Failed my 1st exam :( finding it so hard this year!!

I failed my 1st exam limited company. My calculations were 100% right everything balanced etc. Just when it came down to the theory i waffled hoping i wrote enough to pass but obviously didnt do, feel so unmotivated now. I am currently studying at a college so really feel pressured into completed everything by July. Have Financial Performance exam tomorrow to take and i am even less confident with that subject :(. Just had to vent x

Comments

  • BeccaLouJ9
    BeccaLouJ9 FMAAT Posts: 896 Regular contributor ⭐ ? ⭐
    Noo, sorry you're feeling down. It's a step up though isnt it?! Sorry you didn't get the pass you were looking for but think of it as a practice and next time you will pass with flying colours..!! Especially if you got all calc's right and it was just wordy stuff... at least you know what to practice on now?

    I took Fin Perf at the beginning of Dec and am still waiting on results (only been 3 weeks so not expecting them for a while!) What exam was it you didn't pass? FinStats? I'm doing that one at the moment.
    Try Budgeting after FinPerf.. they are V similar.. basically the same exam!

    Anyway, I don't really know what I can say to make it better, but chin up and keep smiling! :) Oh, and remember, we are always here to help/vent at!

    B x
  • jane
    jane Registered Posts: 165 ? ? ?
    I agree with everything B said, sorry to hear your news, but don't give up, dust yourself off and try try again. Keep your chin up, I am sure you will have a positive result next time.
    I am waiting for FP result, and to be honest I don't think I got it, same as you I think my calcs were ok, but the written bit I waffled and I have a sneaky feeling I waffled a bit too much!
    Will do better next time round
    J x
  • Makkusu
    Makkusu Registered Posts: 94 ? ? ?
    "In the Orient young bulls are tested for the fight arena in a certain manner. Each is brought to the ring and allowed to attack a picador who pricks them with a lance. The bravery of each bull is then rated with care according to the number of times he demonstrates his willingness to charge in spite of the sting of the blade. Henceforth will I recognize that each day I am tested by life in like manner. If I persist, if I continue to try, if I continue to charge forward, I will succeed."

    http://www.mat.univie.ac.at/~neum/contrib/persist.html

    Thank me later. Good luck!
  • snowmarauder
    snowmarauder Registered Posts: 99 ? ? ?
    I took Fin Stats tonight, yea I went in my head, then my mind went a blank, but hopefully fingers crossed I got through it if not, try try try again, PMA - positive mental attitude xxxx
  • nicd1981
    nicd1981 AAT Licensed Accountant Posts: 244 ? ? ?
    Focus888 wrote: »
    I failed my 1st exam limited company. My calculations were 100% right everything balanced etc. Just when it came down to the theory i waffled hoping i wrote enough to pass but obviously didnt do, feel so unmotivated now. I am currently studying at a college so really feel pressured into completed everything by July. Have Financial Performance exam tomorrow to take and i am even less confident with that subject :(. Just had to vent x


    Hi, How did you get on with fnpf?

    I failed my 1st subject too and like you felt really down. It was budgeting
    I have since passed financial performance, shockingly! and resat budgeting, i think i have a better understanding now of the written subjects.

    Keep on with it, dont give up as youll only regret it

    nic xx

    Good luck xx
    Nicola Donnelly ,MAAT, MIP, CIMA Dip MA

    Email: [email protected]
    Facbook Page: MEND Accounting
    Blog: http://wannabeanaccountant.blogspot.co.uk
    Twitter: @mendaccounting
    Website: http://www.mendaccounting.co.uk
  • reader
    reader MAAT, AAT Licensed Accountant Posts: 1,037
    I've been in the same place as you; Level 4 has been a massive struggle for me and I've spent a very long time on it. However I have now done all 5 exams and have just finished the project so what I can say is that if you tackle one exam at a time and invest the time and effort it will eventually pay dividends.
  • allison24
    allison24 Registered Posts: 2 New contributor ?
    Same Here

    I started level 4 in October (distance learning) I am currently STILL working on Financial Statements. I agree it is certainly a step up! Finding it very hard, nearing the end although finding consolidated statements - SFP & SOCI quite difficult to understand. Just feel like I'm never going to be ready for this exam.
    :crying:
  • nicd1981
    nicd1981 AAT Licensed Accountant Posts: 244 ? ? ?
    reader wrote: »
    I've been in the same place as you; Level 4 has been a massive struggle for me and I've spent a very long time on it. However I have now done all 5 exams and have just finished the project so what I can say is that if you tackle one exam at a time and invest the time and effort it will eventually pay dividends.

