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I am in the same position as yourself, just waiting for the certificate so I cannot say for sure whether you get an email to confirm that it has been sealed and dispatched. From reading this forum in the past it looks like you only get told it will be 12 weeks from being accepted as a member (subject to council dates) and that you don’t get anymore info on it. I suppose after the next meeting you could maybe contact ACCA to confirm your certificate was included in those sealed at the most recent meeting.
@tayyabom said:
Hello everyone,I have read almost all the conversation in this thread. I had some queries which I would like to ask here. I was accepted as ACCA member on 15th August, 2019. I have paid the required fee.
I wanted to ask that how will I know that my ACCA certificate is sealed and dispatched as there is no indication on myACCA or business website?
Your guidance with regards to timeline of certificate seal and dispatching will be highly appreciated.
Regards,
TayyabThe next council meeting is 19th September. Your certificate will be signed and sealed following that meeting. I believe the 12 week countdown happens from that point but that most people will receive it well within 12 weeks.
I am waiting on my confirmation which I think is tomorrow for becoming a member. My supervisor is fully qualified and has been for many years. As far as I can tell he hates having to input the details each year but never struggles to complete the requirement. The 21 verifiable units should be easy enough to pick up for free through ACCA. CPD is for every year and I think it only stops once you become a retired member at the end of your career.
@spukster said:
Hi,
September will also be my 1st attempt , also using open tuition notes notes with videos of John. Any other advise you would like to share ?Your feedback would be appreciated.
Thank you.
All I would advise is to really keep the theory side to a minimum, you don’t want to spend a lot of time learning lots of narrative, there are important areas to learn but it does in a way take a back seat with the figures and explanation of those figures being heavily examined.
For this exam question practice is absolutely key to success so you will need a revision kit! I made the mistake at my first attempt of doing no question practice, failed with 33, then completed question practice and got 72.
The other thing to know is that there will always be a focus on section B and E of the ACCA syllabus so get to know this very well.
I have just had a look at the paper again as I await the result, hoping to get an idea of the possible answers.
I have calculated an initial NPV of -$1,614,194. When the option to sell (Put Option) is included using D1, D2 and ND1 and ND2 provided, I calculate that the option is worth $2,409,124. When this is combined with the NPV the project is worth $794,930.
I am not certain about my NPV calculation being correct but it rings a bell from the exam. I also feel I can prove the NPV is roughly correct. When looking at the question to explain the initial variable for the options calculation I get the following:
Pe is $30,000,000 offered by Honua Co.
Pa is $36,450,554 which is the PV of years 3 and 4 in my NPV calculation.I have done the calculation myself for the figures that we were asked to explain the variable for and I have got ND1 of 0.7796 and ND2 of 0.3553 using my NPV from above.
You can take any calculator into the exam as long as it does not have any text storage facility. I have used a Casio fx-85GT for all exams, it is a pretty standard calculator for most in the UK.
There are a few forum topics relating to this subject matter, it seems to be quite an issue for some people. You will find that people are unwilling to simply send examples of PER they have used as it is their work and they don’t want people just copying and pasting.
The hardest part is getting started, this is all that is needed: https://www.accaglobal.com/content/dam/ACCA_Global/Students/per/PER-Performance-objectives-achieve.pdf Use this as it has ideas as to tasks a student may undertake to cover certain objectives.
A simple one that I used to get started and one that I would recommend to most is PO6 – ‘Record and Process Transactions and Events’. Almost every student will be doing this as part of their job in any sector.
The first element of this is essentially the operation of an accounting system using some form of technology. Second element is to gather end of period information. Third is to process routine financial data. Fourth prepare and review reconciliations and finally fifth making sure you’re using accounting standards.
So you can always say that a focus of your role is taking client receipts and invoices, providing a book keeping service which involves the reconciliation of the bank account on a monthly basis. You can make reference to the fact your employer has accountancy software that is used to compile the information from the client for the duration of their financial year to produce a trial balance at their year end. Towards the year end it can be explained that following accruals accounting, adjustments are made to the trial balance figures for prepayments and accruals, the inclusion of debtors, creditors and stock figures too.
Really all you are trying to do is explain how, within your employment, you are able to demonstrate that you have experience of various competencies.
There is another PER topic on here where someone has provided a full PER statement. It was posted when the word limit was 300, it is now 500 so you can provide a lot of detail to help your supervisor really understand that you are competent in the area you are claiming experience in.
The 36 months is purely working within a suitable setting for 36 months. For example I worked for 21 months in practice, had that signed off by my supervisor there, then went to public sector and have had the remaining 15 months signed off. As long as you are working full time in an accountancy based role then just being employed for 36 months will satisfy the requirement.
The three year period is a separate requirement to the PER although most will complete both at the same time. If you can fulfil the PER within 6 months then that is fine, but equally fine if it takes 4 years.
