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Business ACCA V5!, Long live bean counters! :D

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88XAVIERX88
post Dec 17 2009, 09:31 AM

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anyone can explain how the acca prizes work?

does it add value to the cert?

is it possible to get a prize by self studying or must I go for lectures?


i would also like to know, if i were to study at KSA, where can i look for accomodation?


is sunway worth it coz sunway offered me tuition fee waiver based on my A level result for paper F1 to F3? should i go there to study? but then in order to get more tuition fee waivers for other papers, they say that i must get malaysian or world prizes. how do we get it? is it tough?

do we really need to go for lectures for paper F1 to F3? coz i understand that it's mostly theory so a lecturer cannot help much right? it depends on the student to memorize? correct me if i am wrong.


i actually started reading kaplan textbook for F1 till chapter 4 then really no mood dy. reach the leadership theory part. coz no one to push me to study or no one to compare my progress with. haha so suddenly i feel that i should go for college. do you have this problem or feeling?

as you can see, i am the type who prefer to self study, but at the same time i like to have study buddies to talk about our study progress. i never really rely on my lecturers, i only need their notes and past year with answer. haha that was how i did for my A levels. not sure if it is applicable to ACCA. and i have seen the acca syllybus,, it is super duper ultra extremely hard and beyond normal human being capabilities. tongue.gif i mean, how do you people memorize so many things?

BTW, i have no accounting background. my A level is chem, bio n maths.

This post has been edited by 88XAVIERX88: Dec 17 2009, 10:20 AM
88XAVIERX88
post Dec 18 2009, 11:06 AM

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QUOTE(Topace111 @ Dec 18 2009, 12:16 AM)
Self study requires a lot of discipline since there is no monitoring or any kind which is also the beauty of acca I really treasured (coz I am quite lazy).
So under such environment only those that takes self iniative to study will prevail well. Prize winners..... I will say it will be extremely useful if you want to enter large companies or command any extra salary which fresh grads find it hard to do.

Lecturer is there to guide only as there is no law or any rules inside acca that requires you to have a lecturer. So they will redirect your focus on key topics or important area. Acca cannot test 100% of the entire area of syllabus so they will do sampling. However I truly believe what I learned is far more important than marks, the knowledge I gained in my reporting paper is very important to my scope of work.

A lecturer once told me, "the more you memorize the more you don't know".
*
thanks for your insights! and thanks to ThanatosSwiftfire and carlos for your info.

yeah i get what you mean. knowledge is more important than the marks. no point memorizing and dun understand anything.

do they offer prizes for paper F1 to F3? i thought they only offer f4 and above? correct me if i am wrong.


Added on December 18, 2009, 11:08 am
QUOTE(ThanatosSwiftfire @ Dec 17 2009, 07:41 PM)
My past experience I've preferred BPP over Kaplan, and GTG over Kaplan too, but GTG struck me as very 'basic' that there doesn't seem to be much depth in it's text.

@88Xavier88,

as said, prizes are

M'sian prize = highest in malaysia for that paper
World prize = highest in the world for that paper
It's not exclusive to one only though, (there are joint winners in the past)

Scores required
CAT = 99/100 only. I've rarely seen anyone getting prizes for scores less than 99, imo.

ACCA

F1-F3, generally in the 95-100 category
F4-F8, generally in the 90-95s
F9, generally 85++ will get u a prize.
P1-P3, prizes generally in the 80s+, but there are sittings where the scorers are real nutjobs and get around 90s
P4-P7, on average 80s is a prizewinner marks.

Medalists
Every sitting ACCA will award medalists for highest total score

CAT medalists (for papers T5-T10, (5 papers)
Higher score for the 5 papers, on average score is about 430+ (about 90 per paper)

ACCA medalists (highest for papers P1-P7, (5 papers, 3 core, 2 optionals)
Average high score being about 350-400, being an average of about 75 per paper.

