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At the moment, you have 10 years to complete ALL ACCA papers regardless of whether you get exemptions from any or not.
The new proposal is a 7 year time limit that only begins once you pass your first ‘P’ paper. This means there would be no time limit on completing the ‘F’ papers and the clock only starts ticking from the ‘P’ level papers.
The proposal goes further in that it would apply an ‘expiry date’ to your pass on each of the ‘P’ papers of 7 years from the date you pass. This would mean that once you pass P1, you have 7 years to pass the rest. If you do, then all is well. However, if you don’t, then after 7 years, your pass for P1 would expire and you would need to sit it again along with the remaining paper(s) you haven’t passed.
By the sounds of it, it effectively means that no-one will be time-barred anymore if they haven’t completed all exams in 10 years, more that you have to complete all 5 papers within 7 years, or the pass for the earliest papers becomes void and has to be taken again.
I think it sounds like a good idea. What do others think?
If anybody is wondering, I got a survey via email from ACCA about this proposal which is how I know about it. Not sure if everybody else got one as well or if it was a random sample of students.
It makes sense but i feel the 10 year limit is Oke.I have been passing & i will have more years to complete when i have already completed.I just finished ACCA & yet my expiry is 2017.
Regards
James(Senior Lecturer & Associate Professor Nicknamed)I think the 10 year limit is a bit unfair because it applies to everybody regardless of their starting position. It worked in my favour as I was exempt from 8 of the F papers, but some people I work with didn’t get as many as that, but we all still have 10 years from our starting position to complete the rest.
No exemptions are available for the P papers though, so the new proposal would mean everybody having the same 7 year window of opportunity to complete all 5 P papers or resitting the earlier P papers if they go beyond the 7 years for whatever reason.
Hi all,
I’m a Social carer and want to get a job in accounting and /or tutoring. I’m starting from the bottom up, using BPP texts and the OpenTuition after many years of poor health and education set-backs.
I was quite comfortable with the 10 year ‘limit’ (I’ll be 52 then !) As time is not on my side, i’m very much the ‘old man in a hurry’.
Fortunately I have plenty of time to study and 2-3 papers a year looks ok. Granted, some papers are easier than others.
I personally feel less pressured than if I were doing a distance degree ( I live in the far north of Scotland but planning to move to Southern England (my roots) in five years.
I intend to hurry as best I can !!
atbThanks for sharing this, sir. Glad to know further updates on this issue, if any…?
Thanks fidget for the new proposal. I found it better but I still disagree. First I wish that there is no time limit. No one has the same problems. Telling the truth most of the exams like P6 expired after the new budget. Every subject is linked to one another so it is useless to do it again. I found it more a business/money issue.
I think the person who is doing P7 he is still have update notes in answering the question. For example he will not turn on P1, did it 5 years ago and studied them. I do not turn on F6 and studied them again because we know how they changed a lot. I am doing P1. So you are telling that the basic of P1 after seven years does not make sense?
What is the use of Continuous Professional Development? I think ACCA need to focus after the person is qualified and not to start again. Please let people to have their dreams come true. We know how difficult to have good marks in ACCA.
I take two exams a year. I pass from only one. I have a family and work at home. I have a degree in Accounting and Management and I only had three exemptions. What happen if 10 year passed and I still have one P to be qualified?
Thanks so much.
I wondered what happen after 10 years, mine expires in 2017 and with 3 papers left I should be ok, I took a couple of years out after my first f papers due to family issues, which is why its taken so long,
The new pproposal sounds good to meI like the idea. Will they put it in action soon please? Or they are still thinking ?
Thanks for the update sirThanks for the original update.
Are there any further updates from the ACCA regarding if this proposal is going to happen and when any announcement would be made.I think this is a big point as a lot of people will be hit by the June 2017 deadline.
Many thanks
Thank you for the update. I was just thinking about it as my last session is also June 2017.
I have only 3 exams left but feel pressured and would be very happy with the new rule of 7 years after doing first P.
I did not have any exception, I have taken unexpected 3-years-long break due to health/family issues. Now I have small children and instead of enjoying family time I am stressing over the exams and the deadline. For me it is not easy to juggle work, family and studying. I even gave up my volunteering.I strongly agree with the 7 years after doing the first P paper. Life isn’t the same for everyone , for example i was on track but then got set back approximately 4 years not only in acca but life in general, so i am greatly appreciative of an increase in time now that my life is back on track.
Additionally there may be those who have families or started families approximately the same time when they started the P papers, which means alot of responsibility and some serious time management. As such, i think the 7 years would be beneficial to those also , although i think that no time limit would be better.
I also know of quite a few people who are considering dropping ACCA because of the June 2017 deadline since they are not certain how they will progress with exams over the next few years. So if the time period is extended they would gladly stay on board.
What would also be welcomed is quarterly sittings…..at least thats my opinion.
if it becomes true, acca could earn more from students, not only fees, but also students number, it would bring positive effect to the status of acca over global accounting professional bodies. i think that’s the main purpose.
wondering the update…- Topics: 0
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Well I think It kinda nice
Does anyone have any update regarding this? A lot of students will be hit by June 2017 deadline. I know a survey was sent round proposing a change to the 10 year rule and you would think when the 4 sittings a year come into play this will have an effect on this?
It is very important to change the time period structure to cope with relevant situations for each candidate joining ACCA profession, because the time zone should take into consideration the relevant exemptions given and justifiable reasoning for not stick on time
I agree quarterly sittings its easier to resort a paper whilst you still remember a lot of things
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I also agree.QUARTERLY SITTINGS should be considered.At least there would be an opportunity to clear more papers withing a year especially for part time studies due to time pressures and work commitments.
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While I don’t agree that people should need more than 10 years to complete the course (I have had no exemptions, work full time and have taken a year away from studying to get married, and will still have 4 years spare in case of resits), the change sounds good from the perspective that if we passed a paper 7 years ago, then what we learned is likely to be outdated and we probably do need to learn and be examined on the current issues, much like continuing professional development.
Anything that makes the qualification more relevant and (hopefully) more respected is just fine by me.
I think its a fabulous idea as the time limit is extremely demotivating. I am justbeginning f4 and my time will be up in 2018. Due to serious health issues, I was forced to quit work and school for a while, but now that I’m back on my feet, I sure hope this plan takes off…
Anyone have any further info there must be a lot of concerned students out there.
ACCA have never time barred anyone before why would this be fair to do it now.
Surely the proposal makes perfect sense because people get exemptions and start the course at different stages.
Everyone has to do the Professional papers so surely a time limit on just those papers is fairer.The 10 year limit has always been in place, and it is clear when you register as a student that the limit exists.
The reason it has not actually been relevant is that whenever the ACCA has a complete review of the exams (not simply syllabus changes – changes to the actual papers) which is normally every 7 years, then they have ‘reset’ the 10 year limit for everyone.
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