Hardwork & dedication will do.
1) Practice past year qs at least 3 times
2) Memorise key sections of law.

I think the pass rate will keep on dropping as the 1st or 2nd papers normally serve as introductory to familiarise students to the exam style & format.
Once that period lapses the examiner will have every pleasure to twist & turn the paper around to make it harder.

However on the plus side, with more exam papers to boot, student will have more oppurnities to familiarise with the paper itself.
I can see a trend in the optional proffesinal papers where the examiners try to maintain the pass rate at 30%
The core proffesional papers have an average 45% to 50% but i expect it will eventually drop to 40%.

Students that was happily hoping papers like financial reporting & audit will eventually becoming easy to pass was devastated here.
Since i have just sat that 2 papers myself, i have notice a very clever tactic used by the examiner to trick the students.
ACCA students have a "knack" to memorise the format & style of exam paper over the years, then they make their own assumption to handle it.
However, this time the examiner mischievously scrambe the order this time around.

F7 : after so many consecutive sitting, they change Qs2 into redrafting the FS & prepare SCE while giving some weird transactions.
Students without proper technic, skills or planning will get a shock & normally spend the rest of the time doing & redoing the QS.
Apart from that QS, Q1 & Q3 was pretty easy enough to score while Q4 & Q5 touching on the surface of standards.

F8 : Every one starting to love Alan Lewin gets the "bombshell" this time. As everyone thought SP qs will be asked they memorise & practice tons of
SP qs & (will spend the 15 minute planning time to draft the 1st question : normally SP). However it turn out to be TOC.
Most student whom cannot adjust & adapt will spend 15 minutes staring at the qs wondering what to do now (they will normally go
from ) to this ( ).
Next, is the issue of going concern which they already ask 2 times consecutive, many lecturers including students predict it will never come out
& come out it did .

My suggestion is that never trust your lecturer's view or prediction 100% but you can take their advice & guidance. Good lecturers like their students
to constructively debate the lecturer's view to build student's own mental skill. However, this rarely happen especially when there is a lot of students around.

F7 still can "bluff" your way since its still 75% calculation but don't try it at P2 (I haven't met a single person dare to utter this word at P2).
P1 & P3 you can still "bluff" but requires a reasonable level of mastery in english to get through.

Since the "mentality" of F5 has been addressed i will try to point out what the examiner said :
1. The ratio of calculative : theory = 55% : 45%
2. The examiner views "evidence of some poor time management" among students :
- using slow method to handle linear programming
- write too much for little marks
3. Problem = "The question that was missed out most often (if one was) was question 3. This is the “performance management” question and the
core of the paper."

Solution = "This is a core topic. It is what separates F2 from F5. In F2 candidates have to perform calculations – and that’s it. No interpretation at all. In F5 some calculation will be required but (and crucially) some interpretation will be expected. This can not be avoided."

4) "Poor layout is not acceptable; (including excessive crossing out, unlabelled workings, no tabulation, “essay” style answers for numerical calculations are all typical problems). "

Although not mandatory but understanding examiner's style & preferred technics is necessary to (at least pass) handle the paper.

I have some enquiries here :
1) Will employer asked about ACCA results in detail, means beyond passing only ? (ie : have you failed any paper b4 or not, any high marks)
2) Will they tolerate students whom had failed before ?
3) Assuming you did get high marks is it bcos of > 2nd sitting on same paper ?

Are there many of this kind of prospective empoyer in Malaysia ?
Which student is considered inferior : the one who had never failed or the one with higher aggregate mark ?
What kind of questions do firms like Big4 asked when they interviewed fresh graduates ?

Everyone is an accountant can be many derivations :
1) Fresh accountant with diploma, LCCI or CAT
2) Fresh accountant with degree
3) Fresh accountant with ACCA, CIMA or CPA
4) Chartered / certified accountant with relevant 3 years experience qualified under MIA
5) Accountants with more than 6 / 7 years experience with degree / qualifications
6) Accountants / auditors who has worked under PLC or Big 4 firms.

