Candidates undergoing the Chartered Accountants Program are encouraged to develop a critical file and there is no reason university students shouldn’t too. The main aim of the critical file is to provide students with an exam tool which alleviates some of that unnecessary pressure. It provides you with some direction on how to answer an exam question. Your aim is to do as much thinking as possible, outside the exam room.

For most, the exam is an extremely stressful situation. Issues and calculations which seem so clear outside the exam room are somewhat cloudy under exam conditions.

The critical file focuses on your exam technique. When you step into the exam room, you have three hours to demonstrate the knowledge you have accumulated over the module.

What are the benefits of having a critical file?
The exam is a point scoring exercise. You need to be able to access information readily and translate that to the examiner. Whilst exam pressure can never be removed completely, you will feel more confident of success by having concise notes which provide you with a starting point for structuring your response.

What generally does not work?
The critical file is an individually tailored file. The content and layout may vary from student to student based on your knowledge level and learning style. Based on feedback we recommend that you do not:

1. Use your text books as your critical file
   Your text book is designed to assist initial learning. Topics are discussed in discrete topics, you learn one skill and complete an activity on that topic, and then you go on and learn another skill. Exam questions assess your ability to integrate issues from various topics.  Your critical file needs to cater for this.



2. Include too much theory
   Consider a past paper and the style of questions being asked. It is highly unlikely you will be asked to provide a definition on a particular matter. You will be asked to demonstrate higher order thinking skills, such as calculate, analyse and advise. Accordingly, if your critical file focuses on definitions rather than application, you are restricting your chances of success during the exam.



3. Have a critical file which is concise
   To be effective, notes must be concise. You should be able to condense topics into a 2-3 page key summary which includes the points below. Otherwise the critical file looses its effectiveness by having too much information which cannot readily be accessed.

What should be included in your critical file?
Look at past exam questions and examiners comments to assess the style of questions you could be asked.  Consider what material would be helpful in answering the questions. We recommend that you:

1. Use referenced worked examples. Worked examples which identify key concepts and show you how to perform a calculation are more value than definitions.



2. Set up templates.  Many exam questions follow standard formats which require you to demonstrate an understanding of relationships and concepts.



3. Use flow charts or concise tables which consider various options. Analyse alternative solutions before you go into the exam.



4. Use mind maps which identify links between topics and concepts. Your critical file should pre-empt potential links. Place yourself in the examiners shoes and ask what question could I ask on this topic?



5. Establish a step-by-step approach for complex areas in the subject. Do not ignore hard topics – this could be costly in an exam. Instead break the issue down into a process of steps. This should allow you to gain valuable marks in an exam.

Effective critical files take a considerable time to construct. They are a continual work in progress. You know you may not get full marks, but using the material you prepared earlier, you know you can get a few. And that may be the difference in passing or failing!