ACCA whilst self-employed??

Hi All,

I seem to be at a cross-roads in life and unsure which choice to make. A bit of background..

I currently work in practice as a management accountant. I have worked in practice for 4 years and currently hold AAT Level 3.

I have been offered an opportunity to join ventures and become a Director for a well-established company providing payroll services, with the view to take the business over in 5 years time. The profits are high already and projection for 5 years are very appealing!

My issue is that I want to continue my studies and not sure I want to just do payroll, as I really enjoy management accounts, bookkeeping, VAT etc.

What I could do, is work for this payroll company and also set up my own bookkeeping business along the side and build it up, so in 5 years time I can merge the two. I would look to study ACCA in this time but does anyone have experience in studying ACCA when not being able to put into practice what they are learning? I have never worked in the year-end accounts team, so would the paper knowledge be enough to then provide to clients in the future as I learn?

Or would I be better to get my AAT Level 4, then I would be an accountant, and then do ACCA with the exemptions to become chartered?

Or am I just being silly in the assumption that I can study ACCA and put it into practice without working in a practice environment?

Thank you SO much in advance for your help and advice.