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Effective Revision and Preparation For ACCA Exam

EFFECTIVE REVISION & PREPARATION FOR ACCA EXAMS

Ideally, the preparation for your next exam should start immediately from the day after appearing your last exam. For a strong start, attend classes with an Approved Learning Partner. To get maximum benefits from the classes, be regular in the class and be attentive and participative. Take notes during the lectures, be it detailed, or just key words or a flow chart, but TAKE NOTES. Do the class-works and home-works sincerely. Tally your notes with the book. Check for any relevant technical articles on the ACCA Global website. Exploit Google and YouTube to answer your queries. Finally, practice questions from the revision kit and as many others as you can lay your hands on. Ask the tutor if any related questions arise while the tutor is still on the topic. By the time the course is complete, you should have finished the book and the Kit at least once. When the exam is near, you want to be revising, not studying your books for the first time.

Whether or not you have been able to keep up with the tutor’s speed, you have to prepare to obtain pass marks or more. You can’t really go back in time to make things right, but you can definitely study smart and increase the chances of passing with earnest efforts. Here are a few tips that may help you for effective revision:

1. Begin your revision when there’s still plenty of time left before the exams.

2. Know your syllabus and the exam format, the question types and the weightage of each chapter. This information can be obtained from the first few pages of your study text and exam kit.

3. Devise a study plan and stick to it.
– Set realistic, attainable but high-aiming goals.
– Draw a schedule, a time table for everyday until the exams, also accounting for days already committed to unavoidable events such as family obligations.
– Don’t cram many things into your brain at once, allow for short breaks every once in a while.
– Follow a long, difficult or tricky topic by a comparatively shorter and easier topic.
– Consistency is the key to a deeper understanding; even if you were too busy some days, make sure to revise at least some easy topic so that you don’t break the flow.
– Deal with difficult and marks-wise heavy topics first.

4. We have to learn most formulae by heart. Memorizing some theory portion also helps to save time during the exam. But at first, gain the concepts and practice questions; leave the memorizing for later on.

Practice makes permanent. Practice questions from the study text, KIT, past questions. Practice discursive questions in writing too. Re-visit a difficult question you encountered at certain intervals.
6. Recall and quiz yourself from time to time about topics you have already learnt.
Don’t let your phone distract you while you are studying.
8. Work on exam techniques.
– Time management: Practice questions on a spreadsheet or word-file under timed conditions.
– Get familiar with CBE format: The types of questions, the formulae sheet, flag, highlight, navigator features, etc.
– Know the requirement of the question: Marks will be gained for only those answers that precisely meet the questions’ requirements. You should know how your answers should be versed for different question verbs. (Discuss, Explain, Calculate, Assess, Evaluate, Compare, Criticize etc.)
-Solve easy questions first: Because we have limited time, secure easy pass marks first. You can use the time saved in solving more difficult questions.
– Marking scheme: You need to know how much to write for how many marks, so learning to roughly apportion the marks to the parts of a question from marking schemes given in exam kit is essential.
– Easy marks: Don’t miss the easy marks in the long questions, for e.g. for correct formats, or copying a figure given in the question into the format correctly.
– Read the examiner’s reports. At least last 4 of those in detail to know what the examiner expects in our answers.
– At least attempt: In the exam, don’t leave a question blank even though you don’t understand the requirements or don’t know how to solve it because you may still secure easy marks from those questions.
9. Practice mock exams available on ACCA Global website and on websites of Approved Content Providers. Review your shortcomings so that you don’t repeat the same mistakes in the real exam.
You can also visit our resources section to get different ACCA Resources which can be helpful to you.

ACCA syllabus and its structure

ACCA Syllabus and its Structure

The ACCA syllabus consists of 13 papers divided into 3 levels:

Applied Knowledge – 3 papers
Applied Skills – 6 papers
Strategic Professional
1. Essentials – 2 papers
2. Options – 2 papers from 4

Applied Knowledge

This level is the starting point of ACCA Journey. There are 3 papers to study and sit for exams. Once you pass all three subjects, you can continue to ACCA Skills level. For detail information, you may go through the links below.

Accountant in Business- AB
Management Accounting- MA
Financial Accounting- FA

Applied Skills

Comprising modules LW (F4) to FM (F9), this module examines the principle technical subjects that you’re expected to have an advanced understanding of. These subjects include law, taxation, auditing and financial management, financial reporting and performance management. You will develop knowledge and skills in these subject areas, reaching a level of knowledge equivalent to a bachelor’s degree.

Corporate and Business Law– LW (F4)
Performance Management– PM (F5)
Taxation– TX (F6)
Financial Reporting– FR (F7)
Audit & Assurance– AA (F8)
Financial Management– FM (F9)

Strategic Professional

Once your skills level is completed, you have to sit the exams of strategic professional. It comprises 4 subjects which are subdivided into 2 categories.

a) Essentials

This module is called Essentials as it will provide you with the specialized skills and techniques required to become an expert accountant, either in a consultancy or high-level advisory role. SBL paper is assessed with a 4-hour paper-based exam while SBR with 3-hour.

