As I opened my mail in the early hours of 20th Aug I heaved a sigh of relief for my ACCA results were out and luckily, or could you say fortunately, things had worked out favourably. I am sure most got what they expected and experienced the same feeling of ecstasy. There must have been a few who found the results contrary to their positive expectations and were upset with it and I am also sure that these results will motivate them and act as a stepping stone to future success.
Personally I was extremely happy with my results for I had passed all four papers I had written and also turned affiliate thus opening doors for gaining ACCA membership. Besides I had a superficial feeling after writing the core exam on Strategic Financial Management (presently an Option paper (with minor change) – P4 – earlier 3.7) that I would not get through and would have to do P1 – the new addition to the core exams. But thanks to my prayers and my wonderful tutor I passed.
A worldwide pass percentage less than forty percent indicates how tough the paper was and I am certain that at Professional Essential level i.e. core exam level it does take good amount of work supported by experienced tutors, who supplement our learning with tools and methods to manage one’s time and enhance our answers, to clear the exam.
I can see clearly that more than knowledge and technical ability, the focus of such examinations is to test the ability to comprehend and understand situations that may arise as a part of work and provide in-depth advice to one’s employer. ACCA is trying to create professionals who possess sufficient knowledge but more importantly are adept at handling work situations providing the most reliable, relevant and finest suggestions and guidance in financial and strategic issues.
With the syllabus changing I am sure ACCA has tried to supplement its objective of adding value to the qualification and building true professionals. The addition of new papers and deletion of certain papers have been made to cope with the changing needs of the market. However I was particularly worried about the neglect of IT/computers with papers 3.4 and 2.1 being removed, but was happy to note from the student accountant that IT/computers has been built into each of the papers in the syllabus as required, as knowledge of IT/IS is now considered integral for a professional.
Besides, the move to convert Paper 3.7 (P4) into a Professional Option exam may be welcome for many who may find the paper extremely technical and I personally think that it should be an option for those who would like to specialize in FM. I am sure many fellow students are looking forward to learning under the new curriculum and I convey my best wishes to all of you.
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