    Hi,

    Ive written 2282 words on my project and have now hit a stumbling block!
    Im not sure what else to write and how to write it ?

    Im currently studying Financial Statements, then credit management and business tax
    Cant wait til its all over

    nic x
    Nicola Donnelly ,MAAT, MIP, CIMA Dip MA

    Email: [email protected]
    Facbook Page: MEND Accounting
    Blog: http://wannabeanaccountant.blogspot.co.uk
    Twitter: @mendaccounting
    Website: http://www.mendaccounting.co.uk
  • nicd1981
    nicd1981 AAT Licensed Accountant Posts: 244 ? ? ?
    Oh Alison i feel exactly the same
    But keep at it and well get there in the end
    although, how im going to learn all the standards word for word i dont know ha
    nic x
    Nicola Donnelly ,MAAT, MIP, CIMA Dip MA

    Email: [email protected]
    Facbook Page: MEND Accounting
    Blog: http://wannabeanaccountant.blogspot.co.uk
    Twitter: @mendaccounting
    Website: http://www.mendaccounting.co.uk
  • reader
    reader MAAT, AAT Licensed Accountant Posts: 1,037
    nicd1981 wrote: »
    Hi,

    Im currently studying Financial Statements, then credit management and business tax
    Cant wait til its all over

    nic x

    This time last year I had financial statements, budgeting, financial performance and the project left and I just thought that AAT was never going to end.

    One year later I've now done all the exams and am just waiting on my project results; I've even filled out the MAAT application form in MyAAT.

    It's weird me saying this given all my struggles on Level 4 but eventually it does end.
  • Diddy Mau
    Diddy Mau Registered Posts: 238 ? ? ?
    Hello all,
    Just wanted to say thanks for all the posts to this.
    I've failed my financial statement exam and my personal tax, thought I passed the tax. this hurt the worst.
    I've re-sat the Financial Statement, now not too confident since I done it I got the results for tax.

    I have to say this is definatly a large step up.
    I to felt like quitting, but everyone is right...keep going and I will get there.

    Just managed levels 2 & 3 no problem, this is a big shock to the system

    feel better after reading the posts and adding my own
  • guinea pig
    guinea pig Registered Posts: 402
    Hi All,
    I'm also finding level 4 very challenging; I work full time, and have study leave just to attend class at college, so most of my studying is done at weekends, in the evenings, & during annual leave. The first unit I did was Financial Statements, which I thought was horrendous; in the exam, two questions that should have balanced, didn't, and I was expecting a reconcilaition question, which I was more happy about, and there wasn't one! The 5 week wait for results was awful, and i was ready to give up, especially as I was ill, and missed several classes. However, I passed! I think I must have done well at the written questions, as I can waffle for pages. I can now see a bit of light at the end of a 3 year tunnel, and am back on track, although really struggling with Financial Performance variances.
    So, Good Luck everyone, have a good look at the answers to the practice written questions, and think how wonderful its going to be, when you emerge from the tunnel with AAT level 4.
    GP
  • nicd1981
    nicd1981 AAT Licensed Accountant Posts: 244 ? ? ?
    here here guinea pig

    I so agree, which variances are you struggling with?

    I have just passed financial performance although i was so sure id failed!

    nic x
    Nicola Donnelly ,MAAT, MIP, CIMA Dip MA

    Email: [email protected]
    Facbook Page: MEND Accounting
    Blog: http://wannabeanaccountant.blogspot.co.uk
    Twitter: @mendaccounting
    Website: http://www.mendaccounting.co.uk
  • Focus888
    Focus888 Registered Posts: 46 ? ? ?
    Thanks for all your replies to this thread :) the day after i received the fail for Limited company i had to sit my Financial Performance exam (which i had already felt unconfident at) anyway failed that too. Cant resit until college gives a date so just have to forget them for now and move on to the next subject. Doing this with my local course which means have to follow their timetable which is a nightmare this year as my work is crazy the last few months. Not going to give up though. i have now found out that i can take exams as external students in other instutes, wish i had known this before as i feel like classroom studying is not working out well for me this year. :) nevermind keep going. Hoping to finish by the end of the year instead of by end of June as college wants.
  • rob1982
    rob1982 Registered Posts: 8 Regular contributor ⭐ ? ⭐
    I failed my Financial Performance exam too on the fixed overhead variances :-(. I've got my resit next week so fingers crossed I can remember all the formulas this time.
    Keep at it Focus and it will all sink in. Good luck for when you do your resits!

    Rob
  • AuntieT
    AuntieT Registered Posts: 96 ? ? ?
    Don't give up!

    I am waiting for my ICAS to be finalised, interview last week just waiting to see it uploaded on to My AAT.

