“Nothing worth having comes easy”, quoted Theodore Roosevelt. The same stands true for an aspirants query on, “why is the ACCA difficult?” The answer to the question of the discussion is not as straightforward as one expects. The ACCA examinations are designed to be tough for imparting practical application and introduction of real-world business scenarios right from the start. The exams are tough but not unconquerable as people deem it to be. It is true, the pass percentages are quite low – compared to university qualifications with similar elements to ACCA but it is a qualification easily conquerable with the right approach.
Is ACCA worth It?
The difficulty, dedication, Practical Experience Requirement PER, a total of 14 examinations with a few compulsory subjects can deter you from pursuing your career as an ACCA. “The fruits of labor are the sweetest of all pleasures” as quoted by Luc de Vauvenargues. The quote definitely explains the ACCA to its fullest. Hard-earned ACCA qualification allows you to be a globally recognized Chartered Account, Forensic Account, Financial Advisor, and more; depending on the pathway one wants to head when becoming an ACCA member. Further, global opportunities to join Multinational companies MNCs, the flexibility of completing the course over a 10 year period, and booking an exam at personal discretion in one of the four examination cycle makes ACCA lucrative. So, Is ACCA worth it? It depends on who you ask but given the opportunities, it’s a definite YES!
What’s in ACCA?
The ACCA is a Chartered Accountant CA degree, like the one offered by The Institute of Chartered Accountants of Nepal ICAN or the chartered accountancy body of any other nation. The students who choose to become an auditor through chartered accountancy degree with ACCA enjoy recognition in over 179 countries; unlike, respective CA qualification from their home countries. The ACCA is distinct from other chartered accountant courses because it offers a range of different career choices apart from auditing. The ACCA consists of 13 examinations – Computer Based Examinations CBE make up 4 papers and 9 are Paper-based examinations which are organized in separate venues. A mandatory Ethics and Professional module, along with PER completion allows one to become an ACCA. Further, pursuing country-wise course materials when approaching examination allows one to specialize and become a professional accountant in the country of their choice. ACCA in Nepal does not have such standardized paper but countries like the UAE, Singapore, and other regions of the globe offer such paper choices, allowing easy opportunities in their job markets. For a detailed outlook on ACCA, check out our blog on ACCA Journey.
Why is ACCA difficult?
The detailed nature of the ACCA curriculum stems from the need to establish the credibility of the skills and professional mindset gained upon completion of the course. The course covers all portions of the real world laws and scenarios essential for the business and ACCA Approved Employers that trust the quality of its course materials. The difficulty of the course material is not limited to the course but other factors outlined in detail below.
- Previous Background
The ACCA qualification is open to any aspirant, possessing a high school degree with Maths and English included in their qualification. It translates as 3GCSES and 2 A levels in the UK but those pursuing ACCA in Nepal can admit themselves with +2 qualification. People with Masters, Bachelor’s degrees, and years of employment in certain fields can join in ACCA examination with paid exemptions. Those, with previous knowledge of accounting, taxation, or any subject matter involved can find clearing the ACCA easy. However, the students with no idea of the basics might have to put an extra amount of effort making the ACCA feel tougher. Students with prior accounting and other business courses experience throughout their previous employment or studies, find it easier than those approaching the course from different background.
- Students Approach to studies
Some choose to study the course material on their own while others choose to join an Approved Learning Partners ALPs for completion of the ACCA. While people do pass the course with self-study, it gets twice as harder with that approach. We recommend joining a Gold standard Approved Learning Partners ALPs for a guided and easier learning process. Pursuing the ACCA qualification while working is another reason for ACCA’s difficulties. Why is the ACCA difficult, boils down to several different factors of your studying methodology – the students who start reading way early than actual examination score higher than one starting midway. Students in Nepal should definitely check the ACCA approved Colleges in Nepal blog before committing to full-time ACCA studies.
- Completion Deadlines
The ACCA is a flexible course as outlined earlier, one can take 10 years to complete it, should they wish. The ones taking a longer time to focus and complete papers with an ample amount of time can find approaching the vast course material with ease. However, most aspirants take 3 to 4 years deadline to complete the course. Since the students have a lot of materials to deal within a short period of time, the course can be taxing mentally and make ACCA completion harder. The higher the number of examination one takes up during an exam cycle, the higher is the amount of pressure. Thus, students should really take time to plan out the number of years, they wish to complete the course in. ACCA papers are not really difficult, given student plans, and spends an ample amount of time on each paper.
The sheer level of effort an aspirant puts into becoming an ACCA. One may have to miss the gatherings at certain times, spend higher amount of time learning and miss out on fun at times. Before, you laze off and push the examination to later date or bring your reading session to a halt; remind yourself, Is ACCA worth it? As it’s definitely worth the effort as career and financial stability the qualification offers is not available in other professions. The lower your effort and commitment – tougher the examinations are going to be.
- Your circle
The study circle is not the only place you’ll need the moral support. Students of ACCA will need to be around friends and family, who believe in their will to complete the examination. Along the way, you will definitely need other ACCA aspirants pursuing the course for tackling the question ad sharing ideas. Being around a great study circle and supportive people can allow garnering positive feelings – approaching the course material with fresh and strong mind, can help learn or retain the course materials efficiently. It should not come as a surprise that positive people are highly successful than those battered and negative. “Why is the ACCA difficult?” May never arise in the minds of people positive, happy and motivated; by a great study and social circle.