ACA Information

pcaca

I’m looking for some advice on ACA exams. I have an engineering degree but I’m thinking of changing career to accountancy. I’ve been offered a training contract with a Big 4 firm to do ACA. I’d have no exemptions so I’d have to do every single exam. What I want to know is;

How hard are the exams?

Would I have to sit all exams at once each year, or do you do 2/3 exams in May and the rest in August?

What’s the pass rate for each stage of exams?

Any information would be much appreciated

Umaro

What’s the pass rate for each stage of exams?

CAP1: 69% of students passed all exams first attempt (Source)

CAP2: 45% of students passed all exams first attempt (Source)

FAE: I can't find the report, but I think it was about 50%.

These are all very bright people that do these exams. They're very tough.

EveT

CAP 1 are ok, have you any background in accounting? like I mean even leaving cert?

CAP 2 are TOUGH! I fairly sailed through CAP 1 but I can tell you I havent studied as hard since my leaving cert until CAP 2, I got 74,70,68 and 51, and I mean that took A LOT of sacrifice and study but I did pass them first time.

On FAE now so cant comment yet!

Not to put you off, but so far CAP 2 have been the tough ones

EveT

Umaro wrote: »

CAP1: 69% of students passed all exams first attempt (Source)

CAP2: 45% of students passed all exams first attempt (Source)

FAE: I can't find the report, but I think it was about 50%.

These are all very bright people that do these exams. They're very tough.

not sure thats correct? think those stats relate to people passing all papers sat, so you could be in there if you sit 2 and pass 2?

pcaca

Thanks for that information.

I have no accounting background whatsoever. All my education and work experience is in engineering so I'm starting from scratch with accounting. I was under the impression that CAP 1 exams were designed to get people from non accounting backgrounds up to speed. Is that the case?

Are there generally many people from non accounts backgrounds on these training schemes?

Also, is it a big deal if you don't pass all the exams first time? If you pass 3 in May and 1 in Sept, or is that frowned upon by potential future employers?

EveT

PM me your email address and Ill email you

androma

I was the same as you except from a law background. Never did accounting.did cap one on my own. passed 2/4 cap1 first attempt, got other 2 on repeat. Got apprenticeship then.Cap 1 is definitely do-able having zero experience,in cap 2 now, split the year into 2 modules as It is tough to study with work, stuff harder but feel everybody is roughly in the same boat, I would say go for it.

doctordolittle

EveT wrote: »

CAP 1 are ok, have you any background in accounting? like I mean even leaving cert?

CAP 2 are TOUGH! I fairly sailed through CAP 1 but I can tell you I havent studied as hard since my leaving cert until CAP 2, I got 74,70,68 and 51, and I mean that took A LOT of sacrifice and study but I did pass them first time.

On FAE now so cant comment yet!

Not to put you off, but so far CAP 2 have been the tough ones

Did you not find the medicine degree exams tough?

Marcusm

pcaca wrote: »

Thanks for that information.

I have no accounting background whatsoever. All my education and work experience is in engineering so I'm starting from scratch with accounting. I was under the impression that CAP 1 exams were designed to get people from non accounting backgrounds up to speed. Is that the case?

Are there generally many people from non accounts backgrounds on these training schemes?

Also, is it a big deal if you don't pass all the exams first time? If you pass 3 in May and 1 in Sept, or is that frowned upon by potential future employers?

Are you a recent graduate or have you been working in engineering for a long time such that you are less used to studying/doing exams?

Plenty of "non relevant" graduates in big 4 and other firms. Merely asking the question about not passing the exams at the first sitting would be a big no no. If you have an analytical mind and can apply yourself, you should have the capability of passing.

pcaca

Thanks for that information Marcusm. I finish my engineering studies in the past 12 months so I'm still fairly used to doing exams, hopefully that shouldn't be a problem for me. I'll have to work hard to get upto speed but studying has never really been a problem for me. I only went back to study engineering in 2007 as a mature student. I'll probably be 5/6 years older than most people doing the training scheme, is this very unusual for aca training schemes? A number of friends of mine who have become accountants went down the ACCA route. Would this be better for me or is a Big 4 name on the CV more important?

statss

Hi pcaca,

I am in a similar position - thinking of retraining as an accountant and have applied to the Big 4 for trainee contracts. How did you find the recruitment process to earn your training contract? I was thinking my work experience would give me an advantage over fresh graduates, but I don't have any accountant training/ experience.

pcaca

Hi Statss,
Previous professional experience went down well in the interview. I had worked with a management company for a few years during the boom before going back to college to do my degree. The combination of experience and maths based degree was impressive to them. The interview process was application form, phone interview and assessment day. That is pretty standard I think. Overall it was fine.
Whats your previous experience in? It should stand to you no matter what.

statss

I have 5+ years in account management / sales, and graduating with a Masters in Strategic Management this June, which I did part time. Fingers crossed I get the call. I don't really fancy studying the ACA without a training contract.