Making it

Student accountant talks to the first ACCA Qualification medal winners and the top three CAT winners from the December 2007 session

GOLD MEDAL WINNER

Sally James, UK, 402 marks

Sally James, winner of the gold medal following the December 2007 exams, was thrilled to find out that she had scored the top aggregate marks in the Professional level papers. 'It meant a lot to me because all my hard work had been recognised,' she said.
 
Sally works at Sanken Power Systems near Bridgend, Wales. She started working as a temp in 2000 after going to Cardiff University to study maths. 'I didn't really enjoy the degree,' admits Sally, 'so I decided to leave university before finishing my course and look for a job instead.'
 
With A-levels in double maths, and doing part of a maths degree, an accountancy career was always in the back of Sally's mind. 'After leaving university early, I got a job back at Sanken to help deal with an IT upgrade,' explains Sally. 'After a short while, a job in the accounts department came up and I thought it was too good an opportunity to miss. As well as offering me the job, Sanken also offered support for AAT training so I knew I would be able to get some exams under my belt as well.'

After completing her AAT qualification, Sally started her ACCA exams straight away. 'I got exemptions for the Part 1 exams and started on my Part 2 exams in 2005,' she says.
 
Sanken again supported Sally through her ACCA studies. 'They paid for my exams as well as tuition at Kaplan Financial, including day release, and revision courses,' she says. 'In addition to the exams, my manager worked with me closely to make sure I could get all my experience to be able to apply for membership.' Sally's organisation and her manager's support meant that she was able to apply for membership the moment she had passed her exams. 'I would have been quite disappointed if I wasn't in a position to apply for membership straight after finishing my exams,' she admits. 'It was great to find out that my application for membership was all in order relatively quickly after getting my results.'
 
As well as winning the gold medal following the December 2007 exam session, Sally also won the individual prize for the advanced tax paper which she took in June 2007. 'I didn't take any short cuts,' says Sally. 'I learned the entire syllabus and didn’t leave anything out.' 
 
Attending tuition at Kaplan Financial also helped Sally with her exam technique and preparation. 'The tutors were really focused on exam technique and made us do loads of exam practice. They also gave us time management tips, how to use reading and planning time, and whether to chose optional or compulsory questions first.' In addition, the tutors also helped Sally break down the exams to work out how much time to spend on each question.
 
Sally currently works as a management accountant at Sanken Power Systems, a subsidiary of the Japanese multinational firm, which specialises in manufacturing and selling power supplies for flat screen televisions, and semiconductors which are used in a variety of electronic equipment. 'The UK subsidiary buys the components in from the Japanese company and then we sell to and support customers throughout Europe,' explains Sally. 'My main duties include preparing management accounts for profit and loss, and balance sheets for management to base their decisions on. I also do some forecasting and budgeting, and manage the day-to-day running of the small finance department. At audit time, I prepare information for the auditors.' 
 
In common with many ACCA students, Sally found working while studying to be hard work. 'However, I did find that my work helped me in my exams, and vice versa, particularly the audit and financial reporting papers, which helped me when dealing with our auditors,' admits Sally.
 
As well as getting the highest aggregate marks in her Professional level exams, Sally also opted to do the Oxford Brookes University BSc degree. 'Because I hadn’t finished university, being able to get a degree by doing the Research and Analysis Project was an excellent opportunity for me,' explains Sally, who achieved first class honours.
 
Now an ACCA member, Sally has a lot more confidence. 'People respect your professional abilities once you are an ACCA member.' For the future, Sally is open-minded. 'I want to work hard and to the best of my abilities in whatever I do, and take opportunities as they present themselves.'

SILVER MEDAL WINNER

Steve Ashcroft, UK, 399 marks

Silver medal winner Steve Ashcroft was amazed when he found out he had won an ACCA medal. 'Passing the exams was good enough for me,' he admits, 'but finding out that I had won the silver medal was a big boost after all the hard work I had put in.'
 
As well as winning the silver medal for his aggregate exam marks in the Professional level papers, Steve also won the individual paper prize for Paper P3, Business Analysis.
 
