everyone will have a range of distractions in their study space. We can’t easily eliminate humans or pets, so our phone is one thing we can control. To enable a short burst of concentration, leave your phone in another room. Even if only it’s only for 30 minutes, you can focus, concentrate and learn during that time.  Once that 30 minutes is over, take a short break, check your phone if you need to, and return to focus again after five minutes. Out of sight is out of mind, so you are less likely to miss the phone or pick it up without realising it.  Tip 6: Be active – test yourself It is very hard to focus and concentrate if you are just reading for long periods of time. So, make your studying an active exercise. Here are some ways you can do it: Make summary notes at the end of each topic; Highlight key points; Create reference cards for revisions; Take a test or a quiz; or Test yourself with past exam questions. Tip 7: Eat well and hydrate Sometimes, you will need treats and snacks for motivation or even a quick energy boost. Lots of foods are known to help concentration and focus; find out what works for you and include them in your diet when studying.  It is important to keep your brain hydrated, as well. Drink water instead of energy drinks or several cups of coffee as both can be dehydrating. Hydration and eating well will help your brain learn but also retain knowledge. They will also help you sleep better, which sets you up or a productive day of study. Tip 8: Take breaks Our bodies and our minds go through peaks and troughs throughout the day. So, breaks are essential to help recharge and reset. Plan regular, short breaks into your study schedule, along with a longer lunchbreak. Use the longer break to get some fresh air to help clear the cobwebs.  Being outside also free up your mind; the wide-open spaces help to calm the brain too. Don’t overdo your study time. Shorter productive sessions are better than long days. Have an evening routine to wind down. Or change your focus with a movie or some other calming activity. Best of Luck We hope these eight study tips help you. The very best of luck with your exam preparation and your exams this year.  Be kind to yourself and be proud of your hard work. Moira Dunne is Founder of beproductive.ie  

Bryan Rankin, Head of Student Operations, gives guidance on how to put together a great set of notes for open-book exams CAP2 exams are open-book, meaning that you can have as many hard copy (paper) notes and textbooks as you wish. Great! That means these exams will be a piece of cake, right? Wrong.   Open-book exams assess students' understanding of the subject matter and its application to real-world problems. They require students to make connections between various areas of a subject, compare, contrast, or evaluate information with pros and cons rather than simply remember and regurgitate learning principles.   Why is this relevant? The sole objective in an exam is to gain marks from the examiner. Therefore, it’s essential to become very familiar with what skills the examiner is looking for you to exhibit. Your notes play a vital role in this.    In open-book exams, you won’t have time to look everything up. You should be able to verbally summarise the key concepts in sessions without relying on your notes. You should know your basic facts, concepts and definitions by heart. That way, when writing an exam answer, you don’t have to waste time reminding yourself what the question is about. You’re there, you’re ready to go; you just need to reference some formula or past question in your notes to start typing up the answer. Less is more When it comes to the resources for an open-book exam, let’s start with what to avoid.  Tempting as it is, bringing a pile of textbooks into your exam room in June is the wrong approach.  Time is your greatest resource, and every minute is an opportunity to score marks. A pile of folders or textbooks may make us feel more secure but will certainly not deliver what you need in the exam, which is speedy reference points and familiarity with the material.  Effective notes  Going into your open-book exam, it is ideal that you only have one folder of notes for each exam subject. Start your notes folder with a table of contents so that the specific reference item can be found and used quickly. Then, number each page in your notes to get there faster. Using coloured tabs or post-its can also help you find your content. Consider including the Competency Statement for each subject. This document, produced by the exams team, is a list of everything examinable. Work your way down the Competency Statement, highlighting areas you find challenging, and check your notes support you on each topic listed.  In the lead-up to exams, the education team releases two new sessions for students in the Learning Hub. These sessions will include a concise study guide per subject, which gives a high-level summary of the most important concepts covered.   This study guide is another good starting point from which to build out your notes for each subject.  Use sample papers You’ll know at this stage that study revision in preparation for exams should be all about practising exam standard questions from our sample papers or from sessions in the Learning Hub. By practising questions, over time, you will identify the key concepts and themes that may appear in the assessment.  This approach should be carried throughout your notes. Include past questions where it was attempted and you struggled, highlighting the errors made.  The mock exam paper and solutions are another core set of resources to utilise.  Refining your notes The effectiveness of your notes will make a difference to your assessment. If you sit down with a disorderly mass of papers, you’ll waste time sorting them and may feel overwhelmed and stressed.  Is your folder well-organised and laid out in a manner that allows you to find important content quickly?   It’s sensible to compare your notes with friends, but don’t copy someone else’s notes entirely. Their strengths and weaknesses will be represented in their notes, and probably won’t tally with yours.   Refine your notes for each subject as you get closer to exam week, with the objective of making each folder more concise.  Review a small portion of your notes every day. Doing this over a long period of time ensures that what you’ve learned will save you time and improve your recall. Handwritten notes There is a lot of value in handwriting your notes.  Studies have shown that you’ll have far better recall when notes are written in your own hand. You can also use colour for additional recall and mind maps to illustrate how one concept links with related learning principles.  Carefully select key slides from the Learning Hub for your notes folder. Resist the temptation to print out every slide from every session in the subject – most of this won’t help you on exam day.  By investing time now in your notes, you will be well-positioned to find key information quickly on exam day and will feel a sense of achievement by drawing all the knowledge and skills you have learned together.  For more on open-book exams, see the CAP2 videos from Prof. Mike Farrell in the Learning Hub.

