icaew case study 2022

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How to Ace the Case

October 2021

Kieran Doe has some top advice on how to pass the ACA case study exam. And he should know – he scored 92% in it!

The Case Study is unlike most other ACA exams as there is very little technical content to learn. So students who are used to memorising technical concepts and them ‘smashing out the question bank’ will be perplexed when they are presented with over 40 pages of advance information and a case study exam paper seemingly testing very little from their other 14 exams.

However, the Case Study is actually very similar to other ACA exams in that the three exam requirements are always the same, as are the mark schemes. By appreciating the consistency in the exam requirements and the mark schemes, you can develop your exam technique to ensure that you tick all the ‘boxes’ on the mark scheme and complete your ACA qualification in style.

I believe that there are five steps to case study success:

Step 1: Understand how Case Study is marked

The marking process is objective: there is a set marking key for each requirement and if your report includes a point which is on the mark scheme, you will get the mark. While it can be frustrating that making a valid point which is not on the mark scheme does not score a mark, it does mean that the marking process is very transparent and easy to navigate.

Each requirement has 11 boxes and you need to pass six boxes on each requirement.

The Executive Summary has seven boxes and you need to pass four boxes. To pass a box, you need to get three of the points included in that box. You need to pass each requirement and the Executive Summary in isolation. Have a look at some recent mark schemes to see what I mean about boxes and points.

Step 2: Understand what each of the three requirements involve

As explained above, the three requirements are broadly the same in each Case Study exam.

• Requirement 1: Analyse the financial performance of the company.
• Requirement 2: Evaluate a financial proposal.
• Requirement 3: Evaluate an opportunity or issue.

The mark scheme for each requirement is also the same. This makes the exam predictable and by having a look at recent past papers, you will soon start to see the consistency in the requirements and build an understanding of what each requirement involves.

Step 3: Understand what information is provided in the AI and what is provided in the exam

In addition to the exam requirements and mark schemes being in the same format every time, the AI is also in the same format every time (albeit a different business with different issues).

By working through past case study exams, you will soon start to see that the AI always has the same exhibits with very similar types of information; industry background ; prior year accounts; customers; suppliers; strategic goals and risks. Likewise, the exams include the same exhibits with very similar types of information.

Having completed an exam, it is important to mark it and reflect on what information came from the AI and what came from the exam exhibits. You will soon start to see that most mark scoring points come from the exam exhibits rather than the AI. You will also learn which types of points tend to be rewarded in each box.

Step 4: Learn the Case Study exam technique which ensures that you hit all the boxes on the mark scheme

Having understood what the exam requirements are and how they are marked, you need to develop an exam technique which ensures that your report includes the points which are included on the mark scheme.

Fortunately for you, we have developed an exam technique which does this and it has resulted in two students wining the prize for the highest mark in the world (90% and 92%), another winning a prize for the highest mark in their region (88%) and another achieving the highest mark in their firm (81%).

Given the practical nature of the exam technique, it is not possible to explain this in text so click the link for a tutorial showing you exactly how to ace Requirement 1 and get a prize-winning mark – https://youtu.be/unvyelEwv6y

Step 5: Practice mock exams to master your exam technique

By this stage in your ACA journey, you will already know that question practice is key to success. Having learn the prize-winning technique, you then need to practice mock exams on your case study business under exam conditions so that you master the technique and sign off your ACA in style.

• Kieran Doe is a Senior ACA tutor at ACA Masters

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Advanced Level

The study packs for Corporate Reporting and Strategic Business Management include a:

• self-test questions and worked examples;
• study guide;
• module syllabus; and
• skills and technical knowledge grids
• Question bank

The Corporate Reporting supplement is aimed at students who have studied Financial Accounting and Reporting UK GAAP and are moving on to study Corporate Reporting, which is based on IFRS.

The study pack for Case Study includes:

• Digital workbook containing
• Two Case Study walkthroughs (containing marking keys)

The advance information and exams for each walkthrough are accessed on the ICAEW exam resources page. Make sure to visit the Exam Resources pages where you can access questions within the practice exam software, articles, errata sheets, study tips, examiner guidance, and study webinars that help to put your learning into context.

Advanced Level Case Study

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Having scored 92% in the Case Study exam, and winning the ICAEW prize for the highest score in the world, Kieran now teaches students the analytical skills and exam technique required to emulate this success. Under his guidance, one of our students also went on to win the ICAEW prize for the highest score in the world (score of 90%), whilst several others have won national and regional prizes.

