DOES ACCA GUARANTEE A GOOD LIFE?

I am writing to get your professional advice. I want to know realistically what I stand to gain as  a qualified accountant with the ACCA. ACCA was sold to me  as sort of key to the good life, by this  I mean gainful employment.

The reason for asking this is because I am finding it hard to stay motivated studying. I have three papers left to qualify and instead of settling down and studying for the December exams, I find my self asking if the sacrifice of studying and of course exam fees etc will pay off in the end.

I am 26 and currently working in a micro finance bank. Hold a Bsc (2.2) in accounting. Your advice on this issue will be most appreciated perhaps with some examples of people you know that are gainfully employed as a result of having the ACCA qualification.

Best Regards

Jude

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Dear Jude,

1, To be frank, more than any certificate, the key to a good life lies in the person. Even if a paper qualification gets one job, and one is not able to perform on the job, it will not take time before the person is booted out of the job. One of the favourite quotes of two of my mentors is “attitude is everything”.

2, I will not say ACCA is the key to a good life, but if well utilized, it has huge potential to be helpful in leading a good life. Definitely, it is better than not having.

3, You have come this far in the exams as you have just 3 papers to go. For me, that should be enough motivation. This should actually be the time to be most motivated. I expect you to be thinking of “let me just clear this damn thing and see what these people are talking about sef“. I am ICAN-qualified, and the two stages I got most motivated to write during my ICAN days were my first and my last stages. For the first stage, I had heard much about ICAN and how it’s difficult and things like that, I went with full force. By the time the result came out, I not only passed, I won the prize for the best candidate in Nigeria and first prize for 2 of the 3 subjects I wrote. That is motivation at work. After blasting that stage, I dropped guard, I began to think, “so this is how this thing is. So this is the ICAN they’re talking about blablabla“. Guess what? In the next stage, I failed one of the 4 subjects I wrote. I became somehow complacent and I didn’t regain the motivation until I got to final stage and was motivated again by “na just to pass these 4 final papers and qualify abi? Make I murder sleep and read. Na just for few weeks“. I cleared the 4 final papers at final attempt and became chartered. So, I think the fact that you’re in final lap should be enough motivation for you. Forget about the negative thinking, make up your mind. Be eager to know what post-ACCA life really holds.

4, Personally, I hold that professional certificates are very helpful, but I wont say they’re automatic key to good life. I got my first job because of the ICAN on my CV (despite not qualifying yet then). It was an accounting job and my academic degree was in economics, but the fact that I was writing ICAN (and indeed won prizes) made them believe I should be able to do the accounting job. Today, I work as an accountant. In fact, I have had all my over 7 years experience as an accountant in the oil and gas industry.

5, I concede that my first degree – first class – has probably been more helpful than my accounting qualifications, because it gets me invite for job selection process, but I would have stayed longer at home than I did after my NYSC if not because of the accounting exam. I was considering 2 jobs, one with my ICAN exams and the other with my economics degree but the accounting job came faster. I could have stayed longer waiting for the degree-driven job.

6, You didn’t have 2.1 or first class, but I can assure you that your work experience in that microfinance bank plus ACCA will surely improve your market value. Even in that organization, you will command more respect and may be considered if higher responsibility becomes available. ACCA will also be useful to you in applying to conventional banks or other microfinance banks for higher responsibility.

7, Study hard, get motivated and ace those 3 papers. Trust me, it will make a difference. If not for anything, for ego, for self-esteem that you’re one of the few people privileged to hold that global certificate.

8, Don’t put yourself under unnecessary pressure that your life must be better instantly because of ACCA. That can be a recipe for failure itself. Enjoy your life, study hard, face your job squarely. Trust me, you will get return on your investment in ACCA, if not immediately, in the medium to long term.

9, You asked for example: I have a friend that made 2.2 in school, and realizing it may be tough for her to get good job, she used her service year to study and write ICAN. She passed and qualified. It helped her in getting good job in an investment management company before moving to the oil and gas sector few years later. She is doing well now.

I wish you all the best.

Jarus