=D

Aim high, it's hard but the recognition is different compared to an ordinary ACCA cert, and helps to make up for some 'deficiencies' in ur results (say u failed one paper or so)
*
what papers did you get prizes for? malaysian or world? did you self study or join taught courses?

so medalist for acca is only for P papers? they donot include fundamental n skill paper's marks?

oh, can anyone tell me how to register for acca exam centre? coz if i study on my own, i have to make my own arrangements. where can i get BPP books through postal delivery coz i'm from Labuan, an island next to sabah. kinda hard to get books from here. no proper bookshop here. sad T__T

This post has been edited by 88XAVIERX88: Dec 18 2009, 11:22 AM
88XAVIERX88
post Dec 20 2009, 09:34 AM

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QUOTE(sukun @ Dec 20 2009, 04:14 AM)
anyone heard of Kaplan financial institute?
hows the ACCA course offered over there?
*
i thought kaplan is only offered in singapore?
88XAVIERX88
post Dec 21 2009, 10:11 AM

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sorry guys, newbie question here.

should i study the old syllybus past year papers? is it advisable to do so?

can someone explain how to use the old syllybus past year paper? like what does 1.1 1.2 and 1.3 represents in the new syllybus? is there any comparison list?

if i wan to study for F1 F2 n F3, which past year from the old syllybus should i read through?

another questio0n, is the past year paper provided by the acca official web site complete with proper answers and can i trace back all of it's past year? or do we only get past year papers from lecturers

how far back should i study the past year papers? ie how many years of papers should i attempt?

This post has been edited by 88XAVIERX88: Dec 21 2009, 10:18 AM
88XAVIERX88
post Dec 21 2009, 08:15 PM

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Is LAN subject compulsary at sunway if i study F1 to F3?
88XAVIERX88
post Dec 22 2009, 09:31 PM

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sorry guys. another newbie question. i hope topace, carloseandy or thanatoswift can help me out.

i emailed sunway to enquire about acca course and i send them my spm n A level results. they said that i should consider ICAEW ACA course. they can help send my CV to their affiliated accounting firms. so i will work n study at the same time coz need to be bonded. part of ICAEW requirement ==.

i scored straight A1 for spm and 3 A's for A level. for A level i scored 600/600 for bio, 595/600 for chem n 593/600 for maths.

duno why they offer to A level student but sunway say they had few students from A level doing it also.

so my question is, should i take up the icaew offer considering that i do not have accounting background? n how do i work if i do not know anything about accounting? oh yea, they say i need to go through interviews n i must secure my self a job before i can study for it.



the thing is, i have just submitted my application to study ACCA at sunway today. not sure if they will accept me coz it is so late already. course starts on the 6th of jan n i have only submitted my application today.== hopefully still have place. why sunway? coz i am from sabah, so cannot hop from one college to another.

in the event that i secured a place at sunway for ACCA, should i go for it or should i apply for the ICAEw course? which is more advisable for me to take?



88XAVIERX88
post Dec 22 2009, 11:09 PM

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QUOTE(karhoe @ Dec 22 2009, 10:03 PM)
Sunway is pushing their ICAEW course (maybe because they can charge audit firms more), don't be fooled so easily. Are you prepared for the working world so fast? You would be signing an agreement, where if you fail, they would dismiss you, and you might be stuck without a proper qualification !

I spoke to some partners before, they said ACCA MIGHT grant you exemptions for some paper based on your ICAEW results (say if you drop out halfway), but there isn't any B&W in regards of this.

If you decide to do ICAEW, one of the partners at Folks DFK told me that her daughter only had A Level but she is going to complete her ICAEW soon, so it's doable, but you have to put in alot of perseverance and hardwork, need to have a good balance of work and study (what about play?)
*
thnks for the info. how long did she take to study for it? did she work for her father? was it hard for her?oh yea, did she study accounting during A levels? coz i dun hav accounting knowledge.

i'm 21 dy. kinda old. so if work now oso i dun mind coz i already had fun during A levels. btw, i had a gap year after A level coz i duno what to study. so basically wasting time at home la. haha now have to concentrate on my studies. or work if i decided to take up icaew. cannot waste my life doing nothing. haha



QUOTE(Topace111 @ Dec 22 2009, 10:37 PM)
I had few colleagues taking ICAEW and certain seniors that are about to complete so I can share a bit.
Sunway realised that it will be extremely difficult to maintain their status as leading tuition provider for  acca especially after acca changing its exam trend to "quality based" from "quantity based". So offering ICAEW will be the next step way ahead.

