Exams

Having to repeat exams can be a tough setback, but it’s not the end of the road. Edel Walsh shares insights to help you learn how to reflect on your past attempts, reignite your motivation, plan your study effectively, and prioritise your well-being as you embark on your journey to exam success Failing an exam is challenging. If you didn’t succeed in your last exam round, give yourself time to process it and recover before thinking about the repeat exam.  When you feel ready to tackle your studies again, know you are brave. It is hard to tackle an exam for the second or third time around.  However, there is some good news. You are not starting from the beginning. Much of the subject matter will be fresh in your memory. You may need to change your study approach. Reflection  Before you get stuck into studying for the repeat exam, take time to pause and reflect. While it might be difficult, there will be some valuable lessons and insights you can gather from the previous time you sat this exam.  In the words of John Maxwell, author of The 15 Invaluable Laws of Growth, evaluated experience is the teacher of all things.  As you reflect on your previous exams, ask yourself some questions that will help you gain insight into the experience.  Reflections on your study What went well for you as you studied for your last exam? What could have gone better while studying for your exam?  What study strategies might you use this time to get better results? Reflections on the exam Did you have enough time to answer all the questions in the exam? Which topics or subjects were you least/most confident answering? How did you feel during the exam? What did you learn from this exam experience? Motivation For some, motivation and enthusiasm for studying might be low after not passing an exam.  Motivation is not an organic process. Students often wait to become motivated, but you will not wake up some morning and be suddenly motivated.  If you can urge yourself to take the smallest of actions to restart a study schedule again, even though you don’t feel like it, motivation will follow.  I often compare motivation to going for a run. I am never truly motivated to go for a run, but the most challenging part can often be putting on my running gear. Once that is done, motivation tends to follow.  Planning It is important to plan your study in line with your available time.  First, factor in your syllabus or competency statement for the subject by using a simple traffic light system:  Green represents the topics where you are confident; Orange represents areas that need some work; and  Red represents areas that need to be prioritised.  Marking these areas by the traffic light system gives you an idea of the road ahead. Next, consider your weekly plans. This plan should be fluid and flexible. Consider which days you have available for study.  Finally, when it comes to daily planning, always start by setting a learning goal for your study session to keep you on track.  Be sure you are consistently testing yourself on the materials under exam conditions. This is the key to success. Many students avoid testing themselves.  Testing yourself and making mistakes is the key to succeeding in the exams. You might feel uncomfortable seeing the mistakes you have made, but it is better to see them as you study rather than make them in the exam itself.  Lean on your support system If there is support available to you, take advantage of it.  Speak to your lecturers. They may be able to provide invaluable information about what went wrong for most people in the exams.  Speak to your colleagues and classmates. They have been there and will be able to offer you a helping hand.  Your well-being and exams Looking after your well-being in the lead-up to the exams is of utmost importance. You can manage your wellbeing by: planning – we have looked at how to create a simple plan. Planning can help reduce stress levels. scheduling productive deep breaks – This does not mean turning your attention to a phone or social media. A productive deep break is taking ten minutes or so between study sessions to go for a walk around the block, listen to music, do a meditation available on YouTube or listen to a relaxing podcast.  breaking it down – If you are overwhelmed by what you need to cover, break everything down into small, manageable chunks. When we look at the end goal (also known as the performance goal), passing the exams, it can feel overwhelming. If we break this goal down into small learning goals, it feels a little more manageable.  Finally, remind yourself of the bigger picture. Failing an exam is part of your journey. It won’t feel pleasant, but you will learn so much from this experience that you can bring to future exams.  Edel Walsh is a student and exam coach. She supports her clients with their studies and exams by focusing on academic success, personal development and looking after their well-being. For more information, check out www.edelwalsh.ie

