ACCA after Level 3?

Stuart Harper

Hey guys,

I'm being influenced to start with the ACCA as soon as pos. I skipped Level 2 through a competency test and I have two exams left at level 3 and I have found it fairly easy so far.
What I'm looking for is any info or advice you guys have on the idea of ACCA straight after 3; is it a faster route, is it more cost effective, will I receive any exemptions, will it improve my employability?

Thanks in advance

Stuart

CeeJaySix

Well most graduates on practice training schemes go straight into ACA or ACCA with no background knowledge, but then they have the background support of working for a firm. But it's obviously possible.

If that's the route you're planning on going anyway, the only drawback will be how much of an impact not having the base knowledge provided by AAT has on your studies (which I couldn't comment on). But yes it would more than likely be faster and cheaper as you're doing less study, less exams and less qualifications. And as it's a higher level qualification it would certainly make you more employable in that respect, although as most professional qualifications are done whilst working in the industry (ACA requires work-place evidence as well as exams, does ACCA not?) you might be the odd one out with the qualification but not the experience in practice. Just my experience from my own job-hunting, may very well be different in different areas.

Jo Clark

Stuart Harper wrote: »

Hey guys,

I'm being influenced to start with the ACCA as soon as pos. I skipped Level 2 through a competency test and I have two exams left at level 3 and I have found it fairly easy so far.
What I'm looking for is any info or advice you guys have on the idea of ACCA straight after 3; is it a faster route, is it more cost effective, will I receive any exemptions, will it improve my employability?

Thanks in advance

Stuart

Hello Stuart

Who is influencing you? You won't receive any exemptions for ACCA unless you complete Level 4 AAT which then gives you exemption from papers F1, F2 and F3.

With regards to improving your employability, it is a tough market and there are lots of people training to be accountants. Is there a particular areas which you would be wishing to focus on?

Good luck with your decision making.


JC

Rozzi Rainbow

As Jo has said, Level 4 AAT will give you exemptions to F1-3. So you're looking at making a choice between AAT L4 or ACCA F1-3. I completed AAT L4 in one year, I would presume ACCA F1-3 could be completed in this time, but how much quicker to give you any time advantage I wouldn't be sure about, there's probably not much in it.

At least by completing the AAT first you can then say you have a professional accountancy qualification, if you have enough work experience to become MAAT. ACCA is a long slog, and if you don't make it to the end, you won't have any complete qualifications at all. At least AAT is something to fall back on.

What modules are you thinking of studying for AAT L4? Some of these will put you in good stead for the later ACCA F papers. I'm not sure exactly what is covered in F1-3 but I found the AAT lead on nicely to F5 (Costing), F6 (Tax) and F7 (Financial accounting). If you choose the audit option at AAT (I didn't) it may help you with F8.

CeeJaySix

To add to my previous post, depending on when you're looking to gain employment in the industry and what your current level of experience/employment history is, every employer I interviewed with wanted me to complete AAT (at their expense) before starting ACA/ACCA. The only trainees they took direct to higher professional quals were on the grad training schemes. So unless you're planning on completing ACCA in entirety before entering the industry, AAT seems to be a pre-requisite for a lot of firms.