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Should i pursue ACCA P exams while waiting for CAP2

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  • 10-05-2021 11:32am
    #1
    broccoli123
    Registered Users Posts: 13 ✭


    Hi,
    I am about to graduate from BA Accounting & Finance in the fall. Will be starting a 3.5 year training contract with ACA this fall, as part of a graduate programme. From what i have seen via ACA web page i would only get exempted off CAP1 exams, and my CAP2 modules will probably start in the second year of my graduate programme. That will leave the CAP2 exams in spring 2023?, which is 2 full years away.
    I just completed my Audit and Assurance, and Financial Performance level 8 exams within the last few weeks, for which I studied quite a bit and expect good marks in turn. Both are part of CAP2 exams and ACCA Professinal exams. I should get all 9 Foundation exams exempted in ACCA. I am curious if i should apply for ACCA membership and do Audit and Fin. Performance professional exams within the next year, just so i make use of my prep and knowledge on the subjects and potentially get both ACCA and ACA certifications. While my course and exams with ACA will be covered by my employer, if i do parallel ACCA exams i would probably fund them myself.
    I would appreciate some tips from people working in the field as my knowledge is limited. Thank you in advance.


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    #2
    DmanDmythDledge
    Registered Users Posts: 883 ✭✭✭DmanDmythDledge


    There's not much benefit of doing ACCA on top of ACA, if not none. You would be able to start CAP2 in year 1 of your training programme so would be doing them this time next year.


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    #3
    [Deleted User]
    Posts: 3,505 ✭ [Deleted User]


    I'd agree with the other poster. Unless you have a very good reason for needing both qualifications, I'd strongly advise against it.

    They're basically equivalent, so theres no need to do both. ACCA slightly easier to get internationally recognised, but ACA is sometimes vaguely stronger currency with ACA-qualified old boys club types, who might be a potential employer when you come out of contract. But 99.9% of the time it really wont matter which you have.

    It might not seem like a lot of extra work because the content is the same, but trust me, it would be almost double the work to do both. Training contracts can be very intense, the last thing you need is another drain on your time.

    Plus, as noted, in most companies you'd start the CAP2s in the first year of your contract.


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    #4
    broccoli123
    Registered Users Posts: 13 ✭broccoli123


    Thank you both.
    I will link in with my employer and if i can start CAP2 subjects this year, then its alright.
    Appreciate the responses.


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