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Hi everyone,
Let me start off by telling my current situation and then off to the questions. I was with a public accounting firm (approved employer) for almost 4 years in my country and was studying for a different qualification (more audit related), but now I have moved to work for a private company and I am interested to start the ACCA as I see more value in that being in corporate accounting/financial reporting role rather than simply audit, and the ACCA would be more versatile if I decide to change jobs in the future (in this case the jobs would still include finance/accounting/reporting etc roles anyway). The current company is not an approved employer. Considering that F level has no time limit to completion, I would just hopefully start doing the exams and see how it goes for me.Of course, many of the questions can be asked to the ACCA themselves, but I would want a more personal perspective on some of the questions and real life examples, not just standard replies (I’m not implying that ACCA give dull and useless answers, it’s just that they obviously cannot give a personal opinion and experience on some of the topics).
First – exemptions – ACCA website does not list my university for any exemptions, but I wanted to know whether anyone has experience when they have been granted exemptions even though the website didn’t list your university for any? My both bachelor’s and master’s degree have been in tax field and thus contained mainly subjects relating to business and accounting (would qualify for F1-F3 potentially), domestic and international law (general, trade, business, EU law, would qualify for F4 potentially if chosen global), taxation (EU & international tax law, tax planning, etc, would potentially qualify for F6 if chosen global). Of course, this is a pipe dream and I may not get any of the exemptions, but maybe you have some tips how to give the ACCA more information on the subjects I have studied so that they would at least give an eye and evaluate this and not just automatically cut me out on the exemptions?
Second – study resources – I would like to get over with the exams as strategically cheaper as possible, that’s why I was wondering whether open-tuition + past exam papers from ACCA website + maybe some old ACCA books from library for general concepts that do not change based on legislation or standards would be sufficient for passing? What is your average study time for the exams and if working a general 9-to-6 job taking 1 exam each 3 months would be a realistic thing?
Third – mostly for the future – maybe more directed for members working at private non-approved employers – how hard or easy is to get the 21 approved CPD’s + 19 unapproved? I would want real life examples, how you guys fulfill these requirements, preferably through online options as again, I would like to be able to do this in the future with maximum saved resources.
Thanks. If you need any clarifications from me, please ask.
Hi artp,
I’m a finalist, waiting on final results from Sept’17. I gained excemptons from F1-3 and have sat the rest over the last 21 months. I’ve tried to answer your queries as best I can below.
First – I did AAT before ACCA which seems quite standard as far as exemptions go. However, my understanding is that ACCA considers many types of previous qualifications and exemptions awarded are often decided on an individual basis. My advice,
– Apply for exceptions and see what you are awarded. If your not happy with the outcome and want to do another qualification then you have lost the ACCA registration fee only.
– Or call ACCA and discuss with them prior to registering
– either way I think you can appeal with ACCA if any exemptions are not accepted.Second – I am currently waiting on my final exam result, sat in September’17, and I have done all exam with Open tuition and ACCA’s free resources only (although I did purchase a couple of Becker revision note books, which start at £8). As long as you are motivated and willing to put the hours in this is a great way to study. The lectures and notes are fully comprehensive and the ‘Ask tutor forums’ and peer forums are great for answering any specific questions. The total cost for me has been (exam fee entry’s + membership + c.£50 for additional books and resources).
In terms of hours study I think it’s more of a personal thing, but I have been working full time and managed to do 2 exams almost every sitting. So yes 1 every 3 months is manageable, but you must put the hours in!!!Third – I’d say don’t worry about CPD until you are qualified. However there are many ways to gain CPD. Lectures and events provided by ACCA, as well as top-up courses to update you on latest developments. There is plenty of opportunities so don’t let this put you off.
I’ve had two employers in my 6 year career so far and neither have been approved employers. Despite this I have found all the PER requirements straight forward and easy enough to achieve so I expect CPD to be the similar.Hope this helps
Max
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