INTRODUCTION:
The qualification of ACCA in Mauritius consists of thirteen different exams covering a wide range of accounting & finance topics; these are considered to be amongst the most challenging exams in accounting. Students all across the world are looking forward to giving their best academic performance in these exams to get a good position in the practical world. However, all exams included in the qualification of ACCA in Mauritius are essential and cover all the key areas of the finance sector, yet some of the exams are exceptionally challenging, such as Strategic Business Reporting (SBR), Financial Reporting (FR), and Taxation (TX).
These are some of those exams that students usually find more competitive than the rest; however, some students can find them interesting as well, depending on their academic/learning preferences. Usually, aspirants appearing in ACCA SBR, FR, or TX exams are quite nervous about how to maximize positive outcomes and give an exceptional performance in these exams. Hence, to address this, we came up with the most informative guide that will enable you to explore the best learning strategies that students can incorporate to achieve success in the said exams.
HOW TO MASTER ACCA TX, FR, & SBR EXAMS IN MAURITIUS:
All three mentioned ACCA papers are quite competitive and need utmost focus and dedication if an individual really aims to achieve academic success and recognition in the financial world.
1: SBR (STRATEGIC BUSINESS REPORTING):
One of the most popular exams of ACCA in Mauritius is known for its tough curriculum and complex exam queries. This module is from the third academic level of ACCA, which is also the most advanced level. Here are certain study strategies that students can follow to achieve success in the ACCA SBR paper.
a: THINK LIKE A PROFESSIONAL:
THE ACCA SBR exam checks the reporting skills of aspirants rather than examining their memorization of theories; students are given real-world scenarios and are expected to discuss and provide practical solutions to the problems like a professional. Therefore, students should not depend on memorization but instead focus on polishing their judgement, interpretation of regulations, analytical, and ethical skills.
b: FOCUS ON THE BIG STANDARDS:
ACCA is a global qualification; hence, ACCA papers or modules usually revolve around the international accounting standards, especially in exams like SBR. Therefore, it is best advised for aspirants to focus on the key reporting standards, as more than 70% marks can be distributed in key standards like IFRS 3, IFRS 9, IFRS 15, IFRS 16, IFRS 36, and 19.
c: LEARN HOW TO CONSTRUCT AN ANSWER:
Your answers for such ACCA papers in Mauritius should be comprehensive or well-discussed; therefore, to earn marks, students must learn how to construct a logically sound and well-structured answer without compromising on IFRS standards or violating any financial regulation.
2: FINANCIAL REPORTING:
The ACCA Financial reporting module is from the second academic level of the qualification; this is easier compared to the SBR exam, yet students need to put in extra efforts to ace this paper. Below are some study tips that can be helpful for aspirants.
a: BUILD STRONG FOUNDATION ON KEY STANDARDS:
ACCA financial reporting is largely based on International Accounting Standards (IAS); hence, to achieve success in this exam, students must have utmost clarity and understanding of the key standards. The key standards that students must focus on are IAS 16, IAS 38, IFRS 16, IAS 10, IAS 12, etc.
b: SOLVE AT LEAST FIVE MOCK EXAMS:
Practice is quite essential to crack ACCA papers; the exams are all skill-based, and cramming or passive learning is of no use in these exams. Skills are only developed by consistent practice; therefore, those students who want to get their dream score must take at least five mock exams of FR.
3: TAXATION:
The Taxation (TX) module is in the second academic level of ACCA in Mauritius, known as the Applied Skills level; students typically find this course very interesting yet quite complicated. Are you an ACCA aspirant looking ahead to ace the taxation module? Here are the study techniques that might help you to do so.
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a: MASTER TAX RATES & ALLOWANCES EARLY:
Tax rates and allowances are essential to complete this module successfully; therefore, students should memorize them daily rather than leaving this for the last week/ days.
b: MASTER THE FORMATS:
To be good at taxation, students must know the layouts or formats for taxable income, tax computation, and pro-forma structures; rewards are granted for performance that has no room for mistakes in structures or formats.
c: LEVERAGE PAST QUESTIONS:
When preparing for ACCA papers, students are recommended to use ACCA past papers or questions; this gives them insights into actual exams and helps them polish their skills to ace these exams.
CONCLUSION:
The ACCA SBR, FR, and TX are amongst the most challenging or competitive ACCA papers, but with dedication, hard work, and consistency, students can easily achieve their academic goals or dreams. Leveraging effective resources, developing a strong skillset, and structuring effective yet comprehensive answers are some of the factors that can result in positive academic outcomes. Students can follow the key study techniques provided and elevate their learning journey to the next level.
FREQUENTLY ASKED QUESTIONS:
Q1: Can I exempt ACCA papers after completing the FIA level?
Answer: Yes, through the FIA route, students can be exempted from a couple of modules; students who have completed foundations in Accountancy can move directly towards the second academic level of ACCA, known as Applied Skills.
Q2: What are the key challenges that students face in achieving success in ACCA exams?
Answer: Commonly, students either fail to leverage academic support resources efficiently or they end up using unreliable resources; such experience can lead to failure or dissatisfactory results.
