Zoe Robinson Why question practice really does work

ZOE ROBINSON

Why question practice really does work

As students get closer to the real exam they become more aware of the importance of practising questions. The logic is simple: if you practise questions that are similar to those asked in the real exam the more likely you are to pass. But why? The answer can’t be that you will remember the answers because you won’t be set the exact same questions, so how does practising a similar question help you answer a different one?

Commonly referred to as ‘retrieval practice’, the reason question practice is so effective is because it forces you to reflect and bring past information forward to learn again. This process of reflection is not easy; in fact it’s the difficulty, or to be precise the effort, you put in that makes it so valuable.

Retrieval practice is a wellestablished theory, and research has shown how big a difference testing can have. In an experiment, two groups of students were selected, with one group having a quiz every day. Both groups were then given a test that included questions that were either the same questions as in the quiz, similar questions to the quiz or different questions but on the same subject. The students that were quizzed on the course scored 21.8% higher than the control group on questions seen before, 17.6% higher on the similar questions and 12.7% higher on questions they had never seen.

So the next time you’re choosing between reading your text book or doing some practice questions, you know the right choice to make!

Zoe Robinson is Learning and Programmes Director at Kaplan Financial

AQ2022 to drop synoptics

AAT will stop referring to the foundation, advanced and professional qualification stages when it introduces AQ2022. Instead, from 1 February, it will be Level 2 Certificate in Accounting, Level 3 Diploma in Accounting and Level 4 Diploma in Professional Accounting.

PQ magazine also understands that the synoptic assessments are all going.

At the foundation level (Level 2) it will be replaced by The Business Environment paper. Gone too at

foundation is the Use of Accounting Software assessment. However, AAT PQs will still be expected to know the advantages and disadvantages of computer software. There will also be an expansion of tax awareness at the lower level, and the principles behind the tax system. The big changes, according to tutors, appear to be at Level 3. One thing that is certain is that technology has arrived with block chain (and Bitcoin), AI machine learning, data analytics, cloud accounting and

ICAEW to go carbon neutral

ICAEW has said that it intends to become carbon neutral in 2020.

A long-term champion of sustainable issues, the institute will become the first major professional body to be carbon neutral. On top of this, ICAEW’s board has promised to continue to cut internal carbon emissions.

Climate change and sustainability are embedded into many modules of the ACA syllabus, and ICAEW recently signed the Green Finance Education Charter, committing it to building green finance into its qualifications. real-time data all coming into the assessments. There will also be more emphasis on money laundering.

At Level 4 the AAT is working hard to stop the duplication that appears in the tax papers. We understand there will be no IHT calculations in PTAX and no R&D in BTAX. Fixed overhead variances are back at this level and students will study both internal and external auditing. With the synoptic gone the new replacement is Internal Controls and Technology, which aims to be more ‘real world’. Cyberattacks, for instance, will be covered.

Since 2015, the institute has cut its carbon footprint by 20% through internal initiatives such as the installation of energy-efficient LED lighting. ICAEW has also pledged to cut overseas travel and to provide incentives for electric vehicles for those who drive for work.

These and other projects will see its footprint decline by 20% by 2025 and 40% by 2030.

Accountants ‘key workers for UK plc’

Small businesses are heralding their accountants’ increasingly critical role in keeping them running since Covid-19 arrived, considering them to be among the ‘key workers’ of the post-pandemic economic recovery, according to new research.

The study by global small business platform Xero found 43% of small business (SME) owners said that their accountant has been crucial to their pandemic survival, with 37% saying their accountant helped them retain staff during the height of the lockdown.

However, while one-third (32%) of SME bosses turned to their accountant for business advice when Covid-19 struck, 34% turned to government websites and resources, and 15% used friends or family.

Almost half (45%) of small businesses said their accountant is more important to their business than ever before, while 14% said they have turned to an accountant for the first time. Meanwhile, 38% of SME owners said they have built closer relationships with their accountants in recent months.

KEY WORKERS IN THE ECONOMIC RECOVERY FROM COVID-19 1. Delivery drivers/postal workers 2. Technology firms 3. Accountants/bookkeepers 4. Political leaders 5. Mentors/business coaches

UK audit governance changes for Deloitte Deloitte is establishing an independent Audit Governance Board (AGB) as part of the changes to its audit governance structure. Margaret, Baroness Ford of Cunninghame, will take up the post of independent non-executive chair of the AGB, along with the other independent non-execs, which include Jim Coyle, Almira Delibegovic-Broome QC and Shirley Garrood. Finally, to help provide a more diverse perspective to the AGB, it has set a Colleague Advisory Forum, made up of staff from a range of grades and parts of the business. This is in line with the Corporate Governance Code. More focus on ethnicity pay gap The number of UK companies calculating their ethnicity pay gap has grown significantly in the past two years, according to a study by PwC. A survey of more than 100 firms that collectively employ more than a million people found 67% are now collecting ethnicity data (up from 53% in 2018). For the bulk of companies not yet calculating their ethnicity pay gap, the most common reason for not doing so is a lack of ethnicity data. Most of those not collecting data put it down to GDPR restrictions, while others expressed concerns around low response rates, HR system capabilities or unease about how to ask questions around race and ethnicity. • PwC has been voluntarily reporting its ethnicity pay gap for four years. EY UK adds 65 equity partners EY is strengthening its UK partnership with the appointment of 65 new equity partners. They consist of 26% women and 19% ethnic minority partners. This includes 25 partner promotions from within EY, which the firm says reinforces its commitment to nurturing homegrown talent, with 40 external hires. The appointments are closely in line with last year’s intake of 57 equity partners. In 2019, EY set targets to double the size of female and ethnic minority partners in its UK business to 40% female and 20% respectively by July 2025.