3 Paths to Pass ACCA Quickly in this Year (2024)
Summary
TLDRIn this video, the presenter, Conrad, an ACCA student, discusses three methods for passing ACCA exams quickly: studying full-time and working later, working for practical experience then studying, and working while studying full-time. Each method has its benefits and drawbacks, such as time management, practical exposure, cost, and social life impact. Conrad shares personal experiences and opinions, recommending the third method as the most effective, despite the challenges of balancing work and study.
Takeaways
- π Studying full-time before working can allow for more subject combinations and quicker exam completion, but requires strong self-discipline and time management.
- πΌ Lack of practical exposure can be a drawback of studying before working, as ACCA is designed to combine theory with practical experience.
- πΈ Studying first can be expensive if self-funded, as working allows for saving money to pay for exams and other costs.
- π The first method may lack balance in life due to intensive studying, potentially affecting social life.
- π Working first and then studying can provide practical knowledge, making it easier to apply concepts learned in ACCA studies.
- π Practical experience gained through work can be claimed as part of ACCA's Professional Experience Requirement (PR).
- πΌ Working before studying might limit career progression due to lack of formal qualification in some corporate environments.
- π° Saving money from work can ease the financial burden of ACCA studies.
- π The desire to maintain earnings from work might reduce motivation to return to full-time studying.
- π€ Working and studying simultaneously offers the benefits of both approaches, with practical experience enhancing understanding of theoretical concepts.
- π This method allows for immediate application of learned knowledge in a real-world context, enhancing learning effectiveness.
- π Balancing work and study can be challenging, often requiring sacrifice in social activities and personal time.
- π Personal development and achieving one's goals are highlighted as important, justifying the effort required for this method.
Q & A
What are the three main methods discussed in the video for passing ACCA quickly?
-The three main methods discussed are studying full-time and then working, working and then studying afterwards, and working and studying full-time simultaneously.
What is the benefit of studying full-time before working, according to the video?
-Studying full-time before working allows you to combine more subjects together, focus on doing them all at once for your exams, and quickly turn around if you fail an exam.
What personal story does the speaker share about studying full-time before working?
-The speaker shares a story about struggling with time management during the transition from high school to university, which led to missing exams and tests.
What are the downsides of studying full-time before working, as mentioned in the video?
-The downsides include lack of practical exposure, potential high costs if paying for exams yourself, and a possible imbalance in life due to the focus on studying.
What does the speaker mean by 'PR objectives' in the context of ACCA?
-PR objectives refer to the practical experience requirements set by ACCA, such as setting up a budget or preparing financial statements, which are part of the qualification process.
What are the benefits of working first and then studying for ACCA, as discussed in the video?
-The benefits include gaining practical knowledge that can be applied to studies, claiming practical experience as part of ACCA requirements, and potentially saving money to pay for studies.
What are the potential drawbacks of working first and then studying for ACCA?
-The drawbacks include difficulty in getting significant raises without the academic qualification, the risk of losing motivation to study after working full-time, and the potential impact on social life.
What is the speaker's opinion on working and studying full-time simultaneously?
-The speaker believes it is one of the best methods as it combines the benefits of both studying and gaining practical experience, making the learning process more effective and efficient.
What challenges does the speaker face while working and studying full-time simultaneously?
-The challenges include maintaining motivation to study after a full day of work and the impact on social life due to the time commitment required for both work and study.
How does the speaker suggest managing the workload of working and studying full-time simultaneously?
-The speaker suggests focusing on personal development and finding the silver lining in the process, such as the opportunity for self-improvement and achieving one's goals.
What additional resources does the speaker offer to help with the challenges of working and studying full-time simultaneously?
-The speaker offers a video with tips on how to manage working 60 hours a week and study, as well as other ACCA content on their channel.
Outlines
π Full-Time Studying for ACCA
The video introduces three methods to pass ACCA quickly. The first method discussed is studying full-time before working. Benefits include the ability to combine multiple subjects for quicker exam completion, though it requires strong time management and self-discipline. The speaker shares a personal anecdote about struggling with time management during the transition from high school to university, which led to missing exams. The approach allows for a quick turnaround in case of failure and the opportunity to study subjects that complement each other, enhancing understanding. However, the downsides are the lack of practical exposure, potential high costs if self-funding, and the impact on social life due to intensive studying.
πΌ Gaining Practical Experience Before Studying
The second method involves working for three years to gain practical experience, which can then be claimed as part of the ACCA's practical experience requirements (PR). This approach has several advantages: it provides a wealth of practical knowledge that can be applied to studies, allows for claiming PR without further work, and can be financially beneficial if one saves money during the working period. However, the speaker points out potential drawbacks, such as limited opportunities for significant raises without the academic qualification, the risk of losing motivation to study after becoming accustomed to earning, and the possibility of being less inclined to study full-time after gaining work experience.
