The ACCA course, i.e the Association of Chartered Certified Accountants course is a globally recognised qualification in the field of accounting and finance. This course, offered by the ACCA body in the UK, will allow you to work as an accounting professional, not only in India but also in countries like the UK, Singapore, Hong Kong, Dubai and the UAE.
The ACCA exam consists of 13 papers in total that are split into 3 levels:
- Knowledge Level – 3 papers
- Skill Level – 6 papers
- Professional Level – 4 papers
While it is possible to claim exemptions from some of the Knowledge Level and Skill level papers depending on your current academic qualifications, if you do not match the requirement, you will have to attempt all of the ACCA 13 papers.
Here are some tips and tricks that will help you clear your exams on the first attempt.
1. Make a Detailed Study Plan
The first step in achieving any long term goal is to make a realistic plan for it. If you fail to plan then you ultimately plan to fail. So the first thing you need to do when you start preparing for your ACCA exams is to take a look at the syllabus and Exam Structure. Then, determine how much time you would need to prepare for each topic. Mapping out your weeks or days and allotting a specific amount of time to each subject will help you stay organised and on track with your preparation. It might also help to keep a checklist of all the topics that you can tick off as you finish studying them.
2. Start Your Preparation Early
It is important to leave plenty of time for revision when giving the ACCA exams. If you plan to clear the ACCA papers in your first attempt, it is important to not rush into things and allocate a lot of time for preparation. Moreover, after finishing each exam, start preparing for the next one soon afterwards instead of waiting for the results to be announced.
3. Enrol in a Coaching Class
This method will actually save a lot of your time that would otherwise go into understanding concepts on your own and having no one to clear your doubts. Enrolling with a coaching provider, preferably a Platinum Approved Learning Partner of ACCA, will be helpful in ensuring that your concepts are clear and you have the latest updates about all of your exams. Such ACCA coaching providers such as Zell Education also feature ACCA-Qualified Faculty members that bring a lot of industrial experience to the table and help you learn the concepts through realistic case studies.
4. Improve your Time Management
Managing your time is a crucial skill that needs to be learned if you plan to clear your ACCA exam in one attempt. You need to be able to manage your time such that you can accurately answer all the questions you know and still have enough time to attempt every question on the paper. This can be achieved by regularly timing yourself when you solve questions and practice using mock exams. The goal of incorporating timed tests into your routine is to help you get comfortable with the ticking clock and increase your speed of response.
5. Solve a lot of Mock Exams and Practice Tests
This suggestion is in line with the previous point. Solving mock exams and practice tests will help you get acquainted with the style of questions that are asked. It will help your time management skills and will also help you figure out the topics that you aren’t strong in. Another great technique is to attempt MCQ tests of a topic after you are done preparing for that topic. This method helps in improving your recalling ability and also informs you of the topics that need more attention.
6. Take a Look at Examiner Reports
Examiner Reports are some common mistakes and problems faced by students as observed by the examiners. These reports are available on the ACCA Global website and are updated after every exam sitting. There are also examiners approach interviews available on the website that offer insights on what kind of answers the examiners are looking for and on the syllabus areas to focus on.
7. Make Summaries and Mind Maps of the Topics
When you are studying a particular topic, creating short summaries or recaps of each topic will be immensely helpful when you are revising the topic. You can also create mind maps to have a visual representation of each topic.
8. Consistency is Key
The most important factor that helps in keeping the concepts fresh in your mind and prevents you from falling behind in your studies is remaining consistent. Putting in the effort every single day will keep you in the right mindset before the exam and will combat any tendency to procrastinate.
9. Use ACCA Approved Study Materials
The final thing that will make a big difference in your ACCA preparation is the kind of study material you use. If you have not enrolled in any coaching class for ACCA, make sure you get ACCA approved study materials. This is where coaching classes like Zell Education really help because they provide all the necessary study materials in addition to mentorship, placement assistance and also exemption fee waivers if you are eligible.
10. Take Care of your Personal Well Being
Students often get so engrossed in their studies when preparing for professional exams like ACCA, that they tend to neglect their health and wellbeing. Make sure you get enough sleep and are keeping healthy throughout your preparation time to be in a good condition when the exam date arrives. Taking care of your body is extremely important because nobody wants all your efforts to go to waste.
The ACCA qualification is recognized in over 180 countries including Canada, Singapore, and Australia. If you’ve made the decision to become a global CA and are contemplating your next move, we can help you take a step forward. Check out our Association of Chartered Certified Accountants (ACCA) course to learn more.
What are the eligibility criteria for ACCA?
The eligibility criteria for ACCA is that you need to have completed your class 12.
In which countries is ACCA recognised?
ACCA is recognised in over 180 countries across the world including the UK, Ireland, Hong Kong, Singapore, Dubai and the UAE.
In which companies can you work after ACCA?
After ACCA, you will have the opportunity to work for some of the most reputed accounting and finance firms in the world such as the Big 4 (KPMG, Deloitte, PwC, and EY), Grant Thornton, and BDO.