The only advice I would have is to get it completed and signed off as you go along. As soon as you feel you have achieved an objective, write about it and submit it to your supervisor. Your submission should explain and give examples of work you have completed that very clearly cover at least two of the five elements, and from that your supervisor can then see that the tasks you have completed also cover the remaining three.
If in any doubt, try to mention all five. I tend to have done that, but have grouped tasks together so one example covers elements 1 & 3, and another example covers elements 2, 4 & 5. It’s really up to your supervisor and the person completing it is in the best position to know whether they satisfy the requirement or not.
I think after three years you also need to undertake the same CPD requirement as a member, otherwise you won’t have done any learning for a long time before becoming a member.
I definitely couldn’t have got through without taking a break. I definitely agree that sometimes a little luck comes into it as everyone has the topics they don’t really struggle with.
Yes it would be good if you could just confirm you want to sit an exam and then tell them which one nearer the time.
Good luck with your result and with studying for the other two 🙂
Yes this is my last one, Ethics, PER and 36 Months completed so it’s the last hurdle. I can’t speak from personal experience of ATX but from other I have spoken to ATX is really quite a difficult paper, not too sure I would want to sit it with SBR which is also quite difficult, I sat it whilst it was P2 and found it tough.
Yes time management was an issue, I also had little time for question 3. It took a long time to work out what the examiner was asking when it came to the Black Scholes elements of the question. I would think that not using the minus for e would only lose you one mark for a calculation error and as long as your advice in the report used your own figure then you get all other credit for that question. I spent so much time on question 1 that I just ignored the 10 mark question on ethics and moved on.
The wait is really awful, I found it was easier last time as I knew I had failed. Is this your last exam?
I attempted the NPV and got negative $1.614m which I think is in line with what I got in the exam. Once the Black Scholes Model is applied I think I got a positive £800k in the exam. I haven’t really bothered to recalculate this part of the question or the rest of the exam. Yes I did notice the mark allocation on page ’24’ for questions 2 & 3, interesting to see and help with judgement of potential outcome. I believe I have achieved between 30 and 35 based on the mark allocation for Section B so only needing 20ish marks from Section A. Fingers crossed!!
An estimated score of 45 to 55 does seem like you might scrape a pass, this paper seems to have lots of marks that you can pick up if workings are neat and the examiner can see where you are going with something, even if you make a calculation error.
There are some free articles on the Financial Times surrounding Initial Coin Offering, it is essentially a Crypto Currency version of an IPO.
The June paper is in the past papers on the ACCA website. It says Sample March/June but is just the June paper, quite interesting looking back and reading the questions without the time pressure.
The examiner report for the exam does give a rough breakdown of the topics there were examined and it is very useful to see where in the eyes of the examiner that students went wrong and not to make the same mistakes as others.
If you can get books that cover from September ’19 to August ’20 then that is best as it relates to the exam period of Sep ’19, Dec ’19, Mar ’20 & Jun ’20.
The most up to date textbook is always best but quite often there is little difference depending on exams.
Nothing to be ashamed about that, everyone has different reasons for the time it takes to complete their studies. Getting into the cycle of sitting exams is hard but once you’re used to it they will start being ticked off quite quickly.
If you have every intention of completing ACCA why don’t you just use your current student membership to complete it. I am not sure how it works with cancelling and starting again but it does seem a little odd. You are one exam down, just keep it at.
The example from Chris is as far as I am aware, exactly what is needed as I have had all of mine signed off along similar lines. Just look at the objective, imagine someone asked you what do you do at work to achieve the objective and whatever you’d say to them, that is your answer.
I tend to go with Future-Spot at today’s date, giving the basis outstanding at that start. This will either show the Future being priced lower or higher than the spot. The unexpired basis is then used to show what the difference is between the Future and Spot at a later date. If the Future was higher at the start then it will be the higher value at the later date.
Hopefully that makes sense and is how I have come to understand it. I also have the BPP book and do not like how much they change the way things are calculated when the questions are very similar, certainly not student friendly.
If it helps the layout I always use is in the question practice book in the answer to question 50 (Casasophia). There is a boxed section in the answer and it comes just under the outcome. I use that for all questions.
Which was your final exam? I have sat AFM once and had just not covered enough material. I have started question practice so hopefully in another 8 weeks I should have got enough practice.
Just a shame ACCA doesn’t release results as soon as they are ready!
Thread I assume was deleted because of the obsession with a ‘Link Theory’ which as was shown before the thread was deleted, did not work for people. I believe this was something that did work in the past but has now been acted upon by ACCA, something any organisation would do when a potential breach of their systems is identified. People have waited weeks until this point, I suppose it’s not too bad waiting a few more days. Maybe discussion should be around whether it would be best to receive results before the weekend as opposed to the start of a fresh week. I am personally a finalist and know I failed my exam, I will not be eagerly anticipating my result this time around.
