I am currently studying Level 1 ICB by distance learning, with Kaplan. I started at the end of July and I'm still at it! I urgently want to get the job done but its taking sooooooo long.
My first read through of the 18 chapters of my study manual (taking notes as I went) took about 7 weeks. By the time I started my second read through I'd forgotten half of it! I'm now on my fourth time of going through the study manual and thankfully a lot of it is finally beginning to stick. Bought some of the books that have been recommended on this forum (AAT manuals etc) which helped immensely. But I'm still a long way off from being ready to sit my Level 1 mock exams and its turning into a big nightmare.
Are others here facing similar problems? - most people here seem to sail through level one so I'm not sure whats going on. I don't know if progress is so slow due to my study techique, text books, not spending enough time (7 - 10 hrs weekly on average), not having real life expereince of bookkeeping or what?
Quitting is not an option so any thoughts/ advice would be welcomed.
-- Edited by Ray2000 on Saturday 26th of November 2011 09:09:53 PM
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.................just an ICB student, at the moment.
To be honest, I'm not sure any of it really stuck in with me for Levels I and II. I just accepted what was being said. It was only when I was halfway through Level III that everything started to make sense. Maybe it was sticking in and I just didn't realise it.
As for study techniques, well I'm currently studying four different things at the same time.
ICB Level IV
Sage 50 Payroll Stage 2
Sage 50 Accounts Stage 3
Excel 2010
For ICB Level IV I have a spreadsheet which lists
Chapter No
Description
Page (the page the chapter starts on)
(pages) (the number of pages in that chapter)
Finally there are four boxes. I intend writing in the date I finish reading each chapter - I intend reading each one four times. I haven't made up my mind if I'm going to read each chapter four times before moving on to the next chapter or read the whole book and then start at the beginning again. I think I may go with reading the chapter two times then moving on to the next one. Working my way through the whole book. The repeating the whole process again.
There are 19 chapters in Module 1 (Management Accounting). There are four modules.
Next up we have Sage 50 Payroll Stage 2 and Sage 50 Accounts Stage 3 - it is a similar technique for both of these. There because Sage gives you estmated times for each chapter I have the following in a spreadsheet :
Level (2 levels for payroll, 3 levels for accounts)
Book (3 books/level for payroll, 4 books/level for accounts)
Section (approximately 20 sections for each level)
Sage's estimate of the time required (eg 70 minutes)
My estimated time I will finish section (eg 8:15pm)
Actual time I finished section (eg 8:40pm)
Time I am running behind (eg 25 minutes)
Date (the date I completed the section - I aim to complete the whole book in one day).
Mark (Sage online exam mark before the real thing)
For Sage 50 Accounts Level 1 and 2 and sage Payroll Level 1 I did each twice before doing the exam. For Sage 50 Accounts Level 3 and Sage 50 Payroll Level 2 I think I'll do them at least htree times.
That's got to be the longest post I've ever made on this forum. Not sure what the point of it was. In summary, you just need to keep doing it over and over again until it sticks because it eventually will. And then there will be the next course and then the next one - for the rest of your life.
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Never buy black socks from a normal shop. They shaft you every time.
excellent answer there from Peasie but I'm picking things up from a different angle.
Is the learning style that your using right for you?
All of us learn in different ways. Some learn in an accademic fashion. Some by doing. Some can last seven weeks between readings some can't.
From reading your post you're attempting to read the entire book then go back through it again but maybe the approach that you should have is building more repetition into your regime.
My approach if the read the chapter on day one, day two, day seven and day twenty eight.
There are generally lots of examples in the books. On a regular basis go through chapters that you've done and just do the excercises.
For key points use index cards and keep these with you always. If ever your waiting anywhere just take out the cards and work through them.
I have a title card in each stack. Move that to the back at a 90 degree angle.
Every question that I get right goes being the title card. Every one that I get wrong goes to the back of the stack of unattempted questions in front of the title card.
Eventually everything will end up behind the title card and the more that you do it, the faster it gets.
If this method works for you don't forget to shuffle the carrds each time otherwise you just end up memorising the answers in sequence!
There are well over a hundred reporting, audit and ethical standards and one of the stacks that I always have with me is that one.
Another one is for key points from every accounting standard.
You will find in your studies that you often have lists that you need to remember. For those try finding a word (doesn't even have to be a real word) that you can remember that is the first letter of each key thing that has to be memorised.
For instance. To memorise threats to auditor independance I use IFSAMS (Intimidation, Familiararity, Self interest, Advocacy, Management, Self Review). Or for approaches the risk if ATRA (Avoid, Transfer, Reduce, Accept). I've got dozens of these things!
