May 29, 2024 • 24 mins
Revising all hours, dealing with exam anxiety, and struggling to balance work and study… we all know that the journey to ACCA qualification can be a stressful one. So, is the training really worth it?
This week, we sit down with ACCA students Ravi Tanna and Xhulja Duka to get the low down on the challenges many students face while studying for their accountancy exams. From needing to resit exams to knowing when you should take a break, we dig into the details of what can make this time tricky, and what can help take the edge off.
Plus, we explore Ravi and Xhulja’s experiences working as accountants during their studies, including why they recommend getting qualified earlier in your career in you can.
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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 www.accaglobal.com/beyouanywhere.
To watch the video version of this podcast, head to www.accaglobal.com/byallaccounts.
By All Accounts… is a Fresh Air Production for ACCA. The Senior Producer is Eva Higginbotham, with support from Sarah Moore. The Executive Producer is Annie Day. The videographer is Yohan Forbes and the Sound Engineer is Basil Oxtoby. Bukky Fadipe is the Assistant Producer and Nik Gandhi is the Marketing Manager.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Maiki Lynch (00:01):
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
(00:24):
of which we've heard about on the series, it can
feel a bit overwhelming. Because the thing is, you can be
an accountant without having any specific accountancy qualification, but to
be a chartered accountant, you do need one. And for
most people, getting an accountancy qualification like ACCA can take
several years, requires quite a bit of studying, and can cost
(00:47):
a bit of money too. It's a commitment. So is
the training really hard? Are they good resources to pass
the accountancy exams or do you have to go it alone?
And are there benefits to getting through the tests even
if you've already started working? Let's find out. This is
(01:07):
By All Accounts. Now, this is a subject I happen
to know quite a lot about, and that's because although
I have an accountancy qualification, I've spent the past 10
years working in the education of future accountants. I've taught
many school- leavers, those on apprenticeship schemes, grad schemes, and
(01:29):
those more experienced hires sponsored by their employer to complete
their training. Everyone's path is different, and what gaining that
qualification means is personal to each of us, whether that
be the letters we can place behind our name, the
job we can land, the knowledge and skills we've gained,
or the salary we are now awarded. So I found
(01:50):
two people who currently work in accounting and finance, alongside
studying their accountancy exams, to ask, is the training worth it?
First up, Ravi Tanna. Hello.
Ravi Tanna (02:01):
Hi, nice to meet you.
Maiki Lynch (02:02):
And Xhulja Duka, welcome.
Xhulja Duka (02:03):
Nice to meet you.
Maiki Lynch (02:04):
Ravi, I'm going to come to you first and ask,
how's the studying going?
Ravi Tanna (02:10):
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
(02:30):
qualified by experience. And that's what I've been doing for
the last 10 years. And the latest role I'm in
is for a qualified accountant, but everyone around me is
qualified and I just feel like it's a piece of
me that's missing. So I've went back into it last
year and started again, ACCA.
Maiki Lynch (02:46):
Wow, that's quite a journey.
Ravi Tanna (02:47):
Yeah, it's a journey.
Maiki Lynch (02:47):
And when you're saying 49, what's the pass mark?
Ravi Tanna (02:51):
It's 50.
Maiki Lynch (02:51):
Oh, so only one mark to go?
Ravi Tanna (02:52):
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.
Maiki Lynch (03:10):
Can I ask what made you come back? What made
you start again?
Ravi Tanna (03:14):
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
(03:34):
built up. But the first result I was waiting for
last year when I went back into it was nerve
wracking. Those three months, four months were the worst. Even
when I passed, I didn't open my results up for
two days. And my tutor contacted me saying, " What did
you get?" I said, " I'm not going to open my
results up." So I was on holiday and I opened
it up there and then I passed and I couldn't believe it. Honestly, I couldn't believe it.
Maiki Lynch (03:53):
How did it feel?
Ravi Tanna (03:56):
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, "
I'm studying, I'm studying." So it was worth the sacrifice
I made and then I just slowly got back into it and
(04:17):
started doing the exams again.
