We know that lots of people are struggling with Management Accounting (P1) and Advanced Management Accounting (P2), so here are some tips to help you in your exams, and you can sign up to our exam advice webinar.
Read the question and answer the question - don’t leave anything blank
Make sure you understand exactly what the question is asking, and answer just that. Don’t waffle or go off on a tangent. You’ll be marked for a correct answer - not the number of words you use. And never assume that the person marking your paper knows what you mean. Make sure you answer the question that was actually asked, not the one you would have liked it to be. If you’re not 100% sure, at least put something. One mark is better than no marks - that’s what a blank answer gets.
Watch the time - practice your exams
So many people get caught out as time definitely flies in exams. The more mock or practice exams you do, the more used to the time constraints you’ll be. Don’t let the time run out in a real exam.
Build your confidence
You have 90 minutes to answer 60 questions. Do the easy ones first. Read through the questions and jump on the ones you understand quickly and can answer. Then you will feel more confident coming back to the trickier ones.
Brush up on your maths and make sure you can use your calculator
You can’t pass an accounting exam without encountering numbers - and numbers mean maths. You need to be able to rearrange equations, understand double negatives and simple algebra. Don’t think you can get by without properly preparing.
You will also need to use a scientific calculator for basic discounting and compounding - this is tricky without a calculator. Make sure you know how to use yours - there are plenty of useful guides online to help you.
Watch our CIMA Management Accounting webinar
For more hints and tips, a walk through of some exam questions on key topics, and answers to common questions, watch our webinar.
Syllabus change
Remember the 2019 syllabus is examinable from 4th November, with the final 2015 syllabus exams on the 3rd Nov. Although the syllabus changes for P1 and P2 are fairly minor, you will still have some additional study to complete if you have studied under the 2015 syllabus and plan (or have to) sit the exam under the 2019 syllabus. Save yourself some extra work and get your exam booked and ideally passed before the end of October.