Effective Ways to Pass the ACCA Exam

The ACCA exams are highly valued within the financial industry because the certification is trusted for its high quality and in-depth training in finance.

As an ACCA student you will not just learn the theoretical aspect of finance but the delicate balance of ethics and professionalism. You will also be able to develop your strategic professional skills through the contemporary subjects.

The ACCA exams can help you develop on a professional front to a great extent through their comprehensive curriculum.

While the exams are known for being challenging, reputed support courses can help you ace the test. Understanding the reason behind failure is your first step to effectively passing the ACCA exams.

Most students fail to pass the ACCA exams due to minor errors in the preparation process. Other reasons include poor time management, not understanding concepts, wrong style of attempting questions or due to lack of guidance.

With the right guidance, acca exam plan, study timetable and mentorship, you can pass the ACCA exams in the first attempt too!

You may be wondering:

• Is it worth it to study for ACCA?
• Why take ACCA over other courses?
• Can I pass the ACCA exams?
• What is the cost of ACCA certification?
• Is it a good choice to enrol into the ACCA?

And many more questions like these.

In this article, we will answer these questions about the ACCA exams, guide you on starting the ACCA course, provide effective study techniques, address frequently asked questions, and provide direction on how to get started with the ACCA exam preparation.

What is the Standard ACCA Exam Pass Mark?

The minimum ACCA exam passing percentage for each of the 13 ACCA papers is 50%. However, passing the exams can be a bit of a challenge when you don’t know where to start or how to prepare.

With the right tuition and support courses, you can increase your chances of clearing the ACCA exams on your first attempt!

Why take ACCA? Is it Worth Investing in this Certification?

The Association of Chartered Certified Accountants (ACCA) was established in the UK in 1904. What makes the ACCA stand out is the elite membership to the Charter of Accountants at ACCA.

This membership is for life and offers you privileges you may not find anywhere else in the accounting and finance industry. The ACCA currently has over 241,000 members and 542,000 future members. It is accepted as a valid qualification across 178 countries.

What are the Benefits of Pursuing ACCA?

1. The decision to pursue ACCA holds numerous benefits. ACCA opens doors to global career opportunities, enhances financial acumen, and boosts earning potential.
2. It equips you with a holistic skill set, combining accounting, finance, and management expertise, making them highly sought-after professionals in the corporate world.
3. Gaining an ACCA qualification opens doors for you to gain a position of influence in the world. The ACCA claims that their expertise is sought after by Governments, Academic institutions, countries, and other large legislative bodies worldwide. (Source: ACCA)
4. Having this qualification will make you more employable across the globe, opening global accounting job opportunities for you.

So, how much does an ACCA Graduate make?

In Singapore, which is one of the largest employers of ACCA graduates; Entry-level professionals with an ACCA certification are currently drawing around 30,000 to 50,000 SGD per year. With a few years of experience you would be able to draw anywhere between 60,000 to 90,000 SGD per year. Senior professionals with ACCA certification can command salaries of SGD 100,000 per year. Additional cash compensations and benefits are not mentioned in the numbers above and can differ based on the employer.(Source:Quintedge)

How do I Start an ACCA Course?

1. Begin by researching accredited institutions offering ACCA courses.
2. Choose a study mode that suits your schedule—whether self-study, classroom, or online learning.
3. Register with ACCA, you can choose your entry point based on your experience, educational qualification, and expertise. For example, if you are a senior accountant, you may be exempted from a few exams.
4. After your candidature is approved, work on gathering study materials. The ACCA offers you access to their vast library of knowledge once you are successfully enrolled.
5. Additionally, you can consider signing up for an ACCA support course, where you may find guidance from enrollment to examination and even placement assistance.

How can I Study Effectively for ACCA?

Here are 5 tips for you to consider while studying for your acca exams:

1. Understand the Exam Structure:

Familiarise yourself with the exam format, question types, and time allocation.

2. Good Study Habits:

ACCA emphasises the importance of good study habits, including setting clear objectives, maintaining a dedicated study space, and practising regular revision.

3. Effective Time Management:

Develop a study timetable, allocate specific time for each subject, and take breaks to optimise your concentration.

4. Utilise ACCA Resources:

Leverage official ACCA study materials, practice exams, past papers, and online resources to supplement your learning.

5. Interactive Learning:

Engage in discussions, join study groups, and attend webinars to gain insights from peers and professionals.

In conclusion, mastering the ACCA exam requires dedication, effective study strategies, and a comprehensive understanding of the course.

By starting with a clear plan, leveraging study resources, and adopting good study habits, you can navigate the ACCA journey successfully. Remember, the ACCA qualification is not just about passing exams; it's a gateway to a rewarding career in finance and accounting.

The ACCA exam takes about 3-10 years to complete, however, this time frame can be shortened with the help of support courses from reputed institutions and approved ACCA learning partners. The London School of Business and Finance, Singapore campus (LSBF) offers you  ACCA courses with proven success rates.

With the right support course, you may be able to complete the ACCA syllabus within a shorter period with less stress!

Sign up today to learn more about ACCA at LSBF.

This blog was written by Rebecca Paulraj and Edited by Taylor Gardner.

FAQs:

1. What is the fastest way to complete the ACCA?

The duration to complete ACCA depends on individual circumstances. However, some students have accelerated their progress by combining self-study with intensive revision and ACCA support courses.

2. Is ACCA harder than CIMA?

The difficult comparison between ACCA and CIMA is subjective. Both qualifications have distinct focuses—ACCA is broad and covers accounting, finance, and management, while CIMA is management-focused. However, based on pass percentages alone, it appears that ACCA with a pass percentage of 30-40% is slightly tougher than CIMA which has a pass percentage of 50-60%.

3. How much does an ACCA course cost?

The cost of the ACCA course varies based on factors like tuition provider, study materials, and exam fees. On average, students may spend between 800 and 4,000 SGD excluding additional expenses like registration fees and textbooks.

The London School of Business and Finance Singapore, an approved learning partner of the ACCA offers you on-campus ACCA courses

You can choose to opt for the standard revision course which is the least costly among the three options. What’s more, you can choose the subjects you would like revised or covered by the ACCA course at LSBF. Each subject is priced differently in the course sheet.

ACCA course fees in Singapore start from 300  per paper.(Source: LSBF)

4. What is the hardest ACCA exam to pass?

The difficulty of ACCA exams varies for each student. However, historically, students often find the Strategic Business Leader (SBL) and Advanced Taxation (ATX) exams challenging due to their comprehensive nature.

5. What is the ACCA global Pass Rates?

ACCA provides global pass rates for each exam sitting. The September 2023 ACCA exam pass rates are as follows: Advanced Audit and Assurance (AAA) and Advanced Professional Management (APM), under the Strategic Professional Exams has the lowest pass percentage of 34% while, Corporate and Business Law (LW) of the Applied Skills exams had the highest pass percentage of 84%. (Source: ACCA)