Prospective Chartered Accountants Ireland students ponder the timeless question: how much study time is enough? Bryan Rankin, Head of Student Operations at Chartered Accountants Ireland, reveals his recommended hours and expert tips to ace your journey to qualification The burning question for prospective Chartered Accountants Ireland students is often, “How much time should I dedicate to my studies?”  While the answer comes with a few caveats, we recommend approximately 150 hours of focused study per subject throughout the academic year. This commitment goes hand in hand with viewing live webinars and preparation, setting the stage for your success in the field. The breakdown   During CAP1, the first year of professional studies, there are five subjects, including law, which may be considered a half-subject in terms of the volume of learning content.  The Institute’s learning platform, the Learning Hub, provides on-demand learning content. Each subject is broken down into 11 to 14 different sessions.  For each subject across the academic year, approximately 30 hours of learning video content and about 20 hours of live webinars need to be viewed.   In addition, there are several other types of learning material with which students will be expected to engage, including slide decks, discussion forums where you can connect with academic team members, and ‘knowledge check’ quizzes.   We place great importance on studying by answering questions from the question packs. It would be best to focus on ‘active learning’ early to aid recall.  You will be expected to attend induction webinars to kick off the academic year and undertake sample papers (similar to past papers) and mock examinations later in the year.   You will also want to try out your skills on the online exam platform Cirrus using a ‘practice paper’ where you’ll have four attempts at each subject.  So, students can see how vital it is to start the academic year ready to maintain a steady, committed approach to their studies. For the above approximation, I have used the typical study routine for CAP1. Expect the second year, CAP2, to require around 15 to 20 percent additional study time, and again similar in the final year, FAE.   Start as you mean to go on It is essential to work hard during the initial months before Christmas. Our qualification is hard-won with challenging, internationally regulated exams, which represent a significant step up from third-level qualifications based on the sheer amount of material it covers.    Cramming won‘t cut it; instead, adopt effective study techniques, establish a study calendar, and consider forming a study group or finding a study buddy early on.  Organise your time and notes meticulously, and be ready to devote a weekend morning and a couple of weeknight hours to studying alongside your daily commitments.  The caveats    Now for the caveats!  For obvious reasons, it’s tough to put one figure on the required hours of study. Every student who enrols with Chartered Accountants Ireland is different: some with primary degrees in accountancy, some with prior experience working in the sector, some more mature and with more life commitments to balance.  This is only a guideline aimed to help prospective students on what to expect, and neither a minimum nor a maximum requirement. Who you are, your past experience, commitment level and study techniques all contribute to your success. On top of that, there is no guarantee that, because a student is committed, they will automatically pass exams.  While the hours recommended above may seem daunting, it’s worth noting that all professional-level qualifications in accountancy require serious commitment. Other accountancy bodies recommend their students devote very comparable levels of home study during their first-year programmes.  Embrace the challenge, and remember that a well-deserved summer break awaits once you conquer those exams.  Best of luck on your Chartered Accountants Ireland qualification journey – we hope you enjoy it!  

In the quest for academic excellence, the age-old inquiry about the perfect study plan endures. Edel Walsh delves into the art of crafting study plans that align performance objectives with the cadence of life One of the most common questions students ask is if I can give them a study plan or schedule that will help them get the grades they are looking for in the exam.  When it comes to study plans, there is no magic bullet. There is not one study plan out there that works for all students. We are all different and have different learning styles, so your plan needs to work for you.  Not only do you need to consider the amount of study required to complete your exams successfully, but how your study will fit into your busy life.  When creating your study plan, you must consider your extracurricular activities, relationships and other commitments. Creating your study plan The first step when creating your plan is setting a performance goal. That goal might be to pass your exams or get a particular grade.  When you set this performance goal, you must understand what is required to achieve it. What is expected of you?  Next, do a time budget, looking at what you must cover with available time. Is it realistic? If not, how can you go about re-prioritising?  Try not to be too rigid with your study plan. You are looking for a bird’s eye view of the road ahead, not a minute-by-minute schedule for every day. Once you have created your high-level plan, break the study schedule down weekly. Weekly study plan At the beginning of each week, set yourself weekly priorities. Ensure your study plan is realistic. Otherwise, it can feel overwhelming, which might result in procrastination and feeling de-motivated. Ask yourself the following questions as you plan for your week: What are my top priorities? What are my learning goals? What subjects do I need to spend the most time on? What obstacles might I face this week? How can I overcome these obstacles? What extracurricular activities have I planned? How am I going to look after my well-being? Daily study plan At the start of each daily study session, set a learning goal outlining what you would like to have learned or achieved by the end of the day.  When planning your day, schedule time for examining yourself on what you have learned and time for breaks.  If you are doing focused, deep study, it is vital to schedule productive deep breaks.  