Strategic Business Leader– SBL (Formerly P1)
Strategic Business Reporting- SBR (Formerly P2)

b) Strategic Professional (Options) – Choose any 2 from 4

You can choose any 2 from the 4 papers available. This will give you an extra choice to select the paper where you want to be more expert.

Advanced Financial Management– AFM (Formerly P4)
Advanced Performance Management– APM (Formerly P5)
Advanced Taxation– ATX (Formerly P6)
Advanced Audit & Assurance (UK or International)– AAA (Formerly P7)

ACCA Vs CA. What’s The Difference?

What is ACCA?

ACCA stands for Association of Chartered Certified Accountants, a globally recognized qualification spreading over 180 countries, the world’s leading professional accounting body which set up in London 1904.

ACCA has more than 5,00,000 students throughout the world. It mainly focuses on the excellence of the Accounting and Finance profession giving their students an additional knowledge of UK GAAP, their Laws, and IFRS and this is the main advantage of doing ACCA.

After pursuing ACCA, one can start his career with some MNC or a local firm handling overseas and local clients. They can opt for various career options like Finance, Taxation, business consultants, Audits, Bankings and many more. Some countries which highly recognize the ACCA qualification are Australia, Ireland, the UK, Canada, and many others.

What is CA?

CA stands for Chartered Accountancy, one of the most sought and rewarding career options among the commerce students. Chartered Accountants mainly focus on Audit as their main profession.

They are treated as an expert in various domains starting from accounting, auditing to finance, taxation, corporate laws, etc. The career options after becoming a Chartered Accountant are countless. They can join an Audit firm, or Local or Multinational Company as an Internal Auditor, or can join some foreign or local banks to guide them in their financial and legal matters or start your own practice.

In Nepal, the profession of Chartered Accountancy is regulated by the Institute of Chartered Accountants of Nepal (ICAN) which was established by parliament under the Chartered Accountants Act, 1997. After completion of three levels of examination (CAP I, CAP II, and CAP III) with three years of articleship training under a qualified CA, one can get the membership of ICAN and with the Certificate of Practice (COP), one can practice as a professional accountant.

What is the difference between ACCA and CA?

Which one is better? Which is more flexible? If you are confused between ACCA and CA and the above questions are bothering you, then you should not miss reading this.

Point of Difference	ACCA in Nepal	CA in Nepal
Recognition	Recognized in more than 180 countries	Recognized in Nepal and some other countries where ICAN has MOUs
Established year	1904, one of the oldest professional accounting bodies	1997
Regulating body	ACCA UK	ICAN
Demands	Equally demanded by govt & private organisations, MNCs, firms, etc	Equally demanded by govt & private organisations, MNCs, firms, etc
Practice in Nepal	Need to pass some ICAN papers and fulfill articleship requirements	ICAN members can directly go for practice in Nepal
Accounting standards	Focuses on IFRS (International Financial reporting standards). Gives additional knowledge internationally accepted accounting practices & GAAP (Generally accepted accounting practice)	Focuses on Nepal Accounting standards. Recently it has started to work on NFRS (Nepal financial reporting standards)
Flexible study options	Very flexible. one can attempt a single paper at a time	One has to attempt at least one group at a time.
Pass percentage	40% – 50%	4% – 5%
No. of papers	13 papers	20 papers
Entry requirements	+2, Bachelors, Masters	+2, Bachelors, Masters
Articleship required	3 years	3 years
Average Salary range	Similar	Similar

Summary:

Both ACCA and CA are popular choices in the market. Both courses are based on quality, learning approaches and highly respected. To decide which qualification fits more, one can visit local offices and colleges or go through the official website of ACCA and ICAN.

Official website of ACCA: www.accaglobal.com

Official website of ICAN: www.ican.org.np

References:

www.accaglobal.com

www.ican.org.np

You can even visit one of the leading colleges for ACCA in Nepal, Seed Financial Academy, to have the actual figure of these professional qualifications. Follow the website www.seedfinancial.com.np to get all the updates

Why is ACCA important?

ACCA (The Association of Chartered Certified Accountants) Qualification is a global body for professional accountants and is trusted as one of the most prestigious professional qualifications globally. It has its presence in almost 181 countries. This shows that an ACCA Member can move around the globe for unlimited opportunities. An ACCA can work in various sectors like Finance, Accounts, Audits, Consulting firms and so on. This qualification is also a gateway to ethics & professionalism. It is not only about gaining technical knowledge in accounting and finance, but also obtaining valuable skills in organizational and strategic management.

Why is ACCA important?

The ACCA qualification helps in developing successful careers in various industries like banking, auditing and consulting. ACCA qualified professionals may also think about careers in the field of taxation. It is regarded as one of the most popular and valuable qualifications. Some of the reasons are:

Global Recognition

ACCA is recognized worldwide as a prestigious qualification that helps an ACCA student to move around the globe to pursue ACCA, sit the exams and also make way for ACCA members to work in any part of the world.

