Behind the numbers

soramsey —  15 January 2014 — 5 Comments

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by ACCA student blogger Adhitya Fadriansyah

Halo everyone, how were the December exams? I wish you all the best of luck and hope we all passed with flying colours.

Taking the ACCA Qualification while working does require extra effort, especially in terms of time management, but I found it advantageous since it gives me the opportunity to apply what I’ve learned directly in a real life office environment.

Theories in the exam papers give me an idea of how to challenge the existing processes and seek areas of opportunity to increase effectiveness and efficiency. In the past five years, I have progressed through five different positions within the finance department and particularly found the ACCA syllabus theory in financial management, performance management, and financial reporting very useful for my career development.

On my current assignment, I do a lot of evaluation of investment opportunities. Therefore the theory on cash flow, NPV (Net Present Value) and IRR (Internal Rate of Return) from the Financial Management paper helped me a lot in doing my job. Especially in providing management with the options and information required to make well-informed business decisions.

On my previous assignment, I dealt with capital budgeting and cost control – this is where the Performance Management – exam paper F5 comes in handy. The Financial Accounting – F3 exam paper gives me the fundamental knowledge of how the transactions end up in the financial statements. Accounting is not only about the numbers – it’s also about what lies behind the transaction and how that is reported to the users (investors, managers, owners, government and others) – substance over form.

If you think professional certification is only about the exams, you are incorrect – there’s actually much more to it than meets the eye. The three components; Exams, a Professional Ethics module and Practical Experience Requirements are established to better equip us in becoming fully-fledged accountants.

One of the requirements to achieve the ACCA Qualification is to achieve 13 out of 20 Performance Objectives. The Options objective gives you the technical competence while the Essentials objectives are intended to equip you with the right attitude to excel at your job.

Consider yourself building a house – the exams stand as the foundation, the Professional Ethics module as the location and the Practical Experience Requirement (PER) as the furniture.  Our house wouldn’t be complete if we miss any one of the components, and the same goes for our careers.

So what are you waiting for? Start to build your dream house by successfully completing the ACCA Qualification.

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5 responses to Behind the numbers

  1. 

    Great Article. I think many people by pass this point, for eg i found F7 to be valuable to my position at work, regarding standards and consolidations. Some people see ACCA as a means to the end, i see it as valuable training that stays with you for life!! Thank you once again

  2. 
    Sharafat Hussain 16 January 2014 at 4:15 pm

    Very well written mate. In addition to the foundation, location and furniture in your given building case, the hardwork must work as the beautiful colour.

  3. 

    Very true and inspiring article, God bless you !!!!! I am now working as a finance executive and I find the fs to be very helpful

  4. 

    @Pan : Thanks, couldn’t agree with you more
    @sharafat: Indeed, hardwork is indeed very important

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