ACCA Exemptions
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jenny3549
Registered Posts: 464 Dedicated contributor 🦉
Hi All,
Apologies if this is a commonly asked question but I've done a search and can't really find an answer.
I just have ICAS left for AAT and would like to continue on to ACCA. I am aware that I would be exempt from the first three exams but am a bit worried about the deadline for claiming exemptions.
ACCA website (which is not user friendly!!!!) says that the deadline is 31st July for December exams. Does anyone know if that is a 'hard and fast' date as I am not sure that I will definitely have the project done, marked and the certificate through by then.
I've seen a few other threads where people mention applying in August but that was a previous year so don't know if the deadline was a different date then.
Any ideas most gratefully received.
Jenny
Apologies if this is a commonly asked question but I've done a search and can't really find an answer.
I just have ICAS left for AAT and would like to continue on to ACCA. I am aware that I would be exempt from the first three exams but am a bit worried about the deadline for claiming exemptions.
ACCA website (which is not user friendly!!!!) says that the deadline is 31st July for December exams. Does anyone know if that is a 'hard and fast' date as I am not sure that I will definitely have the project done, marked and the certificate through by then.
I've seen a few other threads where people mention applying in August but that was a previous year so don't know if the deadline was a different date then.
Any ideas most gratefully received.
Jenny
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Comments
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Hi jenny3549,
I and my colleague recently attended a 'Life after AAT' evening at Kaplan Reading (nearest one to me). I like you have 1 module left only mine is FNST due to sit the exam mid july which means my results wont come through until latest 28th August. We were advised to register with ACCA now which you can do online (bear in mind you will need to upload a passport photo, copy of your passport and copies of your Level 2 and Level 3 certificates). It can then take 3-4 weeks for them to authorise your registration (mine took a day or 2 as I had everything in order) at which time you will then have access to MyACCA just like MyAAT. For myself I will need to contact the AAT to advise them they have my permission to inform ACCA or my result for FNST as soon as it is available which will then put the exemptions through. Because I had uploaded my level 2 and level 3 certificates under MyACCA it does say I am exempt from the first 3 exams even though I havent yet taken FNST...not usre why this is but I suppose they have dealt with us lot before and understand so automatically add it on.
Bear in my (which I only recently found out) you have to pay for your exemptions...I KNOW!!! So I think each exem is approx £70-80 at the early stage so your looking at just short of £300 you'll need to pay the ACCA once you have your final result I think. I am lucky in the my employer is paying for this.
Think thats everything. If there is anything else I can help you with I will try to do so x0 -
Thank you so much Steph! I was hoping there would be some way around the 31st July deadline - so it's good to know I can go ahead.
Think I'll do what you have done and register now - if nothing else it will spur me on to make sure I get ICAS finished - well, get started at least!!
I knew about being charged for the exemptions - bit of a swizz if you ask me. I can understand one charge for admin purposes but to charge for three exams which you don't sit is a bit much. Apparently ACCA are not so hot on the value for money side of things.
Thanks again, and good luck with FNST!
Jenny0 -
I was in exactly the same position as you, only the project to finish.
I spoke to someone at ACCA and they relaxed the deadline for me by a week or two.0 -
No problems.
By the way the registration fee is £77 with ACCA...more money!
Thank you I'll no doubt need it.0 -
If it's any consolation, I think all bodies charge the exam fee as exemption fees0
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Really wow that's so cheeky!!
Oh sorry also forgot to mention ACCA will let you sit
1 of the F papers like F4 without having confirmed your exemptions, once your exemptions have been confirmed you have sit between 1-4 exams at any one time (June or December sitting).0 -
I've just dropped 5 * £65 for my knowledge stage exemptions for ACA plus another £198 student subscription fee (and the student fee is payable annually.....) Ouch.
