Pursuing globally recognised professional courses such as the ACCA is crucial for a successful international accounting career. You can pursue ACCA if you have a minimum educational qualification of Class 12th with a grade point average of 65%.
The ACCA certification course is run by the Association of Chartered Certified Accountants, a UK-based organisation. Passing all level tests qualifies you for ACCA certification and membership. ACCA-certified professionals enjoy global reputation and can advance to high positions in the accounting and finance industries. As the world's oldest accounting programme, ACCA is present in 180 countries and provides several options.
What are the papers in ACCA ?
Knowledge Level
The first level to complete is the Applied Knowledge Level. This level establishes a fundamental understanding of accounting and finance. This level covers Business and Technology, Management Accounting, and Financial Accounting.
Skills Level
After completing the Applied Knowledge level, you progress to the second level, known as the Skills level. This level focuses on advanced accounting knowledge and strategic skills. This stage covers Corporate & Business Law, Performance Management, Taxation, Financial Reporting, Audit & Assurance, and Financial Management.
Professional Level
The final level of ACCA, known as the Professional Level, focuses on enhancing your professional skills in the accounting sector. This level is divided into two sub-categories. Under the Essentials category, you must complete the mandatory subjects: Strategic Business Reporting and Strategic Business Leader.
The other subcategory, Optional, includes four subjects: Advanced Audit & Assurance, Advanced Performance Management, Advanced Taxation, and Advanced Financial Management. You need to choose any two of these subjects.
To complete ACCA, you must pass all 13 papers if your minimum qualification is Class 12th. However, you can receive exemptions if you have higher educational qualifications before pursuing ACCA. For instance, graduates or individuals with a Master’s degree can skip 4 papers. The higher your qualifications, the more exemptions you can receive.
Each ACCA exam varies by level. The Knowledge Level exam lasts 2 hours, while exams for the Skills and Professional levels are 3 hours each. Each exam comprises two sections with different question formats: multiple-choice and long-format questions for the Knowledge Level, and multitask and case study-based questions for the Skills and Professional levels.
The ACCA exam is considered less challenging compared to other major accounting exams like CA. According to sources, you have a 40%-50% chance of passing the ACCA exams. Success requires smart work and dedication.
Perspectives from ACCA Toppers
It's reasonable to be concerned about how you'll pass the ACCA tests. With three levels and many subjects, it's easy to become overwhelmed. Furthermore, your typical school study plan will not be adequate for taking this professional exam.
So, how do you join the 50% who pass the ACCA exams? One successful method is to follow in the footsteps of ACCA top performers. Here are some important insights from ACCA toppers that you can use and implement.
How to Clear ACCA ?
Begin early and be consistent
Starting your preparations early is usually useful, whether it's for the ACCA exam or anything else. Last-minute cramming frequently causes you to skip important topics, resulting in bad grades. As a result, it is critical to be determined and begin your preparations as soon as you finish Class 12th. Allow plenty of time to thoroughly review each subject's syllabus. Avoid speeding through the course by taking many tests in quick succession. Concentrate on completing one level before going on to the next.
Practise to learn
ACCA is a professional certification course, so simply studying the modules is not enough to pass the tests. You must apply what you've learnt through prolonged practice. Work through as many past exam papers as possible, preferably from the last ten years. This practice will familiarise you with the types of questions you'll face, making the actual test less intimidating. Furthermore, consistent practice will improve your time management abilities, allowing you to complete the exam within the allocated time.
Get support
While preparing for the ACCA exams, you may come across difficult issues. Ignoring these hurdles is not wise. Instead, seek assistance from community members, friends, and mentors. Joining a renowned coaching centre might be very advantageous because the faculty can assist you address concerns and better prepare for the exam. Furthermore, they provide useful feedback following mock tests, allowing you to improve your performance in future sessions. Having a guide or mentor improves your learning experience and confidence.
Stay Motivated
Alongside hard work, motivation is crucial for success in ACCA. When you begin your ACCA journey, understand that it won't be easy. However, staying motivated will help you overcome challenges. Take small steps, passing each level slowly and steadily. Learn from your mistakes and maintain a positive attitude. Practice mind exercises like meditation to stay focused and positive. There will be times when you may feel overwhelmed by the continuous preparation or after a poor mock test performance. Don't let these setbacks affect you. Remember the enthusiasm you had when you started your ACCA journey. Focus on the rewarding results you will achieve as a successful ACCA member and the promising career that awaits you.
Approaches From ACCA Top Scorers
While pursuing ACCA, aiming for top scores is essential to secure positions in prestigious multinational companies and earn attractive salary packages. Achieving high scores requires more than just hard work; you need to work smart. Seek advice from ACCA top scorers to learn their strategies for excelling in the exams.
Focus on the syllabus and study materials
It's important to understand that the ACCA exam is entirely based on the syllabus prescribed by the Association. Avoid wasting time on topics outside of this syllabus. By focusing on the prescribed content, you're more likely to encounter familiar questions that you can confidently ask during the exam. Use the study guide to navigate your preparation effectively. This guide is invaluable and will support you throughout your preparation journey.
Frequent practice enhances your chances of passing
When you have a prescribed syllabus, it's critical not to leave anything out. Focus on thoroughly completing each chapter and topic. Practise all possible questions from each topic. Use the last ten years' question papers or ACCA question banks available in the market. Ensure that you solve every question. After covering the entire syllabus, you'll likely find many familiar questions on the exam.
Learn Exam Technique
ACCA exam questions frequently include specific marking instructions, such as step marking for displaying calculations or other activities. Even if you don't get the correct final , these step marks can still earn you some points. By practising more mock test papers, you'll become familiar with these techniques, which you can then learn and apply effectively to maximise your exam scores.
Focus on the field you lack
Many ACCA applicants make the mistake of skipping areas that they find challenging. Some applicants believe they can compensate by focusing on easy subjects. However, if the exam includes numerous questions from topics you neglected, you will be at a disadvantage. Don't avoid any sections; instead, focus on your weaker areas. Consider enrolling in a tuition class where teachers can help you better understand these hard areas.
Preparing for the ACCA exam over the next few months will require a lot of effort. While you may be ready for a hectic schedule, it’s essential to take care of yourself as well. Falling ill could disrupt your routine and force you to drop out of the exam. Take regular breaks during your studies, socialise to keep your mind fresh, and maintain a healthy lifestyle to ensure your body and mind are in optimal condition for this demanding period.
Conclusion
To Conclude, passing the ACCA exams involves a combination of early preparation, frequent practice, and deliberate study. Concentrate on finishing every item on the given syllabus, use former exam papers to familiarise yourself with question patterns, and seek assistance from mentors and coaching centres for difficult parts. Staying motivated and leading a healthy lifestyle are also essential for navigating the demanding preparatory time. By implementing these tactics and learning from the experiences of ACCA top scorers, you can improve your chances of passing the tests and securing a successful career in accounting and finance.
FAQs on how to Clear ACCA Papers by Top Score
What is ACCA, and who can pursue it?
ACCA (Association of Chartered Certified Accountants) is a globally recognized professional certification for a career in international accounting. You can pursue ACCA if you have a minimum educational qualification of Class 12th with a grade point average of 65%.
What are the levels and subjects in the ACCA curriculum?
How can I improve my chances of passing the ACCA exams?
What is the significance of practising past ACCA exam papers?
How can maintaining a healthy lifestyle benefit my ACCA preparation?
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