The Association of Chartered Certified Accountants (ACCA) is one of the most renowned accountancy organisations in the world. The accountancy qualification offered by ACCA is universally recognised and considered as a prestigious certification by employers across the globe.
Hence, it isn’t a surprise that thousands of students apply and appear for the ACCA exams every year, thereby increasing the level and competition in the exam. All the 14 papers of ACCA are challenging and require complete focus and preparation from the applicants.
Hard work and perseverance alone might fall insufficient for achieving high ACCA grades. Here is some useful advice for ACCA exams shared by ACCA prize winners over the years.
1. Start your preparation early
The ACCA syllabus is huge and requires enormous amount of time to cover all the topics. Hence, most prize winners suggest that you should start your preparation as soon as possible. You should also incorporate study sessions as a regular activity rather than trying to cram the syllabus in the last few months.
Creating meticulous study plans and sticking to them can also help you finish the vast syllabus extensively. You can think of the ACCA exams as an annual workload and allocate your time accordingly.
2. Use previous years’ question papers for technical practice
All ACCA prize winners agree on the importance of solving previous years’ question papers as a part of your preparation schedule. Looking through past papers, sample answers and examiners’ reports can help you identify potentially important topics and your weak spots.
Solving yester years’ papers can also refine other important skills like answer planning and exam time management, which are crucial for passing ACCA exams successfully. You also get into the hang of giving an arduous exam and refine your answering techniques in the actual exam.
3. Balance your study with your work life
No human brain is equipped to handle long hours of preparation for lengthy periods of time without any break. Although you might believe in the motto of “short-term pain for long-term gain,” it’s important to take a break from your preparation once in a while to give your brain a rest.
Many ACCA prize winners have successfully juggled their exam preparation with an active work life and personal commitments. Hence, you should learn how to maintain a balance between your study, social and professional life for optimum results in all the three domains.
4. Don’t skip any syllabus
Most prize winners suggest mastering the ACCA syllabus instead of question spotting. The whole aim of an extensive syllabus is to gather as much information about a particular subject as possible. Hence, a thorough coverage of the entire syllabus can ensure better grades than just doing the bare minimum.
The best way to cover maximum ground is to formulate a study strategy that works for you. You can divide your time as per the number of topics or modules either on a difficulty basis or chronologically. Save some time to focus on important points such as definitions, acronyms and standard calculations.
An ACCA qualification can act as the gateway to a successful financial or accountancy career in the global business domain. Hence, you can also supplement your