I am sure that you have all read the blog post that focuses on answering discussion questions in tax. Regardless of which subject you are dealing with, before you answer any question(s) there is a vital component of your examination technique to perfect – you need to read the information provided to you, as well as the Required, efficiently and effectively.
When reading the information in a scenario, you must ensure that you extract the important aspects thereof.
When you read the Required you should consider the following:
- Identify all components of the Required. One Required may need more than one action to be performed.
- Are there any assumptions you must make when answering the Required?
- What is the scope of the Required? You may need only prepare one or two columns of a statement of changes in equity rather than the entire statement.
In this video, recorded as part of the UCT Board Courses ITC 2014/2015 online content, we have a look at what information in the question and the Required is useful to candidates seeking to score well in the paper.
We have used the 2011 ITC question (Paper 4, Question 1), Gateway Ltd, available HERE in its original context.