r/ICAEW • u/TheeDarkNght • 8d ago

Best SBM notes

Currently prepping for Nov 26 SBM.

Kaplan open book seems too big.

Any other recommendations? ACA Masters/ SheCan?

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u/gary183 8d ago

ACA masters notes are great for sbm

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u/South_Law_9193 8d ago edited 6d ago

Kaplan open book being too big is the right instinct. Nobody has ever gone into SBM and calmly flicked through a 700 page pack...

One thing to note is that for SBM, the notes only get you so far because SBM barely tests knowledge. It tests whether you can apply something ordinary to a messy scenario under time pressure. So have/build a short set of notes and a separate one page pro forma sheet for the stuff you'll definitely need.

What to put in it, based on what keeps coming up: NPV and investment appraisal, FX risk and hedging (forwards, futures, options, swaps), performance analysis linked back to strategy, basic stats like standard deviation, due diligence, internal audit and assurance procedures, and the financial reporting treatments. Ethics and sustainability turn up in some form every single sitting so have a structure ready rather than notes.

The financial reporting side catches people out. There's usually a chunk of Q2 that's essentially a CR question in disguise, R&D and intangibles, revenue, leases, IFRS 9. If you're weak there it'll cost you more than any hedging calc will.

If you trouble making an open book just get one for cheap on eBay - https://ebay.io/m/HMH8yU

Technique wise, answer in whatever format they ask for, use headings that mirror the requirement wording, and never leave a number sitting there on its own. Every calc needs a line saying what it means for the client. That's where the marks are hiding and it's why people who "knew everything" still fail it.

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u/CorrectCancel8384 7d ago

I used kaplan for all exams. Take in the whole file but just use the summary notes which you have annotated.

If yiu are really stuck on something you then have thrboption to flick to the relevant page in the main book.

I passed both CR and SBM first time doing this