DFS - Steve's Recommendations

Hi All,

So another sitting passes us by and now we are ready to look at December's sitting!

As some of you may be aware, I won't be doing any classes for DFS but that doesn't mean I can't put those of you struggling with DFS on 'the right path'. I ran some 'early start' courses for the June session and in those courses, here are my key recommendations for any student of DFS:

1. Start early - the earlier you start the better prepared you will be. If this is a resit for you, don't be despondent - get back up, dust yourself down and get those books out again. You will already know the stuff!

2. Buy Clare Finch's IFRS Guide - no financial reporting student should be without it.

3. Some tuition providers dive straight into doing past papers. They do this to teach students how to pass the exam as opposed to equipping the student with knowledge. If your tuition provider does this, refer them to this post and tell them to speak to me about how to teach DFS.

4. Start at the beginning - if you're doing DFS for the first time, go back to FRA and refresh your knowledge.

5. Look at all my articles on the AccountancyStudents website and on PQ's site. In particular, look at my Success at DFS article.

6. Download the DFS Guidance from the website.

7. Ask questions - if you're not sure about something, ask. If you get a stupid reply on the forums, it is because the person giving the stupid reply hasn't a clue either. The only daft question is the one you don't ask.

8. Listen to your tutors - particularly those that post on here.

9. Read relevant articles in Accounting Technician.

10. Read the Chief Assessor's report and learn from past mistakes!

This should get you guys on the right starting path for DFS. I will, of course, post relevant threads up and links to various articles I may write from time to time, but the key to getting this paper passed is to start it as soon as possible!!

Kind regards
Steve

Comments

  • lewpylew
    lewpylew Registered Posts: 216 ? ? ?
    Thanks Steve : )

    Funnily enough I emailed my tutor about this earlier as I have DFS retake to do. Knew it was coming as I did not finish the paper due to lack of preparation and a stressful house move.

    Will print off this thread so I can get cracking on DFS and know it off by heart come December as this is all I have left now!
  • jenny3549
    jenny3549 Registered Posts: 472
    Thanks Steve. I'll be starting Technician soon and have seen what a guru you are for DFS so have just printed out all of your articles in readiness - my poor printer is now on strike!!
  • reddwarf
    reddwarf Registered Posts: 528
    I've got a copy of Claire's book for sale if anyone wants it!
  • Lou1234
    Lou1234 Registered Posts: 210 ? ? ?
    Thanks Steve.

    I now only have DFS left (and unit 10 that is currently in for checking) and was disappointed to learn you weren't running any classes now. But I am going to read the articles you recommend and get the book you suggest.

    Passing BTC and PTC has given me the boost to start studying for DFS straight away. Give myself plenty of time to do past papers etc.
  • Steve Collings
    Steve Collings Registered Posts: 997
    Hi Lou1234,

    I'm sorry about the courses - I have a few projects that I am going to be working on, but I hope to be helping students in some other ways (more on this as the months progress). I will be around on here and will provide links to relevant information that I put out there.

    Good luck for your studies.

    Regards
    Steve
  • jenny3549
    jenny3549 Registered Posts: 472
    You're prolific Steve - just read an article you did in the May edition of Accountancy Magazine! (I know it's probably a bit above me but a friend passes them on unread to me).
  • Steve Collings
    Steve Collings Registered Posts: 997
    Lol!! Was that the disclosure problems article? I know I'm in that magazine in August where I'm writing about leasing. There's also one in of mine in that magazine next month.

    Kind regards
    STeve
  • Julia
    Julia Registered Posts: 78 ? ? ?
    Steve I saw your leasing article in Accountancy magazine. I think the articles you put out there for students and qualifieds are really well written. You should work for the standard setting board!
  • Steve Collings
    Steve Collings Registered Posts: 997
    Thanks Julia. I could probably write in clearer language than the standard setters :) but I wouldn't want to work there!!
  • Julia
    Julia Registered Posts: 78 ? ? ?
    I think you could Steve!

    Steve I have to ask why you are not promoting your book on this thread instead????
  • Steve Collings
    Steve Collings Registered Posts: 997
    Julia wrote: »
    Steve I have to ask why you are not promoting your book on this thread instead????

    You're the second person to ask me that today!! Lol.

    My book was only ever intended to be used as a revision aid and when I wrote it I had both student and qualified accountants in mind as a target audience.

    The IFRS book which I wrote is being incorporated into another book I am currently finalising so it will be taken off sale very soon.

