Strategies to pass CPA CFE September 2021
Exam dates are now approaching fast. Economic situation at Canada is still not favorable. Stress is building on with many students. Many students were thinking where to start. Friends and some of advisers may tell you to write cases first.
Should you start cases now? Answers is very simple, No. You might have learnt that secret of passing this last exam is writing so many cases. However, you have been misguided.
It is preferable first to start reviewing all technical knowledge. First start with Financial Reporting, as it is lengthy and difficult. Focus on most tested competencies in the past exam. Try to make practice to read, understand and techniques to write effectively. Prepare your own notes if possible.
Many students are finding difficulties in Management Accounting as well. Try to focus more on CVP analysis, relevant costing, marginal costing, and contribution. Focus on quantitative and qualitative analysis to solve strategic issues. Examine how strong you are in preparation of a financial viability report. This will be tested in Day 1 exam. Look and practice PV calculations etc.
Examine in detail about assessment of your exam for Day 1 & Day 2 & 3. Many students find shortage of time to finish the exam particularly for Day 1 and Day 3, mainly on account of lac of technical knowledge and techniques of writing the exam. Professional approach, use of quick and correct judgement based on your analysis are keys to success in the exam. I have learnt that use of split screen seems useful in the exam to write and understand quickly. You may try to have practice of doing same if it saves your time.
Indian and Pakistan CA, who have granted exemption in all prior courses, should take help of well experienced tutor as case analysis and taxation are totally new to them.