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Hey guys,
Looking at starting a potentially new/alternate career route before it’s far too late and I thought ACCA would fit the gap perfectly for me.
Essentially my query is regarding money saving. I’m able to start with the Level 4 course (FAB, FFA & FMA papers) as I currently possess a Level 3 in another subject., but I would rather start right from the beginning from Level 2 (FA1 and MA1 papers) and work my way up as I did previously as I know how valuable the lower course is to push you further up the ladder and so you have a vast understanding of the basics.
My question is this: Is there any point in registering with ACCA now?
Surely it makes more sense for me to use the syllabus and study guide on ACCA Global, use all the study notes on Open Tuition, do all the practice exams until I am comfortable and then when I am happy, I can register with ACCA and do my exam straight away which will save wasting time and money on my Annual Subscription.
I know they have a wealth of knowledge on their website, but obviously nothing like this is covered, so I’m just wondering if it will work and be the sensible option.
Thanks muchly,
KarlFAB, FFA & FMA do not assume any prior knowledge so I would recommend to anyone planning to become ACCA qualified to start with these.
@kim2311 said:
FAB, FFA & FMA do not assume any prior knowledge so I would recommend to anyone planning to become ACCA qualified to start with these.Hmmmm. Very strange that as ACCA advise the following on their website:
‘The knowledge gained by completing FA1 and MA1, then FA2 and MA2 will give you the essential knowledge you need to pass FAB, FMA and FFA. Therefore, we strongly recommend students take FA1 and MA1 before moving on to FA2 and MA2, and finally to FAB, FMA and FFA.
Having the right building blocks in place will ensure you have every chance of success in the Foundation Diploma and in at the ACCA Qualification, if you choose to continue your studies.’
I’ll have a look into the FAB, FMA and FFA syllabus and see if anything prior is covered. My main concern is that I don’t want to jump into it, have a poor attitude of ‘I don’t understand, I can’t be bothered’ and waste time and money.
I think the distinction is in the “and finally …”
If your aim is only the foundation level qualification, which has no entry requirements, the certificates may be for you, but if you meet the entry requirements for the ACCA qualification (see https://www.accaglobal.com/uk/en/qualifications/glance.html), you can start at the FAB, FFA & FMA level.This is reinforced by ACCA in the introduction to the foundation level qualifications: https://www.accaglobal.com/uk/en/qualifications/glance/foundation-level/overview.html
“Do you have 3 GCSES and 2 A Levels (or equivalent qualifications) including maths and English? Then you can start at the ACCA Qualification. So visit the ACCA Qualification page to start your journey with us.”
I personally started straight into the ACCA qualification without doing the foundation diploma. I had never studied accounting before but I got on fine. As Kim says no prior knowledge is assumed in F1, F2 and F3. I don’t think it’s necessary to start right at the bottom if you meet the entry requirements. 14 exams is enough without doing 4 extra ones!
In the long run, my aim is to complete the ACCA qualification.
My issue is that I’ve recently taken out a mortgage and I’m unable to get any hands on experience at present because I am unable to take such a huge pay cut, and therefore my preference it to take the Level 4 which should hopefully open the door to a job opportunity which will probably start at the bare minimum figure I can go.
Due to not being in any sort of a rush at present (although I will look at getting it complete as quickly as I can), I felt as though it would be best to start from the absolute foundations to really broaden my understandings and so I can go into the higher levels with confidence and more knowledge of the bare essentials.
In relation to my question above though, I contacted ACCA to see what they would say and they confirmed that to complete even a Level 2, I would need to register with themselves. The reason behind asking was because I’ve only ever previously completed City & Guilds qualifications and haven’t had to do any of this registering before, but unfortunately with ACCA, the fee still stands.
Therefore I will study for the Level 2 using the resources from Open Tuition, make sure I am comfortable and as soon as I am ready I will register with ACCA and then sign up for the exam.
Hopefully anyone else starting out (no matter where you start your ACCA studies) will be able to benefit and save some time and money with this method also.
Thanks both for your input. I see exactly what you mean now.
As previously stated above:
‘my preference it to take the Level 4 which should hopefully open the door to a job opportunity which will probably start at the bare minimum figure I can go’
Looking into this more, I now see that on the ACCA website that the F1, F2 and F3 (equivalent to the FAB, FFA & FMA) would also let me obtain a Level 4 (as well as saving money in the long run on not having to pay for any of the exemptions).
As I have been reassured that the F1, F2 and F3 assume no prior knowledge, I’ll take both of your advise and start here. If I do get stuck at any point, there is no harm going back over all the other valuable information Open Tuition offers at any of the lower levels as in the end it will all help reach the same goal.
Thank you for your advice, time and help – It’s greatly appreciated.
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