However, the ACCA qualification itself is quite flexible, feasible, and well-structured, still, students tend to get stuck in some situations. These challenges commonly take place either because of students’ panicking or ignorant attitudes. Other than that, challenges ACCA students face in Nepal may also include financial obligations, limited personal resources, and uncertainty regarding the structure of ACCA qualification. Today, this blog will help you understand the most commonly faced challenges of ACCA in Nepal and suggest the best possible solutions to them.
CHALLENGES OF ACCA AND THEIR SOLUTIONS:
LACK OF AWARENESS AND GUIDANCE:
Problem:
The most common challenge faced by students of ACCA in Nepal is a lack of understanding about the structure of qualification, career prospects of ACCA, requirements and obligations of ACCA, etc. The qualification of ACCA doesn’t rely on academic knowledge only, rather it is highly focused on other aspects as well, such as technical skills, regulatory compliances, international accounting standards, ethical and professional modules, CPD, and practical work experience. Understanding all these requirements of ACCA in Nepal can be quite confusing for beginners with no guidance.
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Solution:
It is advised for ACCA aspirants in Nepal to do their research about the qualification before starting their ACCA journey. Having a good understanding of the requirements, obligations, and career prospects of the qualification is very important to align their academic and professional goals, and to create an effective study plan. Students can go for career counseling, and ACCA awareness campaigns, and attend workshops and seminars to get clarity about the qualification.
FINANCIAL CONSTRAINTS:
Problem:
Another significant challenge faced by students of ACCA in Nepal is the cost of the qualification. Looking at the economic condition of Nepal and financial inequality in the region, it won’t be difficult to understand how big the barrier of cost is for the aspirants of ACCA in Nepal. ACCA qualification has several fees attached to it such as registration fee, exams fee, exemption fee, annual subscription fee, and tuition fee. Fulfilling all these financial obligations can be very stressful for the students who are hardly making ends meet.
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Solution:
Education is a right of every individual, and with determination and focus, one can easily overcome any situation. Therefore, in such distressful situations, students should stay calm and start looking for possible financial support such as scholarships, financial aid, employer sponsorships, and discounts on fees.
UNRELIABLE STUDY MATERIAL:
Problem:
Unreliable study material is another issue faced by students of ACCA in Nepal, as there are many online learning providers and resources of ACCA available in the region. It can be difficult for the students to know about each one of them. Many students tend to get trapped by unreliable course providers and face difficulties in effective learning that eventually result in poor academic performance and failure.
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Solution:
To avoid any mishap it is very important to know which course provider or resource provider is reliable, students can check if that specific institute is approved and acknowledged by ACCA Global. It is highly recommended to rely on ACCA-approved institutes and resources only.
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EXAM STRESS AND TIME MANAGEMENT:
Problem:
ACCA exams are considered one of the most competitive exams of accounting and finance because of their diverse and unique syllabus. It is common for aspirants of ACCA in Nepal to be a bit more stressed about their exams as compared to students of other qualifications. Normally, students face many mental and physical health issues during their exams period, which is quite draining.
Apart from that, some students face a lot of trouble with effective time management. Time management is very important in ACCA qualification and can affect your overall academic performance.
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Solution:
To manage the exam stress of ACCA in Nepal and learn effective time management students can take help from time management workshops to create their study schedules and techniques. They can also go for stress management counseling services that help students to cope with their academic stress.
DIFFICULTY IN MANAGING WORK AND STUDY TOGETHER:
Problem:
Usually, the students of ACCA in Nepal are working professionals who find it quite challenging to balance work and study together. They fear compromising on either of them and find themselves in a stressful situation.
Solution:
ACCA qualification offers flexible study options for example: part-time studies. This flexibility of part-time learning allows students to manage work and study. Other than that, aspirants of ACCA can also opt for online learning options which allow flexibility, self-paced learning, easy accessibility, and personalized study plans.
LANGUAGE BARRIERS:
Problem:
Students of ACCA in Nepal must be proficient in English since the qualification is entirely based on this language. Students who are not good at English can face many challenges in understanding and comprehending questions and answers while studying.
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Solution:
Before registering themselves to ACCA in Nepal, students who face challenges in the English language can join language support programs. Apart from that, peer study groups are another source to clarify, discuss, and get a better understanding of concepts in your native language that you find complex to understand in English.
CONCLUSION:
Since the qualification of ACCA is not very common in the region and doesn’t follow the traditional study methods and structure, it leads to many misconceptions among students. These misconceptions or inclarity regarding the qualification later turn into challenges. Therefore, students are advised to stay calm in such situations and get themselves educated about the matter rather than panicking.
Usually, the most common challenges faced by students of ACCA in Nepal are financial obligations, language barriers, exam stress, time management, unreliable study materials, lack of awareness and guidance, work-study balance, etc. These challenges can be easily overcome if managed efficiently, hence, it is better to sort all your challenges step by step rather than panicking and losing control over the situation.
FREQUENTLY ASKED QUESTIONS:
Q1: How can students of ACCA in Nepal improve their exam success rate?
A: To improve the ACCA exam success rate students should stay consistent with their studies, follow a structured study plan, invest in reliable study materials, and practice from past papers.
Q2: What are the benefits of networking for students of ACCA in Nepal?
A: By availing of global networking opportunities students can get industry insights, employer interaction, increased career opportunities, global exposure, professional guidance, peer support, etc.
