ACCA, The qualification!!

ACCA, the letters speak for themselves. These golden letters are a sign of the excellence achieved in the accountancy profession. Being the largest and the fastest-growing global professional accountancy body, ACCA, gives certain inherent advantages to its members and students for being associated with it.

The existence of numerous accountancy bodies worldwide puts accountancy students in a dilemma of which qualification to go for. This dilemma is exacerbated by the probable lack of knowledge among such students and disables them to discern the right choice for them. In my opinion, ACCA is a complete package of qualifications and the most flexible of the lot. It gives a chance to students, to learn at their own pace and also to its members, to exploit appropriate opportunities. Supporting students with exam paper resources and Student Accountant Magazine articles is its positive feature, which is appreciative. Moreover, it supports international mobility, which means that you will always be in demand in every corner of the world, once you qualify. This is further sustained by the various MoUs signed by ACCA with other professional bodies such as the Chartered Insurance Institute and CGA Canada. Being associated with ACCA gives a chance of exploring one’s professional self and developing his/her potential, by which one can transcend to far-reaching heights.

Due to its high reputation and status across the globe, ACCA conducts rigorous testing procedures to test individuals based on their acquired knowledge, skill and experience. I think the ACCA exams along with the practical experience requirement and the newly established online Professional Ethics module, serve the task sufficiently and appropriately. Also that the new qualification structure, which focuses on ethics and social responsibility, addresses issues of concern which includes the environment and the interests of other stakeholders of an organization. This move to create awareness of such responsibilities among ACCA students and members is commendable.

I, being a full-time student, have not experienced the work life as yet but I am due to step into that arena later this year, in order to attain supervised, relevant work experience which is a requirement to become an ACCA member. Currently, I am focusing on passing all the exams first, which seems an appropriate strategy for my study style. The key to succeed is to adopt that approach which suits you best. Passing exams in first attempt boosted up my confidence to a sky-rocketing high, strengthening the faith I have in myself that I can accomplish this feat of becoming a successful professional. My belief in my abilities further elated when I got the High Achievers Prize for Paper 1.3 which took me to the skies. I have high hopes that I can continue to do better in future.

Owing to the dynamism in this field and the rewarding opportunities it has to offer, it requires a combination of determination, diligence and the drive, to succeed, with a crunchy topping of professionalism making you a perfect professional. To conquer the riches of this profession, the energy and the hard work needed is extensive; however, the rewards are tremendous. Being an ACCA professional and calling myself as a Chartered Certified Accountant will not only make me feel special or proud of my competences but I will clearly be able to see my aspirations coming to life. And gradually, those vague visions will transform into reality.

Comments

[Karrar]

Hi,

My name is Karrar and I have just completed my ACCA Knowledge Module. I'm thinking of getting Practical Experience after completing ALL the fourteen papers; however, someone told me that for Professional stage papers, it would be very difficult unless the candidate has had some practical experience. How do you reflect to this statement?

[Sheraz]

Dear Ammar,
I hope that you visit my blogs again and read my response to your queries. Well, the requirements for entering the ACCA qualification is that if, for instance in your case, if you are coming after doing intermediate, then you will have to go for the CAT qualification before being eligible for the ACCA qualification. It is a basic qualification that will enable you to be prepared for the ACCA qualification. However, you can also transfer to the ACCA qualification after completing some papers of the CAT qualification. It would be an added advantage if you do CAT and then ACCA as then you will be getting two qualifications, and you might also be able to claim some exemptions from some papers of the ACCA. I hope you do get my point.
I suggest that your elders have recommended a good option to you that will reward you abundantly once you qualify.
I wish you the best of success and luck!
For more information, visit this webpage : http://www.accaglobal.com/join/acca/entry
Don't hesitate to post any of your further queries as you desire and I will try my best to help.
Cheers!!

