...is the training really worth it?

Hey there, I'm Maiki Lynch and I'm an accountant. And in this series from ACCA, I'm sitting down with some other accountants and people who work in finance to lift the lid on some of the common myths you might have fallen for about this awesome career path. This week, we are looking at the process of actually getting an accountancy qualification. With so many routes into the profession, many of which we've heard about on the series, it can

Hi, nice to meet you.

And Xhulja Duka, welcome.

Nice to meet you.

Ravi, I'm going to come to you first and ask, how's the studying going?

It's very stressful, to be honest. I started ACCA about 10 years ago. I actually did AAT before that so I had three exemptions, and then I did the tax exam past that and then did the financial reporting and I got 49%. And I decided to give it up after that because my confidence was really knocked. I just couldn't get back into it. Mentally, I just couldn't do it. And then I decided just to work my way up. I

Wow, that's quite a journey. And when you're saying 49, what's the pass mark?

Yeah, it's a journey. It's 50.

Oh, so only one mark to go?

Yeah. And I put so many hours into it and I just felt like this is not for me now. And then, as I say, my confidence was knocked big time and then I decided to give it up. I thought I'd just focus on working my way up in a company and that's what I did, basically.

Can I ask what made you come back? What made you start again?

I always felt it was like a piece of me that was missing. I feel like if I'm working in an accountancy, a role, I just feel like it's something I need to do. So I thought I'm going to give it one more shot. And I started last year and I found a provider that I felt they were really good and I started passing the exams again and then my confidence

How did it feel?

I felt like I won the lottery. I think you put so much effort into it and so many hours and you sacrifice your social life and it affects everything like your day- to- day. So I felt like it meant a lot to me. And especially going back into it after 10 years, I just felt... All I keep saying to everyone is, "

That's fantastic. And how many have you got to go?

I've got five more now.

Five more to go.

Yeah. I did the financial management exam and I failed that in the summer, because I had year- end, so it's a combination of both. And then I just stopped it again. So I went and did it again in December, so I'm waiting for my results next week. Yeah.

It's only a few days out.

It's a few days out, yeah.

We're just waiting for results at the moment.

Yeah, we are. Next Monday.

A few days until they come out. And you touched on that you were focusing on getting qualified by experience. Where are you working at the moment and what do you do?

I work for ERM and they're based in Liverpool Street in London and they're an environmental consultancy, so they're backed by a private equity. So I'm doing a group accountant role there now. Yeah, so I actually love the role. The team are amazing and they're very supportive. And I think where you're working, as well, is really important.

Okay. And Xhulja , if we can come to you, what do you do? Where do you work? Can you tell us a little bit about your job?

Of course. So at the moment I'm working as a financial analyst associate at Nomad Foods. It's a really great job. It gives you opportunities to grow, especially if you've got the ACCA title, which I'm working towards on. So it's a very nice environment. It's a big company with many opportunities to socialize but also to grow and to travel, as well, because we are currently collaborating with Germany. Their finance

That's fantastic. And can we ask, where are you in your studies at the moment?

Basically, I'm done with the practical practice of ACCA because since I started uni, to be honest, I started my journey with ACCA, as well. At the same time I was working, I looked for an internship. And as soon as I said, " I'm working towards ACCA," they said, " Okay, good. There's an ambitious girl who has work ethic," of

That's a fantastic answer. So you've only got two exams left to do.

Yeah.

So you've passed many exams so far. What does it feel like to pass when you've opened that email or that text message that gives you your passing mark?

It's the greatest satisfaction to see your achievements become true, your dreams become true. In a way, you feel properly that all this investment that you've put on all this time, everything that you had to invest, it gives you a reward. It has a light in the end of the tunnel.

And could you go over a little bit about what investment there is? As in, are we talking time, work? What goes into taking the exams and what has that looked like for you?

Obviously, it requires a lot of time management. Basically, you need to sacrifice a lot of time, do a lot of reading, of course, and be very well- prepared. For me, it was a sacrifice that those hours I could

And have you found other people as part of a student community? Is there a community of those who are studying?

