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LEARNING CENTRE

COPING WITH STRESS ADVICE FROM THE PRIZEWINNERS

EXAM STRESS CAN BE DIFFICULT TO CONTROL, AND CAN EVEN IMPAIR EXAM PERFORMANCE, SO LEARNING HOW TO MANAGE STRESS IS AN IMPORTANT PART OF EXAM PREPARATION. ACCA DECEMBER 2009 EXAM PRIZEWINNERS CLEARLY MANAGED THEIR EXAM NERVES EFFECTIVELY WHAT ADVICE DO THEY HAVE FOR OTHER STUDENTS?

CARA MILLER JOINT GOLD MEDAL WINNER Works for: Baker Tilly as a group audit manager Lives in: Bury St Edmunds, Suffolk Studied with: Kaplan Financial Chose ACCA: Because it was so flexible CLICK HERE FOR CARAS STRESS TIPS

SALLY WILLARD JOINT GOLD MEDAL WINNER Works for: Ernst & Young LLP as an executive Lives in: London Studied with: BPP Professional Education Chose ACCA: Because international recognition is important for an international firm such as Ernst & Young CLICK HERE FOR SALLYS STRESS TIPS

NICOLA CROMACK SILVER MEDAL WINNER Works for: rpmi as a business assurance senior Lives in: Middlesbrough Studied with: BPP Newcastle Chose ACCA: Because the comprehensive syllabus, and worldwide recognition suited my career choice as an auditor CLICK HERE FOR NICOLAS STRESS TIPS

COLIN JEFFREYS BRONZE MEDAL WINNER Works for: PricewaterhouseCoopers CI LLP as a senior associate Lives in: Guernsey, Channel Islands Studied with: BPP Guernsey Chose ACCA: Because I could choose how many papers to sit, and when CLICK HERE FOR COLINS STRESS TIPS

MAKE SURE YOU ARE PREPARED FOR YOUR EXAMS For more tips on coping with stress visit www.accaglobal.com/stressbusting

CARA MILLER, JOINT GOLD MEDAL WINNER I take around four days off work before each exam, and plan my time carefully, breaking it into three-hour blocks. During these four days I do at least two mock exams, practise questions, and read, setting aside time to focus on difficult areas. A strict revision programme makes me feel well prepared and ready. The day before the exam I finish studying at 5pm, get everything ready for the next day, relax and get a good nights sleep, then arrive at the exam hall in plenty of time. Ever since my first exam when I was just as stressed about the journey as I was about the exam my husband has taken the day off work and driven me to the exam hall. I read my notes in the car, and then we meet up for lunch afterwards. This makes exam day much less scary like a nice day out with my husband, only I have to sit an exam first! > BACK TO MAIN ARTICLE

SALLY WILLARD, JOINT GOLD MEDAL WINNER I control exam stress by making sure Im well prepared. If Ive done enough revision, especially on the more difficult areas, this gives me the confidence to know that I will answer the exam to the best of my ability. I also try to have a good nights sleep before the exam, but despite all this, I think everyone is nervous when they enter the exam room I attempt to control my nerves by adopting a positive mind-set and taking deep breaths. > BACK TO MAIN ARTICLE

NICOLA CROMACK, SILVER MEDAL WINNER I was fortunate that my employer allowed me sufficient time to prepare before my exams which, together with a very supportive family, greatly reduced my stress levels. Earlier in my ACCA studies I had taken a break to start a family, and this time away made me even more determined and focused when I returned. As a result, missing an exam session helped reduce my stress, although this approach doesnt suit everyone. I certainly feel nervous in the exam hall, but use the 15-minutes reading time to calm myself, and decide on which questions to answer and in what order. I also make sure I arrive with plenty of time to spare, so I can compose myself, and dont have to worry about being late. > BACK TO MAIN ARTICLE

COLIN JEFFREYS, BRONZE MEDAL WINNER I controlled pre-exam nerves by making sure I got some fresh air and daylight for at least an hour every day. I found that after a proper break I was more refreshed and ready to move on to the next topic. I also wasnt too concerned if I had an unproductive revision session these days happen and all you can do is move on. In the exam hall, I think theres something wrong if you dont feel nervous after all, youve spent months preparing for the exam and only three hours to show that you know enough to pass. I found the most effective approach was to close my eyes, take a few deep breaths and try to block out everything else around me. I also tried to remember that it would soon all be over! > BACK TO MAIN ARTICLE

ACCA Question Days

Confidently sit your ACCA exams knowing youve gone through a dry run.
On a Question Day, you will attempt exam standard questions under timed exam conditions. Your answers will be marked by one of our tutors and you will receive full debriefs on the day.

