What is the best way to revise A level accounting?

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Im a bit confused as to how to revise it because i find it hard to remeber the layouts of things like a cash flow statement as well as some of the logic to things. Another thing I know i need to know is ratio analysis and was wondering how people remeber the formulas for them?

thanks, i have my first accounting exam in 3 weeks :/ 

Posted Sun 20th April, 2014 @ 17:46 by Melonball

1 Answer

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Hi, I studied A level Accounting and am currently studying Finance at University.

By far the best way to revise Accounting is to do lots and lots of practice questions. If you're unsure of the layout for a certain question then have it next to you, and make sure when you're doing the practice questions that you do the layout properly (underline things etc) because then it'll become a habit and you won't have to think about it when it comes to the exam.

If you really struggle with a layout then try writing it out a few times properly but without figures (put an 'X' where the figure should go). However, the best way to remember a layout is to just understand the logic behind it.

When I had to learn ratios I used flash cards. Write the formula on one side and the name of it on the other. If you're really unsure of them at first, first go through looking at the formula first and trying to remember what it was called. Then, once you're more confident, go through looking at the names and trying to recall the formulas. You'll probably find (I did) that some are far easier to remember than others. So once you've gotten the hang of the easier ones, focus on remembering the more difficult ones. Eventually you'll know them off by heart. Also, make sure that you practice using the ratios so you know which figures you need to use from a set of accounts.

The A-level accounting exams make it easy to pick up a fair few marks, but difficult to get the higher marks. Good luck, I hope this helps a little.

Answered Thu 24th April, 2014 @ 23:04 by Vicky