Top 8 Reasons to study the ACCA Qualification

The ACCA Qualification is a highly recognized accounting certification across the world. It is designed to equip its members with the accounting knowledge and skills needed to thrive and succeed in the fast-paced accounting industry.

Its curriculum covers beginner to advanced accounting topics such as financial reporting, taxation, audit and strategic business reporting, which helps candidates gain extensive insight and expertise in the accounting sector. The comprehensive curriculum is the core reason why organizations look for certified ACCA professionals who can evaluate the financial needs of the organization and propose business solutions.

While there are many reasons why aspiring accounting professionals choose to pursue the qualification, here are some of the main reasons:

1. Globally Renowned Certification 

The ACCA certification is internationally recognized in 181 countries and has over 200,000 members and 486,000 students. The certification focuses on strategic thinking, technical skills, and professional values that helps individuals develop into innovative, strategic-thinking accountants. Furthermore, the ACCA body has partnerships with multinational organizations, overseas accounting bodies, governments, and organizations such as the World Bank and the United Nations which has helped increase its credibility and global recognition.

2. Network of Accounting Professionals

Once the ACCA qualification has been completed, certified candidates become a member of an elite group of the world’s leading accounting professionals. ACCA’s global network offers professionals access to a large talent pool and networking events that helps them gain entry to the best and latest opportunities anywhere in the world.

Furthermore, The ACCA has partnerships with over 8,500 approved employers all over the world. These employers work closely with the ACCA body to increase career prospects and opportunities to the members and students.

3. Computer-Based Exams

Some of the ACCA exams can be attempted as OnDemand CBEs. This offers students the flexibility to appear for the exam at any point throughout the year, receive instant exam results and re-sit for the exam soon after instead of waiting for the next scheduled date.

The key difference between CBEs and paper-based exams is that all live CBEs have different questions as they are automatically constructed from a question bank. It means two people sitting the exam at the same time will get a different version of the exam. It also means if someone sits on an on-demand CBE on a Tuesday, they will get a different version of the exam if they resit the same subject later that week.

4. Comprehensive Curriculum

ACCA takes into consideration emerging trends, legislation, and legal requirements when developing the curriculum. The qualification helps candidates master key technical and management skills required by a chartered accountant such as taxation, auditing, law, business, financial reporting, and ethics.

Furthermore, the curriculum is based on international accounting and auditing standards which ensure that ACCA members are equipped with skills to work in any country where these standards are accepted.

5. Multiple Exam Exemptions

The ACCA certification has multiple entry pathways due to the exemptions it offers candidates based on their highest level of education. This helps candidates start at a level that is consistent with the knowledge and skills gained from prior learning.

Depending on any existing qualifications, exemptions can be awarded across:

  • The Foundation level qualifications
  • The 9 Applied Knowledge and Applied Skills exams of the ACCA Qualification

6. Exam Flexibility

Candidates that would like to pursue the ACCA qualification, can choose from multiple study options such as classroom trainingOnDemand, and live online programs. Each program offers candidates unique benefits that will help them balance their work-study needs while ensuring exam success.

The exam sessions are held each quarter and while some exams can even be taken on-demand, giving the flexibility to progress through the qualifications at one’s own pace. Some of the ACCA levels have optional papers that offer candidates the opportunity to specialize in a chosen area and in several countries, you can even take exams based on your national tax and law.

Additionally, one can even gain additional qualifications on your journey to membership, including:

  • BSc in Applied Accounting from Oxford Brookes University
  • MSc in Professional Accountancy from the University of London

7. Develop your skillset after receiving the certification

ACCA professionals receive continuous support and guidance from the ACCA institute even after completing the certification. Professionals have access to a range of world-renowned technical and comprehensive resources designed to support one’s professional development (CPD).

Some of the elements it includes are:

  • Free access to accounting jobs adverts posted by top employers
  • Free access to accounting and auditing standards
  • Access to exclusive online and face-to-face learning opportunities and accountancy qualifications from ACCA, as well as from reputable academic and professional partners
  • Other national accountancy bodies will recognize your member status

8. Scholarships and Special Offers

Being a widely recognized and valued program, ACCA training providers often provide scholarship opportunities to high-achievers and special discounts such as bundle or group discounts that help candidates save costs when preparing for multiple papers. Some providers also offer added benefits such as training by certified professionals, online learning, and exam practice through doubt clearing sessions and mock exams.

