A quick view of the ACCA F3 paper

More about ACCA F3

If you have to take the FIA course for the ACCA papers, the ACCA F3 work is the last set before you move onto the Skills module. The FIA was established to provide a gateway for local and global students to gain access to the accountancy profession. The Fundamentals in Accountancy is designed to provide a general working background in the Accounting profession. The ACCA F3 is an introduction to the world of accounting builds upon the theories and methods from the other two papers. 

The groundwork of the ACCA F3 paper covers principles and concepts relating to financial accounting. The primary purpose is for the student to establish proficiency in entry techniques for groups of all sizes. Some subjects included are purpose of financial reporting, characteristics of financial information and much more. You may be able to skip the FIA and head straight into the Skills module. Some degrees may not be able to provide exemption from some of the ACCA papers. 

You can find used F3 papers from reputable websites and use them as a study tool. Some other resources or study tools may depend where you are studying. Are you going to physical school? Are you taking courses online? You should be able to find video lectures, notes, the paper with solutions and questions and other vital items to help you succeed. It may be worth the while to attend a specialized ACCA school, in order to gain access to their tutors. A tutor will have the experience to guide you on your path to the ACCA qualification.

Head to the TonySurridge website: www.tonysurridge.co.uk for more information on ACCA studies.

Getting Free ACCA study help

Where can you go for free ACCA study?

On your quest for the ACCA qualification, you may find some free ACCA study groups or programs. You can find free ACCA study guides that may offer solid studying advice. Some qualified universities may have free ACCA study sessions, groups, material or links to the right information for your needs. Some courses may not be available under the free help but you can do a thorough search.

Get the help when you need it! Sometimes a tutor may be able to help you at little out of cost expense. Some schools may offer free ACCA tutors to help answer your questions. If there is not an option for a tutor, you may want to find lecture notes, videos, audio, etc. The available resources for F1-F9 and P1-P7 may be available for you to use free.

If you are looking for specific information regarding a particular item, like Business organization, governance or short-term decision making techniques; you could find supported ACCA chat system and find notes regarding the particular subject matters. Another option is to find an online pool of resources relating to the ACCA F1 and ACCA F2 subsets. You may have to be fussy in the type of information that you are wanting and wait for it to become available.

The best way to get some free ACCA study help is to hold a studying session with your peers. They may have caught onto some of the key concepts without much of a problem, while you could provide your own strengths to the group.

Enroll into an ACCA Course

The ACCA course creates and develops core sets in financing, taxation, management, law, banking and other key areas. The accounting aspect to the ACCA course is only one nickel in the jar; the professional course is designed to increase the strengths and to build upon the managing foundation that the general course provides. The ACCA course is offered by certified schools or through an online method for students and professionals.

There are several ways to gain acceptance into the ACCA schooling. The bare essential guideline requires a competency in the fundamentals of accountancy. The minimum requirements include two A-levels, three GCSEs or similar in five different subject matters that includes English and Mathematics. If you hold a relevant degree from an accredited ACCA University, you may be able to gain access to the professional course. You degree may be able to exempt you from nine of the fundamental exams. If you do not have a relevant degree, your acceptance is still possible. You will need to see what you can be exempted from with your degree.
International students will have to take several IELT tests to gain admission and follow the regulations of acceptance of the host country. After acceptance into the program, the studies may take as long as three years, you may need to gain practical experience during this time to gain access to the professional course.

Here are a few benefits that you gain after completing your studies. Your career is highly improved with the ACCA membership, global recognition from the ACCA group, career flexibility, and exclusive access to specialized resources and much more.

Using ACCA past papers as a study tool

ACCA past papers are a great study tool to employ into your schedule. ACCA past papers provide a great insight to practicing for the exam. You could use these ACCA past papers as a study tool to gain a feeling to what the examiner may be asking in the next exam. The past papers could be used with Examiner reports, technical articles, Syllabus and various ACCA study guides to help you succeed in the ACCA qualification.

The past papers provide a realistic exam feeling and the solutions guide provides an exceptional insight into the Examiner’s view. If these papers are used along with the current course load and other aids, the chances of success are greater. Do not rely on the papers as an exclusive tool for your studying. Your ACCA syllabus and current guides may enhance your studying time. The solutions aspect will provide a guideline to what the examiner is asking for in regards to answer style, quality and length.

Some of the ACCA past papers include F1 – F9 and may include the Essentials for you to study. The topics and subjects matters should correspond with the syllabus at the time and a general guideline could be developed from the syllabus and as well from the answer section. You could “test” yourself based on the older paper, before you look at the solutions to measure your learning success. Once you complete this aspect, you may want to examine the questions and answers with a careful eye. This may help you develop an attentive measure for your current studies. What you learned from the exercise should be carried over to your current endeavors.

General guidelines to prepare for an ACCA Exam

Studying for any type of exam takes patience and careful planning, especially for an ACCA exam. I hope that you have been diligent enough to keep all study materials that may include audio, video, papers and other types of useful information for the ACCA exam. Organization is a critical factor from the very first stage of attending the ACCA School. There are some generalized guidelines to help you prepare for the ACCA exam.

Good, you have everything together and there is plenty of time to study before the exam. The whole key to achieving success on the exam is to be proficient in your working knowledge. You will need to plan for the ACCA exam, compose a plan on your laptop or in a paper notebook. Be prepared and flexible for events to arrive, such as work and possible emergencies. Develop a working mode for the topics of the syllabus that needs to be covered. You should familiarize yourself with the information from day one to now, look at the ACCA syllabus and see what is covered the most.

As you examine your notes and previous ACCA examinations (if you have them), focus on your strengths from the papers and exams. Build a daily goal for yourself to meet, for example; cover the concepts, reading a chapter or practice questions. You may want to seek help over a particular difficult area with a tutor or a close friend that is in the same endeavor. As time marches down, create a study sheet to help keep the concepts or vital information in your mind.

For your ACCA exam, you will be expected to know...

...The role of the finance department?
We get asked this question a lot, and I thought I would help to shed some light on the matter.

Within bigger companies the department head of finance, often holding the title of Finance Director or FD, will often answer directly to the CEO and other board members, with oversight of the two senior managers within the finance department – the treasurer and the financial controller.

The basic roles of these 3 individuals are key to the ACCA examinations.

1. ACCA qualified Director of Finance - their role

The FD is in control and has accountability the planning of:

- the preparation of statutory accounts;
- the management accounting and management accounting information systems, such as budgetary control; payroll and taxes; and treasury management and strategic financial decisions.

As part of his duties, the FD is required to give advise to the Board of Directors on matters such as the following:

- Identifying which corporate investments should be undertaken
- how these investments should be funded
- as well as the policy for end of year dividends

For further information on the ACCA, the ACCA exam syllabus, or additional knowledge on the Roles of the Finance department within large companies, see the www.TonySurridge.co.uk website.