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The Secrets to Passing ICAN PE1 Exams (Part 1)

INTRODUCTION For the average Nigerian Accounting Graduate, the next part to career advancement is the ICAN exam. This is particularly useful especially with the rate of unemployment in the country. They (the graduate) believe getting the ICAN qualification will enhance their employability. This is also TRUE because most job vacancies today require the qualification. The road to getting this qualification is not an easy one I must tell you but following some secrets that I'll be sharing here is going to make the process less tedious and the qualification quicker to obtain. Before I go on with the secrets, you must have at the back of your mind that the purpose of the exam is not just to land you your dream job but also to make you a thoroughly breed professional. The ICAN PE1 exam is the first stage to write as an accounting graduate from an ICAN accredited institution and this stage comprises of four subjects, including Financial Accounting (FA), Management Accounting (MA), Advance...
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The Secrets to Passing ICAN PE1 Exams (Part 2)

...continuing from Part 1... Tackling Financial Accounting These days Financial Accounting (FA) has proven to be a bit difficult. This is not unconnected with the recent adoption of the International Financial Reporting Standard (IFRS) by the Nigerian Government in 2012. Most ICAN candidates were drawn aback as there were limited materials to prepare for the exams. The only new thing that happened to FA is the approach the examiners have adopted. The focus is now on the standards. You must familiarize yourself with the standards that relates to published accounts and group accounts. The FA syllabus is divided into major topics; Group Accounts, Published Account, Bankruptcy, Interpretation of accounts, Miscellaneous Accounts and Specialized Accounts. Note that I didn't mention standards. The reason is that from IAS 1- 41 to IFRS 1 - 13, they all talk about the major topics I listed above. Your major concern should be to understand, Group, Published, interpretation and Bankruptcy Acc...
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