Opportunity to work anywhere in the world:

ACCA is a highly regarded accountancy qualifications. It helps to gain not only accountancy and financing knowledge, but also provides the best skills which help to work anywhere in the world.

Build your own path

If you want to develop a successful career in finance and accounting, ACCA qualifications are the best course a person can choose to take their career one step further. These courses not only give you an opportunity to grow and make a renowned career but also help you become superior in your professional career.

If you are thinking to join the ACCA course, Seed Financial Academy can be a better choice for you. With experienced and renowned tutors, SEED can be the best place to secure your career. To know more about qualification and the way of achieving it, contact us.

“Success is no accident, it is hard work, perseverance, learning, studying, sacrifice, and most of all, love what you are doing and learning”. – Unknown

Frequently Asked Questions (FAQs)

What are FAQs?

FAQs are Frequently Asked Questions. The following are questions that we get asked most frequently in email, on the phone, and at conferences. They cover everything from submitting manuscripts to getting in touch with our authors. If you don’t find the answers you need here, contact us.

What is ACCA?

ACCA (Association of Chartered Certified Accountants) is the largest and fastest-growing international accountancy body, with over 486,000 students and 200,000 members in 179 countries. More people around the world qualify in-country with ACCA than any other international body. ACCA’s reputation and influence are respected worldwide by employers, government and the profession itself.

ACCA’s Members, who are known as Chartered Certified Accountants, are employed in industry, financial services, the public sector, or in public practice. With statutory recognition in the UK and Ireland, it has the authority to license its members to work as registered auditors. In the UK, it also authorizes its members to undertake insolvency work. Outside the UK, ACCA’s are recognized under the EU’s Mutual Recognition Directive and in many countries around the world.

1.How do I apply to be an ACCA student?

You can register online to become an ACCA student at any time of the year.

Applying online allows you to upload all your supporting documents. This means your ACCA application will be processed much quicker and you will know at which level you can start your studies shortly after submitting your application.

The best way to register for ACCA is through a learning provider like Seed Financial Academy, as you can register for a reduced cost of GBP 30.

2. What are the entry requirements for the ACCA Qualification?

The minimum entry requirements for the ACCA Qualification are:

10+2 in any stream to A-Levels and three GCSEs (or their equivalent). These need to be in five separate subjects including English and Maths.

Students who have completed BBS/BBA/MBA/MBS or students from other professional qualifications can apply with exemptions up to 9 papers.

3. What documents do I need to register as a student?

1. Documents supporting your educational achievements

Your educational documents must:

Name your qualification(s)
Be signed and stamped by the awarding institution/body (including logo)
include transcripts/mark sheets detailing the subjects/module codes and the marks achieved
Show date of completion for full academic award or confirmation of years successfully completed
Your award certificate(s) and/or an official letter confirming completion

2. Proof of identity

We can accept the following as proof of identity

copy of birth certificate
passport
National ID Card or driving license

3. Passport-style photograph

You will also need to supply a passport-style photograph of yourself.

If you have changed your name after obtaining your qualification documentation please submit a copy of an official document for this change.

If you are providing your documents in a language other than English, you’ll need to provide an official translation as well as a copy of the documents in their original language.

4. What exams do I have to take to complete the ACCA Qualification?

In order to complete the ACCA Qualification and qualify as an ACCA member, you will need to complete:

13 exams (exemptions are awarded based on qualifications held)
3 years of practical work experience
the Ethics and Professional Skills module

The exams are detailed below:

Applied Knowledge exams

Accountant in Business (AB)
Management Accounting (MA)
Financial Accounting (FA)

Applied Skills exams

Corporate and Business Law (LW)
Performance Management (PM)
Taxation (TX)
Financial Reporting (FR)
Audit and Assurance (AA)
Financial Management (FM)

Strategic Professional exams Essentials

Strategic Business Leader (SBL)
Strategic Business Reporting (SBR)

Options (two to be completed)

Advanced Financial Management (AFM)
Advanced Performance Management (APM)
Advanced Taxation (ATX)
Advanced Audit and Assurance (AAA)

To help demonstrate to potential employers that you can apply your knowledge in the workplace and have practical skills, you are required to complete three years of relevant work experience. You can gain your practical experience before, during or after you complete your exams

As part of your ethical development, you are required to complete the Ethics and Professional Skills Module. This will give you exposure to a range of ethical perspectives and includes several self-tests that require you to reflect on your own ethical behavior and values. The module becomes available to you online when you have completed the first three exams of the ACCA Qualification (Accountant in Business (AB), Management Accounting (MA) and Financial Accounting (FA)), although it is recommended that you complete all nine Applied Knowledge and Skills exams before taking it.

5.How quickly can I complete the ACCA qualification?

ACCA runs four exam sessions per year. Students can sit a maximum of four exams at each session, and a maximum of eight distinct exams each calendar year. You could, therefore, complete all of the exams in two years.

