For this tip, we are going to recommend that you prepare for the FR part of CR by practising using a "batch-based" revision process. What does this mean?
The CR examiners are definitely "creatures of habit" when it comes to FR questions. This means that each time a particular FR topic is tested, the question wording and (even more so) the answer wording tends to be extremely similar each time.
So we think that one of the best ways to prepare for the FR element is to practise one FR topic at a time by dipping in and out of parts of the questions, rather than attempting all the different FR topics in a particular full question.
For example, you could practise a "batch" of 4 or 5 questions on Deferred Tax only, one after another. Not much fun but potentially a great way to learn.
This way, you will see the patterns and master one thing at a time, rather than becoming overwhelmed.
We provide a detailed index of the key FR topic areas as part of our CR Masterclass interactive on-demand course: this index allows you to attempt all the available CR and FAR examples on a particular topic using this "batch-based" approach. We then provide a tutor talkthrough of all those questions and related model answers as part of the course.
Our CR Masterclass interactive on-demand course contains tutor talkthroughs of all available past paper and ICAEW Mock FAR questions on "explain the IFRS treatment" as part of the course resources (together with interactive questions mixed into the videos to ensure that you have retained the key takeaways from each example question). As we know that this approach works, the course comes with a full Pass Guarantee. Click here to learn more about our Corporate Reporting resources.