Help, I’ve Failed an Accountancy Exam!
If you fail an accounting exam, it can sometimes feel like the end of the world. This could be the first time you’ve ever failed an important exam. Believe me, it isn’t the end of the world.
Let’s get you through your resit in style.
I was sitting ACA exams in threes when I failed two of the three exams I’d just sat. These were some of the early certificate-level exams and I was horrified! I’d worked so hard, completed all the mocks, completed all the online tests…but at the end of the day, I hadn’t fully understood the important concepts needed to pass the exams. My exam technique was probably not great either i.e spending too much time on some questions and not enough time on others.
I’d always been relatively high achieving through school and university, but I now seemed to be really struggling with these accountancy exams. Turns out, I was an undiagnosed dyslexic person when I failed these exams (a story for another day) but putting that to one side, there were still things I could have done to improve my chances of success.
Furthermore, it’s imperative that once you’ve failed an exam, you put a plan in place to guarantee success in the resit. No-one wants to be back feeling the same way after another exam fail.
So here are my top tips for passing your next exam:
Take a breather:
Ensure you give yourself some time to dust yourself off before you open the books again and study for the resit. Do you need a few days, a week, or even a month? Talk to your employer and be honest about how the exam fail has affected you. Whilst you are having this break from studying, look after yourself. Perhaps cook some healthy meals, get back to doing regular exercise, watch a new TV show, arrange something fun with your friends. The purpose of this is to feel refreshed for when you need to be head-down and preparing for the resit.
Be strategic about choosing a resit date:
Talk to your employer about when you have the opportunity to resit the exam/s. Think very carefully about the timing and if you will be ready to pass. If you don’t think you will be ready in say, 2 weeks time, ensure you speak to your employer about pushing that date back. I’d strongly recommend giving yourself a bit more time than you think you will need. It’s much better to be confident and pass, than fail for a second time.
Find a private tutor or exam coach:
Think about any additional support you might need. Accountancy Hub has a directory of exam and career coaches, and private tutors, who can supporting you through your exams and boost your confidence. Contact us about discounts so we can ensure you are getting the best possible price for your tuition or coaching.
Develop a study plan
And stick to it. Work backwards from the resit date and think about what you need to cover. What do you have in your calendar work-wise? Will this impact the time you can allocate to studying? Do you work better in the mornings or the evenings? Is there anything you can do at lunchtimes to test your knowledge (like a quick quiz)? Yes, the next month or more might be a bit intense, but it will be worth it. And then you can relax and celebrate, knowing you did all you could.
Reframe the fail:
Frame this as an opportunity to become more confident and technically proficient in key accounting concepts. It is likely that this exam will be build upon in future exams so imagine how great it will feel to be more prepared for the next level than you thought you’d be. Then you can smash the next exams! Just because you have failed a particular exam does NOT mean you will fail any more exams. All of the exams are very different and we all have our different strengths. In fact, you are likely to be much more prepared for future exams because of the additional work you’ve undertaken during the resit!
When I’m not running Accountancy Hub, I coach trainees who are heading towards a resit. If you’d like investigate coaching with me then you can reach me on hannah@accountancyhub.co.uk.