You can watch the course introduction and a  FREE SAMPLE CLASS   below.

OUR PRIZE-WINNING TECHNIQUE

The course begins by teaching you the methodology for tackling the exam, as well as passing on prize-winning tricks and tips. Kieran provides a detailed walk-through of how you should tackle the Case Study exam, from initial AI analysis through to typing your report on exam day. 

The  next class is an exhibit by exhibit walk-through of the November 2024 AI, clearly demonstrating how each piece of information should be used in the exam. This enables you to understand the AI in an exam focused way.

The following classes  debrief our November 2024 mock exams where Kieran teaches you exactly how you should have read and interpreted the exam as well as how you should have typed your answer, with reference to his prize-winning model answer.​  The classes provide detailed advice as to how you should work through each requirement. This enables you to fully understand how to apply the prize-winning technique to your particular Case Study business and the type of points you should include in your report. 

Classes which are based on the November 2024 AI will be added to the course after the AI has been released. T he release dates for the classes can be found on the course structure document below. 

PAYMENT AND ACCESS

You can subscribe to all the classes for £395 and enjoy a viewing period of 12 months.

Please click  HERE  to purchase. Once payment has been made, you can view the full course  HERE . ​

Please note that our November  2024  PDF materials are sold separately from the video course .

​ ​ PASS GUARANTEE 

In the unlikely event that you fail your exam, we will extend your access until you pass your exam. This includes access to any additional content we upload in relation to subsequent Case Study businesses.  There will be no extra cost to you. This reflects our commitment to getting you qualified, as well as the confidence we have in Kieran's track record. 

AI ANALYSIS AND PROFORMA REPORT

Our prize-winning Case Study tutor Kieran Doe has developed our Proforma Report and AI Analysis. ​

This includes:

Comprehensive AI analysis which identifies all the key facts and figures, showing where they are likely to appear in the exam.

A proforma report to use in the exam with reminders of the points to include in each section.

A list of probable exam scenarios and a reminder of the key points to include. 

PAYMENT AND DELIVERY

The price of our  AI Analysis and Proforma Report PDF d ocument is £75. You can purchase using a credit or debit card below from 1 October .

You will receive an email containing a link to download the PDF document within 5 minutes of placing your order. You may print the document for your sole use.

Please ensure that you check your junk mail in case your email settings divert our emails to junk. 

OUR PRIZE -WINNING TECHNIQUE

The course begins by teaching you the methodology for tackling the exam, as well as passing on prize-winning tricks and tips. Kieran provides a detailed walk-through of how you should tackle the Case Study exam, from initial AI analysis through to typing your report on exam day.

You are then given the opportunity to put these skills to the test with a series of mock exams based on the November 2024 AI. You will be required to complete the exam in your own time using the ICAEW CBE software and submit this before class. Your tutor will perform a detailed review of your attempt so that class time can be spent coaching you on the specific areas where your report requires improvement. In addition, Kieran will explain exactly how the exam should have been tackled and demonstrate this with his prize-winning model answer. 

The key difference between the Video Course and the Live Course is that the Live Course includes three live classes where your tutor will give you detailed feedback on how and where you need to improve to score a higher mark. 

TUTION FEES AND BOOKING

The tuition fee is £1,100 plus VAT .  This includes: ​

Proforma reports to use in the exam with reminders of the points to include for each section.

AI  analysis document which identifies all the key facts and figures, showing where they are likely to appear in the exam.

A list of probable exam scenarios and a reminder of the key points to include.

Mock exams, marking grids and model answers which demonstrate exactly how you should write your points in the exam.

Access to all our Case Study video classes which are used as a preparatory and revision tool.

Please contact us HERE  for availability and course dates.

In the unlikely event that you fail your exam (we had a 100% pass rate in most recent exams), we will automatically enrol you on subsequent courses until you pass your exam. There will be no extra cost to you. This reflects our commitment to getting you qualified, as well as the confidence we have in our track record. In order for the pass guarantee to apply, you must attend all classes and complete all required work. 

MOCK EXAMS, MARKING KEYS AND MODEL ANSWERS

Our prize-winning Case Study tutor Kieran Doe has created our mock exams, marking keys and model answers.​

MOCK EXAM 1  1

Mock exam 1 and marking key

Prize-winning model answer which demonstrates exactly how you should structure your report and the points to include​

A sample is included below. 

