ACCA after aat

monkeypuzzle47
monkeypuzzle47 Registered Posts: 134 Dedicated contributor 🦉
in General accounting discussion
i have been told that if you are an mip, you are not able to become an acca student as acca students are not permitted to engage in public practice does anyone know if this is true.

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  • Nilesh Mandvia
    Nilesh Mandvia Registered Posts: 91 Regular contributor ⭐
    ACCA Rule book
    monkeypuzzle47 wrote: »
    you are not able to become an acca student as acca students are not permitted to engage in public practice

    As per ACCA's rule book you can not practice as an accountant and offer your servieces to the public.

    You can offer bookkeeping, vat and payroll. No tax work, management account, budget, cash flow or advisory work. You can not prepared cashflow or accounts which upon external entity relies upon and make decision.

    Here is a link to acca's website.

    http://www.accaglobal.com/documents/pc_requirements.pdf

    There is lot of information on acca's website.

    Regards
  • Poodle
    Poodle Registered Posts: 711 Epic contributor 🐘
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  • monkeypuzzle47
    monkeypuzzle47 Registered Posts: 134 Dedicated contributor 🦉
    i didnt know this, and i am now a member in practice - and was preparing to take acca exams in december, I have studied loads and i just want to cry now. but thanks for the advice.
    anyone else having the same problem.
  • PGM
    PGM Registered Posts: 1,954 Beyond epic contributor 🧙‍♂️
    Nilesh Mandvia wrote: »
    As per ACCA's rule book you can not practice as an accountant and offer your servieces to the public.

    Regards

    Had a quick look at the link, isn't it just a case of getting the practising certificate?
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
    PGM wrote: »
    Had a quick look at the link, isn't it just a case of getting the practising certificate?

    Yes but easier said than done - it's 3 years in a ACCA recognised practice (of which 2 years must be post qualification) during which you can't do any unauthorised work.
  • PGM
    PGM Registered Posts: 1,954 Beyond epic contributor 🧙‍♂️
    Bluewednesday wrote: »
    Yes but easier said than done - it's 3 years in a ACCA recognised practice (of which 2 years must be post qualification) during which you can't do any unauthorised work.

    Ah right.. I didn't know this. Already decided to go down the ACCA route, I'll have to read up some more. Is it different from other accountancy bodies?

    Not quite got my head round it yet, so you can't do any tax work etc? I thought we could do that now...
  • sntowell
    sntowell Registered Posts: 13 New contributor 🐸
    I had the same difficulties, if you are registered and have a practising certificate with the AAT you still need one for the ACCA as well, and the rules for the ACCA means that once you have passed your exams and become a member you still need two years post qualification experience before you can get your practising certificate from them and you are not allowed to do public practice work.

    I thought it would be easy as I had an AAT certificate proving competence but had to complete quite a lot of forms in order to obtain a ACCA one as well. Got there eventually with it but it did take some time.
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
    PGM wrote: »
    Ah right.. I didn't know this. Already decided to go down the ACCA route, I'll have to read up some more. Is it different from other accountancy bodies?

    Not quite got my head round it yet, so you can't do any tax work etc? I thought we could do that now...

    You can under AAT if you are a MiP but as soon as you become a student member of ACCA you have to abide by their rules i.e. nothing past TB. :thumbdown:
  • kazzymac
    kazzymac Registered Posts: 10 New contributor 🐸
    Does anybody know if this is the same with CIMA? I can't find anything on their website. Thanks.
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
    I think CIMA is more lenient but I'd phone them to make sure.
    Being self employed before I even became a MAAT I knew chartered was never an option for me, so haven't looked into it so much.
  • kazzymac
    kazzymac Registered Posts: 10 New contributor 🐸
    Thanks. I have just called CIMA who say that there are no restrictions on becoming a CIMA student whilst being self employed. However after the completion of exams you need three years experience to fully qualify. As you would not have a line manager/boss who could verify your work you would need to obtain verification from clients/bank manager/external auditor. You can count the years being self employed as part of your practice experience. I hope that helps!
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
    Thanks Kazzy thats good to know. Too bad I hate management accounts as that looks like the only chartered one I could go on and do!! :lol::lol::lol:
  • Dean
    Dean Registered Posts: 646 Epic contributor 🐘
    kazzymac wrote: »
    Thanks. I have just called CIMA who say that there are no restrictions on becoming a CIMA student whilst being self employed. However after the completion of exams you need three years experience to fully qualify. As you would not have a line manager/boss who could verify your work you would need to obtain verification from clients/bank manager/external auditor. You can count the years being self employed as part of your practice experience. I hope that helps!

    This is probably like all chartered bodies - self-employment in their eyes means nothing beyond Trial Balance.

    NeilH is the chap to ask.

    Regards

    Dean

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