Maiki Lynch (04:19):
That's fantastic. And how many have you got to go?
Ravi Tanna (04:22):
I've got five more now.
Maiki Lynch (04:22):
Five more to go.
Ravi Tanna (04:23):
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.
Maiki Lynch (04:40):
It's only a few days out.
Ravi Tanna (04:41):
It's a few days out, yeah.
Maiki Lynch (04:43):
We're just waiting for results at the moment.
Ravi Tanna (04:45):
Yeah, we are. Next Monday.
Maiki Lynch (04:46):
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?
Ravi Tanna (04:57):
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.
If they understand your studies and if they give you
that sort of understanding, I think you can actually get
(05:19):
your exams.
Maiki Lynch (05:19):
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?
Xhulja Duka (05:26):
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
(05:48):
to socialize but also to grow and to travel, as
well, because we are currently collaborating with Germany. Their finance
department is moving to London. So I found myself there
in this amazing team and I'm currently very happy with
my job.
Maiki Lynch (06:07):
That's fantastic. And can we ask, where are you in your
studies at the moment?
Xhulja Duka (06:13):
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
(06:37):
course. Because that's what ACCA gives you, basically. It makes
you more reliable and more professional to people, which is
very important in the financial career. You are dealing with
money, you are dealing with different assets. So it's really
important for people to trust your ethics and professionalism. That's when
(07:00):
I started. Now I have only two exams left so
I can reach to the next stage of my career
and become a full analyst. And this is what ACCA
does, basically. It helps you grow.
Maiki Lynch (07:16):
That's a fantastic answer. So you've only got two exams left
to do.
Xhulja Duka (07:19):
Yeah.
Maiki Lynch (07:19):
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?
Xhulja Duka (07:28):
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
(07:52):
the tunnel.
Maiki Lynch (07:54):
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?
Xhulja Duka (08:05):
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
be working, but I was instead studying. And in the
(08:25):
end of the day, as far as I can see,
progressing through my career, all these hours that I invested
in studying so that I didn't go to work or
do socializing or do something else, take a trip for
myself or just be on my own time, basically, it
has its rewards; because it helps you grow and in
(08:47):
the future it helps you earn more money and be
in another position for yourself, be more independent, be more
proud of yourself, be more professional.
Maiki Lynch (08:58):
And have you found other people as part of a
student community? Is there a community of those who are studying?
Xhulja Duka (09:07):
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
(09:30):
70% plus. So we joined together and we are currently
studying towards ACCA so we can have it in our
pocket, let's say.
Maiki Lynch (09:40):
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?
Xhulja Duka (09:51):
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
(10:12):
ACCA at the same time.
Maiki Lynch (10:14):
Three jobs?
Xhulja Duka (10:15):
Yes.
Maiki Lynch (10:17):
Wow.
Xhulja Duka (10:17):
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.
Maiki Lynch (10:33):
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.
Ravi Tanna (10:51):
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
have. You can go and work abroad and we have
(11:11):
offices all around the world, as well, so we can
even maybe move between those offices.
Maiki Lynch (11:15):
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?
Ravi Tanna (11:30):
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
helps the self- confidence. And then that mirrors into your
(11:52):
work, as well, because you can apply a lot of
the skills, the discipline and the learning that you learn through ACCA
into your day- to- day work. You don't realize it,
but subconsciously it does improve your work standards, self- confidence.
Maiki Lynch (12:07):
Have you found a student community? Is there someone that
you are studying with or a group that you've worked with?
Ravi Tanna (12:14):
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
it straight away. So there is a community every three months whenever
(12:38):
you do the exams with this learning provider.
Maiki Lynch (12:41):
That's fantastic.
Ravi Tanna (12:42):
Yeah. It's really good.
Maiki Lynch (12:43):
What's been difficult about progressing through your studies?
Ravi Tanna (12:47):
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
then the weekend is the only time you get to
relax and wind down. And if you have to go
straight into your studies on a Saturday morning or a
(13:08):
Friday evening and you have to sacrifice saying no to
people, not going on holidays, missing out on having great
times with your friends or your partner, I feel that's
what's been the most difficult. So just balancing everything in
terms of saying no to people and just keeping your
head on the studying game.