However, as you also need three years of practical experience before you can become an ACCA member and be considered a qualified accountant, the qualification takes a minimum of three years to complete.

6.What exam certificates are awarded for the ACCA Qualification?

Students are awarded:

Certificate of Achievement
Students are awarded a Certificate of Achievement if they achieve a pass mark of 85 percent or above for individual passes in Accountant in Business (AB), Management Accounting (MA) and Financial Accounting (FA) from June 2011 onwards and Corporate and Business Law (LW) from June 2015 onwards.

ACCA Diploma in Accounting and Business (RQF Level 4)
Students are awarded the ACCA Diploma in Accounting and Business (RQF Level 4) when they have successfully completed Accountant in Business (AB), Management Accounting (MA) and Financial Accounting (FA) (at least one of which must have been sat and passed), plus completion of Foundations in Professionalism. Students who obtain full exemptions will not be awarded the Certificate.

Advanced Diploma in Accounting and Business
Students are awarded the Advanced Diploma in Accounting and Business when they have successfully completed the Applied Skills exams (at least two passes are required, one of which must have been sat on or after 1st June 2011), plus completion of the Ethics and Professional Skills module. Students who obtain full exemptions will not be awarded the Certificate.

Strategic Professional Certificate
Students are awarded a Strategic Professional Certificate when they have successfully completed all of the Essentials exams of the ACCA Qualification (Strategic Business Leader (SBL), and Strategic Business Reporting (SBR)) and any two of the Options exams from Advanced Financial Management (AFM), Advanced Performance Management (APM), Advanced Taxation (ATX) and Advanced Audit and Assurance (AAA)

In addition, you will also have an option to pursue a BSc (Hons) in Applied Accounting from Oxford Brookes University and an MSc in Professional Accounting from the University of London.

7.What do I need to do to be awarded the BSc degree?

To be awarded the BSc (Hons) in Applied Accounting you must:

Be registered with Oxford Brookes University ie have opted into the BSc degree scheme before passing any of the three ACCA Applied Skills exams Financial Reporting (FR), Audit and Assurance (AA) and Financial Management (FM)
Successfully complete all nine Applied Knowledge and Applied Skills exams
Complete the ACCA Ethics and Professional Skills module
Complete and pass the Oxford Brookes University Research and Analysis Project.

To submit the Research and Analysis Project in the May and November submission periods, please refer to RAP submission dates.

8.Can students take the ACCA Qualification exams in any order?

Exams must be taken in line with the following module order, however, you can attempt the exams within each module in any order:

Applied Knowledge exams – available by on-demand computer-based exams (CBE)
Applied Skills exams – available by paper-based or session CBE depending on location. Some variants will only be available as paper-based exams.
Strategic Professional (Essentials and Options)– available by paper-based format

If your status allows you to enter for exams across modules, please remember that you must complete the exams in order and enter for outstanding exams in your current module if you wish to enter to sit exams in the next module.

For example, you may have already passed the Accountant in Business (AB) and Management Accounting (MA) exams. You can enter for the Financial Accounting (FA) and Corporate and Business Law (LW) exams at the same time, but you would not be allowed to only enter for Corporate and Business Law (LW).

If a student enters for two upcoming exam sessions at the same time, progression rules will look across both exam entries and treat them as one.

For example, a student can enter for Audit and Assurance (AA) and Financial Management (FM) in September and Strategic Business Leader (SBL) and Advanced Performance Management (APM) in December at the same time. Once both entries have been accepted, any subsequent results from the first session will not affect the exam entry for the second session.

9.What is the pass mark for the examinations?

50 per cent for all exams.

10. Are practice questions available?

ACCA website includes a full sample exam for both the paper-based and computer-based versions.

In addition, our approved publishers BPP Learning Media and Kaplan Publishing include practice questions and practice exams as part of their study materials.

These materials are intended to support both paper-based and computer-based exams and therefore include CDs and/or online materials to support revision for computer-based exams.

Scopes of ACCA after plus two

Have you Completed your plus two studies and wondering what should you study further?

ACCA can be a better choice for you in your future endeavors. Choose ACCA as a career after plus two and get worldwide opportunities.

ACCA is the world’s leading and fastest-growing professional accountancy organization with over 200,000 plus members and 500,000 plus students across 181 countries. ACCA qualification has its presence in 181 countries throughout the world, which means that you can successfully build your career as a Chartered Certified Accountant after completing ACCA.

