ACAs after AITIs

Stephanos · 23-05-2006 1:00pm #1

Hi I am planning far ahead but I wonder if anyone could provide me with an example of anyone who has done their tax exams and then gone on to do their ACAs.

Customarily it is the other way around - accountants do tax after qualifying. There is a certain amount of change in this area at the moment. I am aware that ACCAs are probably the most feasible.

My main concerns about doing the ACAs after my AITIs is that I would be tied down to an employer for a significant number of years. In an ideal world this would be OK if I worked somewhere favourable but in reality this does not work out.

My other concern is that my salary, which should be significant enough on passing my tax exams, will stay stagnant while I am working out my contract for the ACAs.

Can anyone provide any wisdom?

Kinetic^ · 23-05-2006 2:28pm

There's a few people who have done both in my office.........at the same time :eek: They're crazy though and have no life's and are very very very clever, so if that's you then do both simultaneously.

What's your situation with regards to ACA, how many years of a contract do you have to do? What are your exemptions like?

If you work in the big 4 in tax, they make you do ACA as your qualification anyway, strange I know but that's how they operate.

Stephanos · 23-05-2006 5:02pm

I am not certain about exemptions in ACAs. I am meant to have them but didnt pass some of the required subjects in college.

There is no way I would do them at the same time. I would consider doing them after. As I said my main concerns would be stagnant salary and the service contract.

Pythia · 23-05-2006 9:42pm

Keyser Soze 5 wrote:

If you work in the big 4 in tax, they make you do ACA as your qualification anyway, strange I know but that's how they operate.

AFAIK, in PWC you can just do the AITIs if you want.

Kinetic^ · 23-05-2006 10:04pm

Stephanos wrote:

I am not certain about exemptions in ACAs. I am meant to have them but didnt pass some of the required subjects in college.

There is no way I would do them at the same time. I would consider doing them after. As I said my main concerns would be stagnant salary and the service contract.

Find out your exemptions from here

Then let me know what they are and I'll try and give you the bext advice. Either way it sounds like you'll have a 3 and half year contract from the sounds of things. Then depending on your exemptions, you could have either 2 or 3 years of exams.

@Pythia. wasn't sure about them or KPMG but have friends who've been made do ACA who are in tax in E&Y & Deloitte.

Pythia · 23-05-2006 10:09pm

http://www.pwc.com/Extweb/career.nsf/docid/2A30C803D6D6031B80257058003E1757
Route 1 here lets you just do your tax exams. This is the route I plan to take.

Kinetic^ · 23-05-2006 10:16pm

Pythia wrote:

http://www.pwc.com/Extweb/career.nsf/docid/2A30C803D6D6031B80257058003E1757
Route 1 here lets you just do your tax exams. This is the route I plan to take.

Fair play. I might go on and do the AITI if my firm pays for it but I don't plan on staying there after my articles are finished......as soon as 11th July 2008 comes along I'm out there!!! So I'd only get level 2 done in tax there and then I'd do level 3 when I hit the big 4....dreams :rolleyes:...........better pass these prof 3!!!:D

Here's a question for you, are you tied down by any contract by taking route 1?

Pythia · 23-05-2006 10:32pm

Keyser Soze 5 wrote:

Fair play. I might go on and do the AITI if my firm pays for it but I don't plan on staying there after my articles are finished......as soon as 11th July 2008 comes along I'm out there!!! So I'd only get level 2 done in tax there and then I'd do level 3 when I hit the big 4....dreams :rolleyes:...........better pass these prof 3!!!:D

Here's a question for you, are you tied down by any contract by taking route 1?

Yep, I'm almost 100% sure.

Kinetic^ · 23-05-2006 10:35pm

Pythia wrote:

Yep, I'm almost 100% sure.

Then why not take route 2?

Pythia · 23-05-2006 10:37pm

Keyser Soze 5 wrote:

Then why not take route 2?

I don't know if I like accounting on its own that much. I'd really like to just qualify in tax. I'm also much better at tax than accounting. Mainly cos we had an awful accounting lecturer.
I'm going to see after my internship which route I'll take.