Furthermore very few accountants wish to remain in the same post forever & the competent few would eventually rise above the hierarchy chain.
They normally won't be called as accountant anymore = directors, managers, chief accountant, key executives....etc.
For 1, 2 & 3 the supply is more than the demand
For 4 it is the standard requirement in Malaysia
5 & 6 are in very high demand but also dependant on the age of applicant & remuneration demand.

The degree or qualification will just serve as an "entry" level for the occupation only. To progress it requires something more :
= people skills (EQ), capability & efficiency, know how to "sweet talk" your boss, networking ....etc.
As what Sun tzu had said, all warfares was based on deception (that also applies to working life & business)

Past year question = to help on memorisation
Lecturer notes = better understanding
text book = a little of both

Have you tried attending Haneef's lecture or read his notes b4 ?
He is considered the best lecturer around to teach students regarding standards. (very very detailed)
I known some people attend his F7 class just to strengthen their foundation for P2 even when they pass their F7 (very weird lo )
Standards are something that you must understand & memorisation don't account for much use especially for Graham Poll, students who feel comfortable under Steve Scott (F7) will find things very different under P2.
P2 now focuses more on standards rather than the calculation alone like all other professional papers should
If you are those people who likes to reason it out, you are in for a treat in P2

Calculation is important in P2 but the reasoning behind the treatment is greater still.

Snap my mistake so many examnier names, no offence to anyone here

[quote=TvLover,Aug 31 2008, 11:26 PM]
Haneef from McO ?? Is it too late if i attend his class now ? It's Sept already. When is his revision classes ?
I attend Ms menon classes in Sunway. She is good... but i think it's my prob... I just can't write in words. Maybe i should try another study method ??!! :stars:

Oh its not that late bcos his 2nd term class has not started yet, it starts on 9th of september with 2 class per week.
He has mentioned that he will start to lecture on all the key IAS & IFRS on 2nd term (Ist term on consol & cashflow)
His class will be alot of discussions & understanding rather than doing past year alone.

Technically i will recommend him to everyone but his lecture fees is quite expensive (Rm600++) for 2nd term.
However since you can afford sunway, why not try him.
Initially i reluctant to join his lecture bcos all my friends choose somewhere else but my seniors keeps on nagging that I won't regret joining him.
As a result I scored 80++ in my F7 & currently following his P2.

I will try to breakdown the advice based on your question above :
1) Why you choose Degree initially :
Most people have this common perception that if you follow science stream you will be left out / unable to follow up at ACCA fundamentals.
This maybe partly true since Principles in a/c (will teach you drafting Financial statements) & economic will teach you a bit about (tax).
However it does not really help much in the long run as SPM subjects can hardly cover much in ACCA. Notice this major difference :

SPM / STPM is malaysian exam papers. Degree is based on where you take (universities, college, overseas.....etc). ACCA is UK paper but
became standardised (more global friendly)

So arts student will benefit (in terms of understanding the basics terms) but remember that ACCA was in english while Malaysian papers was in
malay so initially students need few weeks of orientation adjustment (ie : penghutang = debtors, ambilan = drawings,...etc)
Your school knowledge of accountacy was very basic / surface level so it won't cover much (you don't cover costing, tax, finance, maybe audit)
Moreover, ACCA is not much about calculation in advanced stages (LCCI & diploma can cover calculation), its more about :

how you derived the figures, why you choose that method of calculation, the effect of not using prescribed method....etc.

2) Misconception of exemption
Now be very careful of the terms used here, ACCA says a degree can"EXEMPT" you from some of its paper, BUT whether you actually excel
or grasp meaningful knowledge in it is a "totally different story altogether". They create an illusion for you that you actually pass the paper
without actually sitting for it. Technically & judging from students feedback, although you may be exmepted from all fundamental papers most notable F4 to F9. Most of those exempted will find things very difficult in proffesional papers bcos lack the understanding in the fundamental papers.
Most will fail & fail again in proffesional papers & finally resulting going back taking fundamenatal papers although you are exempted.

For those who pass all F papers they (majority) will easily get a degree paper (since they cover wider syllabus & depth) but they mack lack the project skills. (in couple of months only needed).
For Degree, the most exemption is the all fundamental papers, but never think you actually pass them (so you may fail as well).
Example like your PTS you jump to standard 5, can you guarentee me you will score for standard 4 (that you have exempted).

