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case study

depending on whether it is assessing the depth or breadth of coverage under the particular sub-skill. There are five sections under which the key is organised: executive summary (ES);  three main requirements; and  appendices.  Depending on the particular exam, there are two to five boxes per skill per main requirement. All four skills will always feature under each requirement. For each box under each section, competence is graded along a scale, moving upwards from Not Attempted (NA) through Insufficiently Demonstrated (ID) and Insufficiently Competent (IC) to Sufficiently Competent (SC) and Clearly Competent (CC). SC and CC are passing grades. A typical student will inevitably achieve a mixture of grades within each section and between sections, and will need around 50% passing grades for each main requirement to earn an overall pass.

A typical student will achieve a mixture of grades, and will need around 50% passing grades for each main requirement to earn an overall pass

have always seen in better students and which they want to reward more appropriately in future.

The Case Study examining team explains some modifications being made to the marking key from July
he Case Study (CS) is assessed on a 10-page marking key. This key, which is specific to each exam, enables the examiners to reward those candidates who answer the requirements to an appropriate level of detail.

On the case
advance information, own research and the exam paper to do basic calculations;  structuring problems and solutions (SP&S) analysing figures, and commenting on the results of the analysis and the underlying assumptions;  applying judgement (AJ) considering linkages and implications, looking at the big picture; and  conclusions and recommendations (C&R) highlighting key points, concluding on both sides of an argument, making a choice and

In addition, to aid the ease and consistency of marking, double boxes (where a skill is assessed according to two criteria) are being phased out, and there will be a continued move away from framework towards range boxes, with the former now generally limited to the ES (see below).

explaining why, giving a range of relevant action points. Within each of these, there are several categories or sub-skills that could apply to a given exam. For example, AU&I includes sub-skills such as describes wider context and identifies business issues. Under each sub-skill on the key, a list of items in bullet-point format is provided. This represents the main points that the examiners are expecting to see and is referred to as a box. Each box is further classified as either range or framework ,

Overall layout of the key The CS is marked using competencybased assessment. The examiners are looking for you to demonstrate competence in four skills: assimilating and using information  (A&UI) taking relevant data from the 18

Change 1: Number and type of skills boxes Until now, there have been 42 boxes in total. This is being reduced to 40 10 per main requirement, six for the ES and four for the overall paper to reflect the examiners assertion that all requirements are given equal weighting and so should be given equal attention by the student. Students who spend most of their time on one or two requirements and make only a superficial attempt at the other(s) will not do as well as those who can better manage their time and effort.

Change 2: Appendices and overall paper (integrative and multidisciplinary skills) The back page of the key covers skills to be demonstrated throughout the paper, including the appendices, rather than those specific to individual requirements. There will now be four boxes, expanded from the two previously in place: appendix content;  appendix style and use;  report structure; and  report style and language. 
The increased weighting for appendices recognises the time spent by students in preparing them. Production of wellstructured, user-friendly, relevant appendices is a skill that the examiners

Change 3: Executive summary (ES) The ES section of the key was previously structured like those for the three main requirements. As from November 2011, each column now corresponds to a main requirement and has two boxes, representing the broad areas/skills that the examiners are expecting to see in relation to each requirement. The first box typically includes aspects of A&UI and SP&S, while the second covers AJ and C&R. The new structure does not alter the need for a concise summary of key facts and findings from the report; rather, assessing the ES in this way reflects the format that most candidates use. Finally, it is worth reiterating that none of these changes should affect how the CS is taught, how you do your preparation or how you write in the exam. A report which does the following will still receive a high number of passing grades: uses relevant information;  provides suitable analysis;  shows appropriate judgement;  offers sufficient conclusions and  recommendations; and covers all the requirements in a  reasonable depth.
This will enable candidates to achieve the ultimate result for which they are aiming: success in the Case Study and another step closer to qualifying as an ICAEW Chartered Accountant.

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july 2012 vital

vital july 2012

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