Association of Chartered Certified Accountants (ACCA)
Education — By Nicholas on January 13, 2008 at 7:00 AM
I have been asked to provide a brief outlook on whats it like to be studying ACCA and how to go about it in this course. For post-SPMers who still aren’t sure of what they might want to pursue in the future or even those who had just graduated from any Pre-U programmes, I guess this post is for you. =)
Honestly speaking, accounting wasn’t my thing at all. For the 5 years in high school, I have never thought that ACCA is gonna be my field. I did alot of research after SPM on what programmes should I do, this and that, asked relevant parties and what not, and I narrowed down my scope to just two professional accounting bodies.
- Association of Chartered Certified Accountants (ACCA)
- Certified Public Accountants (CPA)
I’m sure those names would sound familiar to the some of you. Now what led me to the decision? The job security it provides.
The difference between the two is only that ACCA being a British programme whereas CPA is an Australian programme. Allow me to first enlighten you that ACCA is not just another accounting course, there is a significant difference between normal accounting degree courses and what ACCA is like.
ACCA is a professional course, so is the CPA where once you are an ACCA graduate, you are a professional, where you will be taken highly of and will be sought after anywhere you go. Of course, passing the ACCA professional exams isn’t a stroll in the park. If it is, why do you think its a professional course? 
I wont be covering the route for CPA, because well … I’m an ACCA student lol. I’m afraid you will have to find that out for yourself then =) do remember, it’s your future.
There are two ways for you to pursue the qualification.
- Sign up for the Certified Accounting Technician (CAT) programme after Form 5, which is a foundation course to the ACCA, which automatically grants you exemption of 3 papers in the ACCA level.
- You take a degree, then you sign up to do ACCA, where you are only required to do a few final papers.
I am currently in the middle of route 1, which means I have completed the CAT programme last year, okay maybe only unofficially because the outcome of it is still unknown. You see, in ACCA if you fail a particular paper you will not be able to proceed further. So yea basically I’m still waiting for my December sitting results. If I fail any …….. oh well let’s just hope I pass all =D
ACCA have two official exams in a year, which only takes place in the month of June and December. You fail in June, then you will have to wait for another 6 months in order to resit the paper you failed. The agony of waiting, trust me is not bearable.
If you want ACCA, just prepare yourself for the worst. Honestly, if you’re not diligent, I would advise you to not even bother taking the course, you will most definitely be wasting your time and money =/. Even in the CAT levels, you will be pushed to your limits, let alone in the ACCA level. Nevertheless, its still ok to adapt the laid-back attitude while you are at CAT level, provided you do your revision for studies. =D but when you set foot in ACCA ….. *oh t3h horror* T.T
So take a safer bet, do a degree and then ACCA later, well of course if you do not want to take a risk. However, worry not ACCA allows you a maximum of 10 years to complete the programme, you can take your time in doing it =) but if you’re one of those geniuses out there and pass every single sitting, in 3 years time you are done with ACCA. Some even managed to do it within 2 and a half years, having started off with CAT.
Have I mention anything about ACCA being the cheapest course in Sunway University College? LOL. Dont believe me? Go check it out yourself. xD
Anyway here are some of the websites you may find useful in your research.
or you might be interested in a few of my coursemates’ blogs, where you will see their daily struggle progress in ACCA here, here, here, here, here or here.
So my word of advice to you post SPMers, there’s no rush! just make sure you choose wisely =), if you want to take a break after SPM, go ahead but the only drawback is that you might get used to the leisure and getting the momentum running later on might be abit tougher. Make sure you know what you are doing! =D
If you have any enquiries, please feel free to drop your questions in the comments section and I will try my best to provide a reasonable answer for it.
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31 Comments
hey!
i loooooveeee d pics! cool man! hehehe.
esp ed’s pic. i saw my pic. yey.
=)
.// n i c k | hahah thank you xD
accounts..omg…CAN DIE LAAH
.// n i c k | LOL where got die?? xDD im still very much alive =DDD hahaha.
Well done with the posters. Keep it up!