There is a large community, actually. People in finance or our people aim towards ACCA because it is a internationally recognized title, of course. But I actually found my study buddy in my friend at uni. She was an ambitious girl, like all 70% plus. So we joined together and we are currently studying towards ACCA so we can have it in our pocket, let's say.

That's lovely. That's really lovely. What's been hard? Has there been any bumps in the road in your journey through the qualification?

Of course, because life happens when we are busy doing other things; like family time that required money, attention, loss of travel because of work, university studies, as well, at the same time. So I was doing three jobs and ACCA at the same time.

Three jobs?

Yes.

Wow.

So time management is a quality that was a must for me. But still, even with three jobs and life happening on the other side in uni, I'm telling you, you can still do ACCA and still excel on it.

I think that's a really inspiring message to hold down three roles and still be continuing with your studies with that goal of getting to the end. That's really lovely to hear. Ravi, I want to come back to you. How do you think your job will change when you've completed your exams? You've got five to go.

I think my job will still stay the same, but there'll be opportunity to be promoted in the company, maybe more management positions. Or if I want to leave, in say five or 10 years, there'll be other opportunities worldwide. So I think because ACCA is recognized worldwide, so it's a good qualification to

And what have you enjoyed about the process so far? I know that your journey, you've started, you've stopped, you've gone back, and now we're at the point where we've got lots of passes under our belts, we've got five more exams to go. What have you enjoyed about the process so far?

I like how when you are practicing the studying and revising and you feel that you're getting the answers right, I just feel that you feel that you're achieving something. I think it is a self- confidence thing. So I definitely feel that after passing these exams and studying for the exams, it definitely

Have you found a student community? Is there someone that you are studying with or a group that you've worked with?

I use FME Learning. They're a learning provider. And each time we do a subject, the tutor creates a WhatsApp group. For three months you are in contact with everyone that's studying in that period. So there'll be a lot of questions going back and forth about any queries they have on an exam question to the tutor and they've always answered

That's fantastic.

Yeah. It's really good.

What's been difficult about progressing through your studies?

To be honest, I feel like it's making time for yourself, as well, and your friends and your partner, family. And that's what I find the most hard; because sometimes when you work in a job Monday to Friday, you might work till say 8: 00 sometimes or 7: 00, and then the weekend is the only time you get to

On the prize.

On the prize, yeah. And I took the time out and I managed to go and see a lot of places around the world and do scuba diving, practice my hobbies. But I can't do that right now. Now I have to say, look, you know what, I can't go away right now. I need to just focus and that's why I have to sacrifice. That's the hardest thing.

Is there something that you'll reward yourself with when you do qualify?

I would like to travel, maybe just go away for three months. I don't know if my employer will allow me, but I'd love to just go to the Philippines, Bali or Southeast Asia and I just want to go away. I just want to travel. I think that's the best thing, honestly.

Disappear.

Disappear and switch off. And honestly, I would like to do it by myself, as well, now, because I just imagine myself just sitting on a beach. Because even when you go on holiday and you know have to come back to studying... Work is work, but when you have to come back studying, it's a big shock to system to get

You're not going to take some ACCA notes or some light reading to the beach?

Whenever I've done that, I always say I would do that. And then when I take it there, I never look at them. So I always feel just maybe just leave the notes back home.

Would you do anything differently if you could go back?

Yeah, I think if I could go back now, say 10 years, I think I would've finished my... If you can do that, I would feel that just don't even work if you can and maybe just do the exams for a year or two years and just focus on your exams. Because if you have the opportunity not to have to, living at home or whatever, I say just do your exams for two years, like a university degree, and just treat it like

I think there are many different ways of gaining your qualification. And obviously, studying full- time is definitely one of them. But then I guess you're missing out on the experience that you are gaining in the workplace that solidifies what you are learning in the classroom, whether that's in person or online. Xhulja , would you change anything? Would you do anything differently if you could go back to the start of your studies?

To be honest, I was fully invested since I started the journey with ACCA and I wouldn't have done anything differently, even though it cost me a lot, like social life and everything. But I can say with full voice, let's say, it was worth it in the end. So everything was worth it all the time.