Why study ACCA?
There are various reasons to pursue ACCA as a qualification. Some of the top reasons are as follows:

Global Recognition
The ACCA qualification is recognized worldwide as a prestigious qualification that helps an ACCA student to move around the globe to pursue ACCA, sit the exams and also make way for ACCA members to work in any part of the world.
Flexibility – anywhere, anytime, in your own time
ACCA qualification is very flexible in terms of entry requirements, sitting exams and gaining Practical Experience Requirements which makes the qualification more interesting and enjoyable.
International Accounting & Auditing Standards
ACCA qualification is based on international standards that are accepted by most of the countries in the world and help students to be well equipped with the skills to work in those countries.
Cost-effectiveness
ACCA is one of the most cost-effective qualifications in comparison to others. Anyone can gain a qualification without much financial hardships.
Partnerships with Employers
ACCA has a network of more than 8,500 Approved Employers who are ready to offer high paid jobs to ACCA Members.
Practical Experience
It is mandatory to have 3 years of practical experience in relevant industries to become ACCA members which help them become more demanding in corporate sectors and make themselves a more complete package.
Professional Status
ACCA members are respected worldwide by employers and trust the skills & professionalism which further increases the demand of an ACCA member.

How to be an ACCA?

To be an ACCA, you must go through the following phases:
1. Register with ACCA. (You may visit the official website of ACCA or visit an approved learning partner to know about the eligibility of ACCA registration)

Pass 13 papers including Ethics and Professional Skills Module (EPSM)
Complete 3 years of relevant work experience

Know More about The ACCA course and ACCA degree

The ACCA (Association of Chartered Certified Accountants”) is a global professional body issuing highly respected and valued international qualifications in business. It is recognized by the member states of the European Union and the United Nations.
How to get the qualification? You have to pass a maximum of 13 exams in English and have relevant practical experience which you can gain in any business sector you are working in.
You can take up to 4 exams for each session. Normally it takes 3 or 4 years to qualify
ACCA professional qualification covers all areas of business, from financial statements, management accounting, business taxation & law to audit and also business ethics!
Many multinational and local firms seek or require their employees to study for this prestigious qualification.

Want to Get a Free consultation: Register Here

Seed Financial Academy is a GOLD Status Approved Learning Partner of ACCA. Gold Status is only awarded to institutions that deliver the highest quality of education, reflecting the high-quality tuition that we provide to our students.

Career after ACCA/Scopes of ACCA course

- Finance manager
- Finance analyst
- Forensic accountant
- Management accountant
- Internal Auditor
- Management Consultant
- Tax consultant
- Audit and assurance officer
- Finance officer
- Project manager
- Financial planner

ACCA is not a cup of tea for you, No worries we offer different other courses. Find the best for you or Contact us we will guide you to achieve the best career.

How did I end up choosing ACCA as a Career?

Ujjwal Ghimire, Student of Seed Financial academy shares his experience how did he end up choosing ACCA as a career and how he find during his study.

I was an academically bright student from my childhood. At least that’s what everybody told me. I passed school with good grades, joined science, Biology. I believe with the completion of the high school lies the major turning point of student life and a very confusing moment for choosing the right career.

As a child, I was unsure about my future career with changing aims for the future. It was in grade 8 when I first got introduced to an accounting subject. It was completely new for me and boring at first sight and also for the whole of class 8. For a moment, I regretted choosing Accounting over computer science. These trial balances and memorizing definitions of banks didn’t make sense to me at all. Thanks to my second account teacher who changed my perspective towards accounting in class 9. Balancing numbers, classifying items suddenly became a fun thing to do and involved thinking. He made us grasp the concepts and basics of accounting, where I began to find myself interested.

It really amazed me when teacher talked about how thousands of people are the owners of the bank and not a single person, how a paper money can buy me a valuable gold, how big companies manage their capital, assets and how accounting is the backbone of any organization, how outstanding expense and accrued income were just different than simple other expenses and incomes. Well, I loved doing it, learning it. After SLC, I read some of the bestsellers like ‘Think and grow rich’, ‘Rick Dad, Poor Dad, Warren Buffet’s biography, etc. This inspired me to understand more about the business world.

However, I still wasn’t sure, if accounting was what I will choose as my ultimate career and didn’t choose a management stream in 10+2. The +2 science was all exciting nevertheless, but my core interest lied in accounting, business and numbers.

During my desk research and college visits for my career after +2, I discovered an enticing professional qualification ACCA. I was positively driven by its wide and real-world syllabus firstly and its global recognition. It seemed to cover almost all aspects of the corporate world and beyond. The course of 13 subjects (papers) is so precisely designed into fundamentals, skills, professional and experience part. ACCA takes us step by step to develop our mindset and prepare us mentally and skillfully for the real-world scenarios.

Let’s not even get started with its flexibility. After fundamentals, any paper can be given without any particular order and four exam sittings in a year. They are constantly challenging other local accounting qualifications whose exam structures make them unnecessarily complicated. You study the paper you want and sit for the exam you think you are prepared for in the time you want. ACCA is concerned about our feasibility and wants the best from us. It publishes useful articles and reports for students about exams, updates timely, and has a dedicated online platform to help students all at an affordable cost.

So, my ACCA journey. I joined one of the established colleges for ACCA in Nepal. First three papers fundamentals were quite easy. But that took quite longer than it should have as I over-utilized its flexibility. After fundamentals and a couple of skill papers, I joined SEED financial academy.

