Optionpapers

by ACCA student blogger Adhitya Fadriansyah

Hello everyone, this is my first student blog for 2015.

I am working in the oil and gas industry and the fall of oil and gas prices has had a lot of impact on the company financials, since late last year. Believe it or not, this is where having a professional accounting qualification will come in handy.

In a low energy price environment, independent Oil and Gas Companies will experience significant pressure to be able to survive through the cycle. As an accountant we need to be able to provide management with adequate and appropriate data and information in order to help them make a well informed decision. In addition to providing data, helping the company by generating ideas to improve business process, either by eliminating redundancy or increasing efficiency, will also be critical.

So, if you are a financial accountant, you might consider taking P4, Advanced Financial Management and P5, Advanced Performance Management as your option papers. When choosing your option papers, bear in mind how it might help you in your career and how to apply your knowledge in your workplace. Remember that ACCA Qualification is not only about the exam paper, but it is also about how you can apply the knowledge gained throughout your career.

In conclusion, it is never too late and certainly never a bad mistake to pursue a professional accounting qualification. Whatever your background or industry might be, whether being an auditor in a public accountant firm or being a company accountant, the knowledge gained through pursuing the ACCA Qualification will aid you in your career journey.

exams

by ACCA student blogger Shahroze Naeem

If you didn’t pass your exams, then it’s understandable that the recent failure you suffered has affected your morale. Some of us might even be thinking about a possible Plan B. But failure is not about giving up.

The essence of failure is in defining victory. After all, if we did not fail from time to time, victory won’t seem so sublime, would it? If you have recently suffered from exam failure, here’s how to get your game face back on:

1. It’s just another day at the field
Even if you have failed a couple of examinations, it’s just another day at the field. Don’t make it worse on yourself by thinking about it too much. Focus on how you will make it better. It’s now that you plan the next examination session and stick to it from Day 1.

You don’t have 6 months to prepare – it’s 4 months for preparation and 2 for revision, if you intend to plan it right. If you’re studying ACCA’s professional subjects, those 4 months will actually define how well the remaining 2 will go.

2. Set your goal
The first thing on your plan should be your goal. Your goal is not to score a 50. It should be to score as much as possible. Students that wish to just cross the boundary are the ones that flunk the most. Ensure that you cross the 50-score mark by miles the next time.

3. Be confident. You don’t need a Plan B
Quitting is never an option. If you have failed, it’s time to get back up and prove you have what it takes to succeed. I have seen many students switch their professional subjects and suffer defeat time and time again. Don’t baffle around – instead, define what you want to become and pursue the relevant subject.

Re-sitting is not a bad thing. Wandering around and constantly changing your professional subjects is. Be confident and say goodbye to any Plan B.

Good luck for the next exam. More power to you all in 2015.

examresults

by ACCA student blogger Kevin Bradfield

Many of you may be celebrating the results you got for the December 2014 exams, if so congratulations! However, many are not and may feel that the results were not a reflection of their performance. If this is the feeling, then ACCA has an Adminstrative Review process for remarking which students may opt to use. There is a cost for this service though.

However, it may be necessary to reflect on what went wrong and led to failure.

1. Don’t start studying too late

Students often wait too late to begin studying. In fact many students wait for the release of exam results to determine their next move. Practicing this habit only leaves approximately three and a half months to study and revise which is quite short, which means you spend around 2 months doing nothing while you wait. I encourage you to start studying about 3 weeks after sitting exams.

2. Practicing past papers

This is a must. Practicing past papers gives you the feel of questions asked and helps to familiarize you with the type of question being used. After attempting a question take a look at the answers to see how the questions are actually answered. The answers are quite comprehensive, so don’t be bogged down with the answers, just think about the style of the answers. I find that practicing all the past papers on the ACCA website helps, as it covers the whole syllabus.

I suggest that question practice should take up most of your preparation time. I often find that I can’t adequately answer a past question even though I studied the study text thoroughly.

