5 Myths that stop you from Pursuing ACCA

So, you came across an exciting professional degree- ACCA. You sat in front of your laptop and did some research, talked with people who are pursuing or have already passed it. Their response is positive. With its global recognition, it’s flexibility, the interesting syllabus and diverse career opportunities, this qualification just seems to fit your career objectives.

You think of pursuing it, but meanwhile, you start hearing about widespread myths and misconceptions about the ACCA qualification from different people and sources. You can’t escape it and now having second thoughts on whether you should pursue ACCA or not. We are inherently more susceptible to negative reviews than positive.

So, are these talks and fallacies that discourage you to finally land on your dream qualification and career real? Well, let’s find out.

Now that I have cleared all of my skills level exams, shortly worked in an audit-firm and contracted for internship in the capital market field, I can look back to say, ‘Yes, I made the right choice’. ACCA is in alignment with my career goals, opened the doors for endless possibilities in the broad arena of accounting, auditing, finance, and whatnot.
Based on my experience and knowledge, I have attempted to bust 5 of those myths that stop students from pursuing ACCA with actual reality to make it clear for you to decide.

MYTH #1
Since its UK-based degree, I will struggle to find Job in Nepal after ACCA. 
Or, I will have to settle or move abroad after completion.

REALITY: There is a huge scope of ACCA in Nepal. Many ACCA affiliates and members are working as mid and top-level managers with an attractive profile and salary in the big reputed organizations including the public service or government sector. The world becoming increasingly global makes ACCA even more lucrative qualification to pursue and the scope for ACCAs only seem to be going up. The fact that ACCA is UK-based Chartered Accountancy only opens the opportunities in abroad without hampering the scope and opportunity here in Nepal.

MYTH #2
ACCA is expensive.

REALITY: Fees of studying ACCA in Nepal ranges anywhere between 4-6 lakhs which is cheaper than other qualification like BBA and almost equal to other Chartered Accountancy qualification. On top of that, some colleges will even provide you with a scholarship. Honestly, the tuition fee is very affordable for one of the leading financial courses around the world. It’s more like an investment than an expense. Once you are qualified as ACCA, the payback of the amount one spends on pursing it is in around 1 year and the career growth is infinite. In short, it’s a worthy investment.

Myth#3
ACCA is an extremely tough course and I cannot pass it. 
Or, I need to study 14-16 hours daily to pass it.

REALITY: If you plan everything from the beginning, give few hours daily and use the resources wisely, it’s not that difficult at all. However, you cannot expect to pass by studying a night or a week before the exam. It becomes tough because people work hard in the wrong direction and are less aware of all the study resources, exam-style and examiner’s expectations. Small continuous effort and a good approach are all it takes.

Myth #4
ACCA is all about numbers. The profession is boring with no social life and friends

REALITY: This is not true. ACCA is a lot more than just numbers viz; analysis, client relationship, decision-making, implementing various strategic decisions, teamwork, presentations, going to various organizations for audit etc.
ACCA is anything but boring. The job roles are self-actualizing and since you have a lot of career options to choose from once you qualify, you can dive in the field that excites you. Furthermore, you can always have a good balance of personal and professional life. Also, with the increased network, you will never run short of friends.

Myth #5
I need management/commerce high-school degree to pursue ACCA.
Or, I am a Science or student from another stream, so, it is not for me.

REALITY: There is no specific high school degree requirement to pursue ACCA. You can be from management, science or any other stream and still pursue it.
Since the course structure starts from the foundation level, you will learn from the very basics ,therefore, no matter which stream you chose in +2, you will not face any difficulty at all.

Apart from these, some might say there are no good colleges. That’s again not true. There are some of the best ACCA colleges in Nepal with astonishing achievements like world rank 1st.

These myths are floating around on unreasonable grounds and make students reluctant to apply and land on their dream qualification. Don’t let these myths stop you from achieving your dream.

Ujjwal Ghimire

acca journey an experience asmita thapa

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”.

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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

acca qualification in nepal

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.