To find out more: www.bpp.com/acca/exampractice 0845 075 1100 (courses in London) 0845 226 2422 (courses outside London)
Accountancy & Tax

Business Law

Business & Management

Finance

Human Resources

Marketing

14

LEARNING CENTRE

how to advance by succession planning

RECKON YOU DESERVE A PROMOTION? PERHAPS YOU DO BUT AN EMPLOYER THINKING AHEAD MAY WANT YOU TO IDENTIFY WHOLL STEP INTO YOUR SHOES BEFORE THEY GIVE YOU THE NOD
Yes, indeed succession planning isnt the preserve of senior management. Many organisations regard the ability to recognise and nurture talent as an essential demonstration of leadership potential, even for those in junior supervisory roles. If youve already achieved your first promotion as many young finance professionals have, long before they approach their final ACCA exams you might reasonably think that all you have to do is continue excelling at your work for your next step up the career ladder to be guaranteed. Think again: who will do your job if you move onwards and upwards? Whose problem will that be? With post-recession skill shortages already being talked of in HR circles, finance managers will be under pressure to show that theyre bringing in and developing fresh blood. That pressure is likely to cascade down the ranks, so that, barring those at raw trainee level, almost everyone else will have a stake in succession planning for their own position. And even if its not an explicit instruction, it stands to reason that if you prepare a junior colleague to make a smooth transition into your role, your boss and other decision makers will be less nervous about accelerating your own progression. GAIN A BETTER PERSPECTIVE If you have day-to-day supervisory duties, do more than simply ensure that people perform their tasks properly and on time. Observe their strengths and weaknesses, as well as what drives them (or holds them back). If you dont conduct their appraisals, ask to at least sit in on them, and be involved in goal-setting objectives youll gain a better perspective on their motivation, as well as how their aspirations fit within the context of your companys, or the finance teams, long-term objectives. Discuss your opinions with your boss (who may very well be bringing you on to eventually fill his or her job) and be open-minded to constructive criticism and the actions youre recommended to take as a result, such as extra coaching. PLAY TO PEOPLES STRENGTHS Even if you dont have formal responsibility for juniors, you can still exert influence. Play to peoples strengths and dont hold back with deserved praise. Show an interest in their careers: ask about their plans, and think about how you might help for instance, by using your own internal networks to introduce them to a mentor, or to help them secure a secondment or work shadowing opportunity. But be mindful not to make unrealistic promises or overstep your authority your plans could backfire embarrassingly. And one last thing experience of succession planning is likely to be highly prized by employers. So, as you go along, make a note of your succession planning activities, with a view to your future CV, or to discussions in appraisals or job interviews.

STUDENT ACCOUNTANT 10/2010

15

TIPS FOR RETAKERS FAIL-SAFE TIPS FOR SUCCESS

DID YOU FAIL A PAPER AT THE LAST EXAM SESSION? IF YOURE RETAKING AN EXAM, ACCA SOUTH AFRICAS HEAD OF EDUCATION TONIA VALIS OFFERS HER FAIL-SAFE TIPS FOR FUTURE SUCCESS
Its essential to embrace the possibility of failure in order to achieve success. Reason being that failure should only be seen as a temporary setback on your path to a successful career it should not prevent you from succeeding. Professional exams are not easy and many ACCA members have failed a paper or two en route to membership. Forget your failures and instead focus on learning from your mistakes and plan for your success. GRASP THE SITUATION? Its important to establish what went wrong in order to prevent this from happening in future exams. Did you allocate sufficient time to each question? Did you attempt each question? Did you understand the requirement? Did you simply not study enough? Was your exam technique poor? The answers to these questions will assist you in focusing your efforts when you study. REVIEW YOUR APPROACH TO STUDYING Review your study habits and establish whether your mode of study is suitable to your lifestyle and routine. Assess whether your study habits need to be changed and whether you could do things differently. Are you aware of the different modes of study available to you: face-to-face (part time or full time) tuition, online study, distance learning, home study to name but a few? Attending tuition with one of ACCAs approved learning partners, joining an online study group or registering for revision courses can all be very effective study methods. Ask your tutor or search our online directory. Never leave an exam room too early instead re-read and scrutinise the requirement and ensure that you answered the question. A cut above the rest Many students forget to apply their minds to other factors that affect exam performance. Often, these techniques can help you gain those extra marks that will ensure exam success: achieve balance before the exam: exercise and a balanced diet aids memory recall rest the night before the exam prior to the exam commencing, avoid talking to people who are panic-stricken during the exam, pay no attention to those around you understand the wording of a question, eg state and explain, explain and critically evaluate, etc use as much paper as you need do not cramp your answers use a black pen that is blotch-free and easy to read speed reading the text is an invaluable tool if applied correctly if you do not make answer plans, at least note critical words/points/ideas state the obvious in an answer, do not assume if you are struggling for ideas, re-read you answer as it may help you jog your memory deviate from your time allocation only if you are sure you are scoring marks do not abandon that question only to move on to a question where you may not be scoring.

