Financial Reporting is a vast course. If you want to score good marks in FR or any other subject, you must put full effort and be consistent in your preparation.
Following are the suggested preparation tips for FR you can follow :
- Solve each and every question by hand when you are studying FR for the first time. When you take a problem to solve, don’t give up in the middle if you find it difficult and also don’t peek at the solution in the material you are using, solve it completely and then check it. Mark the questions you feel that needs more practice or the question you struggled the most, so when revising, you can practice only those problems to save time.
- You must have complete clarity of the concepts of each and every chapter. It is better to write down all the concepts and the formulas that you use in FR in a separate notebook for easy revision before exam. If you come across new or unfamiliar questions during exam, understanding of the concept will guide you and help you solve it.
- Your writing speed matters for FR. You must try to write for at least 80 to 90 marks. To make this happen you must practice previous years question papers, if you come to know that there were lengthy papers previously, practice that paper and know where you stand. The key is you need to pick the easy and the short questions first and finish them off, this is possible only if you practice well enough.
- Study with the materials given by your institute and refer and follow the solution they have given. Practice questions provided by the institute alone, if you refer extra materials and the solutions are different from your manual, it will confuse you. So always stick to one material and continue to prepare with it till the end.
- Your presentation also matters when you write the exam, so do not ignore that aspect at all. Look at certified copies and see how the presentation is for practical subjects. For practical questions, answering straight to the point with necessary steps is more than good.