Debating whether to continue with ACCA

Mr Schmiggles

Hi

I have been doing ACCA since last Sept and have passed the first 4 subjects. I have been applying every day for trainee positions and have heard nothing back. I am even applying for positions through the gov internship scheme and nothing. I am seriously considering not going forward with F5, F6 and F7 because even if I get all the exams, I will still need 3 years to get qualified - that means 3 years on piss poor money.

I appreciate peeps are in the same boat, but I would like to hear comments to the contrary if any.

Thanks

Mr S

SBWife

Would you consider qualifying through industry?

smcgiff

Mr Schmiggles wrote: »

Hi

I have been doing ACCA since last Sept and have passed the first 4 subjects. I have been applying every day for trainee positions and have heard nothing back. I am even applying for positions through the gov internship scheme and nothing. I am seriously considering not going forward with F5, F6 and F7 because even if I get all the exams, I will still need 3 years to get qualified - that means 3 years on piss poor money.

I appreciate peeps are in the same boat, but I would like to hear comments to the contrary if any.

Thanks

Mr S

What's your fall back career plan? If you think Accounting is difficult to get into what's the alternative?

The first four exams aren't that difficult to get and you may need to get more to differentiate.

If possible I'd suggest you keep up your exams. btw, you're considered qualified once you've passed all your exams. But, you cannot become a member without three years experience.

Good luck

Mr Schmiggles

SBWife yes I would consider qualifying through Indusrty, as I would be working there eventually. I think the frustrating thing is rejection after rejection whether its practice/industry. Another aspect is paying for the courses when you are unemployed - not easy.

Mr Schmiggles

SMcGiff I have worked in film as a VFX artist for a number of years so I always have that - but its cutthroat and there are no stable jobs and a lot of moving country etc. Yeah I appreciate the first 4 aren't tough. Ah I didnt realise you are qualified once u pass all the exams. Was my initial assumption about wages post qualification correct? Its 3 years to become a member of ACCA - got it now. So what does part qualified entail?

smcgiff

Howdy,

There's no defined definition of part qualified. Years ago ACCA unofficially said it would be something like 8 exams (might be the first 9 now) and two years experience. But, technically, if you've passed one exam you're part qualified.

Big change from VFX to accountancy !

noeleenred

You are part qualified when you finish the fundamental exams, you get a part qualified cert.

Mr Schmiggles

Ok understand now. The prob still exists tho - if you pass all your exams and get a job will you only be able to command trainee wages until you fulfill the 3 years exp? Thats my main issue with continuing....I would much rather do the exams while working as Im killing two birds with one stone. Kind of counter productive to put the work in for 2 years+ and then be greeted with 20K at the end of it

Anyway a lot of people are worse off than me so no more moaning

Yeah big change, but I need more stability. VFX is interesting for the first few years but then the exploitation becomes apparent.

smcgiff

noeleenred wrote: »

You are part qualified when you finish the fundamental exams, you get a part qualified cert.

You get a stage completion certificate, but don't think ACCA officially says, congrats you're now part-qualified!

ashes79

In a lot of industry jobs there is no such thing as "trainee" wages - but then they won't pay for your exams either

BESman

ashes79 wrote: »

In a lot of industry jobs there is no such thing as "trainee" wages - but then they won't pay for your exams either

Industry pay a lot better than trainees in practice. But, as stated, they won't pay your exam fees, etc. Also, I'm not sure about study leave arrangements, but from talking to people working in industry, you generally don't get any study leave or very little. So the shit pay in practice kind of evens out when you account for fees and study leave. Study leave in particular is very valuable when you add it together. You're talking about the guts of two months out of each of the three years paid leave. You'll also be exposed to a bit more variety in practice depending on the various clients and projects you might be assigned throughout your contract. For these reasons, practice might be more suitable to train in and then move to industry after qualification. You'll be likely to earn more too.

jkjhngk

When you say practice what do you mean and same for industry?

SBWife

jkjhngk wrote: »

When you say practice what do you mean and same for industry?

Practice = accounting firms which are separated into the big 4 (PwC, KPMG, Ernst & Young and Deloitte) other large firms Grant Thornton, BDO, Mazars, etc. down to local mom and pop type accountancy practices.

Industry = accounting departments in any other type of company.

EveT

Im doing ACA as opposed to ACCA,training in industry, but Id say do a few more to really get a feel for it, if the first few are anything like first few ACAs you def dont get a feel for it properly from them.

Also when youve more exams done youve more chance of getting a job.

Did you pass the 4 first time sitting them or need to repeat any?

kennyb3

Take a long term perspective, if this is what you really want to do for your career don't let a few hurdles get in the way. Suck it up, focus and push on with the exmas.

The economy wont always be in the s'hitter. Have you tried applying for jobs abroad? Or even there are a good few bookkeeping jobs outthere - you could work your way up. There are numerous ways around this.

Worst case scenario get qualified and emigrate.

lukestar

I'm in the same boat - I've recently started working in a small practice for free, its a bitch but at least I'll have something on my c.v. and I'm employers will look more favourably on someone who knows the basics and is confident that this is the career for them. Like I said - it is a bitch especially with mortgage etc to pay but I'm going to do it for 3 months then I have to start earning - would you consider doing something similar?

Pawwed Rig

You need to pass more of the exams. Once you have the first 9 passed you will be on par with someone who has a degree in Accountancy & Finance and even with a degree training contracts can be tough to get.
It is a long road no mistake