GAIN AN UNDERSTANDING It is not surprising to note that the reasons for not passing an exam can actually be easily resolved. A few pointers you may find useful include: Insufficient knowledge You cannot successfully pass an exam if you havent studied adequately. Be prepared. Topic or question spotting is a common pitfall there are no shortcuts, so ensure that your preparation covers the entire syllabus. Exam technique Understand the format of the exam and ensure you attempt questions required what is compulsory and what is optional. First read the question carefully and plan your answers. Manage your time effectively and note your time allocations keep an eye out for overruns. Take care to show calculations to workings and provide full answers and not bullet points for discursive answers. Presentation is imperative make it easier for the examiner to mark by writing clearly and leaving an empty line between paragraphs/points in the answer.

16 LEARNING CENTRE

COMMUNICATE FOR SUCCESS CAMBRIDGE FINANCIAL ENGLISH

AS ACCOUNTANCY BECOMES ONE GLOBAL PROFESSION, EXCEPTIONAL ENGLISH LANGUAGE SKILLS WILL BE A NECESSITY. THE INTERNATIONAL CERTIFICATE IN FINANCIAL ENGLISH COMPREHENSIVELY DEVELOPS ENGLISH LANGUAGE ABILITY
Everyone has experienced a time when something theyve said has been misinterpreted. The misunderstanding may have been cleared up there and then with no further consequences or it may have escalated into something larger. So we can all appreciate how important it is to be able to say what you mean. In business the impact of saying the wrong thing or not being understood can be much greater. And when English which is widely accepted as the language of international business is the language used to communicate, being able to use the right words and phrases in the right context can mean the difference between closing a deal or not. For example, the use of tact is a critical element of an internal audit report. If you are the author of the report, you will want to encourage readers to make the changes you suggest, so a persuasive tone is important. For many types of writing, in fact, if a reader feels that you have a sympathetic attitude, they will be more willing to consider what you have to say. A good way to show the reader your attitude is with sentence adverbials. Look at the two sentences below. Which one would make you feel that the writer had more confidence in your companys procedures? Surprisingly, your company is profitable. Naturally, you company is profitable. Such adverbs can be a powerful tool for communicating a writers attitude.

THE CAMBRIDGE INTERNATIONAL CERTIFICATE IN FINANCIAL ENGLISH (CAMBRIDGE ICFE) ASSESSES ENGLISH LANGUAGE ABILITY ACROSS THE FOUR KEY SKILLS OF READING, WRITING, LISTENING AND SPEAKING AND HELPS THE AMBITIOUS TO DEMONSTRATE THEIR SKILLS AND SUITABILITY FOR A SUCCESSFUL CAREER IN INTERNATIONAL FINANCE.
BOOSTING MOBILITY To add to the complexity of the English language in general, there is the complexity of financial English terminology and jargon. Michael Milanovic, chief executive of Cambridge ESOL, said: People working in an international finance context need high levels of English language and an understanding of the kind of language used in a demanding, fastmoving profession. To help finance trainees and professionals demonstrate they have the financial English skills they need, ACCA has partnered with University of Cambridge ESOL (English for Speakers of Other Languages) recognised globally for their English qualifications to offer a qualification designed specifically with business, finance and accountancy professionals in mind. The Cambridge International Certificate in Financial English (Cambridge ICFE) assesses English language ability across the four key skills of reading, writing, listening and speaking and helps the ambitious to demonstrate their skills and suitability for a successful career in international finance. FLEXIBLE LEARNING OPTIONS Recognising, that for most professionals time is a limited and very valuable resource ACCA, Cambridge ESOL and Cambridge University Press combined their expertise to develop a unique learning programme. Cambridge Financial English is a mix of online and facetoface learning, designed to be facilitated by a teacher, tutor or mentor. This blended learning course comprehensively develops financial English language ability and can prepare individuals for the Cambridge ICFE exam. Neil Stevenson, ACCAs executive director brand, said: Developments such as the advent of International Financial Reporting Standards (IFRSs), together with the everincreasing globalisation of finance and business, means that accountancy is rapidly becoming one global profession. Individuals who possess exceptional English skills and can avoid financial English faux pas could find themselves soaring ahead of their peers in the international business arena.

