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AfterExamResults

Blog editor’s introduction: Ng Jia Wen is a full-time ACCA student based in Malaysia. This week we asked her to share tips with fellow students about making the most of time after receiving exam results and starting the new semester. Her main answer is about working part-time whilst she is embarking on her final semester. So in this article she explains the benefits of taking on a job in-between studying – aside from earning the extra bit of money of course! 

by ACCA student blogger Ng Jia Wen

  1. Stay busy; avoid procrastination

Time is tide and waits for no man. Rather than sitting at home and do nothing productive all day, go out and do something meaningful with the time you have, while you are still young and able. For me, having a part-time job while studying requires me to cut back on leisure time, and reduces the likelihood that I will postpone doing important and urgent matters to another day, simply because I will be working another day!

  1. Gain transferable skills

As most of you who are working in full or part-time jobs, you will definitely say that working is nothing like how textbooks describe, whether it is a job relating to accounting or otherwise. Working puts you in situations that you have never encountered while studying, and helps you grow your emotional intelligence.This experience will also help you gain many transferable skills that will show employers you have communication and team working abilities. All of which can enable you to get a relevant accounting or finance-related role in the future, so you can achieve your Practical Experience Requirement (PER) in order to become an ACCA member.

  1. Keep active, mentally

Ever wondered why does holding a pen feels funny or experience the dazzling confusion on the first day you get back to class? Brain function deteriorates over time while it is inactive, so a part-time job helps keep the noggin at work so I’m more prepared when I get back to class when the holidays end.

That is all from me for now. Still sitting at your computer desk? Why not go out and do something meaningful?

Until the next time, study smart and take care of your health!

Photo credit: Steven Depolo via Flickr

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 Hafeez Adeboye

I started my ACCA journey four years ago. Since then, I have grown a monster-sized set of proficiencies, skills and competencies in accountancy, especially in the area of audit and assurance. Because of it, I was able to secure a Chief Audit Executive (Group Head, internal audit department) role where I work.

I emerged the most favourable candidate for the job because I had demonstrated the ethics, governance, audit and assurance knowledge I acquired in ACCA exam F8 (I attempted the paper twice before succeeding at it the third time) while I was as an assistant to the CFO in the finance and accounts department. I now look forward to taking exam paper P7 and am excited by the possibility of passing it first attempt.

I changed employment last month, moving to a more senior role in my new place of work. My job function requires competency in ethics, professionalism and corporate governance. Exam F8 has provided me the platform needed to achieve my deliverables as a Chief Audit Executive (although I had to take other relevant qualifications too).

Applying theory in the work place could be a daunting task, largely due to human behaviours, work place structure and management control overriding potential action. It is the reason why emotional intelligence is important to the success of an audit practitioner, and of course possessing a discerning mind, especially in this part of the world (Nigeria and by extension the rest of Africa). My slogan is “changing them all, one standard at a time”. I just have to remain resilient.

Part of achieving ACCA membership is Practical Experience Requirement (working in a relevant role and meeting performance objectives within that role) I have recorded achievement of 9 out of 9 Essentials and 7 out of 4 Options in my Performance Objectives (ACCA students are required to achieve any 4 from 11 Options in their Practical Experience Requirement).

It is my hope that I have passed across essential information to students out there to help them excel, as I did in my career.

Catch you all for my next blog post.