.// n i c k | LOL! ACCA has gotta pay me for the advertistments xDDDD
LOL im doing CPA. ACCA sounds hard :/ gee fail one and wait 6 months more. wow! o,o
.// n i c k | ooh haha CPA has a more interactive approach compared to ACCA, they emphasize more on presentation whereas ACCA is more technical. so in a way, CPA is more fun actually haha. xDD oh well ACCA is tough but i guess we just gotta make the best out of our miseries LOL
I wouldn’t have joined ACCA after reading your post, honestly. but it’s just TOO late T_T
.// n i c k | =0 waha, just put some effort into it, i trust u wil be able to make it through! =D
HEY NICK,
Well i was just going through ur blog.. Umm yeah seems like its a bit tough.see mate im 4m India so i guess u know tot our Indian Parents are hell strict when it comes to STUDIES. It would be gud if u cud give me inform. abt the no. papers…..
And yeah,, im abt to finish my High School (sylabbus is C.B.S.E- Indian) any exemptions, or foundation courses….
And yeah.. one of ma friend is learning for CIMA.Hows CIMA compared to ACCA. Pls giv ur toughts on that….. Well hoping to c ur reply!!!!! CYA
Tony, hey there. Yes ACCA is tough in the sense that its a Professional course and its unlike any other degree courses. Like I have written, you can either do a Pre-U course first or you can proceed straight into a foundation called CAT. The foundation grants u exemption of 3 papers when you enter the ACCA level after a year. In CAT, theres a total of 9 papers you have to complete, all passable within a year. Then moving onto ACCA, given the exemption of 3 papers, you have 6 papers in the Fundamentals level, and then another 5 in the Essentials level, which is also the professional level.
Well, if you’re diligent enough, you could finish everything in 3 years. Of course I’m talking about if you’re planning to do it in Sunway University College, Malaysia. I’m not quite sure about India, I’m sure there are ACCA courses being offered there as well.
CIMA is different from ACCA, but they’re both Professional Bodies. The only different is that CIMA specialises in management accounting, which is all about budgets and performance management for companies. ACCA on the other hand deals with financial accounting. Its two different thing yea, but both CIMA and ACCA teach both management and financial accounting principles, only that CIMA is more to management accounting and ACCA the other way round.
Hope I answer what you’re looking for =D do drop back a message if I haven’t clear any of your thoughts yet. All the best!
Thanks a lot Nick!!! Well sorry for a late reply….. act.. i’m preparing for my fINAL hIGH SCHOOL XAMS SO IM KINDA busy
Well But ill be bugging u (hehe) abt ACCA after ma xams tooo….
Tony
Hey there Tony, no worries I ain’t going no where unless OurCoffeestops decides to shut down haha, which is unlikely. xD All the best to your final high school exams!
hey nick..im just finish my spm and now im deciding whether i should take acca or cpa..its confusing me..
please is like the way you guys are talking of ACCA create a kind of fobia pls i need more; encouraging advice
Stephen, actually to be honest, ACCA is very much passable, if you’re diligent lah, but of course it’s actually okay to relax and have fun like every other college kids, but you have to be consistent about ur studies! Otherwise, the last 1 month before the finals will be hell >.< (Though that happens to me all the time, thank God I made it till today)
Well despite the phobia everyone talks about ACCA, it still has the largest student bases in the world lol. Nothing in life comes easy I guess, the main selling point of you taking this paper and probably the only motivation keeping you going in this course is the international recognition it brings upon graduation. Its a professional qualification, it definitely puts you a step (probably a few) steps above your degree holder friends.
The corporate world is evolving really rapidly these days and sooner or later the degree holders will all need to take on professional qualifications to increase their employment values. That, my friend will be the day you say, “Hey, lucky I’m an ACCA grad!” Capiche?
Kimberly, ACCA is more technical compared to CPA, and its probably a much shorter course too compared to CPA (provided you have straight passes), but well CPA is more towards presentation and its definitely more interactive compared to ACCA, which also meant more .. fun? Haha it depends on individual really.
Both are professional bodies and equally sought after, but ACCA has been the more popular choice of course since its really recognised world wide. Erm not too sure about US though. So choose wisely =)
Hi there Nick,
Im back again .Well the good news is that ive just finished my high school senior secondary exams.(yepee)
And the now ive got to choose a right path on Higher Education…
Youre 4m malaysia rite… uhmm 2 of my frndz completed thier MBA 4m there.
