Of course, theory research is only one aspect of accounting. In fact, it’s really only one aspect if you compare it to the other parts of learning. Management accounting itself covers a vast number of topics, and each of these can be further sub-divided into even smaller parts. Therefore, to effectively learn all of these things, you need to have a comprehensive teaching plan.
This means that you need to do lots of theory to research, but you also need to do a lot of practical work, too. You should set up mock exams and work through the theory points, answering questions. You should prepare for the exam as if you were going to take it yourself. It’s important to get a full understanding of all of the concepts before you even start taking a managerial accountant exam. That is why it is so important to use mock exams and mock examinations.
The main aim of the theory research is to get you prepared for the exam. However, this doesn’t mean that you do not have any work to do before you go to the exam. In fact, it is actually the other way round – you work on your concept during the day and then go over it in your head at night. You should write your notes as soon as you can and make sure you understand everything you read. You should also spend some time doing some brainstorming and trying to work out ideas where there are errors.
It can be a good idea to use a study guide with lots of different topics. You can then work through the different parts of the guide at your own pace. You can choose the topics that you want to study very carefully and then try to fit in some time at the end to complete the remaining topics. As long as you are studying in groups of three or four, this should not be too difficult.
When you start your study, you should decide how much time you need to devote to each section of the guide. If you are busy with other work or family life, you may only have a few hours per week to devote to your studies. In this case, make sure you keep to a schedule. It is not always easy to keep to a timetable, though, and you might need to adjust your study times to suit your daily life. You may find that you study later in the evening because your work needs more attention than your family obligations do!
As you start to do your practice papers you will need to set some goals for yourself. Write down these goals and make sure that you keep to them. Also, set yourself some timetables so that you know how much time you need to complete your work. Sometimes it can be difficult to stay on schedule if you are getting too distracted. Find ways to deal with distractions and you should be able to get through your work without too much trouble.
It can be important for you to be prepared when going into the managerial accountant role. You will need to learn about taxation, risk management and company control, just to name a few things. As you complete your theory research and your practice papers you will be ready to start looking into these subjects. You may also need to get some professional experience if you are planning on being an administrator or director of a company.