Torn between ACA vs ACCA

scrapsmac

Hi. Let me start by saying I have full CAP1 and F1-F9 exemptions. Last year, I took a full-time postgraduate course in accounting to achieve this (coming from an Economics background).

I currently am unemployed but have the option to either pursue the elevation course or register and study towards june ACCA exams.

Now here's the problem, I thoroughly enjoyed the course last year, mainly for the craic with the class and also the lecturers however I really don't find accounting all that interesting. I don't see myself wanting to work as a full-time accountant in the future. I mainly took the course last year as I was straight out of uni and wanted to keep my education rolling. I also believe a course in accounting equips you with some very useful skills which employers would be after.

I now find myself in a position where I have some time on my hands and perhaps it would make sense for me to finish off either qualification. My trouble is deciding which?

Sorry if I was a little vague and I understand this kind of thread pops up all the time around here but I find boardsies a very helpful bunch

aka accounts 2010

scrapsmac wrote: »

Hi. Let me start by saying I have full CAP1 and F1-F9 exemptions. Last year, I took a full-time postgraduate course in accounting to achieve this (coming from an Economics background).

I currently am unemployed but have the option to either pursue the elevation course or register and study towards june ACCA exams.

Now here's the problem, I thoroughly enjoyed the course last year, mainly for the craic with the class and also the lecturers however I really don't find accounting all that interesting. I don't see myself wanting to work as a full-time accountant in the future. I mainly took the course last year as I was straight out of uni and wanted to keep my education rolling. I also believe a course in accounting equips you with some very useful skills which employers would be after.

I now find myself in a position where I have some time on my hands and perhaps it would make sense for me to finish off either qualification. My trouble is deciding which?

Sorry if I was a little vague and I understand this kind of thread pops up all the time around here but I find boardsies a very helpful bunch

Hey,

Let me start by saying that I'm currently studying for CAP 2 repeats in a couple of weeks time. From what you're saying above it seems obvoius that you don't want to work as an accountant. Simply put, why would you do the exams so?

These exams are not something you would just do to pass the time. They are extremely difficult. I can only speak from an ACA point of view. The main point to note is the unbelievable step up in standard from CAP 1 to CAP 2. They are nothing alike with regards standard.

I would carefully assess what career path you want to follow. If you don't want to be an accountant then maybe the idea of doing the exams may not be the best option. They are a huge time commitment and require alot of discipline!!!

scrapsmac

aka accounts 2010 wrote: »

Hey,

Let me start by saying that I'm currently studying for CAP 2 repeats in a couple of weeks time. From what you're saying above it seems obvoius that you don't want to work as an accountant. Simply put, why would you do the exams so?

These exams are not something you would just do to pass the time. They are extremely difficult. I can only speak from an ACA point of view. The main point to note is the unbelievable step up in standard from CAP 1 to CAP 2. They are nothing alike with regards standard.

I would carefully assess what career path you want to follow. If you don't want to be an accountant then maybe the idea of doing the exams may not be the best option. They are a huge time commitment and require alot of discipline!!!

cheers for the quick reply! I know it's the cliche but I'm a little bit lost in the wilderness regarding where I see myself in 10 years time. I wish I had an answer. I'm very much open to the idea of doing some form of accounting as part of my job however I would not like for it to be my primary role in a company. if that makes sense?! apologies I'm starting to confuse myself even

I think I was tempted by ACCA as I get the impression from researching that it is more flexible than ACA, even with the elevation programme? However I understand that traditionally, and probably wrongly, ACA is regarded as the better qualification?

Ben Hadad

If you really want to qualify I think its a no brainer to go with ACCA. In order to qualify as a ACA you will need to sign a training contract with an auditing firm for three years, this is not any fun whats so ever, especially if you already believe that you will not be overly interested in the working subject matter. You will also be stuck with that firm for the duration of the contract, who ride you appropriately. It's indentured service, a small step up form slavery.

ACCA on the other hand requires three and a half years work experience however what qualifies as work experience in the eyes of the institute is far more flexible and can be stretched to involve most working environments. You can work in any field, and any company that has a finance function, i.e every single one. You are not treated as a slave and get paid better. Also the exams appear to be easier. You can leave companies and complete the exams at your leisure.