Maiki Lynch (13:28):
On the prize.
Ravi Tanna (13:30):
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.
Maiki Lynch (13:48):
Is there something that you'll reward yourself with when you
do qualify?
Ravi Tanna (13:52):
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.
Maiki Lynch (14:06):
Disappear.
Ravi Tanna (14:07):
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
back into it. I think it takes me about two
to three weeks to actually sit there on a desk
(14:28):
on a Saturday and say, " Look, just focus on that one
thing," and not look at my phone, not watch TV
or not go out or anything like that. So it'd
be nice just to go away and just completely switch
off and not have to think about sitting on a
desk for three months or something like that on the weekends.
Maiki Lynch (14:41):
You're not going to take some ACCA notes or some light reading to the beach?
Ravi Tanna (14:45):
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.
Maiki Lynch (14:55):
Would you do anything differently if you could go back?
Ravi Tanna (14:59):
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
(15:20):
or whatever, I say just do your exams for two
years, like a university degree, and just treat it like
that and then go into the work world. Because I
think work's always there for you if you're studying or
something like that; but in terms of exams, you need
to give your time to that. So I would say
I would've completed it say 10 years ago and just
focused on my studies and not focused on looking for
a job or working.
Maiki Lynch (15:41):
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
(16:01):
you could go back to the start of your studies?
Xhulja Duka (16:05):
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
(16:28):
everything was worth it all the time.
Maiki Lynch (16:34):
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?
Xhulja Duka (16:53):
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
(17:15):
to the actual exam, so you have the opportunity to
see where you stand and how far you need to
go. It's a clear mirror. I would suggest to all
of the students, actually, firstly to start with the mock
test, see where you are, then study through the ACCA
materials, Kaplan books. Everything you need is there. And if
(17:39):
you find boring, like reading a book, you are not
the bookish type, there are so many videos on YouTube
which are very helpful.
Maiki Lynch (17:47):
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?
Xhulja Duka (18:06):
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
(18:29):
did in December. Still waiting for the results next week.
Maiki Lynch (18:32):
Keep my fingers crossed.
Xhulja Duka (18:32):
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
(18:54):
in touch with the reality, as well, so it helps.
Maiki Lynch (18:59):
And as you're so close to the end of your
studies, what are your hopes when you finish?
Xhulja Duka (19:05):
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
(19:26):
audit. Because it's not just finance and accounting, it's the
auditing, as well. And there are so many career opportunities
out there, like international opportunities. So just put a finger
on the globe and you can be there with ACCA.
Maiki Lynch (19:42):
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?
Xhulja Duka (20:02):
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
(20:23):
selected Accountancy Graduate of the Year by the PQ magazine.
Maiki Lynch (20:27):
That's amazing. That's really amazing. You got your trophy. Did
you get to keep it?
Xhulja Duka (20:35):
Yes, I got to keep it. I have it at home.
Maiki Lynch (20:39):
That's really fantastic. I'm very impressed.
Xhulja Duka (20:42):
Thank you.
Maiki Lynch (20:43):
I'd like to return to you, Ravi. Is the training worth it?
Ravi Tanna (20:47):
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
(21:09):
applied in your day- to- day work. So I think
it is worth it 100 percent. Yeah.
Maiki Lynch (21:14):
Have you done strategic business reporting just yet?
Ravi Tanna (21:17):
Not yet. No.
Maiki Lynch (21:18):
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?
Xhulja Duka (21:25):
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
(21:45):
need to do and that's what ACCA does.
Maiki Lynch (21:49):
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?
Xhulja Duka (21:59):
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.
Maiki Lynch (22:24):
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?
Xhulja Duka (22:30):
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.
(22:52):
But if you are looking to do ACCA, I would
say exam practice. If you're doing these exams, ACCA provides
a website that provides you with many examples of exam questions.
