Accounting geek question - ACCA or ACA?

[[TW]Fox]

I think I'd probably prefer to work for a smaller, regional firm.

 

[csmager]

I started out working in the audit department, then got a transfer to tax. Where I'm a lot less bored.

Glad you've confirmed my long held (but never verified) belief that audit is tedious...

 

[Pudney]

I think I'd probably prefer to work for a smaller, regional firm.

Our list intake for audit juniors started on circa £20k I believe. Prior to the downturn it was a couple of grand higher. This is without London weighting as well.

 

[Pudney]

Glad you've confirmed my long held (but never verified) belief that audit is tedious...

Now I don't have to work there to get a foot in the door I would rather stab my eyes out than go back

But then I actually enjoy tax so am weird. Some of the people in audit actually love doing that

 

[Castiel]

Ok, your original comment was bizarre and made no mention of exemptions.

What I mean is, if you have no degree you do AAT first. If you have a degree then in my experience employers will take you on to do AC(C)A straight away regardless whether it's accountancy based.

That is because I was repying specifically to a question asked by Dimi about the ACCA recognising the AAT. If you had read the post in the correct context you would have seen that I stated that with a relevent degree he could go directly to the ACCA.

I also stated that the AAT would give him exemptions from the ACCA. To get exemptions to any modules on the ACCA the degree must be an approved one, any old degree will not give you exemption.

Any degree will get you accepted onto a training program, but not all will exempt exams.

Again I'm confused (I intentionally removed the reference to the ACCA as I don't know). I was saying the foundation of the AAT isn't compulsory. I think we're both getting confused over what the other is saying.

Oh, and if it helps, the AAT gives 5 exemptions and 1 partial exemption from the ACA depending on which exams you take at the Technician level.

We were not talking about the foundation levels of the AAT at all, but the exemptions the AAT would give you in the ACCA.

 

[Pudney]

That is because I was repying specifically to a question asked by Dimi about the ACCA recognising the AAT. If you had read the post in the correct context you would have seen that I stated that with a relevent degree he could go directly to the ACCA.

That is what I'm disputing. In my experience it's ANY degree (not just accountancy related) that will get you straight into AC(C)A in general. We have some guy who did politics who started straight into ACA.

I also stated that the AAT would give him exemptions from the ACCA. To get exemptions to any modules on the ACCA the degree must be an approved one, any old degree will not give you exemption.

Any degree will get you accepted onto a training program, but not all will exempt exams.

We were not talking about the foundation levels of the AAT at all, but the exemptions the AAT would give you in the ACCA.

I'll give you that one

 

[Castiel]

What sort of salary do you get whilst training? I imagine I'd need to take a pay cut. Probably worth it in the long run though.

Around £22k-£28k depending on who you work for.

I currently earn in excess of £75k as a Group Treasurer although I am also AMCT qualified.

But it will give you an indication of what you can expect if you are career orientated.

Blimey, really feel like I'm arguing with you here

I agree, if industry do ACCA, if practice ACA.

However, unless the company you go to makes you do AAT, DO NOT DO IT! It is absolutely not necessary and is not that useful in the longer term.

Not my intention. I think we are answering two different people's questions here and that is leading to some confusion.

If you have a degree and are not in a related field and are willing to change to a company that either has an approved ACA or funds ACCA then that is the route to take. The AAT is not required. If you have good A levels then there is a chance you would be accepted also.

If, however you do not have a degree, then the AAT route would be the preference.

The amount of exemptions on the ACCA/ACA is entirely dependent on the institution and degree you have, the date you completed the degree and in the case of the ACA acceptance onto a Training Contract with an approved employer.


As for ACA or ACCA, the difference is not important and most, if not all the big Accountancy Practices will give you the choice without prejustice.

Smaller practices, however normally go one way or the other, depending on the qualifications their Partners hold usually.

I hope this clears up any misunderstanding.


Susie
Castiel's Wife.

