Studying for TC? It's time to get back to basics
The TC exams are only a few weeks away, which means that many of you will be spending a lot of time at your desks revising.
ICAS tutors have put together a series of Back to Basics guides to many of the subjects that students have found tricky in the past. They are a great place to start if your question practice has flagged up areas that you need a firmer grounding.
Joanne Lloyd-Jones, TC Level Controller, said: “The preparation you do for TC exams is crucial for TPS and TPE too. TC is the foundation for the rest of the CA Qualification and so it is best to iron out any problems and misunderstandings now.
"We know that areas of the TC material can be tricky and the Back to Basics guides are an effective and very efficient way of checking your understanding of key concepts and calculations.
“If you are still confused, ask questions as soon as possible. Your tutors are there to answer your questions and get you through the exam and they will be happy to help you.
"Use the progress tests and mocks as important revision tools too, making sure you understand all of your wrong answers. Try and learn everything!
"Do not waste time guessing what will or won’t be asked in the exam. Remember that the aim of TC is to achieve a solid foundation, so any gaps in your TC knowledge will only cause problems at the TPS and TPE levels.”
Here are the Back to Basics guides:
- The joys of costing - part one
- The joys of costing - part two
- Audit risk
- The Responsibility of Directors
- Calculating the cost of debt
- Contribution: What is it?
- Business management strategy
- Corporation Tax Computation
- Calculating a tax-adjusted trading profit and loss
- Understanding net present value
- Internal Rate of Return