A deep break is not like your lunch break, which may be 45 to 60 minutes long.  A deep break is a mind-cleanser that doesn’t fracture your focus like social media or doomscrolling can. Instead, go for a walk, make a quick snack or daydream.  While every student is different, I recommend taking a deep break of about 10 minutes after 60 to 90 minutes of study.  After your study session, reflect on what you did that day. Here are some questions you can ask yourself: What went well with my study today? What could have gone better? What do I need to learn or study more of for more learning mastery? What one thing can I do tomorrow to make it better than today?  Staying on track While studying, it can be so easy to lose focus. Having a good study plan will help you stay on track and help you stay focused.  A good plan and setting realistic learning goals is the key to success. Ensure your plan is flexible, and be open to changing it if it is not working for you.   Edel Walsh is a student and exam coach. She supports her clients with their studies and exams using the holistic approach of focusing on academic success, personal development and looking after their well-being. For more information, email edel@edelwalsh.ie

If you're thinking about study leave or your next steps in becoming a member – hold on! Hugh Carroll, Manager of the Training Support Unit at Chartered Accountants Ireland, wants to put you on the right path As we move into the second quarter of 2023, the Training Support Unit are conscious that you are likely to be: getting yourself organised for the forthcoming exam season or; approaching the end of your training contract/period. In both scenarios, it is important to be aware of some important information about your CA Diary.  Get the CA Diary on your pre-study leave to-do list  For those of you who will be taking Institute exams this year, it is important that you put time in your personal diary to bring your CA Diary up-to-date and submit the experience for approval. By updating your diary now, you can focus completely on your studies without interruption over the coming weeks.    While it is good practice to keep an offline record, you do need to upload and submit entries to the online system.  Springing into membership? For those who are approaching the end of the training period, there really is no better time than now to check your diary status, bring it up-to-date and put your mentor on notice that your remaining experience will be forwarded soon for approval.  You should note that you won’t be able to get access to a final mentor review until you have reached the end date of your training contract (even if you have all experience days and competencies).  If you have reached or are soon to approach the end of your training contract, but still have elements of your exams outstanding, you can still complete your CA Diary up to and including the final mentor review.  The requirements for the final mentor review are noted under section 1.7 of the CA Diary Guide - Trainees, along with the process for applying for membership.  Common mistakes to avoid Please bear in mind that the Training Support Unit will conduct a quality review of your CA Diary record at the point of admission to membership (and possibly beforehand as part of our monitoring review procedures), so it’s best to check that your record is accurate now.  The team is often impressed by the standard and quality of CA Diary records, however, some of the errors we see mean delays for trainees who wish to get their ACA membership.  Of the errors, the most common are: First entry predates contract start date; Last entry extends beyond the contract end date; Zero-day entries or entries solely for periods of leave; Understating competencies (technical and non-technical); Overstating competency elements (e.g. did you really conduct an IT audit?); Entries which contain limited information in competency descriptors; Overlapping entries. Entries need to be consecutive, not concurrent; and Duplication. Don’t copy and paste your competency descriptors across multiple elements or across groups. To ensure that you avoid the common pitfalls, review the Sample CA Diary Entries for Trainees (check out the Do’s and Don’ts section, in particular). We also introduced a Trainee Checklist, which should help you when creating/submitting entries.  These, and all of the other resources, are available on the CA Diary Resources webpage.   If you find you are struggling with any aspects of your Diary, or are seeking some reassurance, contact the team at Trainingsupport@charteredaccountants.ie or call 01 637 7202.  Lastly, keep an eye on your inbox for notification of any of our forthcoming CA Diary online webinars. Important e-assessment news: new browser download required  All students should note an important change in the technology supporting Chartered Accountants Ireland exams, starting with CAP1 exams in May 2023.     Our online invigilation partner, ProctorU, relies on a browser extension to monitor students, and that extension has to be manually applied to students’ laptops.  As a result of significant recent updates to other browser extension frameworks, ProctorU has launched its own secure browser, Guardian, which provides an enhanced service.  Guardian is now ready and a link to download has been sent to students by email.  For CAP1 exam candidates, your final download deadline is 15 April 2023. By this date, all CAP1 students should have completed the Guardian browser installation on the laptop they plan to use in the main exams. CAP1 ‘practice onboarding’ session is scheduled for 03 May 2023.   The requirement to download the new Guardian browser will also apply to CAP2 and FAE students.  