3) External vs internal based
Internal is what your respective college / university standards set for your papers. If you are a premier university you will better recognised.
If you are world-class like the ivy leaguers in US (Harvard, Stanford, Yale) you will recognised worldwide.
The theory is that does a german company recognised a degree you gain in malaysia ? you will say they may but low probability compared to those who takes their degree at europe. So your degree is more depending on where you actually took it in malaysia (UM, UKM, Taylor, TAR, Sunway..etc)

External means you can take it from any part of the world whether its somalia, peru, tibet or hawaii you will sit for the same papers regardless which geographical location you are. This simply means if you pass the paper you will be recognised worldwide.
You can take at Bhutan but earns equal recognition from fellow member in UK (even receiving different education)
So you can cut reliance on university (who may eats up a lot of you capital) to get their university mark stamp on your resume.
Employers don't care where you take your ACCA but did you actually get it (some may ask your mark too for higher post).

Example degree is your school spm trial exam while ACCA is real SPM exam. Trial result & difficulty depending on your school status (asrama penuh,
sekolah sains, premier school, private school, sekolah kawalan...etc). Does everyone recognise your trial result compared to real SPM ? i don't think so.

4) Recognition status :
Initially i was awarded scholarship at a university for (accountancy & finance), foundation here & 3 years in Uk. I rejected it after realising the cost involved (food & accomodation, living expenses, study materials....etc) Besides no scholarship comes free tou know (you must pay back indirectly by
working, publicity,....etc). If you are not from a wealthy background, degree is very burdening especially for your parents

ACCA meanwhile has a rough equation like this, it cost mearly a fraction from degree course but recognised even higher status than it.
If i described it into a product it will come like : half price but better quality (compare honda cars with proton without excise duty)
I have plenty of cousins taking degree at local & foreign & my ACCA cost always rank 40% lower than any of their degree.
Besides there's an OBU (a degree in Uk) will be availlable for you (you will get > 90% exemption) with cost around few thousands in space of few months if not weeks.

5) Why so few know about this ?
It bocs ACCA lack exposure in Malaysia (among students & non finance related field). Go Uk & ask ACCA everyone will know. In Malaysia maybe only 1% of population. Most who felt ACCA is difficult so they pursue degree first & do ACCA later (but technically this is unsound strategy)
Don't worry i have tired explaining to everyone what is ACCA, tell them this "wait until i work fist & then look at my remuneration & then start to comment"

6) How & Where to start ?
Preferably at CAT since you will grasp a deeper knowledge in ACCA fundamentals (there are some killing papers like performace management & audit). CAT is like diploma & lcci but slightly easier & lower recognition, There are 3 reputable centre in KL whic you refer to this blog at begining.

I hope this clarify your matter

Ha ha i i think majority of those here feel the same way, i just highlight what the silent majority views.
Don't worry my maternal side all either engineer / teaching proffesions while my paternal side all do biz.
Its normall like these :
1) Where do you study ?
How to explain 3 different centre, you tell me lo !!!

2) What the hell is ACCA ?
I really fed up explaining like (explaining what auditor does = its to issue opinion .... but just say check then baru they understand )
To those who purposely want to "belittle" you : if you don't know check wikipedia or better still bring all those accounting jargons : impairment test,
prudence concept, test of control )

3) What do you work as ?
Just refer to "airasia CEO" enough said .
Those who insist further, say this : any job which requires money application ($) = practically everything.

4) If they think ACCA is not prestigious enough ?
My senior has this very funny approach :
21 graduate becomes auditor, 24 experience becomes accountant, 28 competent becomes manager, 32 callibre becomes director, 36 if lucky becomes CEO by 40 become millionnaire.
Don't think is the the actual situation, just joke to those who don't know they will go from to (jealous) or (sceptical)
When they start to argue or counter (they will surely survey around or research) you already achieve your goal

In Asia (majority) students have a very aggressive stance in approaching ACCA. They will make use of the maximum requirements.
As ACCA gives 2 times entry to sit for exam per year July & December with maximum 4 papers.
So Asian students will take 4 paper per exam entry (8 paper per year)
They want to quickly pass it & then join the workforce (economic factor probably)
Imagine mega sales in Malaysia supermarket you will get the picture (hustling & bustling to get good priced items)
In terms of scoring Asian students will definitely score, in terms of hardwork they excel & in terms of effciency they are role models.

