Help needed! ACA or ACCA?

jus_tin4

Im currently trying to decide on which one to go with? Im very confused as to what the differences are and which one is actually best?

I have read the sticky which was very helpful but with al the information in the word, I just want the bare fact tbh....

I have just finished a finance and accounting degree, currently have a 2.2, from N.U.I. Maynooth. Waiting on repeat result for exemption purposes and if all went well to bump my grade to a 2.1

Anyways, any help would really be greatful! Currently really looking into aca elevation programme as someone told me its the best abroad.... but someone else told me acca hence the confusion....

smcgiff

The general perception is CAI (formerly ACA) coming from the big 4 and perception is normally/always? right.

Personally I'd prefer someone that started out as either ACCA or CAI outside the big four to get a good all rounder.

jus_tin4

So would there be much difference in doing either? or why would someone choose CAI over ACCA or vice versa?

kilburn

Have you considered CIMA

jus_tin4

not really! would you recommend it?

kilburn

Really depends on your career path, do you want to work in industry or practice?

jus_tin4

practice i think.....i dont really understand what is the exact difference between the two....sorry for lack of understanding...

The Big Red Button

jus_tin4 wrote: »

Currently really looking into aca elevation programme as someone told me its the best abroad.... but someone else told me acca hence the confusion....

I've always heard that ACCA is the most recognised qualification worldwide - but, to be honest, once you're qualified I can't imagine that it would hold you back at all if you qualified through a different body. Your work experience will probably be much more relevant.

My advice would be to focus on getting a job - as, as far as I know, you need relevant work experience to qualify with either body. And it's probably best to be quite flexible when doing interviews about which exams you want to sit.

In general, accountancy firms in Ireland will prefer you to do ACA, whereas if you're working in industry ACCA will be the preferred option. It may be easier to get a job in practice, but you'll be on much less money (but with much better exam support.)

ACCA would definitely be my own choice. More exam sittings in the year, more structure and consistency with exam papers, better exam support material, better lectures, more recognised worldwide, less drama and politics involved (the ACCA system seems far more open and fair - and it would have to be, as the exams are run on a global level, not just locally.) This is based entirely on my own observations, from having sat several ACA exams (as have many of my friends/colleagues), but I also know several people doing the ACCA exams, and my opinion is based on their experiences, too.

IATI might be another option for you to look into, and it will get you some exemptions from ACA/ACCA exams. However you'll still need some relevant work experience in order to qualify as an accounting technician.

cson

You need to ask yourself a number of questions that'll determine the qualification you should pursue;

Do you want to work in practice or industry?
Do you want to work abroad? If so, can you narrow it down to specific countries?
What way are you best suited to exams?

A lot of people profess the 'travel' thing as if its some kind of adventure around the world but the reality of it is that unless you're proficient in a foreign language then your options are limited to UK, USA, Australia and Canada and possibly the tax haven countries - Caymans/Jersey/Gibraltar. Not saying you couldn't make it work in another country but for the majority the travel thing is a fanciful notion expounded to make the job more exotic.

If you're staying in Ireland, rightly or wrongly, the CAI qualification is held in greater esteem by and large - possibly I would suggest due to the higher barriers to entry than ACCA. You can also get mutual recognition with the US CPA which would be a major thing if you intend travelling to the countries above [that being said, there is a process to that too that isn't exactly a walk in the park].

Ultimately its up to you and where you see your career heading - if you haven't any idea I'd figure that out before you choose what qualification to pursue.

Pauvre Con

chatterpillar wrote: »

IATI might be another option for you to look into, and it will get you some exemptions from ACA/ACCA exams. However you'll still need some relevant work experience in order to qualify as an accounting technician.

But you'd probably get more exemptions with a finance degree and certainly you'd be excepted into a chartered body so doing an accounting technician is a wholly unnecessary step. The quickest route is definitely the best!

jus_tin4

At the moment im unsure whether i want to work in practice/industry, as i found both management and tax both very interesting..... i am at the moment learning towards taxation.... regarding working abroad it would be america/australia that i would most likely be interested in as im not much of a language type of person...i would like some flexibility in exams but if it means giving that up for a better qualification then i would...... im currently starting a music course in Ballyfermot( a hobby of mine but i just would like to do this course in the mean time before becoming a grown up )
but i am looking at doing some of the exams over the time as the music course wont be too busy unlike the finance and accounting degree

EveT

I chose ACA because there was more student support there regarding study leave etc, I know a few people who havent passed an ACCA exam since i started ACA and have maybe 2 Ps left to do. Other hand FAE with no requirements is tough, CAP 2 4 exams at once is tough....

No one can tell you which to do, most people will think the one they did was the better one to do! Some people (sitting FAE) will say def do ACCA!! ACA open book after year 1, good and bad!! maybe talk to someone whos done ACA and someone whos done ACCA and ask them the samed Qs! no one (I presume) has qualified from the bottom up in both, so no one can really fully compare the two!

KingEnda

The problem with ACA is the animal of a case study that makes up the FAE. Its very different to anything I have seen before and preparing for it is a massive task. The ACCA exams seem to be more traditional

Prettyblack

KingEnda wrote: »

The problem with ACA is the animal of a case study that makes up the FAE. Its very different to anything I have seen before and preparing for it is a massive task. The ACCA exams seem to be more traditional

That's why so many people find it hard, because they are not used to it.

I chose ACA (CAI is just short for Chartered Accountants Ireland - ACA is still the designation) because it seemed the best from a support point of view, and also because I liked the academic model (mix of lectures and online).

Also, I am in industry - and ACA is gaining ground there, soon to be on a level with ACCA I reckon. The great thing is, there aren't as many ACA trainees in industry, so I am in a fairly unique position where I am as one of the few ACA trainees. I know the managers in my place are all ACA and I hope they have their eye on me for when I qualify!

jus_tin4

would gaining experience in industry stand to me if i moved to practise or would it be completely different? also if i started either aca/acca and did some of the exams and then went to get my experience would this be a hindrance for companies to employ me if say they were aca affiliated? thanks for all the help!

Prettyblack

jus_tin4 wrote: »

would gaining experience in industry stand to me if i moved to practise or would it be completely different? also if i started either aca/acca and did some of the exams and then went to get my experience would this be a hindrance for companies to employ me if say they were aca affiliated? thanks for all the help!

Industry experience would be different from practice alright - there'd be no auditing to start with. But wouldn't you want to stay in industry if you'd trained there?

I don't think it would be a hinderance - I know certain ACAs prefer ACA trainees but that doesn't mean they don't have ACCA trainees as well - in my company there's a mixture of both, yet the directors are ACA. I think that bodes well for people doing ACA, but I don't think it would necessarily stand in your way.

My attitude is, the company you really want to work for - see what they have at top level managment, and aim for that as well. In my case - ACA.