[Sheraz]

Dear Sadiq,
First of all, thanks for appreciating my work. I would feel proud if my effort proves helpful to anyone.
Secondly, in response to your query, I would like to inform you that I achieved 98% marks in Paper 1.3 and at that time the paper was not MCQs (CBEs) but was a manual paper. So you may call it my hard work or my sheer luck that I got a distinction in that paper.
I pray that InshaAllah you too achieve this kind of success in whatever you do.
Feel free to post your comments and continue reading and benefiting from my blogs. I also invite your ideas and suggestions for improvements.
Thanks!!

[Sheraz]

Hi Sahrish! Thanks for commenting on my blogs. I think you are right but I would like to inform you that there are already certain employers in Pakistan who are ACCA accredited, and train ACCA students towards the qualification. It is up to the student that when does he/she prefer to start his/her work experience. ACCA does not restrict work experience to be gained after passing all the exams. Work experience can be achieved before or during the papers as well.
I hope you understand what I am trying to explain.
However, feel free to comment on my blogs what you think and feel and I would welcome them!

[Shan Evron]

Hi there!

I am living and studying in UK. Previously I have done B.Com from Pakistan.

Will I be able to claim exemption for F2 Management Accounting, F4 Corporate and Business Law (PAKISTAN VARIANT), F6 Taxation (PAKISTAN VARIANT), F8 Audit & Assurance(PAKISTAN VARIANT).

I am confused whether it is necessary for students studying ACCA in UK to adopt English and International Variants. If not, can i get exemption for the above papers ? Thanks in advance.

[Sadiq Ali]

Hi Sheraz,
thanks for putting such vital notes for the junior students.
Sheraz on your profile it is written that you got the highest marks in paper 1.3, please let me know that how much marks made u able to achieve that distinction and also tell me that in those day syllabus paper 1.3 was MCQ's based or detailed answers were required to write.
Thanks
Sadiq Ali,
Pakistan

[sahrish]

ACCA should provide part time career oppportunities to students in pakistan also. I think practical experience helps a lot to understand books material.

[Ammar]

Hi i desperately need ur advice. I am in FSc second year. I was going to go into engg but have changed my mind. Grown ups have advised me to go into ACCA. Can u plz tell me the requirements i must fulfill b4 getting into ACCA? I am an FSC student.
Desperately waiting for reply

[Sheraz]

Hello Ayesha! Thanks for seeking advice! It is something surprising that people are so attracted to ACCA that they wish to switch to it from their current courses. The ACCA qualification is really a good choice you have decided to opt for, I reckon, which should help you achieve your desired level of career prosperity.
Like most other people, you want to earn a high salary, and I think the ACCA qualification will assist you in earning so. The fact that the ACCA qualification is a certification and is not a degree, should not deter you from going for ACCA, because the qualification is valued worldwide and moreover, it also opens up your chances to develop further, in the form of various degree programmes that the ACCA offers in partnership with different universities, such as the Oxford Brookes University's BSc.(Hons) degree in Applied Accounting. Therefore, the opportunities are endless and valuable at the same time.
As far as the salary range is concerned, I think you should check out various salary surveys carried out by different recruitment agencies and also those on the ACCA website. Check out this link: http://www.accaglobal.com/uk/students/careers/surveys
Moreover, the salary depends on the role you undertake at a particular organisation and also your negotiation skills. But your ACCA qualification will give you an inherent advantage in this regard.
I hope you are satisfied with my response. If you need some more information, do not hesitate to ask and post your comments. I would be happy to help.
Best Regards!

[Ayesha]

Hello,
I have finished my alevels and have joined university to do BBA. I had a C in accounting in A levels due to which I decided not to enter an accounts related field. However, I have reappeared and am hoping to secure a better grade.
I'm thinking of switching from BBA to ACCA in january, I want to do something in which I will earn alot and have a good qualified degree.
I have heard that ACCA is not a professional degree but only a certificate which is useful if i have experience.
what is the salary range?
Thanks a lot. Hope to hear from you soon.

