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Accounting Class 1 - Coggle Diagram

- - - - Test understanding from Question Banks
      - First question attempted from the question bank per topic, you need not do it under exam conditions
        
        Only with the question that follow, you can starting practicing under exam condition strictly to the allocated time
      - Always be sure to be up to date with Topics- so that you dont play catch up- Come Test time
  - - - Bring Coggle Notes to Class
      - Record and Transcript
  - - - Prior year Notes
      - Coggle Notes
      - Table of Contents
- - - - Requiring a definition/section of the statement
      - Having to decide on an appropriate accounting treatment of an issue, by making your theoretical knowledge applicable
        
        Measurement
        
        Presentation
        
        Recognition
        
        Disclosure
        
        Identificaton
    - - This the 5 step approach, can also be used in other modules too
  - - - To ensure understanding and answering of questions correctly, spend more time reading and thinking about the question than rushing into answering it
      - Relax, take notes and start with the easy questions first to build confidence
      - NB!! Very crucial to understand a question's background
  - - - The first step is to identify the issue in the question and to understand what is required
      - I should describe the difficulty or problem in the question that needs to be resolved and determine what the examiner really wants
      - Essential to identify the issue correctly as failure to do so will result in an incorrect application
        
        Students should be aware of multiple issues in a question and provide comprehensive solutions addressing all those issues
  - - - Specific references to relevant IFRS/IAS and their principles should be provided and AVOID BEING TOO GENERAL
      - Clearly state which part of the statement is relevant, such as recognition, measurement, or disclosure
      - Outline the intended solution to the problem
        
        What standard Am I using
  - - - You will earn marks for definitions, as well as for making information applicable to the case study
        
        Apply the definitions, components and requirements to the information applicable to the case study
      - The goal is to convince the examiner to agree with the viewpoint presented, so it's important to think broadly but still stay relevant
      - NB!! The most Important area where where the most marks are earned
      - Answers should be presented in bullet-point format and neatly written
  - - - Not necessary to write a lengthy conclusion
      - Key points are that the conclusion should be concise and clearly state the conclusion and the reason for it
      - Repetition of step 2 however you now concluding