Now firmly on an upward career path at Norwich Union Life in York, UK, Steve didn’t originally plan on working in finance. 'I did a degree in maths at Oxford University, and then went on to start a postgraduate teacher training course,' explains Steve. 'However, I discovered that being a maths teacher wasn’t something I could see myself doing for very long and decided to look at other career choices.'
 
After spending nine months in an actuarial firm, Steve also decided that becoming an actuary wasn't for him and so decided to embark on a career in finance.
 
Coming from York, Steve was well aware of the pre-eminent position that Norwich Union Life, the largest provider of life, pensions and long-term financial services in the UK, had as a good local employer. 'I started to work for Norwich Union as a finance assistant handling reconciliations and other basic accounting tasks,' he explains. 'This gave me a good background in the fundamentals of accounting.'
 
While working as a finance assistant, Steve could see his colleagues progressing their finance careers and realised that he would need to pursue a professional qualification in order to take the next step up the career ladder. 'I started studying for ACCA three years ago, and at the same time became a senior finance adviser,' says Steve. He did all the exam papers with no exemptions, something he admits was beneficial because he gained a good understanding of the basics before embarking on the higher-level papers.
 
Steve works as part of a large finance team that undertakes the accounting for a number of Norwich Union/Royal Bank of Scotland joint venture companies. 'These companies are involved in selling life assurance, and our job is to produce management accounts and annual statutory returns, and Financial Services Authority returns.' 
 
Norwich Union Life provided Steve with an excellent study package. 'As well as paid tuition, exams, and time off for study, they have also supported me in gaining the relevant practical experience required for membership,' he notes. 'My job has been varied and involves some management accounting as well as financial accounting so I’ve been able to achieve my performance objectives and get them signed off by my workplace mentor. Now all I need to do is apply online for membership and then I will be qualified,' he says.
 
Steve attended tuition at Kaplan Financial and found that they helped him to develop good exam technique. 'As well as focusing on the key areas, the lecturers also showed us how to plan and present our answers so that we didn’t get stressed in exams. Memorising certain things and developing an ability to structure my answers kept me on the right track,' he admits.
 
When studying, Steve didn’t follow a strict timetable, opting instead to do as much as he could. 'I tended to work for an hour or so after work each night, but made sure I had at least one night off a week with no study,' he explains. 
 
'The technique I adopted was to make pages of notes full of essential terms and information for each paper I was taking. I made up my own mnemonics to memorise key lists. I made sure I knew these and when it came to the exam I felt much more confident in finding my way around the paper.'
 
Steve can see himself staying at Norwich Union Life for a long time. 'The people and atmosphere are great,' he says. 'In addition, Norwich Union is such a large and diverse company that I have lots of opportunity for career development. Although I am interested in staying in the financial reporting area, other areas of the business - such as investment reporting or change teams - would let me look at different aspects of business. I am looking forward to thinking about my career development now that the exams are over.'

BRONZE MEDAL WINNER

Harsheel Shah, Tanzania, 394 marks

Bronze medal winner Harsheel Shah had aspired to be a medal winner from the time he joined ACCA. 'Being a medal winner is an exemplary achievement, and one that I am very proud of. Being among the ACCA elite is a great privilege; I believe an ACCA medal will boost my career by clearly distinguishing me from my peers.'
 
Harsheel returned to Tanzania after achieving a first class honours degree in economics and accountancy at City University in London, UK. 'I returned to Tanzania - an economy on the verge of being an 'African Tiger' - to give me a chance to lead a more natural life in an unpolluted environment, largely free from the stress that seems to exist in the western world,' he says. On his return to Dar-es-Salaam, he began work at PricewaterhouseCoopers (PwC) and is currently an audit senior.
 
Pursuing a career in accounting was an obvious choice for Harsheel. 'Accountancy strikes the right balance between theoretical and practical knowledge. As an accountant the knowledge and the overall 'big picture' of a business you get by virtue of your position is unrivalled. If you can combine that with an instinct for entrepreneurship, strong leadership, and communication skills, there is nothing that can stop you from rising to the very top of the organisational hierarchy,' he says.
 
Choosing ACCA was also important for Harsheel. 'ACCA is one of the most portable qualifications in the world. Having the coveted letAters after my name should open a world of opportunities for me. It instantly demands respect from whomever I meet, and opens doors that would have otherwise been inaccessible.'
 