 

[Castiel]

That is what I'm disputing. In my experience it's ANY degree (not just accountancy related) that will get you straight into AC(C)A in general. We have some guy who did politics who started straight into ACA.

I see what you mean. Poorly worded I would agree. I hope my previous post clears up my intended meaning.

Although given the current climate, a finance degree would be preferable.

I also found that with my own career my Maths/Economics degree pushed open a few doors a little quicker than they would have otherwise.


Anyway I'll hand you all back over to Castiel and stop hijacking his User-portal.


Susie.

 

[Pudney]

Although given the current climate, a finance degree would be preferable.

I also found that with my own career my Maths/Economics degree pushed open a few doors a little quicker than they would have otherwise.

Susie.

This would be true as well. Unfortunately all my degree gives me within my job is the chance to open the door to being the unofficial tech support guy for minor issues and bod to come to with database modelling

 

[Castiel]

I'm back now and I know shag-all about accountants (except that the one who lives with me has great legs) or their qualifications. I have been married for 14 years and I didn't even know that the wife had a Degree until now. Oopps.

 

[semi-pro waster]

I think I'd probably prefer to work for a smaller, regional firm.

This is more speaking from a CIMA point of view as I don't know all that much about the other qualifications yet but if the firm is particularly small then there's a chance you may struggle slightly to get the breadth of required experience required to complete your practical experience logbook. However there's a chance that it might work in your favour as you could be involved in higher level decisions much more quickly but that will very much depend on the size of firm and what it does.

At the moment on the training programme I'm on there's support for ACCA/CIMA/CIPFA and I think that overall ability and opportunities offered are likely to have more bearing on career progression than what qualification you've got - at least that's how it looks from the bottom now, this may change if/when I get a bit higher up and find I'm limited by my early choices.

 

[Pudney]

I think I'd probably prefer to work for a smaller, regional firm.

Look at firms like in the top 10-20 (who aren't the big 4 obv!)

http://www.accountancyage.com/resources/top50

Handy hint. Avoid Vantis

 

[Vonhelmet]

Screw that, do Tax. Far more interesting.

Yep!

Just waiting on a letter confirming my full membership in the CIOT - get in.

 

[mangobreeder]

Because its cheaper and he's less likely to run off to a better paid job after the training.

Fox will you please stop saying things like that. Its completly untrue and unhelpfull to the OP

Yep!

Just waiting on a letter confirming my full membership in the CIOT - get in.

what kind of tax do you specialise in?

 

[Vonhelmet]

what kind of tax do you specialise in?

Corporate, though I did the individuals and OMB advisory papers for CTA as I was told advanced corp tax was harder!

 

[Vonhelmet]

By the bye, AAT is popular at the moment because they've wangled it as some kind of further education course, or something, so it can be funded by the LEA, rather than having to be privately funded. I'm not sure it's totally free to study, but it's certainly much cheaper, and it's a good way in what with the exemptions that have been mentioned.

 

[Dimi]

You sure thats the case even for mature students?

As i was thinking of taking up a career development loan to fund mine.

 

[Castiel]

At the moment on the training programme I'm on there's support for ACCA/CIMA/CIPFA and I think that overall ability and opportunities offered are likely to have more bearing on career progression than what qualification you've got - at least that's how it looks from the bottom now, this may change if/when I get a bit higher up and find
I'm limited by my early choices.

The wife agrees with you. She says that experience counts as much if not more than qualifications.

She says you only have to look at the amount of Qualified-by-Experience accountants in Finance Director/Manager roles to see this.

Your qualification opens the door to your career, your ability/experience powers your progression.

 

[Vonhelmet]

You sure thats the case even for mature students?

As i was thinking of taking up a career development loan to fund mine.

Not sure... I think it might be only for under 21s or something.

Either way, they're really pushing it at the moment.

 

[Pudney]

Not sure... I think it might be only for under 21s or something.

Either way, they're really pushing it at the moment.

Under-25s. And it's only because the employer has to pay less. I maintain that the AAT is useless unless forced to do it.