4 tips to ace the ACCA strategic professional exams!

You have just finished the applied skills level and you’re wondering how Strategic Professional is going to be different. A comprehensive set of questions have been mentioned beneath to evaluate the most favorable qualification for an aspiring financial candidate.

Style of the exam

There is a definite change in style towards a much deeper application of knowledge and you need to add value when answering questions as the multiple-choice sections have been replaced with a case study approach.

Kaplan’s research shows a strong correlation between students that complete their practice tests and their pass rates and therefore, the secret exam technique at this level is lots of practice and tutor feedback.

Ethics Module

According to ACCA, students who complete the ethics module are 25% more likely to pass the SBL exam. Ideally, you should complete your Ethics and Professional Skills module before, or alongside, your first Strategic Professional paper to increase your chances of passing.

Strategic Professional (Essentials)

SBL & SBR are compulsory exams that require you to demonstrate professional skills that you wouldn’t have come across before such as communication, analysis, skepticism, and commercial acumen so again exam practice is key.

I would recommend you complete SBR before, or alongside, AAA because in SBR you learn about the accounting standards and in AAA you learn about auditing them.

Strategic Professional (Options)

For this tier, you must choose 2 papers between AFM, APM, ATX, and AAA. There’s no set combination, although students often select ATX with AAA and AFM with APM this is not compulsory.

If you liked FM you are likely to enjoy AFM as it builds on earlier knowledge and this is the same with AA and AAA, and others.

If you are working in practice you should do AAA but if you are working in the industry you may find AFM and or APM more useful.

Whatever you choose to do at the next sitting – good luck!

Successfully prepare for the ACCA exams – CBE Testing Format

The way students attempt the strategic professional exams is changing in the UAE from June 2021. Although the exam content is the same, all of the exams will be in CBE format rather than paper-based, so your exam technique needs to be slightly different

The good news at this level is you no longer have to worry about your handwriting, you can copy and paste technical information from scenarios to help plan and form your answers, just like you would write a report at work. Mistakes can be corrected easily and you can change calculations by simply updating a formula.

So what can you do to get ready for strategic professional CBE?

Question practice

Question practice is nothing new but the key going forward will be that you must practice questions in a CBE environment as you approach your exam. Kaplan students benefit from the exclusive virtual learning environment on MyKaplan in addition to the ACCA practice platform available on myACCA to ensure you are aware of the different functions. It’s critical to learn how to use the exam software because Word and Excel are similar but have more functionality than the platform and this won’t give you a full exam experience.

Before the exam day, make sure you have read the instructions on the CBE platform to understand what to do before the exam begins. This will save you time on the day and will increase your confidence with what to expect.

Also, not all papers are identical on the platform, for example, SBL is slightly different from the other strategic professional papers so it’s worth familiarizing yourself again as you move to the next course.

Practice resources

The ACCA provides CBE preparation videos and articles from a wealth of online resources and many of them are linked for you on MyKaplan to make it easy. You can also use ACCA’s specimen exams and the Kaplan mocks to ensure you feel confident on the day of the exam.

We wish you the very best of luck with the upcoming exams.

3 Tips for Studying an Accounting Course

While there are several methods for studying accounting, it’s important to identify the key crucial factors that can lead to a successful outcome efficiently. To begin with, you must ensure that you have the passion to learn and are willing to dedicate the hard work required.

Most exams offered by noteworthy accounting organizations are created to test your comprehension of key bookkeeping concepts and terms. The below suggestions will help you identify methods that have worked successfully for prior accounting students and help you prepare effectively:

 

The Textbook is your key to success:

When reading a history textbook, you have a moderate to strong chances of success if you’re able to understand 90 percent of the information or have a general idea of the topic content, but this won’t work for accounting. It’s important to understand a concept in its entirety as accounting concepts build upon one another. If you were unable to understand the concepts taught in chapter 1, you’re going to have a difficult time learning the concepts in chapter 2 and most likely be lost by chapter 3.

One effective way to ensure clear understanding is by explaining the new concept to yourself or someone else which is far more effective than reading the content repeatedly. Although just understanding isn’t enough, you also must learn how to apply them which can be done through working out problems. Most chapter problems are designed specifically to help you discover how to apply the principles or concepts being taught in that section.

