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OK so I know this is an often discussed topic, but when I did a search, the discussions all seemed to be a few years old. I wanted to start another discussion to see who else is thinking about this and what their thinking!
I took F8 and F9 in June, I’m fairly confident I passed them *touch wood*.
My original plan was to take P1 and P2 next, but with the professional level changes, I think I’m going to skip P1 and P3 and wait for the new exam, so I’m looking at taking P2 and an option in December.
The problem is I’m not sure which!
I don’t want to take audit so at least that ones out. My current role is half Financial reporting and half treasury. So financial management is probably most relevant to my roll, but I worry its quite specific and I am not committed to staying in this role long-term.
My worst performance in the F modules so far was Tax (but not a disaster at 63%). Though obviously I don’t know how well I’ve done in F9 yet.
I am tempted to take Financial management and Financial performance , but I worry I am limiting myself a lot by not taking tax. I feel like what i learned in F6 was very basic and already out of date. And who wants to be an accountant who doesn’t understand tax? Although maybe advanced tax would become quickly out of date too. In addition, a lot of people have told me they found tax useful because it helped pull things together. But then I’ve seen the size of the kaplan tax textbook, and its a bit offputting!
I don’t think I’d ever want to do a role that was JUST tax but I’d be happy to do a role that at least involved it.
I enjoyed F5 and found it quite straight forward. And although not strictly part of my current role, I think its likely a management accounting role would be in my future.
So basically, I feel like I would have best chance of passing performance management and financial accounting. But I feel like I’m keeping more doors open if I take tax.
What has everyone else picked and why ?
If you plan to attempt the new exam, you will probably have a break from exams because the new exam will first come into place in September 18 session. So apart from P1&P3, you will have just 3 P level exams and starting from now, you have 1 whole year to clear just 3 exams. So yeah, you must consider this extra time that you will have if you plan to attempt the new combined exam. But obviously it also depends on how much time you normally take to study before attempting the exams i.e 3 months or 6 months? 2 exams or 3 exams?
Taking Advanced Financial Management will not limit your options to just treasury function, there are plenty other finance related areas as well.
You seem to have enjoyed F5 and therefore are tempted to take P5 but be open to the fact that pass rate for this paper is extremely low. However, someone like me who enjoyed F9 the most, I wouldn’t worry about the pass rate for P4 (also very low) because I enjoy the subject and I will do it no matter what.I am taking P4 as I plan to attempt CFA exams after ACCA and P7 because I found auditing to be much more interesting than tax.
According to your position, you should, in my opinion choose taxation to be the fixed option and choose between P5 and P4. Make a choice of interest and not difficulty.
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