This is very contrast to UK students taking ACCA, you will probably hear they study with a very relaxing mood & even truancy will also make them pass. This is bcos most of them takes 1 exam every year with 4 papers in that entry. Therefore graduates from europe normally aged > 25 years compared to Asian which are slighlty lower. In terms of "form" they definitely lose out but in terms of "substance" they prevail.
They like to explore, intuitive & always dwell upon new knowledge compared to Asian students.
If you go to europe universities asian students will definitely score high marks, but later when you join the work force you will start to realise your
high marks will not be the true indicator of your achievements.

If you check websites survey conducted by reputable companies globally, most decision makers position are made up of westerners while
brilliant asians (example Microsoft hired a lot of Indian engineers) will support them. Even In Malaysia local companies do hire westerners for
key executive position. As a saying goes Asian works with their hands while Westerners works with their mind.

In england there are 3 most prestigious & recognised proffesional qualification : ICAEW, CIMA & ACCA.
ICAEW : you need degree as prerequisite, 2 ICAEW members recommendation, cannot study fulltime must study part time while working.
Show this to any employer in Malaysia (especially reputable companies) you will be hired on the spot (i am not bragging there).

CIMA : its more management accounting (mostly for manufacturing firms), it is deemed harder than ACCA since most ACCA terminologies
derived from CIMA. However most company still prefer ACCA "at the moment".

Taking degree first is never an issue if (you don't mind time & cost factor). Perhaps you can gain more knowledge & application skills compared
to those who don't experience this. Perhaps i should say this, ACCA life is very boring (if you always fail) & hard to make "permanent" friends.
ACCA separated into 2 terms : 1st term for those who can't wait until the result & continue regardless of their result in exam (1.5 month)
2nd term is when results are received, then you study for around 2.5 months + 0.5 months for revision then exam. Then another paper to go.

When you make friends at 1st term thinking they will continue realise in 2nd term that (you cannot make it bcos fail) or (they cannot make it bcos they fail). Then make new friends in 2nd term which you totally ignored at the 1st. That always happen to me although i have not fail any papers yet. But it is very different here where you choose papers based on lecturers not college.

You choose the best lecturer for each subject you took (remember you must be like a "ah soh" or housewive where you only pay for the best money you can get). Like buying shoes (you go for NIKE), buy shirts (jojo armani), watches (rolex)....etc. Most students will have to jump at different colleges per week (i have 3 different lecturer at 3 different college this sitting) One at pasar seni, one at masjid jamek, one at plaza rakyat
Housewives or future housewives no offence here ok (my mother was one too)

DOn't worry if you are good at reasoning skill (which most lecturer cannot teach that's why so many said hard to pass).
Calculation skills & exam techniques there are plenty of lecturers around with different background : mat salleh, ex-CEO, 25 yrs experience...etc.
Actually ACCA was not "that" difficult if you are harworking, do practice past year & did lecturers homework.

F5 is not actually tough but rather bcos of its syllabus.
You cannot teach part way & say its enough then learn the next level at next module.
F5 & P5 is very similar in its syllabus almost 50% overlapping area.

like CAt tax is almost > 80% of F6 taxation.
For the ist timers it can be a bit difficult like (ist time attempting add maths)
Since performance measure has no clear cut area (since all overlaps) you must know the key area to focus on.
Its not like F7 where you know there's consol, ratio, cash flow, single comp a/c.
There are areas which have clear cut calculation = standard costing, ABC, maybe ratio
Some are totally theoretical = balanced scorecard, TQM, ...etc

Just to share with those who have been / going to study at KSA especially under Parmindar (P3)
I have attend one of his combined class again today (full timers + part timers)
What really frustrate me is the lack of space again eventhough i came 20 minutes early (imagine those that came late).
When i arrived at the doorstep all the place was evidently full.
I don't mind if there is a living people sitting on it but met with files, papers, bottles on those seat to "book" for their friends.
I notice an entire row in the middle where there is not a single soul on it but their equipments aboard.
Some even take 2 place for him / herself bcos very "congested".
Then again come the lecturer brilliant / ethical / humane order = Just take the seat for yourself whether they have been booked or not = ist come basis. I was so relieved by his comment since i have been standing idle for quite a while waiting to be seated.
I received a very "disgruntled" & unpolite look by a student who are supposing to book for his / her friend who has been late for more than an hour.

