Acca and exemptions

JQ25

Hi guys,

I graduated from DIT with a 2.1 Business & Management Degree, where i specialised in Finance for my final year (and did corporate finance in 3rd year). I was hoping to be exempt from f1,f2,f3,f4, and f9. However ive only been exempt from f1 and f2. I had to repeat financial accounting in second year, so i understand why they would have problems with f3. But I received over the 50% mark needed in Law and Finance but still I havent gotten the exemptions.

If I were to go ACA I would get these exemptions, or exemptions that would be very similar, e.g. in and around 5 exemptions. I m meeting my college lecturer tomorrow to discuss my options, I'd really appreciate if you could give me and insight into what course you guys did, and what exemptions you got. And what way I could appeal them. My course isnt on the ACCA website, as I am part of the first year of graduates of the new course.

Im really at a crossroads at the moment, whether to do the ACCA, or maybe just do a masters.

Thanks in advance.

seven-iron

You dont get the exemptions because you did business & management, not accounting.

And you didnt "specialize" in finance, you picked it as an option for one year. Also, that module alone doesnt go into that much depth. For example accounting in IT Tallaght do two and a half years of finance (personal finance, financial management and corporate finance). They also do two years of audit and tax. Thats why they get so many exemptions (about 9 i think).

Anyway I know that wasnt the answer you were looking for but hope it provides some information

JQ25

The course is tailored for accounting if you choose, for example if I would have chosen the Accounting route I would have been completely exempt from Cap1 for ACCA. I did Corporate Finance in 3rd year, and 2 Finance subjects in 4th year(so 2 years).

Can I ask, have you graduated from Bus & Man too, I'm guessing you have if you can say that the finance stream isnt that in depth. I have looked at the material for both the ACA and ACCA and I have covered a lot(perhaps not all the material) but most. I have also spoken to the financial management lecturer in DBS about on whats required for the F9 exam.

seven-iron

cap 1 from aca you mean?
no accounting grad!

thinking about it, you probably should have f1,f2,f3,f4 and f9 on the face of it. you say you had to repeat f3? acca might just consider it a pass even if you aced the repeat.

The only thing I can think of is that because its a management degree the head of departments/lecturers arent to concerned with getting the exemptions where as in accounting degrees thats their most important objective. so maybe your subjects arent really tailored to acca or aca, in which case the bodies dont give the exemptions.

can i ask are you going into a small practice?

viztopia

i had a similar problem with ACCA when i registered with them 9 years ago. they wouldnt give me the exemptions that the college had posted on their notice board (gmit) i rang ACCA dublin and they were useless at best. didnt want to talk to me. My employer didnt care either. The college were good to me the only thing was that the head of teh department wasnt there. i would suggest that you go to see that person asap finally i sent a stinker of a letter to ACCA Glasgow and i got me exemptions. you should definatly do this as their administration is sh*** at best and you have done a lot of the hard work already.

Kine

I also did a Business Degree in DIT, sounds liek teh same one as you (although I think it changes after I left). In mine, it was 4 years, and you specialised in Accounting, Marketing or Finance for the final two years. I also specialised in Finance.

After this I did a masters in Smurfit (MBS Finance) and am in the process of doing my ACCA. Upon initial application, I received 4 exemptions. However, I kicked up a fuss (found ACCA Ireland helpful in this) and received two more. To be honest, I should've received 8, as the first two ACCA subjects I did (Tax and Finanacial Reporting) were the exact same courses I had covered in college, so was annoyed to have to do the two of them again.

My advise, keep fighting and arguing with them. As far as overall results go, I'm not sure if you need to have achieved certain marks in the individual subjects to become exempt.

JQ25

Got onto to DIT, basically they made a balls of the exemptions application process. One of the lecturers said he will sort it out, and would be very surprised if I didnt get the 5 I was looking for.

ACCA don't have my course in their database, so basically they treated in like a Managment Degree, ie HR etc etc. But said more than likely I should get the exemptions when DIT's application is processed.

Such a joke! I graduatedin May, and Im still chasing them to sort them exemptions out, they havent sent off for CIMA yet either!

Sooo the plan is to start Taxation and Performance Management this February with DBS. Do you think these would be good choices for my first exams? I've heard great things about Julie Hawkins, also I heard Financial Reporting is a very tough exam so might want to go with something a bit handier for my first attempt.

Colin156

Hi Guys.

I also did the finance stream of the 4 year business degree in DIT - FT351 and the finance masters in smurfit and they got back to me to say that i am only exempt from F1,2,3 and 4. Before both the glasgow and dublin office had both verbally confirmed that i could be exempt from F1,2,3,4,5 and 9. Does anyone know who the best people to go to are or what exams i should be exempt from. any help would be greatly appreciated as it would obviously mean 2 less exams.

Thanks

jph100

I've a funny feeling that I'm not going to get as many exemptions as I feel I would be entitled to.

How long does it take for more consideration to be given to the subjects you have already studied?

The CCAinsider

ACCA is very strict on exemptions. The course must have 80% coverage of the ACCA syllabus and be examined by a 3 hour exam or 2 X 2 hour exams. The course needs to also cover any compulsory topics on the ACCA syllabus. The people to talk to are the colleges, minor tweaks and the course will get exemption. For example, lots of colleges did not have "internal audit" on their auditing course and lost the auditing exemption as a result.

The exemptions are also not as important as you think. The professional exams are so different to college exams. Many people who get exempt to the final level really struggle, but people who get fewer exemptions tend to fly through the finals because the earlier papers build up to the finals.

yeah_ok

The CCAinsider wrote: »

The exemptions are also not as important as you think. The professional exams are so different to college exams. Many people who get exempt to the final level really struggle, but people who get fewer exemptions tend to fly through the finals because the earlier papers build up to the finals.

hi is there a way of getting ACCA to look again at your college subjects and maybe award further exemptions? I got 2 exemptions but thought I would get more.

I do take the point you made above. It is very valid, but as a student starting off I wanted as many exemptions as I could get! Although I believe I will be glad of the solid base in the subjects that will be continued in the finals.

Thanks for any help

The CCAinsider

The CCAinsider wrote: »

The exemptions are also not as important as you think. The professional exams are so different to college exams. Many people who get exempt to the final level really struggle, but people who get fewer exemptions tend to fly through the finals because the earlier papers build up to the finals.

+1. Students get almost obsessed with exemptions, I see it first hand in my line of work. I understand the appeal of exemptions, but in my experience, the students that do best are often the ones that had to do some 'F' courses, rather than going straight into P1.

The CCAinsider

To "appeal" your exemptions, e-mail info@ie.accaglobal.com include a transcriopt of your exams and your student number and the local ACCA office in Dublin will check again for you.

yeah_ok

The CCAinsider wrote: »

To "appeal" your exemptions, e-mail info@ie.accaglobal.com include a transcriopt of your exams and your student number and the local ACCA office in Dublin will check again for you.

is it worth it?

i was hoping to get more that the 2 i got but i can understand the pros of not getting the exemptions. i imagine i will get a more solid base for the more advanced exams down the line