Study Revision Tips for TPFB Tax Processes for Business

brightsky18
brightsky18 Registered Posts: 41 Regular contributor ⭐ ? ⭐
Hi everybody,

I wanted to share that I have passed my FAPS exams! So over the moon. Thank you to all who replied to my questions.

I need some study tips for Vat exam. The time limit is only 1 hour 30 minutes. I m distance learning and in learning phase right now.

Vat errors and correction partand penalties plus vat with overseas customers , these topics are not so easy at the moment.

Any advice on how to tackle these topics?

Answers

  • JuliaWard
    JuliaWard Registered Posts: 4 New contributor ?
    For me the priority was to learn how to work with the reference material. I copied those pages and had them next to when going through questions in the book. Once you know what (and where exactly!) you have in the materials, you can focus on what you need to remember, and what you can check during exam. Especially with penalties it is good to go though the reference material carefully.
    With error correction questions My tutor advised me to split it to 2 parts:
    1) write down what would be the correct way to post the transaction in question
    2) write down how it was posted incorrectly
    With those steps it is easier to see how to fix the error. I would also mention to not do it the other way around - my brain would get confused if I would do the incorrect entry first!

    If you need any help with a particular question let me know. I did my exam about a month ago and got 95% so I should be able to help!
    wilburnetbrightsky18
  • brightsky18
    brightsky18 Registered Posts: 41 Regular contributor ⭐ ? ⭐
    Thank you Julia. I was looking for the technique and you have given me that. Thank you so much for sharing.
    JuliaWard
  • wilburnet
    wilburnet Registered Posts: 68 Regular contributor ⭐ ? ⭐
    Great result on the tax exam. Well done!
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