Record number of students complete final ACCA exams

Record number of students has successfully completed their final ACCA (the Association of Chartered Certified Accountants) exams in June 2014 sitting, when 190,000 candidates took over 330,000 papers around the world. Many students are also tackling exams online, with an additional 53,000 students taking computer-based exams.

The June 2014 session saw 8,325 students satisfy the exam component of their professional qualification, enabling them to take the next step to ACCA membership. Students also need to complete practical experience and ethics requirements to become ACCA members. Overall pass rate rose to 43 percent for the ACCA Skills and Professional exams, largely due to improved performances in the Skills exams, while pass rates in the Professional Level remained steady. At 52 percent, the results for Paper P1, Governance, Risk and Ethics, were pleasing. This exam assesses students using a range of case studies based on real world business techniques. It requires students to demonstrate their competency in understanding and managing risks, as well as resolving ethical dilemmas.

As a result of completing their Fundamentals level, 8,744 students are now eligible for ACCA's Advanced Diploma in Accounting and Business on completion of their Professional Ethics module, one of the requirements for ACCA membership. The Advanced Diploma celebrates students' achievement of the Fundamentals level before they move on to the Professional level and awards a professional certification equivalent in level to a bachelor honours degree.

The results for the Knowledge level of the ACCA exams (F1 to F3) and the equivalent exams in the Foundation Level have improved this session. This is very pleasing, given that the structure of the exams has now changed so that students must now complete multi-task questions which require students to tackle longer questions around one or more scenarios, thereby demonstrating their understanding of the issues.

In addition to new, free specimen exams, the launch of this new style exam was supported by practice tests which students can purchase. These tests are intended as final mock exam practice and in addition to providing a near identical exam experience, they provide user friendly feedback, enabling them to see their strengths and weaknesses and supporting them to target properly their final pre-exam revision.

Alan Hatfield, ACCA director - learning, said: "We would like to congratulate all students who have passed their examinations this session, particularly the record number of students who have passed their final level exams and are well on their way to becoming ACCA members." The exams within the Professional level represent a major challenge for students, being set at an equivalent level to a Masters degree.-PR

Copyright Business Recorder, 2014