So I would say just be prepared to just practice
as many questions as you can so when you walk
into the exam, you feel more confident and ready. It's
not just about the knowledge; it's all about the confidence.
(23:13):
I think 50% of the exams is confidence, as well. And if
you practice those exams that ACCA provide on their website,
I think it really helps you to build on that
confidence and walk into the exam to be able to get the pass.
Maiki Lynch (23:24):
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.
(23:48):
You can sign up to find out more by heading
to accaglobal. com forward slash BU anywhere. That link is
also in the show notes. See you next time. I'm
Maiki Lynch, and this is By All Accounts.
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
(00:24):
of which we've heard about on the series, it can
feel a bit overwhelming. Because the thing is, you can be
an accountant without having any specific accountancy qualification, but to
be a chartered accountant, you do need one. And for
most people, getting an accountancy qualification like ACCA can take
several years, requires quite a bit of studying, and can cost
(00:47):
a bit of money too. It's a commitment. So is
the training really hard? Are they good resources to pass
the accountancy exams or do you have to go it alone?
And are there benefits to getting through the tests even
if you've already started working? Let's find out. This is
(01:07):
By All Accounts. Now, this is a subject I happen
to know quite a lot about, and that's because although
I have an accountancy qualification, I've spent the past 10
years working in the education of future accountants. I've taught
many school- leavers, those on apprenticeship schemes, grad schemes, and
(01:29):
those more experienced hires sponsored by their employer to complete
their training. Everyone's path is different, and what gaining that
qualification means is personal to each of us, whether that
be the letters we can place behind our name, the
job we can land, the knowledge and skills we've gained,
or the salary we are now awarded. So I found
(01:50):
two people who currently work in accounting and finance, alongside
studying their accountancy exams, to ask, is the training worth it?
First up, Ravi Tanna. Hello.
Ravi Tanna (02:01):
Hi, nice to meet you.
Maiki Lynch (02:02):
And Xhulja Duka, welcome.
Xhulja Duka (02:03):
Nice to meet you.
Maiki Lynch (02:04):
Ravi, I'm going to come to you first and ask,
how's the studying going?
Ravi Tanna (02:10):
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
(02:30):
qualified by experience. And that's what I've been doing for
the last 10 years. And the latest role I'm in
is for a qualified accountant, but everyone around me is
qualified and I just feel like it's a piece of
me that's missing. So I've went back into it last
year and started again, ACCA.
Maiki Lynch (02:46):
Wow, that's quite a journey.
Ravi Tanna (02:47):
Yeah, it's a journey.
Maiki Lynch (02:47):
And when you're saying 49, what's the pass mark?
Ravi Tanna (02:51):
It's 50.
Maiki Lynch (02:51):
Oh, so only one mark to go?
Ravi Tanna (02:52):
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.
Maiki Lynch (03:10):
Can I ask what made you come back? What made
you start again?
Ravi Tanna (03:14):
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
(03:34):
built up. But the first result I was waiting for
last year when I went back into it was nerve
wracking. Those three months, four months were the worst. Even
when I passed, I didn't open my results up for
two days. And my tutor contacted me saying, " What did
you get?" I said, " I'm not going to open my
results up." So I was on holiday and I opened
it up there and then I passed and I couldn't believe it. Honestly, I couldn't believe it.
Maiki Lynch (03:53):
How did it feel?
Ravi Tanna (03:56):
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, "
I'm studying, I'm studying." So it was worth the sacrifice
I made and then I just slowly got back into it and
(04:17):
started doing the exams again.
Maiki Lynch (04:19):
That's fantastic. And how many have you got to go?
Ravi Tanna (04:22):
I've got five more now.
Maiki Lynch (04:22):
Five more to go.
Ravi Tanna (04:23):
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.
Maiki Lynch (04:40):
It's only a few days out.
Ravi Tanna (04:41):
It's a few days out, yeah.
Maiki Lynch (04:43):
We're just waiting for results at the moment.
Ravi Tanna (04:45):
Yeah, we are. Next Monday.
Maiki Lynch (04:46):
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?
