Like every other financial course, ACCA course requires serious dedication on the part of the students, since passing a globally accredited curriculum is not a breezy walk indeed. Moreover, ACCA professionals have to work in a challenging atmosphere, which is subject to many changes. Before you invest your time in taking up this course, analyze whether you possess the following skill sets.
1) Flair for accounting, laws and regulations:
The candidate would need to be comfortable with accounting. There will also be numerous laws, regulations and accounting standards to memorize. Not only do you need this for the exam, pursuing this course would mean you end up with an accounting career for good, so it is best that you have a keen interest in it. The role of an ACCA is in the core accounting and allied finance fields, and if you think you have an inclination in this field, only then you should consider the role.
2) Quantitative and analytical ability:
Number crunching will be part and parcel of the exam as well as this career. Moreover, with the development of many analytical tools, he is expected to eventually learn them.
The entire course has 14 exams and it may take up to 3-4 years to complete the course. Efforts will need to be made in a consistent manner over a relatively long period of time.
A lot of candidates have benefitted from enrolling in coaching institutes to help them understand tough concepts, manage their study time and practice mock tests. Having regular discussions with a peer group also greatly helps in understanding complex topics.
4) A Quest for Knowledge
The world of finance is influenced by business changes, government rules, economic changes, foreign relations, etc. Standards of accounting are subject to change, a recent example being many countries converging their accounting standards to IFRS. Moreover, taxation rules also keep on changing. Plus, he has to keep abreast with the changes brought in due to IT. In short, learning never ends for an accountancy student.
Thus, ACCA is an apt platform to build a successful career in the professional accountancy, however, as students, they’ve to keep building their career profile, and learning never ends.