sTudenT aCCounTanT issue 10/2010

17

iCFe student mohammad danish khan

Why did you choose iCFe? i chose the international Certificate in financial english (iCfe) in order to improve my employability and to convey to potential employers that i have good communication skills. while other Cambridge esol courses would have improved my general english language skills, only iCfe focused on the financial communication skills required for my career development. i initially read about iCfe in student accountant magazine. after doing the relevant research i found it to be a very suitable qualification for me. Where did you study? To study for iCfe, i enrolled at the school of business studies (sbs) in karachi, pakistan. The teaching staff were really helpful and skilled, especially our speaking instructor, who developed our speaking ability. initially i used the course notes and websites to practise. i then used the bpp textbook for revision. i am a part-time aCCa student and also help my father in running our family business. How did iCFe benefit you? although iCfe did help me improve my reading, listening (from good to exceptional) and writing skills, i think i was already good enough in those skills to pass aCCa exams. i have found that the main benefit of doing iCfe is that the skills i have learned have improved my abilities to manage my family business as it involved frequent communication with international and local clients. since doing iCfe i have been able to overcome the challenges that prevented me from speaking fluently. The most challenging part of iCfe initially was listening and concentrating continuously for over 30 minutes. Then it was writing, i found it difficult to limit my sentences. The most enjoyable part of iCfe was interacting with fellow students, specifically in the initial stages, where during the speaking lessons we practiced our english skills by talking about non-financial topics. What is your next goal? i am currently focused on completing my aCCa studies and the practical experience requirement so that i can become an aCCa member and pursue a fulfilling career in accountancy.

want to know more? Click here to find out more about the international Certificate in financial english

18

learning centre

per support online links

the acca website has a wide range of suPPort to helP you get your Practical exPerience requirement (Per) for acca membershiP
per interactive case studies Follow the journey of six individuals four trainees and two workplace mentors through PER. Explore typical questions raised and challenges faced throughout the PER cycle and some of the choices and options available to you. access the Per interactive case studies Further resources, including Support Sheets and Case Studies are available from myACCA. hOw tO use the trainee develOpment matrix (tdm) A guide to help you through the various functions of the trainee development matrix (TDM) this is also available through myACCA. tdm guidance videOs ACCA has produced 18 short videos and podcasts which give a stepbystep guide to assist trainees and workplace mentors in completing the TDM. access the tdm guidance videos help with getting a wOrkplace mentOr This guide has been designed to give to a person you would like to act as your workplace mentor. It briefly describes the nature of the role and the benefits to them. per guide FOr trainees This guide explains all you need to know about ACCAs practical experience requirements in detail. FOcus On perFOrmance Objectives published in previOus issues OF student accOuntant Professionalism, ethics and governance 1 Demonstrate the application of professional ethics, values and judgment 2 Contribute to the effective governance of an organisation 3 Raise awareness of nonfinancial risk Other resOurces Performance objectives booklet The performance objectives booklet contains detailed information to help workplace mentors guide trainees on each performance objective they have to achieve, and understand the values and attitudes trainees should demonstrate as they gain their practical experience. answering challenge questions A guide to help you understand how to approach the challenge questions which are related to the performance objectives. The guide contains sample answers to help you understand what a suitable answer may look like. trainee suPPort sheets Setting and meeting performance objectives Getting practical experience Ensuring personal effectiveness How to find a mentor. The support sheets provide guidance on what you need to do to help you achieve your practical experience. Personal effectiveness 4 Manage self 5 Communicate effectively 6 Use information and communications technology business management 7 Manage ongoing activities in your area of responsibility 8 Improve departmental performance 9 Manage an assignment financial accounting and rePorting 10 Prepare financial statements for external purposes 11 Interpret financial transactions and financial statements Performance measurement and management accounting 12 Prepare financial information for management 13 Contribute to budget planning and production 14 Monitor and control budgets finance and financial management 15 Evaluate potential business/ investment opportunities and the required finance options 16 Manage cash using active cash management and treasury systems audit and assurance 17 Prepare for and collect evidence for audit 18 Evaluate and report on audit taxation 19 Evaluate and compute taxes payable 20 Assist with tax planning.

