Accounting geek question - ACCA or ACA?

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Accounting geek question - ACCA or ACA? *updated 12/08*

From what I gather this forum seems to be full of well educated professional types, this is bound to be relevent to someone who might be able to help me or have some input please.

In February I'll be finished with my AAT studies (fingers crossed). I'm not completely sure what the differences between the ACA or ACCA are, and I don't care which is harder I just want to do the one that will have most use to me.

From what I understand the ACA is slightly more difficult but only very useful if you want to do auditing work, it is less globally recognised than the ACCA but held in higher regard in most places? Although I may be totally wrong.

Someone here must have done one or the other. How did you find it and which would you recommend?

/accounting geek :cool:

edit *updated* I know this is a lot but this thread's had some very helpful people compared to student/accounting forums I've tried.
from post #88


Extending this accounting thread a bit sorry. Thinking out loud a bit.

I think I'll talk to Reed or another good agency sometime soon. I like the tax units, and I still don't really know what I'm aiming for.

Studying...

AAT - Will finish by February 2011 (fingers crossed), when I start the last NVQ I want to study the optional units, "Personal Tax" and "Business Tax". I find the tax modules quite interestering.

I'll have the option to study...

ACCA - for two years, I can also get the Oxford Brookes degree. I still think this isn't quite so highly regarded as the ACA as a lot of people have pointed out (people in this thread seem to lean more towards ACA), but I also get the impression that with some experience and good work under your belt nobody really cares too much.

ACA - for three years. I may be misinformed but I've read somewhere you can only take the final exams on the third year of your training contract. This is another problem for me as my current role is completely unrelated to finance or accounting, I'm not sure I could get such a job with only two thirds of an NVQ and no relevant experience or University education.

CIMA - I know least about, I'm going to read up on some more. From what I understand it focuses slightly less on audit, is slightly more restricted than the others but is very good for management accounting. Not so good for practice or auditing but it still covers this.​
 
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First post since starting the thread I'm surprised at the overnight response, thanks very much for the replies!

It's gone a bit off topic with AAT/ACA/ACCA paths which isn't that surprising.

You do AAT if you don't have A levels or a relevant degree basically, otherwise most people can go straight into ACA or ACCA as far as I know. You get a few exemptions off both the ACA and ACCA for completing the AAT. I read someone say the AAT takes 3 years which is rubbish, you can complete it in 18 months or 12 if you're exempt from the Foundation unit.

I think it's cleared up some things thanks, I'm not even in an accountancy related job yet so I'm not sure if I'll get the chance to do the ACA but I'm not going to lose any sleep if I find I have to do the ACCA instead.

There's also a degree you can get when you study the ACCA, your ACCA grades count towards your degree merit and you have to write an 8,500 dissertation paper (which only counts for 5 or 10% roughly, I can't remember). It's a bit strange and I don't think it would be highly regarded but you do get a degree out of it in the end.
http://www.business.brookes.ac.uk/undergraduate/2010/acca/?err404=study/ug/acca

I'm not completely sure what I'd like to be doing I'd rather keep my options open as much as possible, I'm going to look into CIMA a bit more as well.

I'm studying with BPP by the way.

Another can of worms, is it very silly to complete the ACCA and then do the ACA afterwards (you get exemptions from all the first year ACA units).
 
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Given me more to think about, maybe I'll dig up this thread next year if I remember.

No, I don't have a clear career path in my head.

I was leaning towards ACCA just because I don't know what kind of accountancy job I'm going to get, which might exclude me from doing the ACA. I'm thinking I should look into CIMA as well.

There's a Reed and Hays near my office (London, they're everywhere), think I'll have a talk with one of them before the end of the year. I know it should be obvious but that's good advice, I didn't even think to do this thanks.

Btw thanks for helpful emssages especially Robbie G, robskinner, Pudney@work, Castiel's wife Susie and all :D
 
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Only 'cause you're a nation of tight fisted penny pinchers
shhhc.gif
 
Extending this accounting thread a bit sorry. Thinking out loud a bit.

I think I'll talk to Reed or another good agency sometime soon. I like the tax units, and I still don't really know what I'm aiming for.

Studying...

AAT - Will finish by February 2011 (fingers crossed), when I start the last NVQ I want to study the optional units, "Personal Tax" and "Business Tax". I find the tax modules quite interestering.

I'll have the option to study...

ACCA - for two years, I can also get the Oxford Brookes degree. I still think this isn't quite so highly regarded as the ACA as a lot of people have pointed out (the ACA lovers seem to slightly outvote ACCA), but I also get the impression that with some experience and good work under your belt nobody really cares too much.

ACA - for three years. I may be misinformed but I've read somewhere you can only take the final exams on the third year of your training contract. This is another problem for me as my current role is completely unrelated to finance or accounting, I'm not sure I could get such a job with only two thirds of an NVQ and no relevant experience or University education.

CIMA - I know least about, I'm going to read up on some more. From what I understand it focuses slightly less on audit, is slightly more restricted than the others but is very good for management accounting. Not so good for practice or auditing but it still covers this.
 
Bump again...

Last part of my AAT. Four options, pick two. Think I'm going for tax...

Principles of credit management
Personal tax
Business tax

External auditing

Is this wise?
 
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