📚 I Failed the ACCA Exams 20 Times: My Journey and Tips for Success 📝

Welcome to the latest chatter from The Accounting Parrot Newsletter!

This week, I'm sharing my personal journey with the ACCA exams. I failed 20 times before finally succeeding, and I want to offer some encouragement and practical tips for those struggling to finish their ACCA exams 📚

Why I Chose to Do the ACCA

Advice from My Tutor

A conversation with my A-Levels Accounting Tutor was pivotal in my decision to pursue the ACCA qualification. She asked about my plans after A-Levels, and I mentioned my interest in marketing. She advised me to tackle the ACCA exams first, explaining that a solid foundation in accounting is crucial. She emphasised that understanding the financial aspects of business would allow me to excel in any business role by helping companies make more money 👩‍🏫

Seeking a Challenge

I also wanted a challenge. University based business degrees often have easier, internally graded coursework, making them less valuable. The ACCA, known for its rigorous external exams primarily marked by UK examiners, promised a tougher, more respected path 😓

I expected to complete the ACCA exams within the recommended 3.5 years, but it took me 10 years, including the CAT exams. This challenging journey significantly enhanced my career journey and personal growth 🏆

How the ACCA qualification has enhanced my career journey

Obtaining the ACCA qualification has enhanced my career in multiple ways, providing me with diverse opportunities and experiences.

Finance Manager Roles: The ACCA qualification opened doors for me to become the finance manager at two startups in Malaysia. One was in the eCommerce space, and the other in digital media. In these roles, I was responsible for setting up internal financial processes and managing workflows, ensuring the financial stability and growth of both companies 👨🏽‍💼

Entrepreneurial Venture: With the knowledge and skills gained during my ACCA journey, I was able to start my ownfish farming business. What I learnt helped me with cash flow planning, budgeting, and financial reporting for investors, ensuring the financial health and sustainability of my venture 🐟

Working with Australian eCommerce Clients: The ACCA also allowed me to work as an independent contractor for two Australian accounting firms, BeanNinjas and Business Depot. Specialising in eCommerce accounting, I helped clients integrate their eCommerce software and apps with their accounting software, mainly Xero. This gave them access to real time financial data 📦

The journey through ACCA not only opened up various career opportunities for me but also provided a solid foundation for overcoming challenges. Here are some tips and strategies that helped me navigate the difficulties of the ACCA exams and ultimately succeed.

Tips for Accountants Struggling to Finish Their ACCA Exams

Keep Pushing Forward:Every time I failed an ACCA exam and attempted to retake it, I would get very anxious. When I did my F level papers, the ACCA did not provide feedback on the student's performance like they do now. I didn’t know why I failed the paper or how to improve. Don’t let this overwhelming feeling of anxiety hold you back. Keep attempting the papers, and you will eventually succeed 🧗‍♂️

Use Online ACCA Tutors: When sitting for my first Professional ACCA paper, I failed it three times. After these attempts, I realized I needed to change my strategy. I came across an ACCA article related to the paper I was sitting for and noticed the author's name, Sunil Bhandari, who also ran an online course for the same paper (AFM). After a phone call with him, he encouraged me to try again. I subscribed to his course, and in the next sitting, I passed with a strong score 💻

These are some of the amazing online tutors who helped me through the professional exam portion of my ACCA journey:

• Strategic Business Leader (SBL):Sean Purcell

• Strategic Business Reporting (SBR):Tom Clendon

• Advanced Financial Management (AFM):Sunil Bhandari

• Advanced Performance Management (APM):Spencer Cheah

Get a Job: While doing my ACCA professional papers, I decided to get a job at an accounting firm. Working and studying at the same time was not easy for me, but it allowed me to start accumulating my Practical Working Experience while finishing off my papers. Don’t wait until you finish your exams to build up your Practical Working Experience 💼

As you continue to advance in your ACCA journey, it’s important to stay motivated and explore the exciting opportunities that await. For those looking to apply their accounting skills in a unique Malaysian company, this week’s cool accounting job might be just what you need.

Cool Accounting Job

Accountant at SAC Arms (KL) 🔫
Location: Kuala Lumpur
Salary: RM 8,000 – RM 15,000 per month

Responsibilities:
Manage the full set of accounts, including monthly reports, bank reconciliation, and compliance with accounting standards. Oversee daily accounting operations such as Accounts Payable, Accounts Receivable, and General Ledger. Prepare weekly cash movement reports and assist in developing internal policies and controls. Handle yearly financial planning, budgeting, and forecasting. Liaise with auditors, tax agents, and bankers to ensure statutory compliance. Manage payroll duties and maintain employee records.

Requirements:

📍Professional Accounting Qualification (ACCA, CPA) 📚

Disclaimer: The job ads are only active for 30 days before expiring.

Don't let failing the ACCA exams define you. It's all about resilience and learning from setbacks. With the right strategies and persistence, you can turn failures into success.

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