π Balancing Work and Study for ACCA
The third and speaker's recommended method is working and studying simultaneously. This method offers the benefits of being efficient with study time, gaining immediate practical application of theoretical knowledge, and earning money while studying. The speaker provides a personal example of applying management accounting concepts to their work in a school's kitchen department. However, the challenges include maintaining motivation to study after a full day of work and the impact on social life due to the time commitment required for both work and study. The speaker acknowledges these challenges but emphasizes the personal development and progress towards one's dream as the silver lining.
Mindmap
Keywords
π‘ACCA
π‘Strategic Professional Level
π‘Studying Full-Time
π‘Time Management
π‘Practical Experience
π‘Financial Reporting
π‘Self-Discipline
π‘Expenses
π‘Work-Life Balance
π‘Motivation
π‘Personal Development
Highlights
The video shares three main methods to pass ACCA quickly.
Benefits and negatives of each method are explained.
The last method is the most recommended by the speaker.
The speaker, Conrad, is an ACCA student at the Strategic Professional level.
The first method involves studying full-time before working.
Combining subjects for quick exam completion is a benefit of the first method.
Time management is crucial for the first method to avoid missing exams.
Quick turnaround time for retakes is an advantage.
Practical exposure is limited with the first method.
Cost implications of not working while studying full-time.
Lack of balance between study and social life.
The second method suggests gaining practical experience before studying.
Practical knowledge aids in understanding theoretical concepts.
Claiming practical experience for ACCA requirements.
Financial benefits of working before studying.
Challenges of career progression without academic qualifications.
The difficulty of returning to study after gaining work experience.
The third method combines working and studying full-time.
The effectiveness of studying while gaining practical experience.
Instant application of learned knowledge in the workplace.
Balancing study with a full-time job is demanding.
Impact on social life due to the commitment required.
Personal development is emphasized over social activities.
Transcripts
so how do you pass Acca quickly in
today's video I'm going to be sharing
the three main methods that you can use
in order to pass Acca now for each
message I'm going to be explaining the
benefits and the negatives and then also
I'm going to be giving a brief
explanation and then my opinion on it as
well just by the way for those of you
are curious the last method is what I
recommend doing the most for those of
you are new I'm Conrad and I'm an Acca
student at the Strategic professional
level and on this channel I help Acca
students with the tools and tips they
need in order to pass Acca so how this
video is going to be structured is I'm
going to be going through the first
method which is studying and then
working the second method which is
working and then studying afterwards and
then the third method which I'm
currently busy doing and that is working
and studying full-time so without
further Ado let us dive in okay so the
first option that you actually have is
studying full- time and then working
after that okay okay so there are three
main benefits to doing it this way
around the first one being is that you
can combine a lot more subjects together
and then focus on doing them all your
exams like really quickly I have to
share a personal story for you guys to
also get the back end of this the caveat
aspect of this and that is that when I
was moving from high school to
University when I still went to
University a few years ago I had the
problem of managing my time and I
actually missed a few exams and tests
because of this now this is rooted in
the fact that I struggled with my time
management and you'll need a lot more
self discipline in order to be able to
plan your exams and actually ride them
because remember it's like your mom and
dad they're not going to be standing
there and like hitting you with a rod
every time you don't do an exam it's
going to be up to you now the second
benefit of this is is a quick turnar
around time so you can choose to do like
four or five exams at one time and and
then if you maybe fail an exam you can
decide okay L listen let me do it in the
next month so it's really quick and you
get to experience failure more quickly
so then it doesn't hit you as hard when
you fail a subject so that's quite a
benefit and lastly you can combine and
focus on more subjects cuz some of these
subjects work well together like for
example auditing and financial reporting
they work well together and some of them
have certain links between each other so
it gives you a lot more understanding in
depth when you're studying two or three
different subjects that are in a way
combined because remember this is this
whole thing is actually combined to make
you a complete professional in
accounting a complete Finance expert you
know so they combine a lot of subjects
and you'll see when you study these
subjects that they have a lot of
linkages to one another now I know this
sounds like a pretty convincing route to
take like we all have been there but
there are actually three negatives that
I want to let you guys in on with this
so the first one being you don't really
get enough practical exposure now what I
mean by this is that remember Acca is
designed in a way that it combines the
Practical experience with the stuff that
you're learning so with the Practical
experience each of them have like
certain PR objectives for example you'll
have to set up a budget or you'll have
to prepare the financial statements or
prepare monthly Financial reports like
when I was adversity if you ask me to
compile management report or an ad hoc
report about something I would have just
looked at you and thought like what is
this person saying you but cucko crazy
up there boss moving to the second point
is it can be a bit expensive especially
if you're paying for yourself cuz the
benefit you have when you're working is
that you can save up money to pay for
your exams and while Acca is not one of
the most expensive things that you could
do with regards to a degree or
qualification it is quite expensive
still and you should still remember that
you know it costs quite a bit to
register for the exams and all of the
extra other costs and the last point
being you won't have as much balance as
you would probably like because you'll
be studying so much you won't be able to
go out to parties and all of those nice
things if you are serious about this
like listen the goal of this whole thing