That's lovely. What resources have you found helpful to you? You're so far through your studies, you are almost at the end and I hope you'll stay in touch and you'll let us know when the end has arrived and you've got no more studies left to do. But what resources have you found helpful?

There are all sorts of resources online. You have everything you need. But what I use actually is the Kaplan books and the ACCA resources to do different mock tests, which are very, very helpful. You test yourself before you're going to the actual exam, so you have the opportunity to see where you stand and how far you need to

Thank you. I think that's great advice and that's something that we also advise at ACCA. Practice is key. Practice, practice, practice, in terms of question practice for your exam. Have any of the exams or study helped specifically in your work so far?

Absolutely. In the beginning when I started the ACCA, it was taxation actually helped me a lot because I was working before in an accountancy office. So obviously, it helped me through the self- assessment, different taxes for different business. And then it was strategic business leader, which I actually just did in December. Still waiting for the results next week.

Keep my fingers crossed.

Yes, please. And it helped me through the financial journey to understand better the corporation world and how it works. So definitely, as you previously said, it is very important to get in touch with the reality. From studying ACCA, you are in touch with the reality, as well, so it helps.

And as you're so close to the end of your studies, what are your hopes when you finish?

When I finish, I'll start another title with ACCA. That's the beauty of the ACCA title. It gives you basically the basis to reach for the stars, in a way. Because there are titles which I've been researching on; actually, international audit. Because it's not just finance and accounting, it's the auditing, as well. And there are so many career opportunities

What an inspirational message there. But I do understand where you are coming from. It is an internationally- recognized qualification in accounting and finance. There's so many career paths open to you, specifically once you have qualified. Xhulja, can you tell me if there have been any rewarding aspects about studying for the qualification?

Of course. My teacher obviously knew that I was studying towards ACCA, so she selected me as one of the students to make it to this international competition for the UK. And basically, we submitted our application and I was selected Accountancy Graduate of the Year by the PQ magazine.

That's amazing. That's really amazing. You got your trophy. Did you get to keep it?

Yes, I got to keep it. I have it at home.

That's really fantastic. I'm very impressed.

Thank you.

I'd like to return to you, Ravi. Is the training worth it?

I think it is, yeah. I think it definitely is. Like Xhulja was saying, there's a module financial reporting, and I find that really helpful in my work because of looking at balance sheets, financial statements, cashflow statements. So that worked hand- in- hand. What you're studying, the study actually is very detailed, but overall what you're learning can be applied in your day- to- day work. So I think it is worth it 100 percent. Yeah.

Have you done strategic business reporting just yet?

Not yet. No.

You're going to love it. It's going to be great. Xhulja , I want to come to you. Is the training worth it in your opinion?

It is definitely worth it. As Ravi previously said, it's day- to- day life. It applies to day- to- day life because in the end that's what you need, something that's going to be applied in reality. We are more and more going into a practical world who teaches exactly what you need to do and that's what ACCA does.

And lastly, if you were to give some advice to someone listening at home who's considering accounting and finance as their career path, what advice would you give them?

Please do, first of all. But what amazes me about the world of finance is you don't get just stuck there. It just opens the door to so many other opportunities. So basically, if you've chosen finance, you just chose to open the door to many opportunities for yourself. So please do.

And Ravi, same to you. If you could give some advice to someone at home who's considering this career path, what would you say to them?

Yeah, like Xhulja said, finance and accounting has so many different areas. You've got FP&; A, you've got audit, you've got tax. There's so many areas you can look into. And ACCA does actually cover every single area, as well, which is great. So you might pick something up when you're studying and you will enjoy that area, say tax, and you can actually apply for that job in the future when you're qualified. But if you are looking to do ACCA, I would

Thank you so much. So that's it from this episode of By All Accounts. Thank you Xhulja and Ravi for joining me today. For a link to watch the video version of this podcast, check out the show notes. With skills in accountancy and finance, you can work in any business anywhere and turn your passion into an exciting and rewarding career with an ACCA qualification. You can sign up to find out more by heading to accaglobal. com forward slash BU anywhere. That link is