Sarah McAleese, CASSI Education Officer, explains her top tips for exam success this summer Preparing for Chartered Accounting exams, be it CAP1, CAP2 or FAE, can feel daunting. While successful preparation demands a high level of discipline and strategy, whether it's an open-book or closed-book exam, understanding the exam structure, including the format, types of questions, and the weighting of each topic, is crucial to effectively prioritise your study efforts and appropriately allocate your time throughout study leave and during the exams themselves. Know your stuff Having a good idea of the scope of what needs to be covered will aid you in developing an effective study plan. Be sure to refer to the Competency Statements and recent examiner reports as they can provide a good indication of key topics which may appear on the exams. Time management Efficient time management is crucial, and practice is vital for building confidence and improving your performance.  Work through a variety of practice questions and sample papers to familiarise yourself with the exam format.  It is vital that you practice answering questions under timed conditions and that you become well versed with the Cirrus platform to improve your speed and efficiency on the day. The misleading ‘open-book’ exam For CAP2s and FAEs, open-book exams can be slightly misleading. Despite having access to study materials, it is still essential that you have a deep and thorough understanding of the core concepts and principles.  Start by organising your study materials in a clear and accessible manner so you can effectively locate and reference the information on exam day. It can be easy to overlook the narrative questions, so be sure to identify any low hanging fruit and not allocate all of your time to the more computational questions. Stay healthy Lastly, ensure that you take care of your physical and mental well-being during exam season. Get regular exercise, eat a balanced diet, and get sufficient sleep to keep your mind and body in optimal condition.  Managing stress and anxiety is also important. Ensure that you are still being social and making time to see friends. Consider forming a study group and utilising the discussion forums to share ideas gain insights and support from peers preparing for the same exams. Effective preparation for both open and closed-book professional exams requires a well-structured study plan, effective time management, and ample practice under exam conditions.  By adopting a strategic and disciplined approach to your preparation and taking care of your physical and mental well-being, you can maximise your chances of success and achieving your goal of passing your exams.

Success often hinges on more than just textbook knowledge in the high-stakes realm of exams. Unexpected challenges can throw even the most prepared individuals off balance. Edel Walsh delves into effective strategies for handling the unexpected and maintaining composure under pressure Exam success has a lot to do with how you deal with an unexpected curve ball a paper can throw at you. For example, there could be a question you don’t know how to answer or something you didn’t review during your study sessions. Your own internal thoughts or curve balls might also show up on the day of the exam. People often worry about forgetting everything they’ve learned, their stress levels affecting their focus, or if they studied enough. Here are some tips for dealing with the unexpected during an exam.  Expect the unexpected No matter how well-prepared you feel, there can always be something that will catch you off guard during an exam. This is to be expected given the type of exams you are sitting.   Once you have accepted that something unexpected will come up, it won’t feel so overwhelming when it happens.  Breathwork No matter what happens in the exam, you are always in control of your own breath. Use it to regulate and re-focus.  Stress can have a physiological effect on your body. One such side effect is your breathing getting shallower.  When your breathing becomes shallow and quick, there is not enough oxygen getting into your bloodstream, and so not enough oxygen reaching your brain.  This can impact cognitive ability, which can have a knock-on effect on overall exam performance.  If this happens, give yourself a few moments to recognise what is going on. Then, place your hand on your belly and take some deep abdominal breaths.  A breathing technique when in a sticky situation is the 7/11 breath. Breathe in for seven seconds and out for 11 seconds. Repeat this a few times.  Another effective breathing technique is the square breath: breathe in for four seconds, hold your breath for four seconds, breathe out for four seconds and hold your breath for a final four seconds.  Even when feeling confident, I always recommend students take a breath before tackling any question or requirement. This will help you get clarity of thought before continuing.  A word of warning, though: try not to wait until the exam day to start practicing your breathing.  While it will help you even without any practice, it is much more effective with practice.  Incorporate breathwork into your study routine.  Answering unexpected questions When faced with an unexpected question in the exam, it can be easy to misread it, overlook an important piece of information, or misinterpret it entirely.  Use the following five-step approach to keep yourself on track. Breathe: Use a breathing technique to help clear your mind and self-regulate. Read: Take your time reading the question or case. The faster you read, the fewer words your eye will focus on. If you feel like you don’t understand what you are reading, slow down and try again.  Key words: Highlight key words, like “analyse”, “assess”, and “describe”, and answer the question accordingly. Also look out for "and" as that indicates there is a second part to the question that needs to be answered. Ask: Ask yourself: “am I answering what the examiner is looking for, or am I answering a question the way I’d like to answer it?”  Plan: Before you start writing, take a few moments to plan out your answer to make sure you haven’t missed any important elements and that you understand what the examiner is asking. Focus on your circle of control When you are feeling pressure in an exam, it is useful to focus on what is within your control.  Start with the questions that give you the most confidence. If possible, keep the difficult questions until the end, ensuring you have left enough time to answer them. Remember: slow down, take a breath, regulate yourself and then you can tackle whatever comes your way.  Edel Walsh is a student and exam coach. For more information, check out www.edelwalsh.ie