Archives For Practical Experience Requirements

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.

 

By ACCA student blogger Diksha Jeswani

The best thing about studying the ACCA Qualification is its accessibility. The fact that it can be pursued anywhere in the world makes it an attractive qualification for students. But as there are so many tuition providers around the world, it’s sometimes difficult to judge who you should study with, which is where ACCA’s Approved Learning Partners (ALPs) scheme steps in.

I study with an ACCA Approved Learning Partner in the UAE – and the best part of it is the support that they extend to their students. Topics are explained with clarity, which really helps, not only in relation to approaching exam questions with confidence, but also in terms of applying knowledge to workplace scenarios and so helping us to fulfill our Practical Experience Requirements (PER) objectives. By using examples and posing problems from real life scenarios, our tutors manage to effectively bridge the gap between theoretical knowledge and practical application.

Another advantage of studying at my Approved Learning Partner (ALP) is that they keep me on track with my study goals. They advise on what stage of preparation I should be at, by what time.  They also create an environment conducive to study by offering good facilities. My ALP has a comprehensive library, classrooms free for when we need a place to study and high quality tuition that helps us understand even difficult areas of the syllabus.

My experience with my ACCA tutors has been really positive. They have helped me pass all my exam papers first time by always giving me extra time and guidance if there is something I don’t understand.

It’s been a great experience interacting with fellow students from similar backgrounds. My classmates have helped me learn from their experiences and I find it really useful to discuss any questions I have from our classes with them. I feel my peers have positively contributed my personal and professional growth.

All in all, I would definitely advise my fellow students to study with an Approved Learning Partner for a quality learning experience. You can search the tuition provider directory on the ACCA website to find one in your country.