Ok about SPM & A level, its quantity based , your result depends on as much info as you can pump in, basicly means they rarely test your analytical skills or any reasoning ability. For quantity based exam, you can work hard all the way and extreme likely your result will reflect your effort. Hence the old people saying "be hardworking".

Professional exams are more like, = effort + reasoning skill + experience + mind. Being a UK paper, its a more "qualitative based". The Brits being "less hardworking" compared to asians believe more on qualities over quantities hence theexam are set in a way that hardwork is not detrimental to overall evaluation.

When you start working in accounting firm especially Big4, you will start think working = hell which is very true. Then you also need to study while working. Imagine you have 5 projects pending and you also need to study to pass, that kind of stress.

Bond is a very misleading term like scholarship. Yeah all my friends that get one fly blindly to study only realise you need to work with low salary for 5 to 10 years. The issue to default is another issue. Well the bond works in similar way but in much harsher environment.

Put it simply, the ICAEW bound firm will be extremely glad to bond you why ?
- get cheap skilled labour for long term (a lot of staff will leave the firm mainly due to low pay, harsh work environment, bad boss,.......)
- when all the seniors left you are there to slogged their work.

That is why top firms like PwC and EY didn't really encourage their staff to take. When I viewed my opinion to my seniors, they all laughed at me. Not enough suffer is it ?

Do you realised if you have completed all acca exams, you only need to take 4 to 5 ICAEW paper instead of the normal 15 papers ?

Anyway ICAEW is the MOST Prestigious paper around, but after much sacrifice especially in terms of time & money spent, its quite debateable THATS ASSUMING YOU NEVER FAILED. If you failed some papers, you need to explain to your superior why you did, and get lots of  vmad.gif  vmad.gif  vmad.gif  from the head, then your seniors will get mad.gif  mad.gif  that you need to study when they assigned things for you to do. hey all of these are first hands on experience.

Contrary to popular belief acca difficulty is almost the same with ICAEW, just that you MUST study ICAEW and work simultaneously making it a lot harder to manage.
*
thanks for sharing. it really is shocking to hear that i'll just be their cheap labour ==. scared la now. haha


so i should just stick with acca? should i attempt more papers per sitting n score average marks or should i take 3 or less per sitting n try to score well? does our ACCA marks affect job prospect?

sunway did ask me what are my job preferences if i were to study for ICAEW. they didnt say that i must work with auditing firms. they even ask me if i prefer to work with multinasional companies. what do i work as at multinational companies?

apart from auditing, what can fresh acca graduate work as? or are we suppose to go straight into auditing?
88XAVIERX88
post Dec 23 2009, 10:01 AM

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QUOTE(ThanatosSwiftfire @ Dec 22 2009, 11:39 PM)
What you know about accounting is hearsay, and I think from knowing so little (coming from a-lvls, i doubt u actually seen what acca/icaew's scope or how difficult it really is), to suddenly committing to work AND study at the same time, is a HUGE HUGE HUGE leap.

I would say no. I'd prefer you studied ACCA first, or like many others get a degree in accounting (at least the room to move and experiment with different courses), then only start work. To me it feels like you're marrying someone, just because everyone else told you that girl is good/pretty etc. At least studying the courses would give u a greater understanding, and much more extensive feedback from those who have been through audit life. (consider it like dating the girl, instead like about, straight away marry... sleep.gif)

Though if u need the money, and are out of options AND time, yeah, I guess you can work AND study.... and generally suffer. (on the bright side, it should be a fantastic character-building experience.. these 5 years of misery)
*
i've just discussed this with my mom. she told me to try the ICAEW course. i told her that it is going to be super hard to juggle between work n study.