ACCA is not really recognised in OZ and Nz however so bare that in mind if you wish to perhaps work there in the future.

scrapsmac

Ben Hadad wrote: »

If you really want to qualify I think its a no brainer to go with ACCA. In order to qualify as a ACA you will need to sign a training contract with an auditing firm for three years, this is not any fun whats so ever, especially if you already believe that you will not be overly interested in the working subject matter. You will also be stuck with that firm for the duration of the contract, who ride you appropriately. It's indentured service, a small step up form slavery.

ACCA on the other hand requires three and a half years work experience however what qualifies as work experience in the eyes of the institute is far more flexible and can be stretched to involve most working environments. You can work in any field, and any company that has a finance function, i.e every single one. You are not treated as a slave and get paid better. Also the exams appear to be easier. You can leave companies and complete the exams at your leisure.

ACCA is not really recognised in OZ and Nz however so bare that in mind if you wish to perhaps work there in the future.

I was under the impression that you do not need a training contract to study towards ACA with the Elevation Scheme? However I am aware under this scheme that you need one year of relevant work experience before attempting FAE's. Does this have to be in an accounting practice or industry?

Also, by studying ACCA am I limiting myself to working in Industry or is it possible to perform freelance accounting work when I am older for private individuals and whatnot?

ANXIOUS

Ben Hadad wrote: »

ACCA is not really recognised in OZ and Nz however so bare that in mind if you wish to perhaps work there in the future.

Does anyone know why this is?

pauldoo

Ben Hadad wrote: »

ACCA on the other hand requires three and a half years work experience however what qualifies as work experience in the eyes of the institute is far more flexible and can be stretched to involve most working environments. You can work in any field, and any company that has a finance function, i.e every single one. You are not treated as a slave and get paid better. Also the exams appear to be easier. You can leave companies and complete the exams at your leisure.

ACCA is not really recognised in OZ and Nz however so bare that in mind if you wish to perhaps work there in the future.

I think your info is a little off here;

Why do you think the exams are easier, i think they are pretty much the same. Ive seen very clever people struggle badly in both. Its 3 years experience and i dont think thats the case in Oz, i have 2 acca friends in oz, one works in deloitte and the other in grant thornton. From what i hear from workmates, ACCA is a better qualification in asian countries.

In my opinion the qualifications are much the same, sometimes its just a snobery thing, a FD once told me i wouldnt be able to audit if i did acca,and once i completed my ACCA i would have to go on to do ACA.

I was far happier doin ACCA because of the flexability

scrapsmac

cheers pauldoo!

Even with Elevation I'm starting to think ACCA is more flexible. Christmas and Summer exams opposed to just Summer. Also with the ACA Elevation programme I am committed to Saturday classes in my area with an element of continuous assessment? Is this the same right across the board with ACA?

I read a lot of people study for ACCA P1-P7 themselves. How doable is this in reality? There appears to be a lot more options regarding midweek classes with ACCA also (which suits me).

I guess my main worry is that I would regret doing one and not the other!! Am I limiting myself by doing ACCA, for instance in the future would I be able to go it alone and perform freelance accounting work with this qualification?

pauldoo

i think free lance work will depend on your ability, not really the qualifications you have.

I wouldnt do them on my own, there is a massive amount of detail to cover. The lectures will cover it all but will focus on the more important bits. They are expensive but i think you should do them.

kilburn

Have you considered going the CIMA route? Maybe a better option if you are not to mad on the thoughts of accounting

scrapsmac

I looked at CIMA but preferred ACA or ACCA. Thanks for all the help guys! Still fairly unsure what to do lol

but thanks anyway!!

Jim2007

Ben Hadad wrote: »

In order to qualify as a ACA you will need to sign a training contract with an auditing firm for three years, this is not any fun whats so ever, especially if you already believe that you will not be overly interested in the working subject matter

I could be wrong, but I seem to remember that there was an option to study outside of practice as well. In I seem to recall reading somewhere about someone doing in industry in Germany....

Jim.

ted2767

scrapsmac wrote: »

Hi. Let me start by saying I have full CAP1 and F1-F9 exemptions. Last year, I took a full-time postgraduate course in accounting to achieve this (coming from an Economics background).

I currently am unemployed but have the option to either pursue the elevation course or register and study towards june ACCA exams.

Now here's the problem, I thoroughly enjoyed the course last year, mainly for the craic with the class and also the lecturers however I really don't find accounting all that interesting. I don't see myself wanting to work as a full-time accountant in the future. I mainly took the course last year as I was straight out of uni and wanted to keep my education rolling. I also believe a course in accounting equips you with some very useful skills which employers would be after.

