“Embracing the Setback: Turning Failure into Triumph”

All my life, I never really considered myself to be hard-working. A personal observation of mine has led me to be aware of my carefree mindset. Even with academics, I did not really care too much about grades. I never thought about the concept of FAILURE or SUCCESS on a deeper level. It was that situation until one of my friends asked me, “Nakasuway nakag ka-fail yot?” (Have you ever experienced failure?), and I remember not giving her an exact answer. I was left pondering over her question because I honestly do not know what to say. Despite experiencing setbacks in the past, I did not consider them as failures.

I brought the same carefree mindset with me when I entered in college, taking up Bachelor of Science in Accountancy. I remember one time when my friends had to call me while I was playing DOTA in an internet cafe right across school to inform me that a major exam was happening that day. Even with that viewpoint, I managed to perform well in school. With the satisfactory results that I constantly received all throughout the duration of college; friends started rooting for me to top the CPALE. Although sometimes I may have made it appear to them as if I did not care one bit, the praises have gradually placed pressure on me to top the exam. I honestly thought at that time that I could do it and that if I at least change some habits, I could top the board. Sadly, I FAILED. Although I passed the CPA board exams, I was not able to achieve what I hoped and worked for. As arrogant and ungrateful as it may sound to others, but I treated it at that time to be my failure. Instead of rejoicing with my family for passing the hardest board exam in the country, I stared straight at the screen and shed a tear of disappointment. For a moment I felt tiny and defeated.

After a couple of days, I tried to think for my next move. I thought I shouldn’t just sit around, be miserable and think about my CMA exam. I was presented with the option of taking Part 2 in October 2023 and Part 1 in January 2024, but I respectfully declined. I wanted to take both parts in October thinking I could try my luck in and get an award. Ultimately, I took a leap of faith, decided to take both parts at the end of October 2023.

Taking both parts by the end of October meant I only had a brief two-week study period. It is safe to say that I crammed hard. Due to the lack of time and desire to finish the coverage, I took Part 1 with zero sleep. Needless to say, it was exceptionally hard, and to cut the story short, I SUCCEEDED! I got the Priscilla S. Payne Outstanding Student Performance Award for attaining the highest average exam score.

If my friend asked me the same question, I can look her in the eyes and tell her my story of failure. I will confidently share that I embraced that failure and completely turned things around. The greatest takeaway from this CMA journey is that God has better plans in store for us. We should embrace each experience, knowing that they are part of a greater journey orchestrated by a loving and wise Creator.

About the author:

John Davis Baguio is a full-fledged Certified Public Accountant and a recipient of the Priscilla S. Payne Outstanding Student Performance Award for attaining the highest average exam score globally in the Sept-October 2023 Exam Window of the US CMA examination. Davis graduated Magna Cum Laude at the University of San Carlos with a degree of Bachelor of Science in Accountancy.

“First of Many”

Where do you see yourself in 10 years? When I was young, I never saw myself doing anything in the future. I often change my answer when asked about my dream job. Not once did I think of being an accountant. I chose practicality because I was indecisive about what program to take. I enrolled in the Accountancy program of the University of San Carlos. However, I failed the qualifying examinations. With this redirection, I paused, grieved, and picked myself up to explore other options. I could transfer to a different school and continue the program or shift to a different one. Then I found out about the Certified Management Accountant examination from the Facebook page of Insights Financial Review Services Inc. With the nearing start of the school year, I decided to stay in the same University and shift to the Management Accounting (BSMA) program. It was not easy. I faced the discrimination of being a Management Accounting student.

One of the Insights professors mentioned that no medalists were from the BSMA program. He motivated us that we are not “just” Management Accounting students. For the first time, I received validation from someone of authority who is both a CPA and a CMA. The different professors built my confidence, motivating us that I can do more and achieve more. With this, I strived hard and aimed higher. Little did I know that waiting for me was the Student Certificate of Distinguished Performance. I achieved my goal, I brought pride to the BSMA program, and I was able to prove them wrong. I am not “just” a BSMA graduate; I am a BSMA graduate and I am proud of it.

It was attainable with the study materials from Insights, which made reviewing more convenient. The option to know the reason why an answer is wrong for every question helped me understand the concepts more deeply. I would also like to extend my gratitude to the Insights team for their assistance. I was very close to taking the exam on two testing windows because of the tight availability of the slots. I would have been disqualified from receiving the award if it happened. More importantly, this was made possible by the professors from Insights, who went out of their way to motivate us, on top of their dedication to teaching the students. Knowing that someone believes in you does wonders. Glory to God!

About the Author:

Jocelyn Faith Sumbi graduated Magna Cum Laude with a Bachelor of Science in Management Accounting from the University of San Carlos. In September/October 2023, she successfully completed the Certified Management Accountant examination administered by the Institute of Management Accountants, earning the Student Certificate of Distinguished Performance Award for achieving the second highest exam score worldwide. As the first among her peers to receive this honor, Jocelyn exemplifies the exceptional capabilities of BSMA graduates, dispelling any notion that they are merely “only BSMAs.”