So, I've not sat an exam yet but have parted with over £500. Double Ouch. Factor in the cost of my first classromm based course ( I felt I needed it for the transition to chartered) and all in all I have spent the best part of £1500
*on the floor*
I must admit that sometimes I do worry about the amount of money that investing in my training is costing. It is a pinch trying to drum up the funds (I'm sure plenty of others are in the same boat) and at times I wonder if I am making the right decision. Training is a huge financial commitment and at times it can be a bit overwhelming.
On the plus side, I've just had my mock exam results back and I scored 92.5% and had the highest mark in the class. Not bad for an independent student eh
Now I just need to get a potential employer to look beyond the "Must have so many points at A level to apply for a training contract" which hopefully a strong score in this exam may do....0 -
On the plus side, I've just had my mock exam results back and I scored 92.5% and had the highest mark in the class. Not bad for an independent student eh
Congratulations uknitty - what a fantastic result!
~ An investment in knowledge always pays the best interest ~Benjamin Franklin0 -
I was in exactly the same position as you, only the project to finish.
I spoke to someone at ACCA and they relaxed the deadline for me by a week or two.
Thanks AK, that puts my mind at rest a bit. This project is going to be enough of a nightmare without having to worry incessantly about deadlines at the same time!I've just dropped 5 * £65 for my knowledge stage exemptions for ACA plus another £198 student subscription fee (and the student fee is payable annually.....) Ouch.
So, I've not sat an exam yet but have parted with over £500. Double Ouch. Factor in the cost of my first classromm based course ( I felt I needed it for the transition to chartered) and all in all I have spent the best part of £1500
*on the floor*....
I second your 'ouch', in fact I think you deserve a double 'ouch'. I'm going to attempt the first ACCA paper just by buying the books to see how I get on. If I struggle then I'll have to look into online classroom or distance learning but I'm going to start off by penny pinching. The registration fee and then the exemptions is such a chunk of money before you even start....On the plus side, I've just had my mock exam results back and I scored 92.5% and had the highest mark in the class. Not bad for an independent student eh
Now I just need to get a potential employer to look beyond the "Must have so many points at A level to apply for a training contract" which hopefully a strong score in this exam may do....
Fantastic score - well done you!!!! :thumbup:0 -
I've just dropped 5 * £65 for my knowledge stage exemptions for ACA plus another £198 student subscription fee (and the student fee is payable annually.....) Ouch.
So, I've not sat an exam yet but have parted with over £500. Double Ouch. Factor in the cost of my first classromm based course ( I felt I needed it for the transition to chartered) and all in all I have spent the best part of £1500
*on the floor*
I must admit that sometimes I do worry about the amount of money that investing in my training is costing. It is a pinch trying to drum up the funds (I'm sure plenty of others are in the same boat) and at times I wonder if I am making the right decision. Training is a huge financial commitment and at times it can be a bit overwhelming.
On the plus side, I've just had my mock exam results back and I scored 92.5% and had the highest mark in the class. Not bad for an independent student eh
Now I just need to get a potential employer to look beyond the "Must have so many points at A level to apply for a training contract" which hopefully a strong score in this exam may do....
Which paper are you doing?
Regards
Dean0 -
The AAT/ACA top up for Financial Accounting in June (all booked in) and considering FM for September.0
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The AAT/ACA top up for Financial Accounting in June (all booked in) and considering FM for September.
How are you finding the top-up? Are you just using the later chapters of the SM or are you finding you need to use the whole manual and how long ago did you take the AAT unit?
I'm planning on doing the top-up in December - hence the questions. Before that I've got BS for September.
Regards
Dean0 -
Also I see you were asking the question over on Amazon of Clare Finch about the expected new book. Did you ever get a reply from her?
Regards
Dean0 -
I'm doing classroom based with Kaplan, and using their "crib notes" and yes, the ICAEW Study Manual.
The chapters that are assessed on the top up papers are chapters 10 - 16. Although the study text is the same for FA and FA top up There is a different exam kit for the top up paper.