    I also believe Clare's book is a 'must have' for all corporate reporting students because of the style it is written in and the way she has grouped the standards according to levels of difficulty which follow a traditional professional qualification syllabus. She is also a friend of mine so you have to do what you can for your mates!!

    Kind regards
    Steve
  • katz568
    katz568 Registered Posts: 93 ? ? ?
    Good of you to be so gracious steve but your book is also written in a friendly, helpful manner.
    Good luck for future projects, be it book or otherwise.
    Katrina
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    You're the second person to ask me that today!! Lol.

    My book was only ever intended to be used as a revision aid and when I wrote it I had both student and qualified accountants in mind as a target audience.

    The IFRS book which I wrote is being incorporated into another book I am currently finalising so it will be taken off sale very soon.

    I also believe Clare's book is a 'must have' for all corporate reporting students because of the style it is written in and the way she has grouped the standards according to levels of difficulty which follow a traditional professional qualification syllabus. She is also a friend of mine so you have to do what you can for your mates!!

    Kind regards
    Steve

    Just to add to what Steve has written, I believe that Clare's book approaches the accounting standards from a completely different way to any other text book. She uses things like pneumonics to help you remember formats etc and is so different from anything else out there.

    I would have used Steve's book (if he had had the good grace to write it when I was taking my papers rather than afterwards) as a revision tool as I feel you needed to have gone through the standards and understood them first. I do still use Steve's book now especially when dealing with leasing ;-(
  • Clare Finch
    Clare Finch Registered Posts: 40 ? ? ?
    Many thanks for the kind comments.

    Steve was a complete stranger back in February 2008 when he was the first person to review my book on amazon:

    http://www.amazon.co.uk/Students-International-Financial-Reporting-Standards/dp/1847107087/ref=sr_1_1?ie=UTF8&s=books&qid=1282044168&sr=8-1

    Steve was studying for his 'diploma in IFRS' and I was obviously thrilled with his review and contacted him to say 'thank you'. Only later did I find out he is a guru himself...makes the review even better in my eyes...thank you Steve.

    As 'blue' kindly says I did set out to write something different...focused on and helpful to students... I am always thrilled if someone tells me I achieved it.

    I really hope it helps you to success with DFS and new FNST...

    Regards

    Clare
  • keane155
    keane155 Registered Posts: 404
    Thanks for the recommendations for DFS Steve, it looks really useful. I'm not sure when we'll be doing DFS but your post looks really helpful for some preparation. :)
  • Ed1
    Ed1 Registered Posts: 51 ? ? ?
    Just a quick note on Clare Finch's book.

    I bought it on the back of reading this thread last week. My aim was to read it on my bus journeys into work and back, in the hope that between now and December enough information would have been implanted on my mind to assist with the understanding and application of the standards.

    I thought reading it at 7.30am each morning was going to be a chore, but this book is very well written, in a chatty and informal style, and it's *almost* been a pleasure to read it this week.

    To sum up, the positive reviews of this book on here and Amazon appear to be well-founded.
  • Steve Collings
    Steve Collings Registered Posts: 997
    Hi Ed1,

    I like to hear my recommendations have worked and I know Clare will be happy about your comments.

    Regards
    Steve
  • Andypandy
    Andypandy Registered Posts: 526
    Hi all, does this info apply for F7 aswell? (already got the college library to order both of your books)
  • Clare Finch
    Clare Finch Registered Posts: 40 ? ? ?
    Recommended reading for ACCA F7

    Hi there,

    Ed...can I just say you have made my day...thank you for taking the time to make your post...so pleased you are finding it helpful.

    Steve...as ever thank you for the recommendation...you were my first amazon reviewer and i so so value your opinion.

    Andy... ' A students guide to IFRS' is actually the official additional reading for the ACCA F7 syllabus (you don't need the 'red chapters' till P2 tho!!).


    Kind Regards

    Clare
  • Barry
    Barry Registered Posts: 101 ? ? ?
    I am resitting DFS.didn't do it in June due to other committments but if Steve recommends claires book then I'm definately getting it.
    Shame you not doing any of your courses Steve I know a few people have recommended you.
  • AK002
    AK002 Registered Posts: 2,492
    I will be buying the book when I come to
    Do F7
  • zara5034
    zara5034 Registered Posts: 170 ? ? ?
    Reddwarf

    Is the book still avaiable, if so how much would you like for it?

    Zara
  • Andypandy
    Andypandy Registered Posts: 526
    Thanks Clare.
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