The price of our  Mock Exam 1 PDF pack is £50 . You can purchase using a credit or debit card below from 1 October . 

You will receive an email containing a link to download the PDF document within 5 minutes of placing your order. 

MOCK EXAM 2  2

Mock exam 2  and marking key

The price of our  Mock Exam 2  PDF pack is £50 . You can purchase using a credit or debit card below from 8 October . 

MOCK EXAM 3  2

Mock exam 3  and marking key

The price of our  Mock Exam 3 PDF pack is £50 . You can purchase using a credit or debit card below from 30 October . 

Having failed Case Study TWICE, I had seen this course pop up on YouTube whilst I tried to figure out where I was going wrong. Took the plunge to change resource providers and honestly, there are NO words to express how grateful I am! Kieran and the team guide you with a CLEAR and CONCISE approach which really helped me focus on what I needed to improve on and what I was previously doing wrong.

From past failures of 48 & 36 previously, to now a gratifying pass of 74, I am honestly on TOP of the world!!! Don't hesitate - book before its too late, honestly you won't regret it!!!

(Case Study resit student who passed first time with us)

Exam statistics

The pass rates for the Professional Level exams are shown below.

View the summary of results.

ACA Advanced Level CR/SBM/Case November 2022

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Tax news in brief

Author: ICAEW Insights

Published: 30 Jul 2024

Tax exemptions for postmasters

Making tax digital (mtd) private beta testing.

• Voluntary Class 2 NIC foe 2022/23

New HMRC public service pensions remedy newsletter

International tax round-up, share this article.

Regulations have been made which exempt payments made under the Horizon Convictions Redress Scheme and the Horizon Shortfall Scheme (HSS) Fixed Sum Award from income tax, national insurance contributions (NIC) and capital gains tax. In addition, the payments are relieved from inheritance tax, and HSS Fixed Sum Award payments are exempt from corporation tax.

The regulations come into force on 16 August 2024, and have retrospective effect from 13 March 2024 for tax purposes. HMRC will use its collection and management powers to not collect NIC on payments made before 16 August 2024.

Further information

The Horizon Convictions Redress Scheme and Horizon Shortfall Scheme Fixed Sum Award (Tax Exemptions and Relief) Regulations 2024, SI 2024/818 The Social Security (Contributions) (Amendment No. 4) Regulations 2024, SI 2024/822

Government policy paper: The Horizon Convictions Redress Scheme and Horizon Shortfall Scheme Fixed Sum Award — tax treatment

HMRC has updated its MTD guidance to make it clear that when volunteering to join private beta testing you have to sign up all relevant income sources. This means that it is not possible to sign up only one of multiple trades, and if a taxpayer has income from self-employment and property both must be signed up. The HMRC guidance on agent authorisation has been updated but is still rather unclear. The key point is that, if an agent is already authorised for self assessment and the government gateway account for the relevant HMRC online services for agent is linked to the agent services account, the agent authorisation will be copied across. This is not clear in the agent services account which shows which credentials are linked but not which clients have been copied across. Linking government gateway accounts is dynamic and works even if a self assessment authorisation is set up after the two accounts were linked. Further information: Signing up for MTD | ICAEW

Voluntary Class 2 NIC for 2022/23

HMRC has provided an update on the issue outlined in the article Voluntary class 2 NIC repaid in error | ICAEW . HMRC has now been able to identify the 8,000 individuals affected by this HMRC error and will write to them in September 2024 to explain how to reinstate the voluntary class 2 national insurance contributions (NIC) for 2022/23. The process is cumbersome, but it is none the less important for individuals to monitor and manage their NIC record to avoid losing out on state retirement pension in the future.

HMRC has published its public service pensions remedy newsletter for July 2024. The newsletter includes an update on work to improve HMRC's calculate your public service pension adjustment service, which is temporarily closed.

CFE Tax Advisers Europe (CFE) has published a summary of its top five tax developments for the period to 29 July 2024. This includes a summary of the Organisation for Economic Co-operation and Development’s report on taxation presented to the finance ministers and central bank governors at the G20 meeting held in Brazil last week.

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This guidance is created by the Tax Faculty, recognised internationally as a leading authority and source of expertise on taxation. The Faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.

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