I sat FNST in August. The top up paper doesn't really have a huge amount of *new* material to cover. I think the only Parts of the top up sylabus that are not familiar from AAT are:
Consolidated SOCIE
Consolidated Cash Flow
Investment in Associates
Mid Year Acquisitions
Disposals
I'm finding the concepts fairly familiar and straightfoward. I think the main challenge (as has been said by pretty much everyone else before me....) is the amount of adjustments that are required to complete the consolidation.and the fact that the exam is only an hour long ! Pretty much every mock exam question I have done has dealt with consolidating at least 3 sets of accounts.
Another thing that came as a bit of a surprise ( but I have adjusted to now...) is that apparently ICAEW examiners like workings to be set out a certain way. No way I would have been aware of that without doing a classroom course. Also the study manual is so huge that without an experienced tutor pointing out the areas to work through and the areas to skim I think I would still be reading come Christmas! I'm glad I made the decision to take a classroom course because I think it will help with my exam technique and confidence.
Finally with regards to the Clare Finch book, the only update I had is the one that was posted on the Amazon webpage. I think it is not likely to be out until much later this year from what I can gather !0 -
Thanks for the insight.
With regard to this:Also the study manual is so huge...
How many pages are there in the study manual?
I'm still debating whether to do the top-up or the full paper. Reason being; when I did the AAT unit it was then, the DFS paper. Can't say I've ever actively studied international standards. Think I will get the manual closer to the time and decide then.
Regards
Dean
p.s. Sorry for the hi-jack Jenny!0 -
p.s. Sorry for the hi-jack Jenny!
No worries at all :biggrin:, it's all interesting even on different qualifications!
Actually, UKnitty's point about the classroom courses directly attention to the most important parts of the texts is very useful. I have used Kaplan's texts to now and will probably use them for ACCA but, even for AAT, I find they do seem to put a huge amount into them and you can easily get sidetracked in areas that a quick skim would be sufficient. So, maybe I need to have a rethink on the value of a taught course.0 -
How many pages are there in the study manual?
Just shy of 600I'm still debating whether to do the top-up or the full paper. Reason being; when I did the AAT unit it was then, the DFS paper. Can't say I've ever actively studied international standards.
In that case you definitely want to do the top up paper and not the full one. IAS's are not examinable (other than the actual mechanics of consolidation) on the top up.
One of the advantages of the top is is you are not required to write about IAS's, you just have to clearly apply them in your workings.
The other thing to consider is that on the top up paper the types of questions that you can be asked are actually quite limited. Chances are you will get either a consolidated Income Statement with a SOCIE or a Statement of Financial Position. It will likely be 3 companies accounts to consolidate (either a parent and 2 subs or a parent, sub and an associate).
I don't mean this as an attempt at question spotting either - it is just that with the top up paper only covering consolidated accounts there isn't actually much else that a full drafting a statement question could be
The sylabus really is quite narrow for this paper so in that respect it is easy to get to grips with the material. I wouldn't have been able to pick out the parts that I needed to focus on for the top up without a good tutor though. 0 -
HII
i studied economics degree in Spain also AAT level 3 bookkeeping and Sage 50 payroll level 1-2.
i would like to study AAT accounting Level 4 ,with my other certificates can i get a exemptions in AAT L4 in mandatory or optional units?
INFO ABOUT MY SPANISH DEGREE
https://secretaria-virtual.uam.es/doa/consultaPublica/look[conpub]BuscarPubGuiaDocAs?entradaPublica=true&idiomaPais=es.ES&_anoAcademico=2021&_centro=103&_planEstudio=714
DEGREE SUBJECTS ARE TRANSLATION IN ENGLISH
AAT LEVEL 4 The mandatory units:
Management account budgeting
Management account decision and control
Financial statements
Professional level synoptic
Optional units
Personal tax
Business tax
Credit management
Cash and treasury management
External auditing
thanks so much!0