With my experience what I can say is ACCA has never been so much fun and understandable before joining SEED. SEED’s teachers seem to have some secret recipe for us ACCA students that makes us enjoy the complex subject matter along with the very high probability of our success.

ACCA is a walking contradiction, it’s hard but easy.

It should be provided with our time and dedication as it deserves. The success of any Skills paper’s exam has been dependent on my grasping of concepts and being comfortable to apply in real-world scenarios. And absolutely no colleges in Nepal know this better than SEED. The wisest decision in ACCA journey was to be part of this amazing team.

ACCA is full of highs and lows. One needs to stay positive in life, no matter what. It feels that sometimes our hard work isn’t paying us but we shouldn’t forget the failures are preparing us for the real world and unleashing our potential we are unaware of ourselves. Life is not always a bed of roses. If it’s worth doing it will be hard, if it’s not hard, then it’s probably not worth doing.

Find ACCA recourses : Here

Yes, of course, there are exceptions, but the overwhelming rule I have come to learn is that all things that are important and good, are hard to achieve.

They just are, which is why so few do them, the hard things. Why so few risks, stick their necks out and struggle to make a difference?

The journey is mid-way and a lot to go on.

Also Read ACCA Experience by Asmita : Her Journey with ACCA

Ujjwal Ghimire

Student at Seed Financial Academy

My Journey with ACCA – Experience by Asmita Thapa

Our student shares her ACCA Journey an Experience in study.

A lot of young people are stuck, not knowing their purpose in life. They lack direction and oftentimes, even a destination. They’re desperately worried about their career and future. Every career option seems fascinating, at the same time none seems convincing enough. Fresh out of high school, I was no different. Then ACCA rescued me from this dilemma.

I was referred to ACCA by a close family member who is an economist and a successful businessman. Neither I nor my parents had ever heard of ACCA before, but he convinced us that it is a very forward-looking course and the right kind of course to suit my needs of a practical knowledge-oriented education. Initially, I was lured by the foreign certificate I would attain, but what actually got me enrolled in ACCA was the flexibility it had to offer in its exams: the three months exam cycle, the computer-based format, and multiple-choice questions. For a girl who believes she has big things in store for her and is willing to work hard for it, but is heavily struck by exam anxiety, I was relieved. Now I could pace my exams so as to fit my own needs of rebuilding my exam confidence.

In the first week itself, I knew accounting definitely was my field of interest, with logical and factual topics, even more interesting to me than what I learned in +2 Science. I thoroughly enjoyed studying F1. Even amidst the chaos of my anxiety, I knew one thing for sure- all that matters eventually is knowledge and exams are secondary. When I learned that in exams we were even given a formulae sheet including hard-to-memorize relations, I asked the teacher in utter disbelief why ACCA was being so lenient. He told me that ACCA needs us to know how to apply the formulae, not rot-learn something one can google, copy and paste anytime. With that conversation, I knew I had not only chosen a professional course, but a way of life. I had found my passion. And all ACCA expected of me was to have a head full of concepts and be able to pour at least 50% of what I know in the exams. And even if I scored only the bare minimum to pass, I would still be treated with the same respect as those who score 100%. When all the lecturers, fellow students and the ACCA team itself are so motivating, uplifting, helpful and humble, it becomes easier to pick up the same traits of wanting to learn more, share more and treat everyone with reverence. It has helped me boost up my confidence a great deal, and I have been able to regain my esteem with every passing exam. Now I am aiming well above mediocrity in life, dreaming big and as ACCA suggests, “thinking ahead”.

Courses offered By Seed academy: See courses

ACCA on its part never fails to show that it truly cares for us students- be it by regularly publishing articles and study resources on its website or by sending emails and newsletters reminding us to prepare well for exams or by organizing various events to equip us with skills required in future accountants. ACCA keeps regularly updating its syllabus to make it more relevant with time and to incorporate emerging topics in accounting. It has very well embraced digitalization through its CBE exam format. Not only that, it highlights the importance of ethics and emotional intelligence, the knowledge of which is very important to this generation of professionals that is slowly losing core human values and empathy to a money-minded business culture. ACCA has been constantly grooming us for real-life scenarios, not just for the workplace but for every walk of life.

I am amid my journey to being an ACCA and after completion, I am secure that I will become a responsible accountant and a worthy citizen of the globe. I hope to be able to give back to the ACCA fraternity in substantial ways by living up to the spirits of ACCA and advocating for proficient, ethical, humanitarian practices of accounting.

Want to know more about acca course: Resources of ACCA

Have any questions you can visit our Frequently Asked Questions (FAQs) Page or Contact us at +977(1) 4410113

Asmita Thapa

Student Seed Financial Academy

CA, ACCA and CPA Misconception and Facts

“Chartered Accountant (CA)” is a very popular designation in Nepal and mostly in South Asia. However, most of us might be unaware that there are so many other designations in the world such as Certified Public Accountant (CPA), Chartered Certified Accountant (ACCA), Public Accountants (PA) which are similar to CA designation and persons having those designations perform similar works as those done by Chartered Accountants. To clarify the misconceptions and spread the awareness of facts about these designations and the qualifications, I, hereby, have made some common and distinguishing points about some popular professional accountancy qualifications and related designations around the world.