Parmindar was a brilliant & friendly lecturer (that's why so many student) unfortunately it was the centre incapability to cater to a huge mass of students. Imagine boarding rapid Kl at peak hours.
To some students out there also please don't simply book a huge slot of place for your friends, i think everyone deserves to be seated especially to those who came on time. Those who are late let them learn their respective lesson. I have seen some students forced to sit on a chair w/o a table for 6 hours. Think again.

ACCA is more than enough to work as auditor. (anyhow its better than degree)
If you want a bonus advantage to work as an auditor (apply IIA, its a prof body for auditors, exam is mcq but very hard to pass)
ICAEW is the supreme prof qualification in UK.
The pass rate was way lower than ACCA some say its only 10% while the cost spirals 3 times ACCA (I think so).
ICAEW can only be obtained by (sudying while working with the boss as you patron for 3 years) This is their main requirement.
Not everyone can take ICAEW (not mentioning passing it yet).
There are currently no tuition provider for ICAEW in Malaysia yet.

This is normally reserved for those opting for key positions in comp (finance controller, CFO, CEO....etc)

I cannot help but notice students that booked place for their friends who are "purposely late".
I heard some students that are late bcos they went shopping at shopping centres & comes in with slot availabe for them even they are late for > 20 minutes. Try to compare this with student who arrive slightly early / on time but found out all places have either been taken or "booked" again.
Try to understand those who sweat & toil to come from outskirts to have a place but "a single piece of paper" block their entitlement.
The again there are those who really come late (heavy rain, no parking, traffic jam...etc)

Most students who has a knack to book for their friends have low ethical value (by Kohlberg Cognitive Moral development).
These students normally falls in the range of Stage 2 : instrumental & relative where they help their firends to book place but expecting
a future favor in exchange without considering the needs & feeling of the overall class.

They can argue that (Who ask you to come late ?) Is that a proffesional behavior to begin with ?

However there are some lecturers / centres who takes the initiative to ease the problems of "booking culture".

1) Haneef at Mco
I mean he is one if not the most dedicated lecturer around (please notify / suggest one who is better as i would really like to know)
He teach each paper twice per week threrefore no combined class was needed.
Even his revision class was separated into 2 class (fulltimers & part timers apart) He was willing to teach 2 times extra.
Therefore i don't mind the centre charged extra (only him !!!) as every penny was justified

2) Daniel Ho at FTMS
He still conduct his class once per week but if there is any class on weekends / holiday period he will try to separate his class for full timers & part timers (if students ask for it). He don;t mind teach 2 times.

3) Paac college (near KLCC)
If i am not mistaken there have this system of a quota where they limit classroom size to a certain amount. to them profit is not everything as
students comfortableness is one of the priority (to maintain lecturer : student ratio at a healthy level)

I am not against booking during normal class hours BUT PLEASE don't do this during combined classes / peak hours. Thank you to those who gets the message. Please be considerate to those who have no friends to book for themselves / cannot come that early .

Like this lo :
Supply of good lecturers = constant
Demand of ACCA tution providers = ever increasing
Popularity of ACCA = increasing
Centre expansion = only systemathic & FTMS ever increase (substantially).

MASB will be fully compliant to all IFRS at 2012 :
http://www.masb.org.my/index.php?option=co...-2008&Itemid=37
So students at ACCA taking F7 or P2 are advisable to opt for international variant to facilitate & ease transition changes.
It is better to consult with your respective lecturer around.

This post has been edited by Topace111: Sep 11 2008, 06:36 PM