I now find myself in a position where I have some time on my hands and perhaps it would make sense for me to finish off either qualification. My trouble is deciding which?

Sorry if I was a little vague and I understand this kind of thread pops up all the time around here but I find boardsies a very helpful bunch

Would you consider doing a co op placement or internship?
You might be better off doing something like this as opposed to doing three years of exams especially as you're not 100% sure if accountancy is for you.
Better to do this for a few months and dislike it as opposed to signing up to a 3/3.5 yr contract and realise that you hate it.

scrapsmac

ted2767 wrote: »

Would you consider doing a co op placement or internship?
You might be better off doing something like this as opposed to doing three years of exams especially as you're not 100% sure if accountancy is for you.
Better to do this for a few months and dislike it as opposed to signing up to a 3/3.5 yr contract and realise that you hate it.

I did a couple of months work exp in a Chartered practice before I started my postgraduate. It was a small practice in a relatively remote area but good experience all the same. It got me thinking that perhaps I'm better suited to Industry as I also have a passion for technology and I.T and would very much like to have a more hands-on role in a company.

This might sound silly but are there are any roles out there which are suited towards someone with accounting knowledge but who would like to work with I.T/Technology?

smcgiff

scrapsmac wrote: »

This might sound silly but are there are any roles out there which are suited towards someone with accounting knowledge but who would like to work with I.T/Technology?

Hi - I think there's very little difference between the ACCA course and the CAI elevation course from a qualifying POV - apart from some flexibility as you pointed out.

You're right about accountants being able to use their skills to transfer to other areas, but that's because of work experience as well as passing exams.

I think a qualified accountant with IT skills would be a good mix in for employment in today's world.

Good luck!

scrapsmac

thanks smcgiff!

Just a quick question, If I were to qualify as ACCA, am I able to work in a Chartered Accounting practice in future? I only ask this to be certain of all my options.

scrapsmac

Folks I think I might go with ACCA!! For me the option of Midweek evening classes (I believe I would be a lot more productive and in the working mindset) and the flexibility of Winter and Summer exam sessions is a big plus. It will also allow me to keep my weekends free for additional study as well as maintaining some form of social existence

I have read many threads comparing the different bodies and I now believe that the type of work experience I get while studying will matter a lot more than the type of qualification.

I hope I won't regret my decision but a big thanks to all who contributed to this thread. You helped give me a great insight!! cheers

smcgiff

scrapsmac wrote: »

thanks smcgiff!

Just a quick question, If I were to qualify as ACCA, am I able to work in a Chartered Accounting practice in future? I only ask this to be certain of all my options.

Yip - although the Big four normally (though not always) recruit from trainees, which in Ireland are mostly CAI.

Good luck

Linkus

smcgiff wrote: »

Yip - although the Big four normally (though not always) recruit from trainees, which in Ireland are mostly CAI.

Good luck

Cool. I'm happy that I would still have the option to work in a practice. I'm very much the kind of person who likes to keep my options open at all times.

Cheers smcgiff. To be honest I think I'd prefer not to work with a Big 4. From the people I have spoken to there seems to be a hell of a lot more job satisfaction from smaller firms for the same reward at the end of the day. However I have also spoken to friends who only wanted to work at a Big 4 firm for the kudos.

Thanks for all the help!

pauldoo

Think about future jobs too, i recently changed jobs and having the big four on my cv was huge

Beyjaysus

Just read through this as im in this sort of situation myself. I have CAP1 exemptions and recently got CAP2 exemptions. I worked in a small practice in dublin for 5 months but have left there now. Didnt really enjoy working in a practice and don't think i want to enter a training contract. I enquired about the elevation prgramme and i can register for this programme this time next year to sit my FAE's outside of a training contract although i am in the process of looking for a job until then as it requires 1 years accountancy experience prior to doing the programme.

Dont want to go back into practice so looking at industry type jobs or banking jobs. Feel it would be a shame not to go and sit the FAE's now considering im this far.

scrapsmac

Linkus wrote: »

Cool. I'm happy that I would still have the option to work in a practice. I'm very much the kind of person who likes to keep my options open at all times.

Cheers smcgiff. To be honest I think I'd prefer not to work with a Big 4. From the people I have spoken to there seems to be a hell of a lot more job satisfaction from smaller firms for the same reward at the end of the day. However I have also spoken to friends who only wanted to work at a Big 4 firm for the kudos.

Thanks for all the help!

sorry folks linkus was me! i was using my bros account. thanks again