ACCA - The future of assessments is online

ACCA, the largest accounting body in the world, has reached the last leg to bring its examinations pattern online. And why not, primarily major qualifications in accounting like CFA / CPA / CMA / CIMA are all now tested online. An online assessment methodology provides ACCA also to become more flexible and offer solution to its students to engage, learn and have the assessments completed through an online mode.

ACCA UK, with its global presence, brings its first 9 examinations online, and is expected to be doing it for the next level (Profesisonal) examinations as well in the near future. This is important considering the fact that its closest competitor - CIMA UK, had already begun this in 2015, doing a complete shift over to online assessments for all its 16 examinations (earlier 17).

ACCA's step to convert online was expected considering CIMA's move in the same direction, and ACCA's intentions to test students on a quarterly basis, rather than half-yearly. For that matter, to meet the competition, ACCA ideally should be bringing all of its fundamental examinations On-Demand (when a student is ready to give the examination, he or she can do so).

How should the existing and prospective students look at it. My answer would be to take it in a positive manner, and be able to adapt themselves with the flexible options offered by the ACCA. Especially the upcoming markets like India, where ACCA is becoming a serious contender, the students must try to abreast themselves of the developments happening at ACCA and embrace the changes.

How should you be preparing for the examinations, when these are expected to be tested online. The solution lies in the fact that you should test your knowledge online at the time of studying itself. This helps you gear up for the ACCA examination and successfully complete the ACCA qualification.

Good luck with your preparation!

Is it difficult to study along with job?

This blog in particular relates to my friends who are already working in industry and wish to pursue a qualification. Sincerely, be it any field (marketing, IT, finance, accounting, management or others), I take a presumption that every individual is only given 24 hours a day, necessarily spends a lot of time in office, month-end and period-end reporting, review, personal commitments etc. Irrespective of the position, profile or role, an individual seeking a qualification necessarily views it as a step to move ahead in achievement of a career goal, or probably gain insight of areas he or she wants to explore. Believe me, this is the most difficult step.

However, the challenge that I witness after a person has joined a course or program (at least in finance domain for courses like IFRS / CPA / CFA / ACCA / CIMA etc.), I see the spirit losing pace sooner after completing registration. All of a sudden, the classes appear to be a burden, there arises the need to prioritize personal aspects which were taken off when registering for the program initially.

Frankly, I must admit that it is difficult for someone to get back to the books after a gap (anything like 3 years or more). This is more evident at middle and senior levels, where people would land up with many surprise and sudden plans of transition or process changes. This is even more difficult when the program is entirely company sponsored and the fee is paid upfront (rather than reimbursement post completion or passing the examination).

My clear suggestion to anyone planning to pursue any qualification while at a job is that spend a lot of time reading on the content and program details, before you register for any qualification. Plan well in advance of the days you will study for the qualification, and mark your calendar for the specific activity. Better still, try to get a close buddy who is likely to pursue the qualification at your office space itself. This is really required to be done before you register for the qualification and invest your hard-earned money and efforts into the qualification.

Therefore, when the question arises as to whether is it difficult to study along with job - in some manner - Yes, since you are any case required to do your job as well along with the studies. So, you will have to sacrifice a lot of something else to be able to pursue an add on qualification. However, I also have a another view on the same question - that is, if you are working in a role, and the qualification relates to the role itself, your practical experience and knowledge is going to pay rich dividends in understanding the content and help you apply it in real life situations.

So, keep investing in yourself and be well prepared to study before you say that you are ready to take up another qualification!

Good Luck!!

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