Complete Beginner’s Guide To ACCA Exams

ACCA Exam Guide Tips

Our detailed guide will provide you with all the information about ACCA qualifications, such as fees, exam format, criteria and other details. This guide will give you a good grasp and clear understanding of this course. This information should help you make a well-informed decision.

Why ACCA for accountants?

• ACCA qualifications are growing quickly around the world. Students and members can now find ACCA opportunities in over 170 countries.
• This certification ensures that employers are aware of your eligibility in all areas of business.
• This will give you a better chance of getting a job and moving up in the management ranks.
• The largest and fastest growing global accounting body, with over 320,000 students and members from around the globe.
• You will gain business knowledge and experience, but most importantly you'll feel satisfied.

You may not have known that the ACCA certification has a number of criteria which make it worthwhile to pursue, even if this means investing a considerable amount of time and effort. It is a big commitment.

ACCA Qualification

The Association of Chartered Certified Accountants (ACCA) is a leading accounting organization in the world. This qualification will help you be seen as a capable employee in any aspect of business. A Chartered Certified Accountant's status is protected by law, as anyone claiming the title of chartered certified accountant must be a ACCA member.

• RolesBankers, consultants, auditors, taxation and law professionals.
• Exam Format:ACCA comprises 14 written English tests and relevant work experience. The four exams in each part are normally completed within 2 to 3 year. However, the maximum amount of time for ACCA completion is ten years.
• Exam Dates: This exam is held twice per year, in December and June.
• Eligibility The eligibility criteria may change when registering for different countries. This certification requires that the candidate has relevant experience.

ACCA Qualifying Criteria

The ACCA qualification consists of two parts:

• The first part, Fundamentals, is divided into a Knowledge Module and a Skills Module. The knowledge paper has three pages, whereas there are six in the skills paper.
• The Professionals are divided into a 'core module' and an 'options modules'. The options module has four papers. The essentials has three.
• All 14 papers must be passed by the candidate. The candidate may choose to take as many or as few papers as he/she wants in a single part.
• The course is normally completed in two to three years, but the association allows the candidates to finish the certification within ten years.
• For this certification you need to have worked in a relevant field for at least 3 years. ACCA aims to translate theoretical knowledge into practical skills and apply it accordingly.

Why pursue ACCA?

1. ACCA can improve your job prospects, as it shows that you have a broad understanding of all business aspects.
2. You can become a chartered accountant certified, a title which is only available to ACCA Members.
3. ACCA allows you to enter a senior position because it gives employers confidence in your abilities and performance.
4. Your skills and abilities are evident to employers in the professions of law, accounting, consulting, and taxation.
5. The candidate will also gain valuable managerial and strategic skills.
6. This certification is based on the belief that theory and practice are equally important.
7. This certification is based primarily on the international standards for accounting and auditors.

ACCA Part I exam (Fundamental level)

The Commerce Basics section includes accounting and management:

• The ACCA exam part 1 focuses on all aspects of accounting, including financial, business, and management. The exam covers corporate and business laws as well taxation, financial reporting and auditing assurance.
• This test is written, and not like many other online exams. It tests your ability.
• The candidate requires 50% to pass each section.
• Each examination has a different duration.

ACCA Professional Level Part II Exam

You must pass five exams, of which only three are required. The last two levels can be chosen from.

• ACCA part two focuses mainly on advanced financial analysis, performance management and auditing.
• This exam, unlike other online tests of today, is a written test that measures the candidate's abilities.
• For each section of the exam, a candidate must score at least 50%.
• Each examination has a different duration.

ACCA Exam Strategy

Any professional exam is nothing but pure, original work. You must be dedicated and work hard to achieve the degree you desire. Here are some tips to help you reach your goal sooner.

1. Planning is essential before studying a professional course such as ACCA. Decide how many papers you want to complete in one sitting. Also, plan your study schedule and time management.
2. What and how are you studying? It is important to be familiar with the ACCA syllabus and certification structure.
3. Understanding the approach of the examiner is important. You should know the expectations of the examiner.
4. Do not use any other text or material than the ACCA approved texts and study materials. The ACCA has a planned and defined syllabus they want you understand and study.
5. Set a study goal for each day. This will allow you to better understand your part and finish it on time.
6. Understanding the logic and concepts behind what you're asked to learn is better than memorizing. You will be able to better explain your answers if you understand the concepts and logic behind what is being asked of you.
7. You can use the audio or video tutorials to help you if you get stuck.
8. Use as many practice tests as you can to improve your understanding. Remember to also solve previous papers.
9. The marking scheme and strategy of the examiner will help you to know how much time you should spend on each part.
10. Analyze your exam papers, the examiners' questions and answers, and any technical material. Then, revise. Revision will help to refresh your memory on everything you've studied.

Do not let yourself go. Do not panic and ensure you get enough sleep before the exam.