Guide to ACCA Applied Skills: Best Tips and Strategies 

 Mirchawala’s Hub of Accountancy shares tips and strategies for ACCA Applied Skills.

Whether you have just started your learning journey in ACCA or you have enough experience in this financial qualification, you must be aware of ACCA-applied skills.

For the ACCA Applied Skills level, there are six exams. These are the following: financial reporting (FR), audit and assurance (AA), performance management (PM), taxation (TX), corporate and business law (LW), and financial management (FM). There are longer questions known as constructive response questions along with objective test-style questions on five of these exams.

Before the exam, students should practice exam questions on the ACCA Practice Platform by visiting the ACCA website prior to the exam. This enables you to become acquainted with the format of the questions and the platform that the exam is administered on, ensuring that there are no unpleasant surprises.

It is imperative that you allocate your time wisely throughout the exam so that you try, but do not necessarily complete, every requirement. This can be facilitated by wearing a watch during the exam and marking the allotted time for each section.

Objective Test Questions (OTQ)

Under the OTQ, you will be getting these kinds of questions:

  • Multiple Choice: Here, you select a response from the several alternatives provided.
  • Multiple Answers: You can choose multiple responses from the available options. (You’ll be informed of the number to select.)
  • Complete the blank: You need to enter a number in the box (if necessary, you will be informed of rounding requirements).
  • Move and Release: To do this, drag and drop the appropriate response (such as matching a definition to a word). 
  • Drop-down Menu: You need to choose a response from a list or lists of lists that drop down.

OTQs are worth two marks and are automatically graded by the computer (no partial marks). Even if your response is only an informed estimate, you should respond to each of these questions throughout the exam.

You should practice as much as possible to learn to smartly deal with distractor or erroneous answers. Think about the reasons behind each incorrect response when you review for your exam. This will enable you to recognize typical distractions and make sure you’re better prepared for the exam.

It is crucial to thoroughly study the instructions and, if relevant, the answer options before taking an OTQ. It’s a good idea to tackle the easier OTQs first throughout the test and mark the more challenging ones so you can come back to them later. You can view which questions have been marked, which are incomplete, and which are complete using the navigator tool.

Even though your calculations won’t be graded, you should nonetheless perform them to increase your chances of getting the correct response. You can do this using the online calculator and the on-screen calculator if allowed. On the other hand, you should limit your efforts throughout the exam to what is required to solve the question.

It’s not always necessary to adhere to every step of a process. To form excellent habits, you should keep this in mind when you practice the OTQs before the exam.

Objective Test Case Questions (OT Case)

There is one scenario in every OT case. You need to answer five objective test questions based on this case study. Any of the previously described question types could be used to structure the OTQs.

Since the material in the scenario tends to be organized logically, you should try to answer the objective test questions throughout the exam in the same order.

Constructed Response Questions

You have the option to respond to the constructed response questions using a spreadsheet or word processing program.

First, you should read the situation from beginning to end before responding to the question. You can copy and paste words into the answer field or strikethrough or highlight words in the scenario while you’re at it. To make a plan, you can also type in the answer area.

Narrative Questions

When responding to narrative questions, use headings that are bolded or highlighted, short sentences, and coherent paragraphs. Use connecting words to build your points. Steer clear of repetition, but when it makes sense, wrap up your response. Tables can be added, and one might already be there.

Make sure you respond to these questions according to the format provided, not as you would like the question to be answered. The goal is to answer the question fully and directly by utilizing both your prior understanding of the syllabus and the additional details from the situation. Instead of quoting from the scenario, you should use the details you have been given to put yourself in the shoes of the organization stated or the particular issue.

Computation-related Queries

You may need to perform brief calculations in word processing for constructed response calculation questions. You can use a calculator for these calculations, and you can display your results in brackets following your response.

If the calculation query is longer, you will probably be given a spreadsheet space instead. There is just one worksheet in this, and you cannot add or remove rows or columns. For this reason, it is advised that you leave spaces for blank rows and columns in between your finished rows so that you may quickly add any necessary information. Alternatively, you can copy and paste every cell to make a blank row and column by placing all of your cells in one row down or one column across. Words ought to be placed around the cell numbers.

Also, you should only enter a number straight into the cell if it originates from the scenario. As a result, you may begin your response by creating a little table with information from the question. Additionally, since using equations in cells doubles the work that the marker will assess, you should utilize them instead of a calculator. Try to make your answers as obvious as possible by enlarging the columns, properly formatting the cells, and, when necessary, bolding the final replies.

If you have time, review your answers once more at the end of the test to make sure they are understandable and clear.

Finally, it is your exam. Try to be calm and composed, believe in your hard work, and give your best.

Study ACCA with Mirchawala’s hub of accountancy

Mirchawala is well-known for offering a range of ACCA and other financial courses worldwide. If you need professional guidance to flourish in your career, Mirchawala is probably the best option.

Recent Blogs: