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I have worked through chapters 1 - 16 of the book, doing the examples as i go and also working through the work book doing the examples. I sat this afternoon and completed the first mock exam and to be honest was really disappointed in my progress, i had put transactions as debits and they should have been credits and vice versa, i had also not worked methodically through the tasks and missed a lot of the double entries.
All in all i made a complete mess of it which i dont understand as i work in accounts and consider myself quite methodical in my day to day work.
In my mind i am using DEAD CLIC system then on paper i somehow sit and think about it more and switch it all round in my brain.
Has anyone got any advice for me.
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Hi Bel,
Welcome to the forum.
Hopefully, my experience will be helpful.
Firstly, I have to say that I am slightly different from you as I do not work in accounts. This, in part explains why I did struggle to learn all of the material in one reading.
It was only by the time that I went through the text book four times (!) taking notes as I went, that I was happy that I was really on top of things. Although I am using Kaplans ICB manual I also made use of other books - such as Business Accounts by David Cox and Robinson & Wood's Book-keeping and Accounts which helped explain things I was particularly struggling with.
I do think its worth spending the time getting fundamental's of Level 1 right, as its the basis for levels 2 and 3, so I was happy to go through the manual repeatedly until I understood things completely. I think you would be doing very well to learn everything in one reading and I'd guess that two readings might not be sufficient for the majority of ICB students unless they have studied bookkeeping before.
One other quick thing. If you are using Kaplan's ICB manual, like I am, and it is 'Edition 1, amended September 2008' edition, I have been told that Level One is covered by chapters 1 to 18, not 1 - 16 as you mentioned.
Regards,
Ray
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Hi
Thanks for your advice, i will seek out the books mentioned, i am so glad someone else struggled, i am studying with Kaplan and i have gone through the study material twice so it looks like i need to keep working at it, I feel a lot better now that you have said you went through 4 times!!!
Out of interest how long did it take you to get to the exam point? And how often were you studying?
I am a bit confused about the study material as the study material says study 1 - 17 then you should be ready, yet the mock exam on the front says 1 -18, my previous statement about 1 -16 was a typo!!!
Maybe because i work in accounts and have a bit of knowledge my expectations of myself and my progress were a lot higher, all its done is knock me back into reality mode and hopefully i can now get on with it with a better understanding.
I am so glad i came on the forum now as its picked me back up!!! I have realised i am not the only one!! No doubt i will be back with further questions in the future!!!
Thanks once again.
Bel
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Belsaid:
“Hi
Thanks for your advice, i will seek out the books mentioned, i am so glad someone else struggled, i am studying with Kaplan and i have gone through the study material twice so it looks like i need to keep working at it, I feel a lot better now that you have said you went through 4 times!!!
Out of interest how long did it take you to get to the exam point? And how often were you studying?
I am a bit confused about the study material as the study material says study 1 - 17 then you should be ready, yet the mock exam on the front says 1 -18, my previous statement about 1 -16 was a typo!!!
Maybe because i work in accounts and have a bit of knowledge my expectations of myself and my progress were a lot higher, all its done is knock me back into reality mode and hopefully i can now get on with it with a better understanding.
I am so glad i came on the forum now as its picked me back up!!! I have realised i am not the only one!! No doubt i will be back with further questions in the future!!!
Thanks once again.
Bel
”
Please send me an email and I will send you an advice sheet on which side things go.
paul.buzzard@cedaraccountancy.co.uk
Paul FICB, MAAT, ACCA
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Hi Bel
Don't beat yourself up about your mock as they are to help you identify areas that you need to concentrate on more. It is better to find out now than on your actual exam.
I know everybody has there own method of study but I too struggled with what goes on the debit and credit side and I personally found that writing them out myself in a format that I could identify with really helped me. I would even take my list to work with me and when I had a moment I would test myself.
When it came to my exam then I found I was picturing my sheet of paper in my head and I was able to breeze through it. I have always tended to use picture or word association when revising but that works for me and not all people but it may be worth giiving it a go.
Good luck
Sarah x
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Hi, I have taken a long time - too long in fact - to get anywhere near being ready.
I plan to sit level 1 in Jan 2012 but I started studying at the end of July 2011! I work full time in a busy job thats not related to accountancy in any way. With family committments I am averaging only 7 hours study time, a week, which is not enough really. Kaplan advised me that I am more or less where they would expect me to be given the number of hours I'm spending studying.
All I can say that the more studing you do the clearer things become. Eventually things do 'click', so keep going!!!
Regards,
Ray
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Thanks Everyone for all your advice.
Ray - Does it matter which editions of the study books you recommend? surely the concept will be the same regardless of the edition, was thinking of looking on that famous auction site for them as being christmas and having already done my lists to santa, money is a bit tight, so was thinking second hand?
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- Member PM.Dip
- Practice Licence
- 195 posts
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Hi Bel
It doesn't matter at all which edition of books you buy. There may be some updates between editions but as you rightly say the principles don't change.
One thing I found helpful when embarking on Level 1 was to track everything from the bank. So for example if you can just remember that money out of the bank is a credit and money into the bank is a debit you can think everything else through logically from that point.
So for example, if you pay your electricity bill the money comes out of the bank account, therefore a credit, so the debit must be to the electricity account.
Maybe that will help a little bit... as mentioned above it is worthwhile getting your head around things thoroughly at this stage as it will make the following levels much much easier
Good luck with your studies and with the exam.
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Yes, as Clare has said books don't change that much between editions and you can save a lot by buying older versions. Use your Kaplan text as the principal text, but the other texts are often very useful to have as they will explain things differently which you might find helpful.
I have not bought any text books from that famous auction site so I can't comment really, but I have bought quite a few second hand books from Amazon.co.uk and I have been happy with the the service I received.
Good luck,
Ray
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