My Personal Study Techniques -
Part 2 and Take Ways so far…
In addition to outlining all of
the chapters in Word, I’ve also created an Excel document that lists out all of
the formulas that appear in the text.
The Excel document also includes columns containing the page number and
chapter where the formula is found in the instance that I need to reference the
formula or an example problem. The Excel
document also contains the definition of undefined variables and additional
notes pertaining to the context of the formula.
I hope that the Word outlined notes and the Excel document will serve as
references for quick review during the latter stages of my studying progress after
I’ve read through all of the chapters.
Specifically, the Excel document will serve as a formula reference guide
which I hope to use either directly to memorize formulas or can be turned into
flashcards. The Word document can also
be used later to create flashcards for definitions of any unknown content. In addition, the process of taking notes
allows me to really focus on the material and the concepts, as I am reading for
main points and trying to understand and translate the topics.
So far, I have been able to read
and take notes through all the first three Modules, Chapter 1-7, using the
above study techniques. This is also the
same point where I had to stop studying and deferred my exam for the June/July
session. Therefore, this is actually my
second time completely reading through all of the material in Chapter 1-7. So far, I’ve noticed that Chapter 2 – Financial
Regulatory Environment and Chapter 5 – Financial Planning and Analysis will
require some extra review and memorization.
Chapter 5 will require a large amount of formula memorization as it
covers future value, present value, various financial ratios, Return on
Investment, Free Cash Flow, and Economic Value Added, just to name a few. All these formulas and their applications
will have to be studied extensively as there will be no formula guide during
Chapter 2 does not contain a large
amount of formulas, but since it covers the regulatory environment, it contains
information on the various regulatory boards, agencies and departments, as well
as legislation relating to the regulation of financial institutions, payment
systems, financial crimes, consumer protection, bankruptcy and others. Chapter 6 – Introduction to Working Capital
Management also covers U.S. legislation around credit and collections. Differentiating between various legislation
and agencies/departments will require in depth studying as well.