Even i visited the country 3 yrs ago..
Well ill be doing my further 4m UK (most prob..)
Anyways my RESULTS will be out by the end of May…
Hopin to hear 4m u
TONY!!!
Hello Tony, happy to see you back in OurCoffeestops! So you’re probably taking a break from studies now eh? You deserve it! =)
Anyway yes its important to know what we want to achieve in the future, as it enables you to set your goals and choose what paths you are gonna undertake to achieve it.
I have a few friends doing their ACCA qualifications in the UK as well, studying the course in UK might probably give you an advantage since the examiners are lecturers of the subjects in the UK as well. But its probably gonna cost alot. =/
Great to hear you have visited Malaysia before! Unfortunately I haven’t had the chance to visit India yet T_T will get the chance in the future I hope. Heh.
Hey Nick,
Im really sorry for not replying to you. I WAS DAMN TENSED ABOUT MY RESULTS!!!
AND they’re out finally>>> I passed with 70%. i got 70 in accountancy too.
He he.. hey now my parents are really cramping me for studies they’re telling me to go for ACCA.
But sum of ma friends told me that it takes 5-7 yrs to complete.
I was like what the hell!!! 5-7 yrs.. In India u could study the engineering course twice. he he
Well im in a real dilemma Nick u gotta hlp me out!!!!
Do you think i will be able to complete this shit??? (pls.. take into consideration my high skool marks also)
Hoping to hear from you
5-7 years? Wow thats erm pretty insane haha, but of course it makes sense too cuz ACCA give you 10 years to complete the course. Your friends probably take into account the possibility of failing some papers, hence the longer time period lol.
Anyway, here in Sunway, it takes an average of 3-4 years completing the course, provided you PASSED every single sitting. You see, ACCA isn’t like a degree programme, if you fail a paper you gotta wait 6 months to resit it and you can’t move on unless you pass the paper. So yea thats the shitty part, but well its not entirely impossible to pass you get what I’m saying?
Honestly high school does little to what ACCA’s gonna throw at you, I’m serious, I have friends who excel in their studies in high school but when facing the trials in ACCA they fail a couple of times. But of course there are those who did just okay in high school, scoring flying colour marks in ACCA. Its abit like you know, hardwork and dilligence.
Its good to have a base in accountancy, it helps. =) For me, I didn’t take accountancy in high school but I think I’m doing okay in ACCA. Its about what you want and you strive for it. To survive in ACCA, just keep focusing on your goal.
Look on the bright side, you survive this shit and you’re an ACCA graduate, a professional qualifications holder. It will definitely give you an edge over your peers who are degree holders.
I suggest you take ACCA and go for it. The world is evolving too rapidly, in like 3-5 years time, employers around the world are gonna be stressing on professional qualifications. =)
Cool man!!! U said absolutely rite about the High skool part. Yeah the average doers pass with flying colors.. I’ve experienced them tooo hehe.
Thanks man!!! yeah now i feel like i’ll go and hit the Start Button!!!
But i’m NO Book Worm… anyways i’ll TRY and Hope for the best
hEY wait a second Nick!!!
Its fine ok we’ll complete the course say in about 3-4 yrs… But wot abt the training????????
There is a minimum of three years relevant training or approved work experience. Well what about that >>>>
Does it mean that u study for say 4 yrs and then work/train and get an employers certificate and then if its satisfactory ,WE finally get an ACCA Professional degree!!!!
So don’t u think it’ll take about 7 yrs to complete the degree!!!!
Haha don’t worry about that! As long as you completed your studies you’re gonna work just like any working adults. That 3 years of relevant practical aspects is just to prove that you have been using what you learned in your day-to-day work.
To me, as long as I completed my studies, its like graduated already, that practical aspects will pass by just a blink of an eye. You don’t need employers approval on that though, as long as you fulfilled your Practical Experience Requirement (PER), ie. 3 years of relevant working experience, you can submit it direct to ACCA and ACCA will recognise you as its member, and also to your local Institution for accountants, like here in Malaysia its called the Malaysian Institute of Accountants (MIA).
Just take it as it goes haha!
COOL nICK….
u mean to say once you pass the studies…. it’s DONE. And there is no need of employers approval.
Now IT Sounds Good!!!