[Sheraz]

Dear Z! I truly understand your dilemma as I myself had gone through such crossroads! In fact, I had the exact same issue after completing my O-levels. As far as my advice is concerned, I would suggest that it is upto your choice, what you prefer in the end! If you go for A-levels, you will have your choice of going either towards accountancy or any other field. You can go directly for the ACCA qualification after completing your A-levels. The second route is that you can go for the CAT qualification after your O-levels and then you can go for ACCA. This route however, may make you eligible to claim some exemptions for ACCA papers, and an extra qualification (CAT + ACCA). Therefore, each option has its pros and cons, but I would weigh both the choices equally. Now it is upto you to decide, which way to go. I wish you best of luck in your future career endeavours and hope you make the best choice. Do not hesitate to post some more queries of yours if you desire and I will be happy to help out!
Cheers!

[Z]

Hey.
I am in my 0-levels at the moment, and around 6 months are left and I'm going to be done. I badly need an advise,
my friends say that after the 0 levels, they'll go into Cat and then after that ACCA. My parents Advise me that it would be better if I would continue my A-levels as a matter of recognition. I am badly confused...
Do I start off my Cat after 0 levels, or should I go on with my A levels. If I keep in mind the second option, what should I do after my A levels to go into accountancy field- ACCA?

Waiting for your response ASAP.
Thanks

[Sheraz]

Dear Waleed! Thanks for seeking advice. I would recommend you to go for CAT because it is a qualification in itself and is internationally recognised. Once completed, it can also help you in claiming exemptions for some papers of the ACCA. As far as B.Com is concerned, though you will become a graduate after completing it, but in my opinion, your CAT qualification will assist you more if you are aiming for the ACCA qualification as it will make your base stronger as regards the topics you will have to go through in the ACCA qualification. I hope my advice proves helpful. Do not hesitate to ask any further queries and if I am able enough, I will be obliged to help you out.

[waleed khan]

I have just completed my Fsc 2nd year in Pakistan and I am confused about one thing, will CAT help me more or will a simple graduation like B.com help me to acheive ACCA quickly??
If I do my B.com will I be in a safe spot???
Please friends tell me about this...

[Sheraz]

Dear Hunain! Thanks for seeking advice. As far as your queries are concerned, James has already given an adequate explanation I suppose.
ACCA is a flexible qualification and it does not matter which degree you go for, you will still be able to claim some exemptions, however, it would be of your advantage to go for an Accountancy related degree, because it will really be able to get more exemptions of ACCA papers as compared to other degrees, and would also help you with your ACCA studies. You can get maximum exemptions of 9 papers, that are of the Fundamental Level (F1 - F9), as James mentioned.
I would also like to mention that you can even go for ACCA itself straight after your A-levels, as I did, instead of going for a degree and then proceeding towards it.
As far as your query regarding the placement in London Councils is concerned, I reckon James is in a better position to answer that because I myself am residing in Pakistan and have little information in that regard.
If you have any further queries, do not hesitate to comment again and I and James will be happy to help.
Thanks!

[James Johnston]

Dear Hunain Zaidi,

I work for ACCA UK so I thought I could be of some assistance with regards to your interest, as well as Sheraz may be.

You can claim a maximum of 9 exemptions from the ACCA which works out to be the Fundamental Stage, papers F1-F9. If you're looking to claim exemptions near to this amount you may want to think about studying a degree in Accounting and Finance. However, any Accounting related degree will offer exemptions of some number. To check what exemptions you may get from the potential degree subjects you're considering please go www.accaglobal.com/graduates as there is a link for our global exemptions database on these webpages.

In terms of placements available in London Councils, like every ACCA student the onus will be on yourself to find Practical Experience. There may be such opportunities but you will need to speak with them directly.

I hope this finds you well.