 

Review helps you identify your drawbacks:

Any subject is easier to understand and remember if you thoroughly learned it previously but if you’re unable to remember everything you’ve learned, you’ll have to start from scratch a couple of days prior to the exam. Although this might be a feasible idea for theoretical subjects such as history or management, it won’t work for analytical courses such as accounting courses. Therefore, it’s important to constantly assess one’s learning to identify loopholes and areas for confusion.

You can begin your review process by skimming through your chapters learned on a weekly basis and reworking problems commonly asked and especially struggled with. By taking some time to review your notes frequently, you will be able to refresh your memory and ensure that you have understood everything you studied during the week.

Remember, information that is forgotten must be relearned and the time required to relearn information is often the same as learning it for the first time. Therefore, it’s far more efficient to review as you go than to attempt to relearn forgotten information at the end of the term or semester.

 

Tackle the exam strategically:

To begin with, go through the exam paper and answer all the questions you know or the ones you find easy. will ensure that you get credit for all the questions you know and relieve a little pressure as you tackle more time-consuming or challenging questions.

You must ensure that you are confident enough to work accounting problems in a timely fashion and aren’t constantly checking the clock and stressing yourself out. Although the ideal situation would be to finish the accounting exam having answered all the questions correctly, it’s far better to complete 85 percent of the exam correctly than to complete 100 percent with a majority being incorrect.

5 advantages of Online Learning

Preparing for a professional qualification can be costly, time-consuming and challenging. This is challenging and time-consuming – which is why many providers have started offering accounting and finance professionals the opportunity to study in more time and cost-efficient ways.

By enrolling in flexible online courses, students can work while they study, learn on-the-job skills, and acquire their professional qualifications with ease and at a lower cost without giving up their commitments. This is the very reason why millions of students from all around the world opt for online degree programs or take at least one course through an online platform.

Advantages Of Online Learning:

1. Ease of Comfort
Lectures and study materials are provided via online platforms, this helps candidates easily access them from the comfort of their homes. Furthermore, candidates need not take public transport to get to campus or get up early to get dressed for class – two factors that play a huge role if you are managing multiple commitments.

Although, comfort is a strong advantage and can go both ways. You must not allow yourself to get too comfortable when studying from home, so it would be best to abandon the couch for a few hours a day and set up an inspirational studying environment in your home. All you need is a large desk and a nice, comfortable chair.

2. Personalized Learning
Unlike in a classroom filled with distractions, candidates have only two points of focus the lecturer and the smartboard, hence the ability to grasp information is much better.

At traditional colleges and universities, talking to a professor after class can be challenging due to their strict office hours. In an online program, you’ll also participate in discussion boards with your classmates, communicate with professors via email or calls, and collaborate through various methods.

Also, many students in classroom environments aren’t comfortable speaking in public. In an online environment, it can be much easier to share thoughts with others. Therefore, the response time to doubt solving is much higher than traditional methods.

3. Enhances your resume
It doesn’t matter where your career stands at this moment; an online program will always look good on your resume. It will show potential employers that you’re committed to learning and you’re eager to obtain more knowledge and new skills. Hiring managers don’t see online degrees as inferior to traditional ones. In fact, if you obtain an online degree from a prestigious university, you’ll boost your career with the speed of light.

Furthermore, with an online degree experience, your future employer will also know that you’re comfortable learning new technologies, building a rapport virtually, tackling tasks proactively and independently, and knowing your way around a computer and virtual workspace.

4. Self-paced learning
When you start browsing through interesting online courses and programs, you’ll notice the Self-Paced feature on most of them. What does this mean? Self-paced learning means that students can start studying the course curriculum at any time and can arrange a learning schedule that meets their individual needs. When enrolling in a traditional college program, candidates will have to neglect their work, hobbies, and even family. In such a setting, working professionals find it difficult to juggle their commitments.

A self-paced system does not require attending live sessions; you can access the materials at any time that works for you. If you must work or take care of your commitments during the day, you can study at night. That’s an advantage the traditional educational system cannot beat.

5. Lower costs
The fact that online programs are cheaper and offer the same high-quality benefits as a traditional campus is thought-provoking. For example, you want to enroll in the ACCA OnDemand Program by Kaplan, you will pay 1015 Dhs – a price that is less than a quarter of the cost of studying at a traditional classroom. Therefore, an expensive degree might not always mean high-quality learning.