Level 4 complete, what next?? Is it extremely hard? What's it like/about?

kelbel8888

Hi

Iv just completed my AAT level 4 ( just waiting on one result, but feel good about it) and now have come to the what next phase.

I have researched ACCA more than the ACA as I purely can't seem to find much about ACA locally, nearest study place I find is London? Where as ACCA iv found in Cambridge. Travelling to London to study is not really an option for me.

I don't know a huge deal about either, but do want to continue.

My question is firstly, is it really that hard? I know it will require hard work, but its it a huge step up from AAT? Iv so far passed all my exams first time in AAT, but I don't consider myself to be very academic. I only have GCSE's which I had to complete level 2 maths again before joining aat as I had GCSE result of D.. So I'm mainly concerned if I would be able to manage going on or am I kidding myself.

Iv worked in practice for a year now, but come from no accounting experience atal. I also have a younge child, so home life sometimes gets a bit crazy!

Iv seen the online classroom and self study program's, but I was swaying towards classroom study as I thought that may benefit me a bit more.

I feel at a cross road at the minute, with my work just saying its my choice. I don't want to turn down an amazing opportunity, but I also don't want to set myself up for a fall.

How long do both take to complete, is their much difference. I understand about the exam cycles, and feel perhaps 2 at a time would be a reasonable amount. Also I. Completely daunted by the idea of the exams, as all my AAT were computer ones.

Any help, advice would b greatly appreciated. Thank you and sorry about the essay!!

Nps

ACCA v ACA In a nutshell, you need to be with an approved employer to do ACA (the practical experience) whereas most people can start ACCA, hence you will find more people doing ACCA and therefore more info (in general).

I can only tell you about ACCA but it is very different to AAT. Personally I think one module of ACCA is broadly the same as one whole AAT level in terms of quantity, and of course it is a big jump up in difficulty. I self study so of course will find it harder than someone doing classroom lessons though. I have to be honest, and I think anyone who has found AAT difficult will really struggle with ACCA (though of course, I'm not saying they couldn't do it, but it wouldn't help anyone to automatically say that they'd be fine with ACCA).

I have an opinion about the exemptions which I know many disagree with. In order to get a feel for the size of each ACCA exam, I would suggest you don't claim the exemptions and take F1-3. Yes, the vast majority is covered in AAT, but I think it is really useful to consolidate that knowledge into 3 large exams and ease yourself into the later exams (F1-3 can be either sat by CBE or by paper in June and Dec). I think your F1-3 marks then also give you an indication of how difficult you will find the rest of ACCA (though of course the exams get much harder).

There is a lot of maths in ACCA, but not really much that a calculator won't deal with (though I still have 7 exams to go so can only comment on the 7 I've done).

Timescales - you need 3 yrs experience for ACCA and ACA so no difference in timescales. You may struggle with 2 exams per sitting though (eg. I did 3 this time but was on maternity leave, not sure I could do that with a full time job. I'm doing 2 in December, but only because I've been able to get a head start before I go back to work). But I'm also the type of person who is only happy if I've studied every single bit of the syllabus so some may say I spend too long on each exam.

Depending on what you found easiest in AAT, why not get the text book for the linked ACCA module to get a feel for the difference in level? Only you know what you think you can achieve.

A lot of people also look at ATT after AAT, if they like the tax side of things, and some even say it is perhaps more useful than ACCA if you work in practice.

There is also the option of doing the intermediate ACCA qualifications, so even if someone starts but doesn't finish, it's not necessarily a waste, eg. Passing F1-3 gets you an ACCA Diploma in Business and Finance, F4-F9, an ACCA advanced diploma.

Feel free to ask anything else.

Jo Clark

Excellent reply as always from NPS!

If you are at all interested in ATT do ask questions as there are quite a few of us on here studying for ATT and there is a separate group on this forum where we discuss exams/e-Assessments etc.

Good luck in making your decision.

stephleedz

Hi,

I have come from a similar background to you, I qualified MAAT last August and started to study ACCA, I also passed all but 1 exam first time at AAT and got a D in maths at GCSE level then re sat this exam to get a C. I work full time but have no children (29 yrs in 2 months). I also had zero knowledge of actual accounting until I started my job now in December last year as a Assistant Financial Accountant.

Yes there is a lot of work todo but as long as you knuckle down, keep up with the homework and reading etc there is absolutely no reason why you can't do this!! I am also exempt from F1-3 and personally wouldn't so them because you have already learnt what is required from your AAT exams....if you weren't capable you wouldn't have passed them! My last exam at AAT was Financial Statements, so I started with Financial Reporting at ACCA, I also liked Tax during AAT so sat Tax at the same time (2 exams in 1 sitting). Yes at AAT you will be used to doing module exam, module exam so learning how to split your time between 2 subjects you may find daunting at first but trust me if you put the effort in like you did at AAT you can totally do this!!

If you have any other questions for me (as we coming from a similar background) feel free to message me!

Good luck in the future I wish you all the best!

Steph

GO FOR IT!!!

Nps

On the subject of exemptions, there are lots of differing views. The F1-3 exams do actually cover a little bit more than AAT (not much granted in F2 and 3, but there is a bit extra. F1 in particular is barely covered in AAT but the knowledge is very useful later on). I think the value of doing them comes from having to condense all that knowledge into bigger exams and seeing the bigger picture and how it can all link in, rather than only doing bite sized bits of it as in AAT. I imagine AAT to F4-9 would be a big culture shock to someone who is not prepared and I think F1-3 bridges that gap a little and can give a confidence boost. If someone is going to struggle at F4-9, doing F1-3 will indicate this early on and may save a lot of wasted time and money. You have to pay full price for exemptions so it costs nothing extra to sit the exams. If anyone is unsure of whether they are capable of doing ACCA, surely it is better to find out at F1-3 level rather than later on when you've paid for your exemptions anyway, plus the exam/books you are struggling with.

I also often read forums where people are saying that they wish they'd not taken the exemptions as they've ended up going back to them anyway as the later papers depend on that knowledge. Also doing F1-3 gets you your first ACCA diploma so a qualification in their own right.

I sat F1-3 even though I didn't need to, I've not regretted that decision once and still think it was useful to do.