Common Responsibility:

Whether called CA, CPA or ACCA, they all are Professional Accountants or Public Accountants whose primary responsibility is to act in the best interest of the public. CA, ACCA or CPA is also the name given to the Qualification to become a Professional Accountant. There are many other names such as Public Accountant, General Accountants used to refer professional accountants in different countries.

Umbrella body:

These designations refer to the membership of professional accountancy bodies and those professional bodies are the member of an international body called IFAC (International Federation of Accountants), also known as the mother body of accountants.

Auditing Right:

All designations mentioned above have the Public Practice Right (what we understand as audit in general sense) in the country of their origin. However, for audit practice, the members need to hold a Certificate of Practice (or other similar certificate) awarded by their professional body. Gaining public practice rights in other foreign countries is only possible if there is a pathway. The pathway may exist as per the Mutual Recognition (bilateral) Agreement of the particular body with the local body or unilateral recognition/exemptions provided by body of the respective country.

Minimum requirement, different structure:

The criteria for awarding membership and practicing certificate vary from body to body but in common, all designation at least requires completion of Specified Examination and Practical Experience. However, the structure of qualification, rules, subject matters, examination pattern, experience eligibility, etc. of each body are different.

Employers viewpoint

Employers who have at least little awareness about these designations treat them as Par. For reference, here are extracts of two vacancies:

Announced by WTO (World Trade Organization) for the Internal Auditor:
REQUIRED QUALIFICATIONS (Education):
An advanced University degree in Auditing, Accounting or other related fields with a financial orientation or a combination of a basic University degree with either a professional certification or proven professional expertise. A professional certification such as Certified Internal Auditor (CIA), Chartered Accountant (ACCA/CA), or Certified Public Accountant (CPA).

Announced by NRB (Nepal Rastra Bank) for Officer 3^rd Level:

Varied Recognition :

Though CA, CPA and ACCA are similar qualifications, in each country the value and recognition of one may supersede the other depending upon the market, market share of bodies, awareness amongst & preferences of employers, the legal status and the relationship with the national body, agreement with employers/govt. bodies/universities etc.

Awarding Bodies:

The most interesting fact is there is only one body (UK based Association of Chartered Certified Accountants) providing ACCA qualification all around the world whereas CPA and CA qualifications are provided by local bodies in various countries (for eg. CPA qualification is provided by American Institute of Certified Public Accountants (AICPA) in USA and by CPA Australia in Australia, likewise, CA is provided by Institute of Chartered Accountants of India in India and Institute of Chartered Accountants of Pakistan in Pakistan)

No. of bodies in a country:

In some country there is a sole body which provides its members right for statutory audit however interestingly in some countries, there are two or more than two bodies having access to such right. For instance, in the USA only AICPA is recognized for having statutory auditing rights whereas, in UK ACCA, Institute of Chartered Accountants of England and Wales (ICAEW), Institute of Chartered Accountants of Scotland (ICAS) and Chartered Accountants Ireland (CAI) have public practice right.

CA, CPA and ACCA in Nepal:

In Nepal, large no. of CAs from the Institute of Chartered Accountants of Nepal (ICAN) & Institute of Chartered Accountants of India (ICAI), hundreds of ACCA members from ACCA, UK and very few CPAs from AICPA are working in industry and in practice. Only the members of ICAN have public practice right in Nepal. As of the date of publication of this article, there is no pathway for new members of ICAI and members of AICPA to get the membership of ICAN. However, ICAN has a mutual collaboration agreement with ACCA, UK which has provided a pathway for members of ACCA for ICAN membership and public practice right. CA education is imparted by coaching centers accredited by ICAN whereas ACCA qualification is imparted by the Approved Learning Providers of ACCA. No tuition providers exist for CPA qualification.

Misconception and facts about CA, ACCA and CPA –Written by Mr. Baburam Adhikari ACCA, a member of the education team of Seed Financial Academy

Study ACCA qualification in Nepal

The Association of Chartered Certified Accountant (ACCA) is a leading global accounting body based in the United Kingdom offering ACCA qualification around the world. ACCA qualification serves as one of the best career options for students who are determined to become competent accounting and finance professionals. With the ACCA qualification, you can discover a world of opportunities on various roles in accounting, finance and business management.

ACCA qualification has 110 years of history delivering values and preparing qualified accounting professionals. That’s why employers all around the world trust ACCA qualification as a ‘seal of approval” in the field of accountancy and finance.

Reasons to choose ACCA Qualification in Nepal

Worldwide Recognition

ACCA is an internationally recognized global accounting body with 208,000 members and 503,000 students in 179 countries around the world. This means, once you have successfully completed the ACCA qualification, you become part of a globally recognized accounting body.

