Classes have finally come to an end but, for FAE students, there is still a lot to think about as you exams draw near. Clare Monaghan, Chair of the Chartered Accountants Student Society of Ireland, recommends some ways you can get your studying in while enjoying the sun.
As webinars and classes come to an end, summer exams are either looming in the not-so-distant future or have already been and gone.
Both CAP1 and CAP2 students should enjoy their summer months off. They have worked hard and until their results are published, I’d advise them to take time to relax and unwind. However, summer is also a good time to catch up on your diary entries. Trust me, they don’t take as long as you think!
However, like many of my associate FAE students, we are either already off or approaching study leave. So now is the time to get organised, make a plan, and stay focused.
- Organisation is key, so I would advise using a diary! I’ve been able to maintain a healthy balance between my work, study, and social life by noting the date and time of lectures, exams, work meetings, and social occasions.
- Don’t neglect your hobbies! They keep you connected with friends, provide vital time away from the books, and can be an excellent way to de-stress.
- The only silly question is the one not asked. Reach out to your lecturer, utilise discussion forums on the learning hub, ask your peers, or email the Institute. Everyone is rooting for you to pass your exams, so don’t feel isolated or alone. You are responsible and in control of your outcomes, so make use of the tools that are free and available to you.
- Study smart, not hard. Use your competency statement as a checklist to ensure you have covered all areas and are not just focusing on the easy topics or your favourite subject. I follow the mantra of ‘little and often’. Webinars range in duration, but can also be started and stopped when concentration levels are low or tiredness kicks in.
- For students who have completed exams, rest up and don’t stress over results. There is nothing you can do until they are released. Celebrate the small wins. If you fail an exam and need to do a re-sit, that’s okay. Don’t disregard the hard work you put into passing the others.
What I wish I knew as a CAP1 and CAP2 student
Believe in yourself
I think I would have wanted to have self-belief. It takes a lot of focus, determination, and resilience to pass your Chartered Accountancy exams. I started CAP1 with no relevant accounting knowledge or experience, and initially struggled. However, by planning and practising as many past papers and questions as possible, while reminding myself of the reason why I am doing the exams, I succeeded and went on to CAP2. During CAP2, I maintained momentum by staying on top of study commitments, prioritising difficult topics, and ensuring my files were in order.
Get involved in your student society
Much to my disbelief, not all trainees work in audit! By joining my local regional student society and building a wider network of friends, I have been able to learn and gain knowledge in areas of accounting that I am not exposed to on a daily basis. I would advise reaching out to your local student society if you are struggling (or not!) in a large cohort, as we endeavour to help students by keeping them connected with one another.
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