Study methods for FRA and ECR exams

System
System Posts: 100,534 πŸ€– Admin πŸ€–
edited June 18 in AAT student discussion
I failed FRA for the second time and have worked out it's only 15 weeks until the next sittings and I plan to sit ECR too......

I can't understand why I keep failing and it really got me down this time. I've come to the conclusion that my previously tried-and-tested study method no longer works and was wondering what everyone else who passed did?

Comments

  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    for fra my plan was to master the etb as if you can complete that right everything else follows on from there also brush up on double entry to make your life easier, i just repeated the same questions over and over till i mastered the etb
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    I did exactly what Racklen has suggested. IÒ€ℒm finding that because I havenÒ€ℒt done ETBÒ€ℒs a for a little while IÒ€ℒm struggling with them as IÒ€ℒm revising, but once you get into the swing of it, itÒ€ℒll come back to you, I just kept doing the same ETB questions over and over again til I got the hang of it. Keep positive and IÒ€ℒm sure youÒ€ℒll be 3rd time lucky ! :D
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    phunkyphantom22 -who's your learning provider ?
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    My study method is to

    1) Use the past paper to sharpen up your accounting skill

    2) Past plenty of incomplete record in various form as this always come up in the first part of the exam

    3) Ask your tutor for help if there is even a tiny of the unit you do not understand

    4) Make sure you can do your double entry without any problem and understand why it is done this way. (if you struggle on this, use the foundtain past paper to sort this out). If this is poor, you will struggle on this exam

    5) If you are struggling on the written part, it mean you do not have much background knowledge behind the figure. To improve your knowledge, I write down the important point I need to remember and write it down on the card in memorise information.

    I hope this would help in you passing your FRA exams and good luck
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    I'm with BPP - say no more!
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    My double entry and ETB are fine and passed my foundation exam first time - it's so frustrating that you don't know how much you failed by and what you failed on.

    A complete revision topic list would be handy if anyone has one?
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    Hi phunkyphantom22, I totally sympathise with you. I really struggled with FRA, ECR was ok for me. The best thing that I can recommend is that you get a little note book...I got one from Paperchase it was like a little book with grid lines on it, and each section is a different colour and its about the same size as those flash cards you can get.
    Soo this is what I had in my bible :wink:
    FRA

    *I put a little T Account with the following
    Dr cr
    D P V P E A R L S A V C
    B B B P P B P B P B B B
    This stands for on the DR side
    Drawings,Prepayments,VAT, Purchases, Expenses, & Assets.
    On the CR side
    Revenue
    Liabilities
    Sales
    Accruals
    VAT
    Capital
    *The accounting Equation
    * VAT info
    *Depreciation - both Straight Line & Reducing Balance, and how to work them out.
    * Disposals - I wrote down the steps
    * Fixed Assets - FA Register, why do you keep one, etc.
    * Bad and Doubtful Debts
    * Names of Daybooks eg sales day book (Creditors), and I write down the transactions.
    * Suspense Accounts - Think
    What HAS happened
    What SHOULD happen (the correct entry)
    the CORRECTION
    * Partnerships - think of the steps and write them down, I also had a little blank Appropriation account
    & a Current Account
    * Incomplete records - Net Asset Approach, Cash Book Approach. - CR's in the bank account - use as invoice amounts.
    * Mark Up & COS formula & Steps
    * Accounting Standards - in numerical order
    * Accruals & Prepayments
    * Capital Expenditure
    * revenue Expenditure
    * Key Definitions for P&L, B/S etc
    * Control Account recs
    * Blank Trial Balances - the steps to use
    * Statement of Principles
    * Blank P&L, a B/S.

    For ECR
    * Definitions
    * Costing Methods
    * Marginal Costing Profit Statement
    * Absorption Costing Statement
    * ALL Formula's
    * Limiting Factors
    * Optimum Production Plan
    * Overheads - Allocation & Apportionment - the steps
    * Process Costing T Account, and formula
    * WIP T Account (I just put WIP on the DR side, because I kept forgetting :) )

    I carried this book with me everywhere I went, If I was on a trian I read it etc. If you need anymore help just let me know. You can PM me if you want, I would have done the same to you but I don't know how.



  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    Sorry forgot to say that FTC have great little books that have all of the info but in much more detail. Called Pocket Notes, here is the link

    http://www.kaplanfoulkslynch.com/KPFL/syllaat-nvqsvq.aspx
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    Thanks - you're a star, that's brilliant!
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    Hi

    I am studying with FTC, we did a mock FRA exam and I only scored 62%. I was convinced I would fail.