Ravi Tanna (04:57):
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.
If they understand your studies and if they give you
that sort of understanding, I think you can actually get
(05:19):
your exams.
Maiki Lynch (05:19):
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?
Xhulja Duka (05:26):
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
(05:48):
to socialize but also to grow and to travel, as
well, because we are currently collaborating with Germany. Their finance
department is moving to London. So I found myself there
in this amazing team and I'm currently very happy with
my job.
Maiki Lynch (06:07):
That's fantastic. And can we ask, where are you in your
studies at the moment?
Xhulja Duka (06:13):
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
(06:37):
course. Because that's what ACCA gives you, basically. It makes
you more reliable and more professional to people, which is
very important in the financial career. You are dealing with
money, you are dealing with different assets. So it's really
important for people to trust your ethics and professionalism. That's when
(07:00):
I started. Now I have only two exams left so
I can reach to the next stage of my career
and become a full analyst. And this is what ACCA
does, basically. It helps you grow.
Maiki Lynch (07:16):
That's a fantastic answer. So you've only got two exams left
to do.
Xhulja Duka (07:19):
Yeah.
Maiki Lynch (07:19):
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?
Xhulja Duka (07:28):
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
(07:52):
the tunnel.
Maiki Lynch (07:54):
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?
Xhulja Duka (08:05):
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
be working, but I was instead studying. And in the
(08:25):
end of the day, as far as I can see,
progressing through my career, all these hours that I invested
in studying so that I didn't go to work or
do socializing or do something else, take a trip for
myself or just be on my own time, basically, it
has its rewards; because it helps you grow and in
(08:47):
the future it helps you earn more money and be
in another position for yourself, be more independent, be more
proud of yourself, be more professional.
Maiki Lynch (08:58):
And have you found other people as part of a
student community? Is there a community of those who are studying?
Xhulja Duka (09:07):
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
(09:30):
70% plus. So we joined together and we are currently
studying towards ACCA so we can have it in our
pocket, let's say.
Maiki Lynch (09:40):
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?
Xhulja Duka (09:51):
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
(10:12):
ACCA at the same time.
Maiki Lynch (10:14):
Three jobs?
Xhulja Duka (10:15):
Yes.
Maiki Lynch (10:17):
Wow.
Xhulja Duka (10:17):
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.
Maiki Lynch (10:33):
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.
Ravi Tanna (10:51):
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
have. You can go and work abroad and we have
(11:11):
offices all around the world, as well, so we can
even maybe move between those offices.
Maiki Lynch (11:15):
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?
Ravi Tanna (11:30):
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
helps the self- confidence. And then that mirrors into your
(11:52):
work, as well, because you can apply a lot of
the skills, the discipline and the learning that you learn through ACCA
into your day- to- day work. You don't realize it,
but subconsciously it does improve your work standards, self- confidence.
Maiki Lynch (12:07):
Have you found a student community? Is there someone that
you are studying with or a group that you've worked with?
Ravi Tanna (12:14):
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
it straight away. So there is a community every three months whenever
(12:38):
you do the exams with this learning provider.
Maiki Lynch (12:41):
That's fantastic.
Ravi Tanna (12:42):
Yeah. It's really good.
Maiki Lynch (12:43):
What's been difficult about progressing through your studies?
Ravi Tanna (12:47):
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
then the weekend is the only time you get to
relax and wind down. And if you have to go
straight into your studies on a Saturday morning or a
(13:08):
Friday evening and you have to sacrifice saying no to
people, not going on holidays, missing out on having great
times with your friends or your partner, I feel that's
what's been the most difficult. So just balancing everything in
terms of saying no to people and just keeping your
head on the studying game.
Maiki Lynch (13:28):
On the prize.
Ravi Tanna (13:30):
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.
Maiki Lynch (13:48):
Is there something that you'll reward yourself with when you
do qualify?
Ravi Tanna (13:52):
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.
Maiki Lynch (14:06):
Disappear.
