ACCA is one of the most difficult accountancy qualifications. This is because there is a standard that is required of ACCA members, affiliates and students. To pass your ACCA exams, you need to meet the standards set by the examiner. Generally, ACCA students find it difficult to maintain effective study mechanisms. The ACCA qualification requires students to adopt an effective study technique, and an efficient exam strategy. Here I will explain how you can adopt the gradualism theory to study for your ACCA exams and pass.
In biology and geology, gradualism states that changes of organic life and of the earth occur through gradual increments, and often that transitions between different states are more or less continual and slow rather than periodic and rapid. This theory generally states that the big changes we see today in terms of the earth, and animals occurred over a long period of time. They did not happen over night. Some took decades, and others centuries. Lets take for example Mountain Everest. Research has proven that it grows by about 0.635 cm per year. These small changes make a huge difference, and that will be evident in years to come.
In investment finance, the theory of gradualism applies too. It still maintains that large changes occur from small incremental actions taken consistently over large periods of time. For example, if you save a dollar everyday, you will be a millionaire in 57 years. That might seem like a long time but it will be worth it in the future. Save $5 a day, you will be a millionaire in 41 years, save $10 a day, you will be a millionaire in 34 years, save $33 a day and you will be a millionaire in 21 years, and lastly save $100 a day you will be a millionaire in 14 years. Small steps matter!
Where am I going with all this? Well, when you are in the early stages of your ACCA journey, nothing will make sense. You might stumble and fail your first ACCA paper and think about giving up. Don’t, its part of the learning process. Work harder and put more effort than ever, small steps matter, your future self will thank you! You might also be studying for one of your ACCA exam and when taking the first past exam paper, you fail dismally. Do not worry, small steps matter. Repetition is the mother of all learning. Put more effort and practice more past papers until there is light at the end of the tunnel. Remember, do not give up until you have finished the ACCA qualification. Goodluck