Kinetic^ · 23-05-2006 10:43pm

Pythia wrote:

I don't know if I like accounting on its own that much. I'd really like to just qualify in tax. I'm also much better at tax than accounting. Mainly cos we had an awful accounting lecturer.
I'm going to see after my internship which route I'll take.

Cool sure good luck with it and I might see you in tax lectures if I decide to go with it.

Stephanos · 24-05-2006 7:48pm

Keyser Soze 5 wrote:

Cool sure good luck with it and I might see you in tax lectures if I decide to go with it.

I am delighted for the decisions you have made but my original question was not answered.

Firstly does it make sense to do ACAs after AITIs?

Secondly what would be the effects on salary?

chump · 24-05-2006 8:52pm

Stephanos wrote:

I am delighted for the decisions you have made but my original question was not answered.

Firstly does it make sense to do ACAs after AITIs?

Secondly what would be the effects on salary?

Well it depends what you see yourself doing...
Do you want to be an Accountant, or a Tax Specialist, or are you not sure and you'd like to keep options open or do a job that's a bit of both?

And yes, you could do ACA after AITI but it makes more sense to do it before or simultaneously, as for ACA you need 3years sponsorship, for AITI you don't need any. So if you get the tax exams, even though you could be a tax specialist you'll have to enter a 3 year ACA contract, which will likely be on a low salary...

You can be a farmer and do the tax exams in your spare time.

Kinetic^ · 24-05-2006 9:35pm

Sorry but as chump says it make no sense whatsoever to get qualified and then tie yourself down.

You can do it, it's just a tad silly.

Your salary would be stagnant, wouldn't move as nobody is going to pay you what you're worth as a tax consultant. Unless you're only doing tax work and not doing audit/accountancy work.

Stephanos · 25-05-2006 12:27pm

Keyser Soze 5 wrote:

Sorry but as chump says it make no sense whatsoever to get qualified and then tie yourself down.

You can do it, it's just a tad silly.

Your salary would be stagnant, wouldn't move as nobody is going to pay you what you're worth as a tax consultant. Unless you're only doing tax work and not doing audit/accountancy work.

I had an idea that it would be a bit 'silly'. It is advantageous to be a tax specialist and have ACAs. The reason I was considering doing them after was that I didn't want to do them at the same time.

Kinetic^ · 25-05-2006 1:38pm

Stephanos wrote:

I had an idea that it would be a bit 'silly'. It is advantageous to be a tax specialist and have ACAs. The reason I was considering doing them after was that I didn't want to do them at the same time.

Yes it is very advantageous, with so many accountants qualifying these from the 4 bodies (ACA, ACCA, CPA, CIMA), to have AITI as well as one of the others definately gives you an advantage. I'd do the ACA/ACCA first then when you've got that done, you'll probably still have to work up some experience to be fully qualified as an accountant so why not start into the AITI's then??

Stephanos · 25-05-2006 3:05pm

Keyser Soze 5 wrote:

Yes it is very advantageous, with so many accountants qualifying these from the 4 bodies (ACA, ACCA, CPA, CIMA), to have AITI as well as one of the others definately gives you an advantage. I'd do the ACA/ACCA first then when you've got that done, you'll probably still have to work up some experience to be fully qualified as an accountant so why not start into the AITI's then??

I am currently doing my AITIs now. I have my part 2s exam in August. I am also working in tax at present.

Kinetic^ · 25-05-2006 4:28pm

Stephanos wrote:

I am currently doing my AITIs now. I have my part 2s exam in August. I am also working in tax at present.

Oh ok, like it's still an option. Don't write it off, it would be very unorthodox to do it the way you're thinking about but not impossible. Sacrifices would have to be made, mainly financial ones...defo worth a go though.

Stephanos · 25-05-2006 5:19pm

Keyser Soze 5 wrote:

Oh ok, like it's still an option. Don't write it off, it would be very unorthodox to do it the way you're thinking about but not impossible. Sacrifices would have to be made, mainly financial ones...defo worth a go though.

Hmmm I thought so. That was my main concern. I was advised that ACCAs would be the better option for obvious reasons. It would be good to have some form of credibility when dealing with accountants

*opens window and disposes of any notions of becoming a chartered accountant*

ACAs after AITIs

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