is to say how fast can we pass Acca so
just keep that in mind but I mean if
you're an introvert like me this isn't
really a problem so it's also I think a
benefit in a way right now looking at
the bigger picture of things we can
maybe do the exact opposite of this
right we can first do our practical
experience and then we can study
afterwards and that is point number two
the second route that you could take and
like this I'm going to be breaking it
down into the benefits and the negative
so what this entails is you can go and
work for someone for 3 years and do your
practical experience and then through
doing this you can claim from Acca and
claim your practical experience
requirements without having to work
further and then afterwards you can then
go and do the 13 papers and study full-
time so there are essentially three
benefits to this the first one being is
that you'll have a lot of practical
knowledge because you've been doing all
of this practical work so it'll be
easier for you to apply certain Concepts
that you're learning into your studies
for example in management accounting
when they start talking about budgeting
and the different types of budgets then
you can at least have an idea oh I
remember back in my second year of
working I remember I set up a budget
with Jill and we did XYZ so it's like
you you can relate and and match those
different topics so it makes it a bit
easier for you to be able to study and
understand the workload okay so the
second benefit being is you can claim
this practical experience as PR and that
essentially means that you can claim
this when you're doing your Acca as work
that you've already done it just has to
be relevant in in the Finance and
Accounting field the last benefit if you
are smart and you don't waste all your
money on like Tech products or desk
setup just a hint go and watch my Des
setup video that I made a bit earlier so
if you save up you'll be able to
essentially pay for your studies much
easier and you won't have to stress too
much about the finance aspects of things
now I think the negatives are a bit more
concerning for me with regards to this
uh aspect or approach and the first
negative being that you won't really be
able to get significant raises in your
company because technically you are not
experienced you don't have the academic
qualification to justify your position
so it'll be difficult for you to maybe
progress in the institution that you're
at especially if it's a really corporate
institution it's say like a PWC or one
of those type of jobs but I think in
smaller audit firms and in smaller
businesses where they It Isn't So rigid
that might actually be to your benefit
because you might like I I am learn
different aspects of the business do a
bit of collections do a bit of um the
invoicing do a bit of this it might give
you more of a depth of knowledge but I
think that could maybe limit you
depending on the career path that you
are wanting to go in and you know what
like a second thing that I think you
should be cautious of is that when you
start working full-time the money bug
bites you a bit and you don't really
want to go and study again and I know
this only applies to like a certain
amount of people but you know thought
comprehensively let me cover all of
these aspects and it is certainly a
thing that would bother me like you know
while I'm working and making money
Having side businesses I feel a bit less
motivated to do my studies I don't know
it's just something you have to think
about so the last option is well in my
viewpoint I think it's one of the best
and that is working and studying at the
same time now for those of you who don't
know I am busy doing this for the last 2
years I've been working and studying
continuously now inherently it obviously
comes with some challenges I mean that's
what I'm going to share with you now but
firstly I think there's like a lot of
benefits to it now the first one being
is that you can be more effective and
efficient with your studying meaning
that when you study and you are busy
doing your practical experience is like
the best of both worlds of the previous
two and like to me it just makes the
most sense the second one is when you
are busy studying you start looking at
certain aspects of the business and
seeing relatability in the content that
you're learning at the time a good
example of this is when I was doing
management accounting I started doing
the costing of our kitchen Department
within our schools now I work for a
school in bana and essentially we
provide meals to students so I then went
and actually checked okay listen let's
see what our throughput is let's see
what our variable costs are let's see
all of these different factors and let's
see see if we're actually making a
profit at the end of the month because
that's essentially what the board had
asked me to do so it's very cool to be
able to study something and then be able
to apply the knowledge instantly so that
is a real benefit that I would see with
this and I feel that while you're doing
all of this you're at least making a bit
of money now this doesn't come with any
drawbacks right the main negatives I
would say here is that first of all
you'll struggle a lot with motivation to
study after hours because I mean the
whole day you working I wake up at 6 in
the morning and then I come back at
night at 6:00 and that is like a full 12
hour day and then I still need to study
guys like then you still need to study 2
or 3 hours so it is difficult to keep
motivated in those times and if you're
looking for like certain tips about it I
made a video which I'm going to link at
the end of this video now that brings us
nicely to the last negative and I don't
want to end this video on this way but
another negative is it's for sure going
to influence your social life you might
not have have as many friends after this
because of the time you're going to have
to spend behind the desk studying
working progressing yourself but there's
always a silver lining in everything and
the silver lining in this is that at
least you're doing personal development
I mean you've got a dream for yourself
and I think no one should take that away
from you and be selfish so in this time
that we have let us focus on studying
harder and bittering ourselves and
developing ourselves so if you'd like to
know how I'm able to work 60 hours a
week which is like literally 12 hours
during the day I'm away and then at
night I'm starting 3 hours if you'd like
to know how I'm able to do that I
actually made a video to help you with
that and I've got a lot more Acca
content on my channel as well if you're
interested but that video is going to be
linked up here and I'm going to see you
in the next video cheers
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