guess what she said. be a man, man up to the challenge. ==" zzz

will there be any difference in terms of sallary if i choose one qualification over the other? if the difference are minuate, i'd rather study ACCA coz i dun have to work first. biggrin.gif

and i like your idea of experimenting with courses. that's the reason why i did not go n study straight after A levels coz i dun wanna study just for the sake of studying. eventhough i wasted 8 months not doing anything.

i wanna try out diff things first. haha coz seriously, even now,i still duno what i really want and the only way to find out is to do it lo.

i was attracted to ACCA because it offers me a whole new set of knowledge coz i was from a science stream education.


i dun mind working, i'm just scared that i cannot cope with the stress n studies during ICAEW that i'll quit half way.




QUOTE(karhoe @ Dec 23 2009, 12:44 AM)
If you plan to study full time, 3 papers per sitting will be just nice, and a little stressful, 4 papers per sitting means totally no life, no weekends, and at the most, you save 6 months only - provided you pass.

Well whether does ACCA marks affect job prospects, imagine this. Employer A is presented with 2 CV, one with 50+ marks and another with world prize kind of marks, which do you think would get a better chance for interview?

ACCA grads can also move into banks, but it's usually advisable to go into auditing firms, though they pay you nuts and make you work like hell, because it's for the experience, many would leave after they get their min 3 years of practical experience and join the corporate world, where they could enjoy 9-5 work instead of 9-12(am).
*
but is the hardwork of aiming for super high marks worth it in terms of pay scale? will the employer pay more if your marks are higher?

i read in previous posts that qualification is not the only factor that determines your ability to climb the corporate ladder. then what do they look for? how can someone make himself get promoted faster compared to the others?more qualification or the ability to kiss your boss ass laugh.gif JK JK. but i really wanna know from people who are working now.

thanks all for replying.


@to sukun, i only send my application to sunway for ACCA. but not sure can get a place or not coz it is very late dy. maybe they wont even process my application.
what you mean same case? from sabah or sunway also offer you ICAEW?

one more thing. i read that tony fernander became financial controler for virgin media after he graduated from uni with accoungitng n finance. can an ACCA graduate do it? what does one do in financial controling department?control the whole monetary transactions of the company?

This post has been edited by 88XAVIERX88: Dec 23 2009, 10:22 AM
88XAVIERX88
post Dec 23 2009, 12:22 PM

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QUOTE(sukun @ Dec 23 2009, 10:23 AM)
what i mean, same case with u is that im 21 wasted like 1-2 years "do nothing". well, cant say i do nothing since i studied form 6 for 2-3 months then move to study diploma then quit it after 1 year of studying it then end up in alvl and finish it. right now i'm heading to uk to study acca. just hope visa application goes smoothly.

don worry xavierx. those sunway college are no different, just another "corporation" aim to make money only. they still will process ur application. got money jiu can de...

btw. how u know i'm from sabah?
*
hey my case is exactly the same as u. i hop around from one course to another coz duno what to study. before my A level, i did have a short stint with engineering. i did pharmacy but after 1 sem studying it, felt that it was against my principal to go on studying. coz what u study in pharmacy course is not to cure patients but to help make pharmaceutical company become richer. once ur studying there and talk to the lecturers, u'll feel disgusted. and it is just unethical. it's like i'll be an agent for the rich to rob from the poor or sick. haha


sabah was just a guess. so what subjects u took for A level? where r u going to study ACCA in UK? y not study at singapore?

i wanted to go there but kinda exspensive and i missed the application deadline for singapore.

so ur 1988 too?cool!

This post has been edited by 88XAVIERX88: Dec 23 2009, 06:03 PM
88XAVIERX88
post Dec 23 2009, 08:22 PM

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QUOTE(Pooh-Bear @ Dec 23 2009, 06:24 PM)

Added on December 23, 2009, 6:38 pm
I suggest you could talk to Pat or Wei Yuen from ICAEW. They could give you a better idea of what to expect, and answer many of your queries.
ICAEW Contact
But beware, as they're promoting ICAEW...I had this experience seeing them describe ACCA as something "common, many people have" and describing it as an "easy" exam. Not really fair to say that. ACCA is no easy exam for sure, I think they went a little bit too far in trying to promote.
Just be careful to filter whatever you hear from different people, as each person has their own agenda.