Every organization needs an accountancy and finance professionals to run them efficiently. ACCA professionals are in high demand by employers in the industry, banking, auditing, consulting and other professions like taxation and law. With ACCA qualification, you can travel and work anywhere in 179 countries. ACCA has partnered with ACCA Approved Employers who provide a working opportunity for ACCA members and trainees. ACCA has more than 7400 Approved Employers globally. Further, there are more than 80 accountancy partners worldwide that help to find the job for ACCA professionals through the ACCA career job boards.

Practical work experience

The ACCA qualification not only focuses on theoretical knowledge but also on practical application of knowledge. Students must go through 3-year practical experience (internship) under certified Accountant professionals to be eligible for an ACCA qualification. By this time, students will have diverse knowledge and understanding of various areas of Financial Management, Taxation, Audit and Assurance, and Financial Reporting. In addition, students need to complete 20 hours of online training on “Ethics and Professional Skills Module”. So, ACCA professionals can carter their technical skills and professional values to drive the growth of a company. That’s why ACCA professionals are highly qualified and regarded worldwide for their in-depth knowledge and practical work experience.

Flexible Study Options

Studying ACCA qualification offers many options for students. You can study full time, part-time, in-class or over the internet, at their own pace. You can study with ACCA “Approved Learning Partner” (ALP), face to face with tutors, take an online class or choose a mix of three at your convenience.

You can enroll in an “Approved Learning Partner” as a full-time student to complete the course as soon as possible. Working professionals can organize their own time and can study part-time. Furthermore, you can study online through ACCA X.

It offers flexible options for students to learn through different channels. For example, you can attend a classroom for certain papers, and take an online class for other papers. In addition, you can get an opportunity to get additional qualifications – a BSc degree from Oxford Brookes University and an MSc degree from the University of London through your journey to ACCA qualification.

ACCA qualification exams are held quarterly. Students must pass 13 exams to get the ACCA qualification. Students have flexible options to take an exam on their preferred time and simultaneously carry out their work experience. They can also take an exam in their chosen field as there are ranges of subjects available to specialize in:

Advanced Financial Management
Advanced Performance Management
Advanced Taxation
Advanced Audit & Assurance

Career Progression

Research shows that building professional networks lead to more job opportunities, deeper knowledge, improved quality of work and job satisfaction. ACCA qualification gives you access to a global network and ample opportunities for career progression. Upon getting ACCA membership, you will have access to thousands of professionals globally on the ACCA LinkedIn Network, where you can connect with fellow ACCA professionals. Similarly, you will have a global networking opportunity among fellow students through the ACCA Virtual Learning Community.

Having ACCA qualification opens doors to outstanding careers in accounting, finance, and senior business management positions. ACCA qualification follows international accounting standards. Also, ACCA professionals have a better understanding of the rules and laws of accounting practice worldwide. In addition to knowledge, employers are looking for soft skills in prospective employees. Various skills such as communication skills, interpersonal skills, ability to work in a team, leadership skills among few. The best way to learn soft skills is through work experience. What sets apart ACCA members from other professionals is their 3-year work experience to get ACCA qualification. Up to this time, they have a better understanding and experience of working culture and corporate systems which is beneficial for their career progress.

ACCA qualification emphasizes continuous improvement, high performance, and consistent achievement to become a better accounting professional. Every year, ACCA professionals must do Continuous Professional Development (CPD) training as part of ACCA membership in order to keep up to date with the latest knowledge and skills in accounting and financial practices. These practice helps to bridge the skill gap and equip professionals for their career progression.

Quality Assurance

The resources ACCA qualification provides meet the high standard. Upon joining the ACCA course, you will have access to online resources, study guides, past papers, and study guides. You will have 24/7 support in an online learning community. Furthermore, the course is taught by highly qualified ACCA professionals.

ACCA regularly look into Approved Learning Provider(ALP) that are specially selected under ACCA supervision. Seed Financial Academy is one of the ALP’s that offers the ACCA qualification in Nepal as per the standard approved by ACCA.

Moreover, the incorporation of the concept of 3Es: Exams, Experience and Ethics as the core elements of ACCA qualification will prepare an outstanding accounting professional. No doubt, the achievement of these elements supports your professional growth.

Study ACCA qualification in Seed Financial Academy

Seed Financial Academy was established to address the need for quality and result-driven teaching of professional courses like ACCA qualification in Nepal. Students currently struggle to access the resources and support required to succeed in professional courses, with academic courses dominating the curriculum. At Seed Financial Academy, we are dedicated to the provision of eminent professional education at our state-of-the-art campus, with interactive, tech-based learning. Our mission is to coach students, not only academically, but prepare them for successful professional careers with our complimentary courses in interpersonal skills, resilience, and personal development. Currently, we offer courses on:

The ACCA qualification
Diploma in Accounting and Business Foundation in Accountancy (FIA)
B.Sc (Hons) in Applied Accounting
Diploma in International Financial Reporting Standards (Dip IFR)

If you have any questions, you can visit our Frequently Asked Questions (FAQs) page or Contact us at: +977(1)4410113.