Why study ACCA?
If you’re interested in the field of accounting, you will likely already know about the Association of Chartered Certified Accountants. ACCA is the world’s leading body for professional accountants and the best way for aspiring (and practising) accountants to get ahead.
By studying an ACCA, you will enhance your analytical skills, gain professional expertise and a comprehensive knowledge that can be applied in the real world.
Many employers look to the ACCA body to gain reassurance of a candidate’s expertise so gaining this qualification will help you secure a lucrative and highly-regarded role. Currently, the ACCA has 188,000 members and 480,000 students across 170 different countries. The qualification is globally accredited, and you can tailor your studies around local law and tax laws to suit wherever you want to go. This means gaining an ACCA is a fast-track way to a global career in accounting.
There are many reasons to study an ACCA qualification including increasing job prospects, accessing a global network and enhancing your skills and knowledge. As a student, you will need to stay motivated and stick to a schedule to make sure you get the most out of your studies. Below are some study tips for getting the most out of your studies and passing your ACCA exam the first time:
Make use of the global community
While you will have other LSBF course mates (online or in person) who you can collaborate with and organise study days, you will also gain access to ACCA’s wider network. Take advantage of potential mentoring opportunities that you can access by attending in person events and connecting with others through the ACCA virtual learning community.
Making a revision timetable is a great way to plan out your studies and make sure you can manage your time efficiently. Devise a routine, and incorporate short study blocks with frequent breaks as this is shown to be the most effective method. Mix up the different elements of the ACCA syllabus and make sure you are spending enough time on the areas you find harder.
Create a learning map
If you’re a visual learner, this is a great tip. Map out what you need to learn by creating a colourful mind map. Get creative and use different shapes, colours and styles of diagrams so you can see where you need to focus on and how these areas overlap.
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Find your favourite study place
If you struggle to stay motivated when it comes to studying – this is a great tip. Find somewhere quiet with little distraction, that you still enjoy being in. This could be your favourite coffee shop or café, a nice library or a space in your home.
Split your studies into sections
Many of our students are studying alongside other commitments. To do this successfully, you need to plan a strategy to make sure you cover everything. The ACCA syllabus consists of three stages:
1: The Applied knowledge stage which contains three exams:
- Business and Technology (BT)
- Management Accounting (MA)
- Financial Accounting (FA)
2: The Applied Skills stage which contains six exams:
- Corporate and Business Law (LW)
- Performance Management (PM)
- Taxation (TX)
- Financial Reporting (FR)
- Audit and Assurance (AA)
- Financial Management (FM)
3: The Strategic Professional stage which contains six exams.
Make use of past papers and online ACCA resources
Enhance your studies by revisiting past papers to test your knowledge. Just make sure you are considering the changes that have occurred to the syllabus when referring to older papers.
Make summary notes
Although this is an obvious point, it is an essential element of learning as you go. Make sure to take notes summarising theories and information into your own words while you are learning. Make notes in notebooks or create flash cards to test yourself.
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Don’t forget to rest
You can’t pour out of an empty tank, so make sure to take time to rest and see your friends and family too. Don’t feel guilty about spending spare your time doing non-exam preparation activities. You should also focus on eating well and exercising. This will help with your physical and mental health and it’s proven to support brain performance so will help you do better when it comes to exam time.
Do you want to gain a qualification that will help you get ahead in accounting and is recognised by employers across the globe? Let LSBF support you to pass your ACCA exam first time.
Get free access to our ACCA online demo here.