Written by : Jawala Rathi
It is a noble decision to start a journey toward becoming a Certified Chartered Accountant through the Association of Chartered Certified Accountants (ACCA). It offers international recognition and unlocks numerous career opportunities. However, as with any educational pursuit of great magnitude, there are certain challenges involved. While embarking on this journey will bring you success, it is fraught will many challenges. However, nothing is impossible when you approach a problem with the right mind. Let’s consider a few common challenges faced by the student community in ACCA and look at ways in which to address them.
Balancing Work, Study, and Personal Life
Effective time management is one of the major challenges facing students of the ACCA program. Most of these students work on a full-time basis, and at the same time, they handle personal commitments and their studies. This makes them overwhelmed most of the time.
The key lies in time management. One can very much do it by having a well-structured study schedule. Devise the breaking up of study material into chunks and set realizable goals. Also, make sure to include time for relaxation and personal activities in the schedule so that no chances of burnout are there.
Complex and Vast Syllabus
The ACCA syllabus is both broad and wide. In fact, with there being 13 exams to pass, the sheer volume can be daunting. But it’s doable with an effective study approach.
Focus on topics where you are strong and where you are weak. Utilize the official resources available from ACCA, such as study texts, past exam papers, and practice kits. One can also join a study group or find a study partner to give mutual support and understanding of difficult concepts.
Pressure of Expenses
The process of acquiring ACCA qualification costs a lot. Associated costs include registration, examination, learning materials, and tuition fees for classes. For many students, this is already a lot, especially for those who are financing their own studies.
In order to tackle this situation, you must prepare you exam schedule and do the financial planning and make sure they both align. Financial planning for each testing cycle and spreading the cost across time may also help to minimize the financial burden. The cost of tuition varies and they may eat a major chunk of your academic budget. However, you can study at Tabani’s Ecadmey. and get the best ACCA lectures from the professionals of the field without breaking the bank. Moreover, ACCA hub is also there to help you study more effectively with its free study material. Hence, your financial burden is much relieved.
Exam Stress and Pressure
Examinations bring a lot of pressure because time, resources and hard work is involved. The high stakes of the ACCA exams add to this pressure. One wrong move, you’re out: the compulsion to pass each paper can be a cause of anxiety that may affect performance.
If you want to steer clear from this anxiety, get into a study routine of regularly revising and practicing under exam conditions. There is mindfulness, deep breathing exercises to take off that anxiety which is holding you back. Keep in mind that it’s important to have a positive mindset and not be too hard on oneself if one has not passed an examination in the first try.
Keeping Up with Continuous Changes
The accounting profession is very dynamic and is changing day by day, with constant updates to the laws, regulations, and best practices. Keeping up with these changes while studying becomes very difficult.
You should get into the practice of regularly reading professional articles and attending seminars. Also, keep following relevant accounting news sources. ACCA also offers updates and resources which can help students to track any changes in the syllabus or profession.
Lack of Practical Experience
Though the theoretical knowledge acquired through the ACCA studies is very valuable, many students find this lacking in practical experience, which is very instrumental in applying what is learned.
Look out for internships, part-time jobs, or volunteer work that gives relevant experience. That is why ACCA has the Practical Experience Requirement: to ensure students get this experience. Use the PER as a guide in searching for opportunities that will fulfill these criteria.
Maintaining Motivation Over the Long Haul
The journey to attaining ACCA takes long; it requires a great deal of effort and motivation. Students often get demotivated, especially if they fail in an exam or for any other setback.
Keep high motivation by setting short and long-term goals. Celebrate the small victories along the way. Interacting with other students of the ACCA or other professionals will help in keeping your spirits high by providing moral support. Keep reminding yourself of the ultimate goal, why you started, and the benefits of having the ACCA qualification.
Understanding the Professional Ethics Module
The Ethics and Professional Skills Module (EPSM) is a combining component of all that goes into the making up of the ACCA qualification itself; The ethical principles and the professional skills sometimes can be somewhat hard to fully appreciate and then hard to use in the practical process.
Relate the material to a practical context. Think about ways in which ethical principles you have learned apply in situations you might encounter professionally. Discussion with colleagues or mentors gives different insights, adding to your understanding.
Language Barriers
The language barrier may prove to be a big obstacle for non-native English speakers. This is more so because the language factor is always combined with another element of complexity of the material and the need to understand and express answers in English.
Improve your language skills alongside your ACCA studies. There are several resources like English language courses, online tutorials, language exchange programs, etc. Use them—you should write essays, practice case studies in English, and build your confidence.
Adapting to Different Learning Methods
ACCA has many learning options to study for exams, including self-study, online courses, and classroom-based study. Most of the time, students get lost trying to find a suitable one for themselves. Experiment with different learning methods until you find what works for you. This can be a mixture of the methods, so you get some variety. For instance, a classroom course for one paper and self-study for another can help you achieve your learning preference.
The road to becoming an ACCA-qualified accountant may be difficult, but it’s not impossible if complemented by sheer determination, strategic planning, and support. Just remember that every student who applies to the ACCA works hard to overcome obstacles, so you’re not alone in your pursuits. Keeping each challenge within view and working at getting over them will keep one on course to their professional aim. Keep the end goal in view and keep motivated—your hard work will pay off.