3. Know the Syllabus

One of the best ways to overcome nerves in the exam hall is to know the syllabus. There is no better feeling than to know every question on the exam paper. Doing this allows you to keep composed and answer the questions efficiently.

Good luck for the future.

Mukund_blogger

by ACCA student blogger  Mukund Agarwal

Hey guys, please allow me to introduce myself to you as I hope we shall soon be interacting in the upcoming months. My name is Mukund Agarwal. I am 21 years of age and am currently working in an accounting and advisory firm in the United Arab Emirates while studying for my ACCA Qualification. My leisure-time activities mainly include two things – reading up on a lot of fraud related news and playing and watching a lot of football.

Initially, for my first six papers I self-studied and let’s just say it didn’t quite work out as well as expected. Having learnt from my mistake I decided that going forward studying with an Approved Learning Partner (ALP) would be the most appropriate course. As of now, I have happily passed eight papers and recently sat my next four in the December 2014 session.

I guess I have always had an interest in the accountancy field, particularly forensic accounting. At a young age, I liked to read detective fiction such as Sherlock Holmes and Agatha Christie books; as well as watching and helping my dad a forensic accountant at work which only served to pique my interest further. But how to get there? The answer lay in the second word of ‘forensic accountant’. This set the ball rolling towards me starting my ACCA Qualification.

Why ACCA? Why not any other accounting qualification? Many reasons actually, the foremost being its prestigious standing among other qualification bodies in the world and respect and adulation awarded to its members. This, coupled with the flexibility and ease of studying for the exams made it a sure fit for me and thousands of others. Furthermore, an aspect of ACCA that I personally admire is its unparalleled focus on ethics and integrity of its members. These crucial facets of any professional are drilled into your heads in every paper to produce an outstanding and exemplary individual, in a personal and a professional way.

All of the above combined with the ever increasing demand in the market for qualified accounting individuals and lo and behold, you have a perfect qualification, both demanding and reputed, that will ensure your success at any point in your career path.

The immediate outlook for my future includes a priority to become an ACCA member as soon as I can, thereby opening many more doors so I can further my professional development and eventually achieve my goal of becoming a leading fraud investigation professional.

I feel very proud being a part of the Association of Certified Chartered Accountants and even prouder to be part of this elite group of bloggers who have been given an opportunity to share their knowledge and experience with the ACCA world at large. I look forward to a productive partnership and am always willing to help out, in my own little way, anyone in need of assistance.

worksmarter

by ACCA student blogger Tim Chippindall

Exams and studying cause people stress, there’s no getting away from the pressures, especially when this is amplified by juggling a full time job and social life as well. The onus for me is working smart. I’m approaching my study’s not just as a topic I need to learn, understand and apply but digging deeper and trying to understand and develop, how, why, when and with what I learn most effectively and efficiently. A number of sources suggest that one of the best resources for exam success is practice questions and that’s an excellent tip. It prepares you for the style of question you are going to be asked, and really helps to underpin your knowledge. I think however more thought is required before you dive right into practise questions about what kind of style of learning is best for you.

I learn best in quiet environments. I can’t just pick up my books and 10 seconds later be studying. I need a separate space and I also enjoy listening to music while I study. All these needs are important. Studying takes up a lot of your free time and it’s important to reward yourself by providing you with what you need to make the most of it. Personally I make maximum use of my local library, which is heavily populated by people studying professional qualifications!

The idea of this blog post is to make people aware that not everything about studying is in the book in front of you. Some aspects go far beyond, and understanding these eternal factors makes it much easier for students. I always make sure that I keep distractions to a minimum and it’s really important that I’m in the mood for studying. It’s very easy to finish work and convenience yourself that you’re not in the mood for study however. Having a routine helps and also having your comfortable environment is a great tactic to avoid procrastination.

Although people feel the benefit of reward after they have finished a study session take time to give you the best chance and reward yourself for making the time to study, by giving yourself the correct tools you need, whatever they may be!

Best

Tim