Sunday 8 November 2015

General things - particularly RTFQ!

Observations

As a tutor, I see many problems caused by students not reading the full question (or, as I like to call it RTFQ!)

Reading the assessment performance feedback documents published by AAT, it is clearly evident that it’s not just my students who fail to ‘RTFQ’. Missing out key information or, worse still, seeing what you think is there and not what is actually there, can cause you to under-perform on tasks so, where you normally meet or exceed expectations, you move into the borderline or below requirements grade criteria.

If I could provide one cure-all antidote shot, it would be ‘inject’ every one of my students with the RTFQ serum so they never, ever fail to RTFQ again. Sadly, I can’t ‘magic’ this so I have to hope my students remember to take a couple of extra seconds to RTFQ every time.
I know what you’re thinking, it’s easy for me to say all of this, and in the heat of battle when you’re in the middle of your assessment, nervous and a little upset that things aren’t going quite as planned RTFQ really is the last thing on your mind but please, take a breath, look up/around/away from the screen for a couple of seconds then refocus on that pesky task. You’ll be surprised what this can do for you. Also, if you’re really struggling with a task (e.g. Statement of financial position – SFP - isn’t balancing), flag the task, move on and come back to it – often this will ‘fix’ the problem as you’ve got a fresh pair of eyes again. Also remember that, in the event of your SFP not balancing, you will get credit for things you have got right – just because you’ve not balanced is not the end of the world - use any workings boxes provided..

Another issue I find a regular problem is that students sometimes forget that units are linked. What do I mean? Level 2 financial accounting units (PBKT & CJBS) link with Level 3 units (ACPR and FSTP) which, in turn link to Level 4 units (FSTM, CSHM and CRDC). I often find students starting Level 4 Financial Statements have forgotten how to deal with an accrual or prepayment. This type of problem is particularly evident at the beginning of the year when we’re starting the new level. Students have had a summer break and it seems the sun, sea and Sangria have melted away their ability to carry our end of year adjustments. Similarly, BSCT, CSTR, BDGT & FPFM are linked. Once you’ve passed your assessment, that is not then end of it – you need to move up to the next level – You don’t stand on the bottom of a staircase and magically find yourself at the top, do you? (Not unless you’ve got a Stannah Stairlift of course). Think of each unit as a step up to the next level/course/qualification.

I also see many posts from distance learners asking for the best order to study units. Whilst I would always recommend asking your training provider in the first instance, here’s my thoughts:


Financial Accounting
Management Accounting
‘Other stuff’
Level 2
1.       PBKT
2.       CJBS
3.       BCST

4.       CPAG
5.       WKAF
Level 3
1.       ACPR
2.       FSTP
3.       CSTR
4.       SDST
5.       ITAX
6.       PETH
Level 4
3.       FSTM
1.       BDGT
2.       FPFM
Options
4.       1
5.       2
Then:
6.       ISYS

Looking at level 2 – my reasoning for having CPAG at no 4 is to give you time to learn what is going on with the debits and credits in PBKT & CJBS and gain a good understanding of what the computerised accounting system is actually doing for you. Basic Costing is at no 3 purely to give a little ‘light relief’ after the first two units. WKAF is left to last as it may draw on some knowledge gained from the other units.

Level 3

Getting the financial accounting units out of the way early is good - your knowledge from Level 2 is a little fresher in your mind. It’s amazing how many students I see forgetting what one should enter into the Sales/Purchase Ledger Control Accounts and, more importantly, on which side of the T-account you would find such entries.
SDST is left to no 4 as you’re often asked to work out profit – well if you’ve not learned how to calculate profit manually in ACPR and FSTP, how can you possibly expect to know how to tell a spreadsheet to do it?
ITAX can, actually, be done at any time – maybe even as no 1. You learn how to construct the VAT control account here – some of which may be useful in FSTP.
PETH is left to last because it’s horrible and needs focus.

Level 4

Getting the management accounting units done first is good because they follow on from CSTR at level 3. BDGT is quite a straight-forward unit but FPFM is a lot heavier but follows on well from BDGT.
FTSM is a good one to do next, that way your financial accounting knowledge may still be fresh (ish).
Your options should be done next – I always CRDC and CSHM for those in industry and PTAX and BTAX for those in practice. EXTA could be useful for anyone.
ISYS should always be your very last unit as it draws upon knowledge you’ve gained from every single unit at all three levels. Traditionally, students find this unit quite difficult because it’s all words – accountants like numbers and balances.
Think of it this way, 45 words a day will give you your 5,000 words report within 4 months – surely even the most challenged student can find 45 words to write every day? Also think of this, how sad would it be if you didn’t achieve your goal because you procrastinated? I’ve seen too many go that way – please don’t be one of them.

These are just a couple of things I wanted to say - feel free to ignore them if you don't agree but, whatever you do, don't give up half way through a unit. Persevere - it will be worth it!