As an audit senior at PwC Tanzania, Harsheel is responsible for leading audit teams in the field, working on high risk, complex areas, and project management. 'Above all, I have to ensure that my team is able to efficiently gather sufficient and appropriate audit evidence in order for our firm to opine on the truth and fairness of a client’s financial statements,' explains Harsheel.
 
PwC Tanzania supported Harsheel throughout his ACCA studies. 'As well as paying for my tuition at Financial Training Centre, Dar-es-Salaam, they also gave me study leave, even during busy work periods,' says Harsheel. 
 
'PwC Tanzania is a Gold Approved Employer, so I’m working towards getting the practical experience required for membership with the help, advice, and support of my manager. I hope to become an ACCA member by August 2008 when I will have completed the required three-years’ practical experience.' 
 
As well as a great deal of support from his employer, Harsheel’s family gave him complete freedom to plan his time and provided him with vital moral support. 'My achievement would not have been possible without their support,' admits Harsheel.

Harsheel found that juggling studies, work, and social commitments was a struggle. 'I won the individual prize for Paper 3.1, Audit and Assurance Services in June 2007, so there was tremendous pressure on me to meet expectations in the December 2007 exam session, especially with the change in syllabus. It was clear to me that I could not rest on my laurels and had to really work hard towards a bigger achievement,' says Harsheel.
 
His determination did pay off and he got the highest marks in Paper P2, Corporate Reporting as well as the third highest aggregate marks for the Professional level exams, winning himself the bronze medal.
 
As a previous paper winner and now a paper winner and medallist, what are Harsheel's tips for exam success? 'Do not take exams for granted. Be well prepared by thoroughly working through past exam papers and being conversant with articles published in student accountant,' he says. 'There is no substitute for hard work - but there are ways to maximise exam effectiveness. I created four-page summaries for each paper that included the key theories, formulae, and answers to frequently asked questions in exams. I also produced mnemonics for each theory, and revised them repeatedly, so that I could recall them instantly.' 
 
'An accounting qualification is a necessity for finance professionals in the world today. It will give people around me confidence in my abilities and my commitment to succeed,' says Harsheel. 'Once I become an ACCA member, I will move on to the fast track to a top level executive job, which will include taking on more responsibilities and challenges.'

PREVIOUS PRIZE CRITERIA

The prizewinner criteria changed with the first ACCA Qualification exams in December 2008. Based on the previous prize criteria, Simon Malkin and Andra Henson scored the highest aggregate marks in Papers P1 to P3.

Simon Malkin, UK, 235 marks

Simon Malkin received the highest aggregate mark of 235 in Papers P1 to P3 in the December 2007 exam session.

Simon became interested in accountancy after becoming an associate of the Chartered Institute of Secretaries and Administrators. 'I am a science graduate and consider myself to be fairly numerate,' says Simon. 'I became interested in pursuing a professionally recognised accountancy qualification after I gained my other professional business qualification.'

As a self studier, Simon had to overcome a number of challenges, not least finding the time to study in between a full-time job as business manager at Oswestry School in Shropshire, UK, and spending time with his wife and two small children. 'Finding the time and motivation to study has sometimes not been easy. In this respect, thanks are due to my family who supported me through this and gave me time to study in peace and quiet,' says Simon.

However, although it was sometimes a struggle, Simon found the challenge of a broad syllabus very appealing. 'Having to study such a wide range of subjects and materials kept my interest levels high,' he says.

'For those who are just starting out as trainee accountants, it is important to realise that accountancy is an integral part of business life,' says Simon. 'If you are considering a career in accountancy, you need to be interested in how businesses work at an operational and strategic level,’ he says. ‘In addition you need to be aware of the commitment you are taking on in terms of the amount of study time required to pass the exams.'

Although his job doesn’t require him to be a qualified accountant, Simon believes that having the ACCA Qualification will earn him greater recognition among his colleagues and in the wider business community in which he operates. 'In the future, I would like to have more of a representational role, perhaps working with a professional organisation like ACCA, to develop accountancy and other professions so that they better reflect the changing social conditions in which we work.'