In the exams knowing the full lists will score you brownie points.
All in all I think that the mistake that your making is in the distance between readings of a chapter being too long.
If your being driven to a schedule by the training provider but the schedule is out of step with your learning style then it can actually be counter productive.
Just as an excercise, find something that you are having real difficulty with remembering and try using the index cards method (question on one side, answer on the other). If it works for you then moving forwards use that along with increased repetition of your reading. Reading chapters repeatedly before getting to the end of a read through.
As an aside note you probably already know far more than you think that you do and it's the fear of embarrassing yourself in the exam that may be holding you back.
Maybe time to get hold of a mock paper and try doing it uunder exam conditions to see where your strengths and weaknesses lie.
Actually, on that note. When I say exam conditions I mean just that. You need a room where you will not be disturbed for the duration of the exam. Use an alarm to signal the end of the exam. Don't go off to make a coffee mid way through. Really sit it as though you were there.
Any mistakes that you make will just highlight area's that you need to concentrate on.
Hope that some of the above suggestions help.
If not you may actually be suffering from learning fatigue. It's a barrier so similar to the wall that long distance runners talk about. I tend to look on it as my brains full and nothing else is going in no matter what size tyre lever your using to get it in.
When that happens don't stop studying but go back to something that you know that you can do. (I tend to go back and do a simple three company consolidation question).
Just doing something within your comfort zone seems to clear the debri out of the way to launch back into studies outside the comfort zone.
As mentioned several times above though. Everyone's learning style is slightly different so really you need to concentrate on finding the style that's right for you and then develop it.
Good luck in the studies Ray.
HTH,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Peasie - I think that part of the problem is that I have studied up to Masters degree level in 'social science' type subjects. That sort of thing came easily to me - don't know why. I could read things through once or twice and have a reasonable chance of reciting something reasonably close to the original during tests / exams. With bookkeeping its completely different. Its about learning a procedure(s) inside out, and it HAS to be exact - and that takes time. You have an impressive system there - I don't know how you do it. I am going to try and follow it as it obviously works. I'm hoping that like you its sticking and I don't realise it.
Shaun - I suppose I'm in a hurry because of my job circumstances, really. I want to get qualified as soon as possible but learning this stuff is a bit like herding cats. As soon as you think you have got the hang of topic X, I move on to topic Y only to find that I've forgotten key parts of topic X a couple of weeks later!!!! I think the regular reading is vital and I will set up a system for myself as described. I also think the cards will help a lot. If I have all the facts on different cards I can move them about so that I can focus on the facts I don't know, more effectively.
Thanks again
Ray
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.................just an ICB student, at the moment.
Actually, when I think about it, I passed all my ICB exams reading it just the one time but by using a distance learning provider. I am using the technique now because I'm doing it on my own and there isn't any assignments as I go along for me to send in and be marked.
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Never buy black socks from a normal shop. They shaft you every time.
I have to say, I'm with Kaplan and they dont have assignments, just 2 mock exam papers.
I didn't think that mattered when I signed up with them as they provided a large book of practice questions. However, I think the discipline of completing a set of assignments would have been very useful for me.
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.................just an ICB student, at the moment.
I am sorry to hear you are having problems getting past level 1, you have had some really good replies here and I think based on what I have read you should have gone with a provider who gives assignments, horses for courses and all that, If things become impossible I suggest changing provider and starting again, ourselves and Ideal schools provide assignment based courses and dont forget the ICB offer £10 mock exams. Anyway good luck.
Dave
-- Edited by TRAINING LINK on Monday 28th of November 2011 08:26:41 AM
Firstly i'd like to say you are not alone. I started my bookkeeping in March earlier this year and just started my computerised level 2, so it has been very slow ( as other commitment, i.e kids)
I also went with Kaplan which i was also slightly disappointed that they did not do assignment which was what i kind of expected. Nether the less i used the materials given and bought other books recommended to me from Shaun and others and i passed my level 1.
When i got to my level 2 manual i re-read all the materials and level 1 started to sink in and make more sense.
I found it hard to keep to a regiment timetable, just read and did the practice book whenever i could. Just perserver and you will get there.
I found my biggest problem was keeping myself motivated when I did levels 1 and 2 with a distance learning provider. Much of that came from the fact I had no one to answer questions most of the time, as the support was poor. I got myself through it though.
Last year I decided to take a night class in HNC in Accounts and found that much easier. Not only do you have someone to stop and ask questions straight away, but you also get a chance to learn a bit from your peers about different ways to do the same thing. Sometimes all that is needed is someone to explain something a little differently.
As Shaun says, different people have different ways of learning best suited to them, it's just finding yours for this subject.