However it is true that ICAEW is a really prestigious qualification. I had a chat with one of my lecturers regarding it (he is an ICAEW member). The reason that ICAEW was seen as so tough is that back in those days, you couldn't take the exams in Malaysia, i.e. you had to do it in England. Furthermore, they had to take like, 6 papers in a row per sitting (you can't take like, only 3 papers at a go like you can now). Btw, I remember someone mentioning that there is no variant for ICAEW, meaning you have to do UK Tax & Law (whereas for ACCA you have a choice).

If you want to go for ICAEW, you have to secure employment not just with any company, but one of the authorized companies. This is the list: ICAEW Authorized Training Organizations

You get about 1-2 months paid study leave for ICAEW (depending on which company you work for).
*
thanks for the info. it's really helpful.

yea, i try to gather as many information as possible from people. so far it does not seem like a good choice coz alot claim that it is going to be very tough and risky. coz if i fail, i cannot quit coz bonded. so now still asking around for more opinion.

hopefully someone studying ICAEW right after A level can help out.haha


ICAEW used to be prestigious but some claimed that ACCA is just as tough and prestigious. coz now, ICAEW seems to be following what ACCA is doing to promote their qualification by relaxing their entry requirement.


so still not sure.

the main problem is,will i be able to secure a job with my A level results? coz even if i want to study ICAEW, it is still not confirmed that i can get it coz i have to secure a job first.

will the interviews be hard? what should i expect from the interview?

below are the list of ICAEW aproved employer that sunway gave me, which should i try to go for if i were to study for ICAEW?

Abu Bakar Rajudin & Co
Maybank Investment Bank Berhad
BDO Binder

Boustead Holdings Berhad
Beh L H & Co
Peter Chong & Co
CIMB Group Sdn Bhd
Crest Builder Holdings Berhad
Deloitte
ECM Libra Avenue
Ernst & Young
Folks DFK & Co
HL Hong & Co
GHL Systems Bhd
Genting Malaysia Berhad
Hong Leong Group
KPMG
Peter I M Chieng & Co
Lee Teck Leong & Co
MustaphaRaj
MAA Assurance
PETRONAS
PricewaterhouseCoopers
Shamsir Jasani Grant Thornton
Tenaga Nasional Berhad
Suruhanjaya Sekuriti
UHY Diong
Sunway Group


like i said previously, i'm keeping my options open.

coz acca is just as good or some claimed to be better than ICAEW.

i still wanna weigh the pros n cons of both of them before choosing.

hope some of you here can help me with this.

i need more opinions.

thanks

This post has been edited by 88XAVIERX88: Dec 23 2009, 08:26 PM
88XAVIERX88
post Dec 24 2009, 05:44 PM

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QUOTE(ThanatosSwiftfire @ Dec 24 2009, 10:25 AM)
On the note of 'prestige', yes, people out there (the general public) regard ACCA higher than degree.

But for my firm (at least), they prefer degree grads over acca?
Why?

The bond period of 4 years makes retaining degree graduates up to senior level (where the shortages generally occur) easier, whereas ACCA grads are flexible and can leave whenever they so please. (it's just a matter of 'retention', as one of the actions taken to address the horrible turnover in audit)

Therefore, from a firm point of view, they prefer degree students imo, and that's why I find my firm takes in more degree than ACCA, even if there are alot of applications from ACCA affiliates. (I implied this from my observation, might have other reasons though)

@fastandfurious = Me too. I did CAT+ACCA in 2 1/2 years and regretted it lol.

General public oso regard ICAEW > ACCA, actually. ACCA is far too common already sleep.gif But in terms of publisity and awareness by the general non-accounting public, ACCA > ICAEW
*
thanks for the info.

wow! cat + acca in 2 1/2 years. cat need one year. so f4 to finish in 1 1/2 year. how many papers you took per sitting? 4?