With four examinable tax heads on the Tax Syllabus, getting them correct on exam day can be challenging. Philip Nicolls lets you in on the secret to getting them right The CAP1 Tax syllabus spans income tax (IT), corporation tax (CT), capital gains tax (CGT) and value-added tax (VAT). Getting to grips with all four tax heads is quite a challenge.   A quick read through recent examiner reports highlights that while many candidates differentiate the separate taxes, some confuse the rules for each tax under exam pressure.  Often this includes some of the more fundamental aspects, and candidates lose relatively easy marks. These basic aspects include: The rate of tax applicable; The due dates for filing and payment; and The rules relating to add-back deductions for IT vs CT – candidates often apply the IT rules in their CT computation. It was tempting to simply include three reference tables in this article showing the information for these three aspects across the relevant tax heads. However, the CAP1 exams are closed book, and getting the information from a table is the least effective way to understand and memorise it. Instead, I challenge you to take an hour to prepare the three tables yourself using your lecture slides and textbook. You should: Detail each of the three aspects, including a list of all the common add-backs and deductions; Add a column for each relevant tax head; and Populate your table with the correct rate/date/treatment. Repeat this technique before your mock exam and spend a few seconds reviewing it every time you study tax. When you sit your mock exam, answer these questions from memory.  I guarantee that researching and preparing the information yourself will make it much more memorable. Good luck with your CAP1 Tax paper in May. Please don’t miss out on any of those easy marks! Philip Nicolls is Paper Development & Syllabus Manager at Chartered Accountants Ireland

Some CAP1 candidates will soon sit their first professional exam. There are steps students can take to ensure their first exam is a successful one, says Garret Mulvin  You have undoubtedly received plenty of guidance and materials to help you navigate your CAP1 journey. At this point, however, a reminder of the critical components of exam success is worth reviewing for all CAP1 candidates. All students preparing for the upcoming CAP1 exams from 22 to 26 May are here on merit and, regardless of the educational route to Chartered Accountants Ireland, are well placed to take on the challenge.  While there is a noticeable step-up to professional exams, how to achieve the magical passing score of 50 percent on any CAP1 exam paper is not a mystery. Exam-focused preparation Engaging with the learning hub, attending webinars and reviewing question banks have been a central and vital part of your CAP1 experience.  Ultimately, however, each CAP1 subject will present candidates with a three-hour challenge during exam week. Four sample papers are available for each subject that reflect that challenge, and students should practice with these as soon as possible.   It is one thing to be able to calculate a cost of capital, complete a variance analysis, prepare a tax computation or finalise a statement of cash flow—it is an entirely different challenge to do this under exam conditions.  Put the phone away, close the study-room door behind you and remove the solution from view until you have completed your attempt.  You may get a shock the first time you attempt a sample question (not to mention a paper!) under exam conditions. You will likely be uncertain and hesitant, make many mistakes and run well over the allotted time. Don’t be discouraged by this – it is essential to your exam preparation journey! Learn from it, understand where you went wrong, and prepare to attempt another similar question.  Practice on Cirrus All Chartered Accountants Ireland exams are taken on Cirrus, the e-assessment platform. Practice papers are available to students on Cirrus.  It is essential to become familiar with the functionality and feel of the e-assessment platform. Navigating between questions, creating tables, and flagging incomplete questions you wish to return to are just a flavour of some of the functions that must become second nature for all students.  This is especially relevant at CAP1, where most candidates do not have the benefit of having taken a main exam on Cirrus in the past. Ensure you engage with these practice papers well in advance of your exams. Mock exams As you know, practice and preparation are essential for passing your exams.  Any exam can be a nerve-wracking experience, regardless of how prepared candidates may be. Mock exams can serve as a confidence-building exercise, help you control the nerves, improve your exam technique and, ultimately, maximise your performance on exam day.  Remember – there is no such thing as doing a bad mock.  Time management Exam technique is essential to your CAP1 preparations, and time management is a huge part of that. In the Exams Department at Chartered Accountants Ireland, we work closely with the examiners to ensure that the entire allocated time (three hours per CAP1 paper) is necessary to complete all requirements. Because of this, time management must be central to your studies.  A CAP1 student has approximately 1.8 minutes for each available mark on the paper. With discipline and practice, your time taken per question will fall, and your chances of exam success will increase.  In the exam itself, once you’ve used the suggested completion time on a particular question, finish up and move on to the next one. Years of feedback from our marking teams tell us that you will undoubtedly get a better return by moving on to the next question rather than spending too long on the current one.  Time management is a skill that needs to be practised. Appropriately managing your time ensures you will attempt all required parts of an exam paper, thus significantly increasing your chances of securing a passing score. Be e-prepared Ensure that both you and your equipment are ready for e-assessment. The links below provide important information for all students. How to get started:  https://www.charteredaccountants.ie/Current-Student/Exams/E-assessment-info/How-to-start  FAQs: https://www.charteredaccountants.ie/Current-Student/Exams/E-assessment-info/Exams-FAQ   Garret Mulvin is in the Examination Executive-Paper Development Unit at Chartered Accountants Ireland