3 Paths to Pass ACCA Quickly in this Year (2024)

Summary

In 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

• 📚 Studying full-time before working can allow for more subject combinations and quicker exam completion, but requires strong self-discipline and time management.
• 💼 Lack of practical exposure can be a drawback of studying before working, as ACCA is designed to combine theory with practical experience.
• 💸 Studying first can be expensive if self-funded, as working allows for saving money to pay for exams and other costs.
• 🎉 The first method may lack balance in life due to intensive studying, potentially affecting social life.
• 🔄 Working first and then studying can provide practical knowledge, making it easier to apply concepts learned in ACCA studies.
• 🏆 Practical experience gained through work can be claimed as part of ACCA's Professional Experience Requirement (PR).
• 💼 Working before studying might limit career progression due to lack of formal qualification in some corporate environments.
• 💰 Saving money from work can ease the financial burden of ACCA studies.
• 📉 The desire to maintain earnings from work might reduce motivation to return to full-time studying.
• 🤝 Working and studying simultaneously offers the benefits of both approaches, with practical experience enhancing understanding of theoretical concepts.
• 🚀 This method allows for immediate application of learned knowledge in a real-world context, enhancing learning effectiveness.
• 🔄 Balancing work and study can be challenging, often requiring sacrifice in social activities and personal time.
• 🌟 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

00:00

📚 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.

05:01

💼 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.

10:02

🔄 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.

Keywords

💡ACCA

ACCA stands for the Association of Chartered Certified Accountants, which is a global professional accounting body offering the ACCA qualification to those aspiring to become professional accountants. In the video, the speaker discusses methods to pass the ACCA exams quickly, making it a central theme of the content.

💡Strategic Professional Level

This term refers to one of the four levels of the ACCA qualification, where students study more advanced topics and develop strategic professional skills. The speaker identifies themselves as an ACCA student at this level, indicating their progress in the qualification.

💡Studying Full-Time

Studying full-time is one of the methods discussed in the video for passing the ACCA exams. It involves dedicating oneself to studying without working, allowing for a focus on multiple subjects and quick completion of exams. The speaker mentions this as the first method with its benefits and drawbacks.

💡Time Management

Time management is a critical skill for ACCA students, especially when studying full-time. The speaker shares a personal story about struggling with time management during their transition from high school to university, which is relevant to the challenges of studying full-time for ACCA.

💡Practical Experience

Practical experience is an essential component of the ACCA qualification, where students apply their learned knowledge in a real-world context. The video discusses the importance of combining practical experience with academic study, emphasizing the value of real-world application.

💡Financial Reporting

Financial reporting is a key subject within the ACCA curriculum, focusing on the preparation and presentation of financial statements. The speaker mentions it as an example of a subject that can be combined with others like auditing for a more in-depth understanding.

💡Self-Discipline

Self-discipline is necessary for ACCA students, particularly when studying full-time without the structure of a school environment. The speaker highlights the need for self-discipline to plan and take exams without external pressure.

💡Expenses

The costs associated with the ACCA qualification, including exam fees and study materials, are discussed as a potential drawback of studying full-time. The speaker points out that while ACCA may not be the most expensive qualification, it still requires a significant financial commitment.

💡Work-Life Balance

Work-life balance is a concept that the speaker addresses in relation to the different methods of studying for ACCA. Studying full-time may limit social activities, while working and studying simultaneously can also impact one's social life due to the time commitment required.

💡Motivation

Motivation is a key factor in the success of ACCA students, especially when working and studying at the same time. The speaker acknowledges the challenge of maintaining motivation to study after a full day of work, which is a common issue for those pursuing the qualification.

💡Personal Development

Personal development is highlighted as a silver lining to the sacrifices made while working and studying for ACCA. The speaker encourages focusing on self-improvement and achieving one's goals, suggesting that personal growth is a valuable outcome of the challenging journey.

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