This post has been edited by 88XAVIERX88: Dec 24 2009, 05:44 PM
88XAVIERX88
post Jan 15 2010, 08:04 PM

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hi guys,

Just wanna post about my experience studying ACCA in one of the most exspensive college in Malaysia. Notice that I did not say "the most exspensive" but "one of the most". this is because the latter statement is ambiguous in its nature and I do not pin point which college. LOLOLOLOL tongue.gif tongue.gif tongue.gif

Why don't I mention the name of the college, coz it's written in the RULES AND REGULATION HANDBOOK. whistling.gif

students are not allowed to defame the college or its lecturers.

technically speaking, I am not refering to any particular institution. so i am not defaming anyone.

Jokes aside, the college really has a good study environment. the library is spacious and filled with really good books. the only problem i have is that they do not have much kaplan books. coz i am new to ACCA and I prefer kaplan. it's simpler.

another good thing is that students here are very hardworking. everywhere u look u can see acca student studying non stop. which is good coz it makes u feel guilty if u slack. so it's a good motivator. now i understand what the seniors always say about the good environment here. u're reminded to score well all the time. but that carries with it the the burden of stress. coz u'll be studying long hours and not enuf sleep. so have to learn how to manage stress.
haha

lecturer wise, I have no comment. let's just say they do not live up to my expectation considering the hefty price they charge.

one lecturer just read directly from the text book. and the text book is NOT GTG. i'm not sure what brand they use coz i went to the library and GTG book is way better than the text book provided to us. correct me if I am wrong about the GTG part but that is what i observed. he spends more time talking stories than teaching. zzzzz instead of wasting 3 hours in the class, i could have covered the same amount of topic in less than an hour using kaplan.

another lecturer follows the textbook word by word. and she is still not so familiar with ACCA coz she always teach beyond what is required by the topic. nothing wrong with that method, just that she spends too much time just to go through 1 small point which I think is insignificant.

but i've got to admit. they have one really good lecturer for F2. simple explaination and he follows what is required by ACCA and not just follow the text book. in fact he rarely uses the textbook. he only used it for formality. he seems knowledgeable about the syllybus and what is required by ACCA.

anyway, that's just my exsperience. I am not defaming the college. i am merely stating my observation. so dun sue me. tongue.gif tongue.gif tongue.gif i very very poor one. no money pay for lawyer.


like what all the seniors here have stated many many times. every college has its pros n cons.

choose what suits you. i wish i could go for the lecturers that i want but i am from sabah, i dun have the luxury of my own car or house in KL.

life's not perfect and we have to just suck it up and go through with it whether we like it o not. LOL

This post has been edited by 88XAVIERX88: Jan 15 2010, 08:05 PM
88XAVIERX88
post Jan 19 2010, 10:56 AM

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I need Kaplan exam kit for F2 n F3. where can I get them?

I dun have frens in ksa or mc orange. n my college library oni have the older version of kaplan text. they dun have the kit.

I need the exam kit to study. sad.

so any ways that I can get kaplan books?

coz for later papers I will also need kaplan books n the library dun have it. so i better learn how to get the books now.
88XAVIERX88
post Jan 20 2010, 03:25 PM

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QUOTE(karhoe @ Jan 20 2010, 12:02 AM)
I know Sunway library update their BPP textbooks, at least once a year.
*
sad thing is i dun use bpp. yet. maybe later on when i have mastered the basics i might use bpp.

but for now i am comfortable with kaplan. T_______T

btw, what is the old syllybus name for F1 F2 n F3? coz i wanna check out their past year. i know it has changed alot, but i would like to just see their questions. coz acca global have the old syllybus past year paper but i duno what the name is for those 3 papers.


sad thing is, i really duno what the lecturer is talking about in class. zzzz waste 6 hours today. cry.gif cry.gif

i was hoping that lecturers can guide or at least help me understand the topics a little bit more compared to study on my own. in the end i still have to depend on books.. cry.gif

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