Andra Henson, UK, 233 marks

Andra Henson received the second highest aggregate mark of 233 in Papers P1 to P3 in the December 2007 exam session.

Andra realised that a career in accountancy appealed because of her enjoyment of maths. 'Accountancy was an obvious choice for me,' she says.

Now based in Southampton, UK, Andra moved from Romania in 2003. 'I have a degree in accountancy, the equivalent of a BSc, from the Academy of Economic Studies in Bucharest,' she explains. 'I chose ACCA when I came to the UK because, as a professional body, ACCA is at the forefront of the accountancy field, and its qualifications are internationally recognised.'

Andra worked for Tenon and Moore Stephens (South) LLP during her ACCA studies, and attended BPP for her tuition. 'Both my employers were very supportive. They paid for my tuition courses and gave me study leave to prepare for the exams,' says Andra. After completing her exams, Andra left Tenon and received a number of job offers, but decided to wait a few months before deciding on her next career move.

Along with many other students who work full time, Andra had to find the time to study in addition to a busy job. 'I wanted to qualify as soon as possible which meant taking two or three exams at a time,' she explains. 'Also, English is not my first language, meaning I had to learn not only the syllabus, but also many additional terms that were not familiar to me'.

Achieving the second highest aggregate mark for Papers P1 to P3 was a surprise for Andra. 'It was quite unexpected to be honest, but I am very happy and proud of myself.' For students still to complete their exams, Andra's advice is to keep focused and optimistic. 'It will all be worth it in the end,' she says. 'A thorough understanding of the syllabus prior to the exam is vital,' adds Andra. 'Good preparation, in addition to good time management in the exam and reading the question and requirements very carefully, should help you to pass your exams.'

Andra has just become an ACCA member - so what next for Andra after qualifying? 'I consider myself to be very ambitious and focused and I am highly optimistic about my future career prospects. Ultimately, I would like to be a CFO of a large organisation.'

INDIVIDUAL PAPER WINNERS

Paper F4

Joint winners were Katrina Hannah and Ayesha Jabeen from the UK with marks of 94. Katrina is an operational assurance specialist at Barclays Wealth in London, and Ayesha is a full-time student at Kaplan Financial, also in London.

Paper F5

Mitesh Thanki from the UK and Alexey Rusanov from Russia were joint winners with marks of 86. Mitesh is a management accountant at Avery Weigh-Tronix in Smethick, and Alexey is an audit consultant at PricewaterhouseCoopers in Moscow.

Paper F6

Eelin Choo from the UK with marks of 98. Eelin is a duty supervisor at China Eastern Airlines in London.

Paper F7

Joint winners were Martin Hargreaves from the UK, Soo Tatt Hoong from Malaysia, and Cassie Blondel from Guernsey with marks of 93. Martin is a trainee client manager at Beaumonts Chartered Accountants in Wakefield, Soo Tatt Hoong is a full-time student at Sunway University College in Selangor, and Cassie is a trainee accountant at BDO Novus Ltd in Guernsey.

Paper F8

Lee Pei Lu from Malaysia with 96 marks. Lee Pei Lu is an audit associate at PricewaterhouseCoopers Malaysia in Kuala Lumpur.

Paper F9

Andrew Hacquoil from Jersey with 94 marks. Andrew is a trainee accountant working for the States of Jersey.

Paper P1

Kathryn Saunders from the UK with 93 marks. Kathryn is a senior financial analyst at Legal & General in Cardiff.

Paper P2

Harsheel Shah from Tanzania with 86 marks. Harsheel also won the bronze medal for the December 2007 session.

Paper P3

Steve Ashcroft from the UK with 91 marks. Steve also won the silver medal for the December 2007 session.

Paper P4

Maria Kozarova from Ireland with 80 marks. Maria is a senior accountant in the financial control division of CitiGroup Ireland in Dublin.

Paper P5

Sheranka Madanayake from Sri Lanka with 93 marks. Sheranka is a legal executive at Serendib Ventures in Colombo.

Paper P6

Sarah Howarth from the UK with 84 marks. Sarah is a senior audit officer at South Gloucestershire Council in Bristol.

Paper P7

Dorothea Mevissen from Luxembourg with 82 marks. Dorothea is an audit senior at KPMG Luxembourg.