    My weakest area was partnership accounts so I concentrated on these, thank god I passed the exam, I will be doing ECR next.

    My advice would be to go through the past papers again and again.

    Good luck :lol:
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    Yeah I think I screwed up the partnership accounts bit in the exam.

    I'm with BPP and I don't get any mock exams to do or anything - it's terrible. I know it's home study, but no-one ever contacts me to see how I'm getting on.

    Oh well, guess I will just have to crack on with it and hope for the best!

    Thanks for all your help people!
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    stu43
    did the FTC send you the mock exam or did you request it from them.
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    Hi, if you send me your email address, I have some really simple tips that got me through the exam. They are like using intitals to remember. Like for example... remember if drawings is debit or credit?
    Simple! DRawings - its a debit
    The same works on accruals too.... acCRuals (so credit). Loads more silly things like this but they worked and you are more than welcome to them!
    My email is zoe@zoe302.f2s.com
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    Have pm'd you zoe
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    hi phunky

    i am in the same boat as you - i am also doing home study with BPP and failed FRA and ECR.

    i have only just managed to get in touch with them regarding simulations/portfolio work. i have not completed any yet.

    so my time is now completing simulations and trying to fathom out what on earth i do with a trial balance - let alone anything else

    anyway - just noticed the application to do the december exams is already on the front page - scary.

    oh well - back to the books

    tracy



  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    They are terrible aren't they!

    A girl at my work has just started Inter. level dip. route with Premier and they set her tasks and all sorts to do, like homework!

    Are you going to attempt both in Dec?

    I've failed FRA twice now, but I think I want to try and do ECR in Dec too, otherwise it's going to take forever to get to tech. level!
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    yes i have also failed ecr and fra twice now - i am going to enter both in decemebr and pass both in december

    i am also attemting to do my ECDL home study so i want to get that out of the way as quick as possible so i can concentrate on my AAT

    i just feel somedays when i need the help the most they are not there, where as before we used to have seperate tutors - i felt thus was so much better, much more supportive.

    do you think you will do both in december?

    tracy
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    Exactly - I wouldn't have a clue who to call if I needed help. If I'm ever stuck, I post on here!

    Yes I am going to attempt both in Dec I think - need to get on with it!

    I really need to learn ECR and then revise, but FRA I think is just a case of revision, revision, revision!
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    John1970

    We all did the mock as part of our tuition/revision at FTC's college in Newcastle.

    I would presume that if you are distance learning they will send it to you for completion, mark it and return to you with your score and comments.

    Cheers :lol:
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    I just kept on doing past papers until I knew the exam format inside and out. I made sure that I knew what side each account went on (Debit or Credit). Also, as another poster has pointed out, if you can master the ETB then you're getting there! I also concentrated on the adjustments.
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    I remembered mainly just by phrases or acronyms;

    For control accounts; "debit the debtors" and "credit the creditors". Therefore, the sales and purchases accounts are the opposites.

    For selling a fixed asset, I used 'ADS' to explain the various stages. The A is to dispose of the Asset itself, the D is to dispose of the accumulated Deprectaion from the balance sheet, the S is for the proceeds of the Sale. It also helps to draw up all the relevant T accounts while you're doing it, and then balance them off at the end.

    For accruals, I used 'LAPA' - less (opening) accrual, plus (closing) accrual - to me, this made perfect sense! Therefore prepayments are the opposite of this.

    However, for ECR, you have little choice other than to memorise the formulae, though thy're really not that hard. I printed them all out on A4 size sheets, one formula per sheet, and stuck them all over both my office wall and at home. Whenever, I had a daydream moment, I would sit and stare at them. They tend to sink in after a while, trust me!
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    phunkyphantom22 Where do u study is it wales
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    Hey

    Nope I'm in Wiltshire, England....
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    babecil,
    i study in north wales.

    Ang
    x
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    babecil,
    i study in north wales.

    Ang
    x
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    This information is extremely helpfull.

    Many thanks
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    Hi i would be greatful if you could send me these tips as i failed my FRA and any tips would be apprecitiated greatly.

    my email is sunshine.sammy@gmail.com
    Thanks :)
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    hi, i know it is a bit late in the topic but does anybody know how best to remember all the rules- or is just a matter of practice?

    Thanks
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    Could you please send me the tips you mentioned please.
    My email address is mags10000@hotmail.comThanks for your help
    Mags :)
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Re:Study methods for FRA and ECR exams

    can you please email me the notes clairelou85@aol.com

    thanks

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