Archives For ACCA career

by ACCA student blogger Elyse Burns-Hill

When you start the ACCA Qualification, you will make some sacrifices for a few years. How much of your time and energy is spent studying depends entirely on you and what you want out of this qualification.

Aim

Some students choose to aim high; they want to be a prize winner or at least get marks in the high 80s or 90s. These students are likely to spend hours practising and revising. They need to know all the little details to get those top prize winner marks.

Others (most of us) simply want to pass; which for us ACCA students is a 50% mark. If all you want to do is to qualify, then you can afford to put a little less time in. Don’t forget though, you do still need to show that you understand the work and are able to apply principles.

Aptitude

Our brains are all programmed slightly differently, which means we need to put in different levels of work to get the same result.

Some people prefer the numbers-based exams, others prefer word based. Depending on your strength, different amounts of time and practice will need to be put in.

Work

If you are working at the same time as studying, it’s hard to fit in the study around a normal working day. You need to find a timetable that works for you; if getting up an hour early works better than trying to concentrate in the evenings, then do that. It takes discipline, but the reward in the end is definitely worth the effort.

Relaxation time

Whatever your aim or aptitude, you still need to take time out. Make sure you take time to do things you love doing; going for dinner with friends, quiet night in with a movie and popcorn, or simply having a hot shower where everything outside the cubical just melts away.

By doing these things you allow your brain a period to re-energise and you remind yourself that there is something outside of your ACCA studies.

How do you balance life and work with your studies? Please share below.

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.