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Practice every day keeps resits away
Meet Daniel Powley, the ACCA who achieved the joint highest grade worldwide for his P2 Corporate Reporting paper
Why accountancy and why ACCA? I had two weeks of work experience in an accountancy firm after finishing my GCSEs. I thoroughly enjoyed the day-to-day variety and the opportunity to work individually while being part of a team. The ACCA qualification was the preferred one by my employer, but I also know other people who have gone through the qualification, so I knew I would be able to benefit from their experience.
How did you celebrate passing all your ACCA exams? I had a holiday to America planned starting at the end of the week of results being released, and knowing I wouldn’t be returning to more exams made it all the sweeter!
You were a prizewinner at P2 and P6. Did you know you had done well? I felt I had probably done enough to pass P2 and I was happy with how P6 had gone, but I did not realise quite how well they went until I got my results.
What advice can you give P6 students struggling to pass the advanced taxation paper? For P6, as with many of the professional level exams, time management is one of the key issues. It’s easy to get bogged down with the compulsory question at the beginning as it’s often the hardest question on the paper. Reading through the whole paper first and tackling your best question first should settle the nerves and get you off to a good start.
Any other tips for passing the ACCA exams? Try to study a little bit every day. Working full time can make this difficult, but just 45 minutes to an hour each evening really adds up over the course of a couple of months. Weekends are important, too. Continue to do things you enjoy as well as studying hard, but when you have passed those exams you will have all the time you want for other things.
Tell us a bit more about your role at Perrys Chartered Accountants in Tunbridge Wells.
I am the assistant manager. My role varies from the preparation of company accounts and personal tax returns to requesting clients’ records and assisting junior members of staff to learn the ropes. Occasionally I get involved in audits, including going out on site, and even bookkeeping assignments.
Where do you see yourself in five years’ time?
I still see myself at Perrys, perhaps in a slightly more senior role. I really enjoy my job and the people I work with so I don’t want too much to change.
If there was one tax you could change what would it be and why? National Insurance. I believe the tax system would be simplified by combining NI with income tax.
What’s the best piece of advice you have ever had? ‘Mathematics is not a spectator sport.’ One of my university lecturers said this to impress upon us the importance of getting stuck in and practising questions to properly learn the subject. I think is true of accountancy, too.
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