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Chartered Flexible Route

  • 28-09-2018 8:43am
    #1
    kilburn
    Registered Users, Registered Users 2 Posts: 3,912 ✭✭✭


    Hey Folks,

    Is anyone aware of any body who did or is doing this and how they found it?


Comments

  • #2
    tanit
    Registered Users, Registered Users 2 Posts: 325 ✭✭tanit


    kilburn wrote: »
    Hey Folks,

    Is anyone aware of any body who did or is doing this and how they found it?

    I think all the bodies have this type of training for people that are either not on a formal training contract in practice or work in industry.

    Chartered Accoutants were considered only for training contracts and it's the reason they have a separate section for something like this but the reality is that all the the bodies do have ways for qualifying if you are not on a formal training contract.

    I found out about the Flexible route making my research in the websites basically and then asking the bodies. It works pretty much in same way as being in a training contract the differences are:
    1. If not on a training contract your results will not affect your employment. If you are on a training contract and fail the exams they can fire you.
    2. In exchange if you are not on a training contract you do not get study leave so long as your employer doesn't decide to give it to you
    3. And if you are not on a training contract you will have to pay the fees yourself.

    Those are the main differences between the two options.

    Traditionally in Industry they don't train accountants but I think there are a couple of big companies (it kind of sounds familiar the Kerry Group but I might be wrong) are registered with Chartered Accountants and my guess other bodies to train accountants, they have a program for it. So with someone like that you can work in Industry and be in a training contract.

    Do your research, ask around.

    ITH


  • #3
    ruthy_2504
    Registered Users, Registered Users 2 Posts: 74 ✭✭ruthy_2504


    I am finishing the flexible route with Chartered so may be able to provide a little insight.

    There are benefits and limitations to either route, so it really depends on your own situation.

    Training Contract: As part of your training contract your fees are generally paid, and paid study leave outlined. There is an acceptable number of repeats outlined should you need them, but gives the firm the opportunity to let you go if you are clearly not putting the effort in, or genuinely not capable. The level of support within the firm offering the training contract is generally superior, but I'm sure will vary depending on the size of the firm you are in. Negative from my perspective is that training contract salaries tend to be poor. Chartered do provide guidelines for salary increases based on passing each set of exams, but as far as I know they are not binding,

    Flexible Route: Much more flexible if you forsee yourself moving jobs during the study time, as you are not tied down. Your benefit is that you will likely get a better salary as your study is independent of your job in reality. You may be lucky enough to end up working in a place that will support your study, with full or partial funding, and some degree of paid study leave. More often than not your study will either be unpaid or taken as part of your annual leave. This does leave you paddling your own canoe in terms of inhouse support, though Chartered should be able to assist with any issues that you have.

    If you have specific issues you're wondering about feel free to PM me


  • #4
    Sineadlu
    Registered Users, Registered Users 2 Posts: 12 ✭Sineadlu


    Hi there...just wondering if CA is very difficult to do? I’m interested in doing it, but am hearing that it’s very tough and worried I mightn’t be able for it! I’ve worked in accounts for 20 years, accountant technician done (2000)....


  • #5
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,598 Mod ✭✭✭✭Jim2007


    Sineadlu wrote: »
    Hi there...just wondering if CA is very difficult to do? I’m interested in doing it, but am hearing that it’s very tough and worried I mightn’t be able for it! I’ve worked in accounts for 20 years, accountant technician done (2000)....

    Of course it is difficult, it is a very responsible position with many people relying on your skills, why would it be otherwise. It does not really matter which accountancy body you go with, they all hold people to a high standard other wise they would not exist.

    That said don’t be misled by the pass rates, less so with the CA rates, but in many case it reflects people having a go while not being prepared properly for one reason or another.

    My advice would be to give it ago, but give yourself a reasonable chance of success by putting in the time. Else where you mention that you have a young family, so in that respect it might be better to go with ACCA as exam sittings are more flexible. Note I said sittings not exams.

    At the end of the day the worst that can happen is that you fail. But that is better than spending the next 20 years wondering what might have happened if you had given it a try.


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