CAT PRIZEWINNERS

The three top-scoring CAT students for the Advanced level papers following the December 2007 exam session are all from Malaysia – all taught at Sunway University College. Thebendra Manogaran, Haider Bin Hashmuddin, and Susan Lee achieved 459, 457, and 452 marks respectively.

First place

Thebendra Manogaran decided on a career in accountancy after his father persuaded him to look at the many possibilities open to accountants. 'He always cited examples of the successful corporate figures who are also accountants, and this inspired me to sign up for the CAT qualification at Sunway,' explains Thebendra.

Starting at Sunway at the age of 18 was an exciting time for Thebendra, not least because of the stimulating environment of campus life. 'I am looking forward to continuing with my ACCA studies at Sunway. The lecturers are very supportive and helped me greatly,’ he says.

Thebendra’s key pieces of advice to achieve high marks in the exams are simple: hard work, revision, and practice. ‘Also, the help and encouragement from parents and lecturers also helps you to achieve your full potential,' he says.

In 10-years' time Thebendra hopes he will be a top notch accountant in a large listed company. 'With CAT, and the ACCA Qualification under my belt in the next few years, I will have a bright future ahead of me.'

Second place

Haider Bin Hashmuddin followed his passion for numbers to start studying accounting. 'I knew I could go far in today's business world if I followed a career in accountancy,' he says.

Choosing to study for an ACCA qualification was an easy choice for Haider. 'ACCA is recognised worldwide for having a thorough business scope. After CAT, I went straight on to the ACCA Qualification. And once I become an ACCA member I hope I will be highly valued and sought after in the business world,' he says. 'I am confident that when I pass my ACCA Qualification, I will become an ethical professional with sound business knowledge, ready to face the needs of the working world and to excel in business.'

Like the other CAT prizewinners, Haider studied at Sunway College. 'My lecturers made studying CAT straightforward by giving clear guidance and assistance in all subjects,' he says. Although, he admits, that the audit paper was a major challenge because he didn’t have any experience in the field.

Completing the CAT qualification enabled Haider to learn the basics of accounting and become prepared for the ACCA Qualification. 'I also realised that accountancy is not merely about crunching numbers,' he adds.

Haider's advice to other CAT students is simply to work hard. 'I hope that I can put my knowledge into practice and eventually become a senior manager and gain a mature perspective of accountancy.'

Third place

Susan Lee decided to pursue a career in accountancy because it would help her become well versed in the business and finance sectors. 'Accountancy also offers versatility because any knowledge and experience gained in this field can be applied across a range of industries,' she says.

Susan chose to start with the CAT qualification because of the comprehensive and challenging syllabus. 'You have to continually develop your knowledge and technical skills in order to fully grasp the CAT syllabus and meet its requirements,' explains Susan.

For other students still to take their exams, Susan's advice includes understanding the syllabus thoroughly, doing constant revision, and familiarising yourself with exam questions and conditions as much as you can.

'I was fortunate to have really dedicated lecturers at Sunway, who did their best to ensure we were well grounded in the syllabus and who constantly motivated us to persevere and to realise our full potential.'

Susan found applying theoretical knowledge to the practical scenarios given in the exam questions and coming up with a good answer within the time limit to be quite a challenge. 'However, my lecturers helped us prepare by showing the class how to approach such scenarios from different perspectives and relating areas of the syllabus to actual situations,' explains Susan.

Achieving the third highest aggregate marks for the CAT Advanced level exams was a pleasant surprise for Susan. 'It also motivates me to work harder for my ACCA Qualification studies,' admits Susan. 'As well as my lecturers, I'm also thankful to my family for their encouragement, and to my classmates, for disproving the notion that studying can’t be enjoyable.'

Susan would have no qualms about recommending the CAT qualification to others. 'It's both interesting and demanding,' says Susan. 'I believe that it has provided me with a solid technical foundation on which I can build and improve on when I start to gain practical experience.'

Having just started her ACCA Qualification studies, Susan is well on her way to a fulfilling career in accountancy. 'In 10-years' time I would like to be in a senior position in the advisory arm of a leading accountancy firm. Then again, given the myriad opportunities offered by the ACCA Qualification, I'm keeping my options open.'