Save an additional 50 off one of our Question Based Days* when you book onto one of our ACCA online InterActive packages.
Theres countless reasons to choose LSBF as your business and finance education provider. Heres 3:
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LSBF is the only college to win PQ Magazines College of the Year, two years in a row. LSBF CIMA tutor Jenny Hughes is PQ Magazines 2010 Tutor of the Year.

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LSBF offers ACCA students access to innovative MBA and MSc Finance programmes. All our programmes are available on campus and online. The LSBF MBA was listed at number 19 in the Financial Times** Online MBA 2010 listing.

LSBF is in partnership with:

Visit LSBF.org.uk/SA for more details and to register.

*** The LSBF ACCA+MBA and LSBF ACCA+MSc programmes are dual programmes comprising of LSBF ACCA tuition, and the LSBF MBA/MSc programme which is fully outside the scope of ACCA approval. As such, the LSBF MBA/MSc programme is quality-assured and accredited by the BAC, the University of Wales and LSBFs institutional accreditations, and is not approved or endorsed by ACCA. **FT and Financial Times are trademarks of The Financial Times Ltd. *QBD is a full day course consisting of timed question practices under exam conditions with on-site marking to help improve your exam techniques. See website for details. Terms and conditions apply. E&OE.

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predict the winners of the 2010 world cup

Junes issue of Student Accountant will be focusing on the FIFA World Cup in South Africa. Between 11 June and 11 July all eyes will be on the football stars as they compete for their ultimate prize. To celebrate this month of football, were running a competition and giving you a chance to write an article for Student Accountant. To enter, simply predict which teams will be first, second and third. Email your predictions to us together with your name, student registration number and stage of studies, and 100 words about your favourite non-study activity. The student who gets the prediction right and is the first name drawn out of a hat will get the chance to write an article for Student Accountant magazine about their life as a student. Email your World Cup 2010 winning predictions to studentaccountant@accaglobal.com

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individual paper prizewinners december 2009 exam session

WATCh ouT For proFIlES And hInTS And TIpS From ThESE prIzEWInnErS In ThE nExT FEW ISSuES oF STudEnT ACCounTAnT
ACCA quAlifiCAtion PAPEr f4 98 mArkS Shuang Liu, UK PAPEr f5 97 mArkS Wang Mingyuan, China Alexandra Uhr, UK PAPEr f6 98 mArkS Lauren Lockwood, UK Ambreen Javed, Middle East PAPEr f7 89 mArkS Roshenka Madanayake, Sri Lanka PAPEr f8 88 mArkS Caroline Sherlock, UK Joanne Bayliss, UK Cao Wei, China PAPEr f9 96 mArkS Julie Grandidge, UK PAPEr P1 88 mArkS Leanne Knight, UK PAPEr P2 87 mArkS Michelle Scott, Ireland PAPEr P3 93 mArkS Angela Madhar, UK PAPEr P4 78 mArkS Kristen Song Zi, China PAPEr P5 88 mArkS Rida Zaheer Ahmed, Pakistan PAPEr P6 96 mArkS Colin Jeffreys, UK (also a bronze medal winner) PAPEr P7 89 mArkS Lucy Quinton, UK CAt quAlifiCAtion 1st PlACE 459 mArkS Yeap Soon Yeang, Malaysia 2nd PlACE 458 mArkS Rachel Lim Li Mae, Malaysia 3rd PlACE 454 mArkS Sarah Batool Qureshi, Pakistan For more information visit www.accaglobal. com/students/results/ winners