Thnx
hi,i will like 2 ask if loan or scholarship will be offer for acca student?
hey ..i searched through the web for any credit transfer for cat and i found out yours..so are there any credit transfer for cat ?i just finished my t6 and t7 exams few days ago and will be sitting for my t9 and t10 this coming tuesday and wednesday…what happens if i suddenly wanna quit my cat and opt for a degree program?will i have to start all over again from the basics ?
Some degree programs do accept CAT qualifications though, you will have to check with the respective universities you want to pursue your degree from. Heh, as long as you complete CAT, you can always opt to quit from ACCA.
But if you haven’t completed the CAT and would wish to quit then, I’m afraid you would have to start from the beginning, ie. Pre-U program 1st =/
heyy..i was wondering what happens when you pass this?you get the certificate immediately or not until ur 3 yr expierence..and will it be reflected as to how long you took to finish the course..?and is the mark of any importance?
after successfully passing all the papers in ACCA, indeed you need at least 3yrs of working experience before you can apply to ACCA to be a full-fledged member.
The duration you take to complete everything won’t be reflected in the amount of years of experience needed, but ACCA gives you 10 years to complete everything.
The marks for the fundamental level (Part 2) would be more important as they determine your degree class, ie 1st class, 2nd upper, 2nd lower or 3rd class. Beyond that, the marks are not of any importance but might just reflect your intellectual level to you future employers. =)
hye, i’m a lil bit tense rite now to choose whether to further my studies for ACCA or Degree. i’m a diploma in accountancy student and need to apply this before 23rd february 2010. i’m running out of time. i’m so afraid that i cannot pass the exam.can u tell me what are the subjects in ACCA?
let say, if i took ACCA, and i didnt seem can adapt it, can i take degree? i mean, im afraid my name will be blacklist or what.
another thing, in a year, how many papers do i have to take and do i have to study on my own or it will be a class like in diploma?
I wouldn’t say ACCA is easy, but I wouldn’t say its totally impossible to pass either. Anyway, considering you’re a diploma holder, I take it as you will still have to go through the F level and the P level of ACCA. (Namely Part 2 and Part 3)
The subjects that you can look forward to will be as follow.
F4 – Corporate Business Law
F5 – Performance Management
F6 – Taxation (MYS)
F7 – Financial Reporting
F8 – Audit & Assurance
F9 – Financial Management
P1 – Corporate Governance
P2 – Corporate Reporting
P3 – Business Analysis
Choose 2 out of 4 optionals:
P4 – Advanced Financial Management
P5 – Advanced Performance Management
P6 – Advanced Taxation (MYS)
P7 – Advanced Audit & Assurance
There will be a degree available after you completed the F level, namely the OBU Degree. Its a BSc in Applied Accounting. Its a safety net for those who can’t complete the P level and had to work. So yes, in a way theres a degree available but the only thing is you would have to 1st complete your F papers.
I don’t think I heard of any blacklist before though, so you can be rest assured on that
The number of papers you can do in a year varies according to individuals. As you might or might not know, ACCA has its examinations every June and December. Two semesters in a year, and depending on your own capabilities, its up to you how many papers you would wanna take. Normally, candidates would take 2-3 papers per semester.
Yes there are classes being conducted for each paper, you CAN self study but in my case that wouldn’t really help me much. You can find more details regarding ACCA classes at various tuition providers, ie. Sunway University College, Inti College, TARC, etc.
So I hope that answers your doubts
I am a diploma holder in financial studies from a polytechnic in Nigeria. I want to enquire if i can register for CAT and how i can go about the registration, if i am qualifies.
Moreso, i am presently doing a part time degree program in one of the universities.
Your reply is needed urgently.
Thank You.
Wofai
Hello there, Wofai!
If you’re already a diploma holder I believe you don’t have to undertake the CAT again as its a qualification equivalent of a diploma as well. Infact, you can proceed onto ACCA Level 1. =)
May I know what part time degree programme you’re doing?
hi! if let say i wanna quit acca (i’m now in part 2) and opt for a degree program..is there any college that have a link from CAT qualification to a degree? or do i still have to start from diploma?
You have to check with the various universities though, but one I know of, the Lancaster programme in Sunway University do accept the CAT qualification.