ACCA after aat
monkeypuzzle47
Registered Posts: 134 Dedicated contributor 🦉
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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ACCA Rule bookmonkeypuzzle47 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.
Regards0 -
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Poodle0 -
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.0 -
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?0 -
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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...0 -
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.0 -
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:0 -
Does anybody know if this is the same with CIMA? I can't find anything on their website. Thanks.0
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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.0 -
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!0
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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!!0
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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
Dean0
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