James Johnston
Business Relationship Manager
ACCA - UK

[Hunain zaidi]

I have just completed my A-levels and want to do a degree before studying for ACCA. Which subjects should I take and how will I get exemptions in ACCA once I complete my degree. What is the best option and what route should I take?
Do London Councils provide placement for ACCA students?

[James Johnston]

Dear Ms Rahiman,

Thank you for your interest in ACCA. Please visit our ACCA Europe webpages to find out more about ACCA in Germany, http://www.accaglobal.com/europe/join/

Studying ACCA in Germany is the same standard as the Global Professional Qualification we offer, i.e the same Exams and Practical Experience Requirments.

I hope this helps.
Best wishes,

James Johnston
Business Relationship Manager
ACCA - UK

[Ms Rahiman]

I would like to know if ACCA qualification is credited in Germany? What is the equivalent?
Would apprecaite your reply

Thanks

[Sheraz]

Hi Rija, thanks for seeking advice. I think James has adequately responded to your query. To add to it further, I would wish to inform you that ACCA is one of the most flexible qualifications you can go for. It doesn't matter how you study for it, may it be from some ACCA approved tuition provider, or distant learning if you feel like, even by yourself- obviously if you can cope up with that. There are several options available. You can even study for it from some universities which provide tuition for the ACCA. I know that there might be a lack of ACCA approved tuition providers in Islamabad, but this is not necessary. You can study from anywhere, as far as you are studying the right thing. The most that matters is that you need to pass the exams. Secondly, for the Practical Experience Requirements, you can gain your experience from anywhere you like, but your role should be supervised and relevant to some financial field accepted by the ACCA. Let me assure you that your A-levels will definitely help you in your ACCA studies, and owing to that, ACCA will be the right choice for you to go for. Every qualification is demanding but why not go for one which makes you in demand, and for that, the ACCA qualification is perfect. I hope my advise proves helpful. Best of Luck for your future career!! Cheers!

[James Johnston]

Dear Rija,

I thought I would just drop you a line as a brief response before Sheraz replies to your comment. I am a Business Relationship Manager working for ACCA UK, I can advise that you are in a flexible position at present to study ACCA and get the best you can out it whether this be full time, part time or distant learning. There are various, valuable options you can begin to understand by looking on our website www.accaglobal.com/theview
However, I may allure you to the fact you do not have to be working or training with an approved employer to gain your ACCA Practical Experience competencies. As long as the experience is relevant by which I mean refers to our Practical Experience Requirements you are in a great position. I hope this helps and you find Sheraz's further posts useful. Best of luck!

[Rija]

Hello, I'm in the process of deciding which field to pursue, and need guidance. I've just finished my A levels, and have been applying to universities. I am interested in accounting, and ACCA seems like one of the best options at the moment. However, I do not know how to go about the process. There is a lack of ACCA approved tution providers. I live in Islamabad. I think it matters as to where I study from as well. So will ACCA be worth it even if I'm studying at a place which might not be approved?

[Sheraz]

Hi laraib! Thanks for seeking my advice. I understand that apart from studying, you will have certain family commitments. But as far as the ACCA qualification is concerned, it is really flexible, and you can decide how much papers to study at a time, at your own pace. It is a misconception that ACCA is solely based on audits, but other areas are also opening up which the ACCA qualification values, such as Risk advisory, tax etc.. So there is no such thing that ACCA is worthwhile if you do too many audits to gain experience! As long as the experience is relevant to a financial role and is supervised, it is acceptable. For BBA, in my opinion ACCA would be better to go for because ACCA students are more in demand these days, both from Industry and Practice.

I hope my advice proves helpful. Do not hesitate to contact me again for further advice.

Thanks!

[laraib]

Hi i need ur advice. I am married and have a son. I have just given my A-Levels exam with accounts and economics. With less time to give to studies do u think ACCA is a better option or BBA. I heard ACCA is only worthwile if u do too many audits to gain experience. I am in desperate need of help.
Please reply.