Ravi Tanna (14:07):
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
back into it. I think it takes me about two
to three weeks to actually sit there on a desk
(14:28):
on a Saturday and say, " Look, just focus on that one
thing," and not look at my phone, not watch TV
or not go out or anything like that. So it'd
be nice just to go away and just completely switch
off and not have to think about sitting on a
desk for three months or something like that on the weekends.
Maiki Lynch (14:41):
You're not going to take some ACCA notes or some light reading to the beach?
Ravi Tanna (14:45):
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.
Maiki Lynch (14:55):
Would you do anything differently if you could go back?
Ravi Tanna (14:59):
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
(15:20):
or whatever, I say just do your exams for two
years, like a university degree, and just treat it like
that and then go into the work world. Because I
think work's always there for you if you're studying or
something like that; but in terms of exams, you need
to give your time to that. So I would say
I would've completed it say 10 years ago and just
focused on my studies and not focused on looking for
a job or working.
Maiki Lynch (15:41):
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
(16:01):
you could go back to the start of your studies?
Xhulja Duka (16:05):
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
(16:28):
everything was worth it all the time.
Maiki Lynch (16:34):
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?
Xhulja Duka (16:53):
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
(17:15):
to the actual exam, so you have the opportunity to
see where you stand and how far you need to
go. It's a clear mirror. I would suggest to all
of the students, actually, firstly to start with the mock
test, see where you are, then study through the ACCA
materials, Kaplan books. Everything you need is there. And if
(17:39):
you find boring, like reading a book, you are not
the bookish type, there are so many videos on YouTube
which are very helpful.
Maiki Lynch (17:47):
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?
Xhulja Duka (18:06):
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
(18:29):
did in December. Still waiting for the results next week.
Maiki Lynch (18:32):
Keep my fingers crossed.
Xhulja Duka (18:32):
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
(18:54):
in touch with the reality, as well, so it helps.
Maiki Lynch (18:59):
And as you're so close to the end of your
studies, what are your hopes when you finish?
Xhulja Duka (19:05):
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
(19:26):
audit. Because it's not just finance and accounting, it's the
auditing, as well. And there are so many career opportunities
out there, like international opportunities. So just put a finger
on the globe and you can be there with ACCA.
Maiki Lynch (19:42):
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?
Xhulja Duka (20:02):
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
(20:23):
selected Accountancy Graduate of the Year by the PQ magazine.
Maiki Lynch (20:27):
That's amazing. That's really amazing. You got your trophy. Did
you get to keep it?
Xhulja Duka (20:35):
Yes, I got to keep it. I have it at home.
Maiki Lynch (20:39):
That's really fantastic. I'm very impressed.
Xhulja Duka (20:42):
Thank you.
Maiki Lynch (20:43):
I'd like to return to you, Ravi. Is the training worth it?
Ravi Tanna (20:47):
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
(21:09):
applied in your day- to- day work. So I think
it is worth it 100 percent. Yeah.
Maiki Lynch (21:14):
Have you done strategic business reporting just yet?
Ravi Tanna (21:17):
Not yet. No.
Maiki Lynch (21:18):
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?
Xhulja Duka (21:25):
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
(21:45):
need to do and that's what ACCA does.
Maiki Lynch (21:49):
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?
Xhulja Duka (21:59):
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.
Maiki Lynch (22:24):
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?
Xhulja Duka (22:30):
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.
(22:52):
But if you are looking to do ACCA, I would
say exam practice. If you're doing these exams, ACCA provides
a website that provides you with many examples of exam questions.
So I would say just be prepared to just practice
as many questions as you can so when you walk
into the exam, you feel more confident and ready. It's
not just about the knowledge; it's all about the confidence.
(23:13):
I think 50% of the exams is confidence, as well. And if
you practice those exams that ACCA provide on their website,
I think it really helps you to build on that
confidence and walk into the exam to be able to get the pass.
Maiki Lynch (23:24):
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.
(23:48):
You can sign up to find out more by heading
to accaglobal. com forward slash BU anywhere. That link is
also in the show notes. See you next time. I'm
Maiki Lynch, and this is By All Accounts.
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