Why studying for ACCA qualification is great for your career!

Here are some personal insights from Lawrence Grant’s Accounts Assistant, James Roberts, as to why you should think about studying for this qualification. Plus, tips on the best approach, and what the potential rewards could be.

Life before Lawrence Grant

Upon leaving university with my Finance and Accounting degree, I was keen to obtain the ACCA Qualification. To become a fully qualified ACCA member you must have three years relevant professional experience, and pass all fourteen exams. The first thing I thought about was, which route should I take to gaining the full qualification?

The three options I considered were:

1. Working full time and studying outside working hours.
2. Working and studying part time.
3. Studying full time without any employment commitments.

There are advantages and disadvantages with all of the above that I had to consider before making my decision. I talked to other professionals about their experiences to get a better understanding of the options, to help me choose which route would be the most suitable.

The questions I asked:

• What was their experience of the route they chose?
• How did they manage to stay motivated?
• If they could go back in time, what would they do differently?

Based upon their feedback, I decided ‘option one’ would suit me best.

Working at Lawrence Grant

I started my first full time employment at Lawrence Grant in October 2016. I hit the ground running because I had my first exam booked for December 2016. I was nervous about how I was going to juggle this new challenge of working full time with studying, but with encouragement from my mother who was studying for her masters at the same time, and support from Lawrence Grant, I enrolled with Kaplan Financial, who run very successful tuition classes.

The daily routine that worked really well for me was:

• 6am: Wake up.
• 6.30am - 8 30am: Study.
• 9am – 5.30pm: Working at Lawrence Grant
• 6pm – 8.30pm: Work-study group.
• Saturday (9am - 5pm): At Kaplan financial.

Two years at Lawrence Grant

To date, I have successfully completed eleven of the fourteen ACCA exams and I am on target to receive full ACCA membership by October 2019. The continued support I am receiving from Lawrence Grant has been fantastic; because they always ensure I had ample time to study.

I am regularly encouraged by my work colleagues too, which is a great boost to help me stay motivated!

The tuition at Kaplan has been extraordinary. They have a greater understanding of the examiner’s requirements and they can focus on these areas when teaching the subject. The classes had a strict timetable, which keeps me on track.

My Top Tip - Study with others!

We launched a group that offered a great opportunity to share knowledge, ask questions, give each other advice and support, which ultimately motivated us to pass our exams.

The huge positives of studying ACCA

• My self-confidence has improved.
• I have more structure to my working day. Strategic planning is now an integral part of my daily routine.
• I have embraced new challenges including learning German, representing the firm at networking events, I have also picked up the saxophone again after many years of neglect.
• I feel more comfortable to discuss latest legislation changes with clients and senior management
• The partners have more confidence in my ability, which has provided me with a new opportunity to oversee the administration of accounting software (Xero and Receipt Bank) for clients.

Overall, the benefits gained outweigh the sacrifices that I’ve made and I cannot wait to receive my full ACCA qualification. I would love to have the opportunity to work overseas, possibly in Germany where I could utilise my new language skills and experience the German working environment.

James Roberts is an Accounts Assistant at the firm who specialises in helping clients to understand their current financial position. Alongside, the preparation of accounts for limited companies, corporation tax and personal tax returns for a range of clients.