    I have been fortunate and have passed everything first time, but even so can say I can imagine how it feels having failed exams before. The written questions always got me and I came out of every exam thinking I'd not written enough.
    Brush yourself off and try again. At least the next time you have a better idea what you're facing, and how to time manage the paper - always my problem!

    Good luck!
  • nicd1981
    nicd1981 AAT Licensed Accountant Posts: 244 ? ? ?
    rob1982 wrote: »
    I failed my Financial Performance exam too on the fixed overhead variances :-(. I've got my resit next week so fingers crossed I can remember all the formulas this time.
    Keep at it Focus and it will all sink in. Good luck for when you do your resits!

    Rob

    Hi Rob,


    have you tried all the practice papers, i found by constantly doing the exercises and checking the answers the variances stuck in

    i still could never remember the total variances tho ;)

    anyway good luck with resit, its crap failing ive just done a resit last week and it cost me 38 quid!!

    nic xx
    Nicola Donnelly ,MAAT, MIP, CIMA Dip MA

    Email: [email protected]
    Facbook Page: MEND Accounting
    Blog: http://wannabeanaccountant.blogspot.co.uk
    Twitter: @mendaccounting
    Website: http://www.mendaccounting.co.uk
  • Angela254
    Angela254 Registered Posts: 3 New contributor ?
    Focus888 wrote: »
    Thanks for all your replies to this thread :) the day after i received the fail for Limited company i had to sit my Financial Performance exam (which i had already felt unconfident at) anyway failed that too. Cant resit until college gives a date so just have to forget them for now and move on to the next subject. Doing this with my local course which means have to follow their timetable which is a nightmare this year as my work is crazy the last few months. Not going to give up though. i have now found out that i can take exams as external students in other instutes, wish i had known this before as i feel like classroom studying is not working out well for me this year. :) nevermind keep going. Hoping to finish by the end of the year instead of by end of June as college wants.

    Where did you find this out?

    I sat my financial performance exam on Thursday and think I failed, the 1st section was fine but I messed up section 2 so know I won't pass. It's going to be a long 6 weeks to find out the results! I'm revising like crazy now for the financial statements exam which is booked for Tuesday, I am really not ready to take the exam but our tutor is adamant that we sit the exam otherwise we won't have enough time for personal taxation. I'm working full time and studying at college 2 evenings a week - a different subject each night, it's so hard trying to learn 2 different things at once, and there is too much pressure on trying to get it all done before the college year ends. The jump from level 3 to level 4 really is massive :huh:
  • nicd1981
    nicd1981 AAT Licensed Accountant Posts: 244 ? ? ?
    Hi Angela,
    I was exactly the same after fnpf determined id failed, results came back 3 weeks and 2 days later and id passed!
    It is alot more intense than level 3, but its our qualifying year its not gonna be easy.
    Your tutor should not be pressuring you to take your exam if you arent ready, for a start the college needs high pass rates so if they pressurise people to sit exams who arent ready they lower there results.
    Ask your tutor to let you sit exam in a couple more weeks when your more confident
    Good luck ang

    Nic x x
    ps im doing financial statements too at the minute and it is intense xx
    Nicola Donnelly ,MAAT, MIP, CIMA Dip MA

    Email: [email protected]
    Facbook Page: MEND Accounting
    Blog: http://wannabeanaccountant.blogspot.co.uk
    Twitter: @mendaccounting
    Website: http://www.mendaccounting.co.uk
  • guinea pig
    guinea pig Registered Posts: 402
    Hi Angela,
    The first unit I took this year was FNST, and I was exactly the same, convinced I'd failed, and was considering giving up. However miraculously I'd passesd! which gave me the motivation to push on. I'm finding it incredibly tough this year, working full time and studying, but am determined to complete the course - we've all worked so hard to get this far, just need some extra energy to finish! This morning, it looks lovely and sunny out, and I've got the whole chapter on measuring performance to complete, before I can go out, but its going to be worth it!
    Good luck
  • Vitalija
    Vitalija Registered Posts: 2
    Hi everyone, i am on level 3 and just had an exam of Bookkeeping and practised a lot than would imagine my self but i have faild and cant stop panicing every day as its hard, harder than we all expected when we where told to practice on aat web site and extra readings. I have passed all tests and read all papers but when we got in to exam i started panicing and not the only one i guess i wasnt the only one who found it damn hard. So i dont even know where to start. I can not find more explanation about non current asset accounting ledgers how do disposals or profit loss acount on them ledgers. Does anyone know how many times allowed to resit the exam and how many times to fail :(. Thanks Vitalija
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