How ACCA exam F8 translates to the workplace

soramsey —  20 June 2013 — 2 Comments

by ACCA student blogger Naresh John

Hi again! As mentioned in my first blog, I work at the Ministry of Public Administration. For those of you who don’t already work in accounting  but are studying ACCA, sometimes we may ask ourselves, ‘How does working in this job enable me to use my abilities and knowledge gained from studying ACCA?’ I know I do!

To be blunt and honest… it doesn’t… wait, wait…I’m not finished! While it may not allow you the opportunity to use your technical accounting skills, it does allow you to use some principles attained from the ACCA exams.

An instance I remember specifically is the Audit and Assurance paper F8. The F8 paper is one that teaches you that there is a particular process to undertaking tasks in order to achieve a desired result and to make a decision. In the following example I will explain how F8 demonstrates this.

You need to start off with an ultimate goal in mind (relating back to F8 – auditing the firm’s Financial Statements). After that, seek to gather background information about the subject (F8 – reviewing previous audit files about the client). Next, analyse the information gathered. This analysis will help inform new situations that arise (in F8 – consideration of subsequent events). Finally, make a decision and implement it (again in F8 – deciding whether or not the statements reflect a true and fair view and issuing an audit opinion).

While you may not be able to use your technical competencies gained from studying ACCA in your non-accounting role, you still have the opportunity to use and practise some of the principles learned in the exams and adapt them to your current job – and so they can still be valuable to professional development.

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2 responses to How ACCA exam F8 translates to the workplace

  1. 

    @naresh john tnx a lot its simply inspiraring

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