ACCT1511 Accounting and Financial Management 1B Final Exam Information - 2017s1

Structure of final exam paper:

Duration: 2 hours
45 MCQ: 45 marks
3 Written Questions: 15 Marks
Total: 60 Marks

Notes:
The final exam covers all topics and materials for this course. The exam paper is equally divided
among the content for topics, but the written exam questions may focus on selected topics.
The weight for each written question may be different from that experienced in past exam
questions completed in seminars. This is due to the different length of time allowed for past exam
papers and the different percentage contribution to the overall mark.
To obtain the full mark for the written questions, you need to support each answer with pertinent
information from the question or from your general knowledge. Your answer must be relevant to
the question being asked.
Half marks are not awarded; i.e. 1 mark for correct answer(s) or zero. You need to make your
argument to the satisfaction of the marker. The marker will not second guess you or assume that
you know something that is not clearly written down in your answer. If your answer is not clear,
no mark will be awarded.
Do not leave your answer boxes blank. No answers mean no marks.
In the past, some students have found the final exam in this course difficult. Last semester, a little
over 30% of the students failed to achieve a grade higher than 30 out of 60 on the final exam. At the
same time, some students did not have a problem with the final exam and achieved a well-deserved
high distinction. There is a clear correlation between the final exam mark achieved and the effort put
into studying and understanding of the material.
In this regard, I want to stress the importance of not being complacent and not underestimating the
final exam. While some of you are doing well in the quizzes in seminars, I would like to point out that
you might find the final exam somewhat harder. The differences are quite obvious, but worthwhile
pointing out:
the final exam covers all the topics, whereas each quiz administered in the seminars covers only
a portion of the course;
although the format of the written questions in the final exam will be similar to the tutorial
questions, the questions themselves will be different and you have not seen the exact same
questions before, whereas you know that the quizzes administered in the seminars are related to
the homework questions;
the final exam is closed book, but the quizzes administered in the seminars are open book.
In our experience, the students that do well on the final exam are the students that understand the
material, and have not focused on memorising answers. You can only achieve this understanding by
studying (which we cannot do for you) and the resources made available in the course - e.g. lectures,
seminars, PASS classes, consultations, videos, textbook readings, prep questions, seminar questions
are here only to help you study. So use them wisely. Lastly, and while we are aware that the final
exam consist of 45 multiple choice questions, do not fall into the trap that you can simply guess your
way through this section. Again, in our experience the students that do best on the final exam, are
those students that are able to derive the correct answer from the information, and not the students
that aim to eliminate incorrect answers.

While I hope this does not apply to you, but if you find yourself at exam time and still struggle with T-
accounts and journal entries, because you have only memorised content instead of trying to
understand it; and/or you find it difficult to apply an underlying principle to facts; and/or have done
little preparation and did not attempt all the seminar questions, you may like to consider enrolling
again in ACCT1511 for semester 2, 2017.