The Book-keepers Forum (BKF)

Post Info TOPIC: Can you become ACCA qualified with just the exams?


Member

Status: Offline
Posts: 22
Date:
Can you become ACCA qualified with just the exams?


Evening all, just looking through the ACCA website at their quals. Is it possible to achieve the ACCA membership without supervision? I appreciate I'd need to pass all the exams but I think I'd struggle to find someone qualified to supervise my work or give me practical experience. Looks like we're talking a good few years to get through the exams so don't want to waste my time if I can't get the experience. Thanks guys.



__________________

Simon Best



Senior Member

Status: Offline
Posts: 359
Date:

no not to stay s/e, only up to TB .

look at AAT instead?

__________________

Caron



Senior Member

Status: Offline
Posts: 359
Date:

covered on here LOTS



__________________

Caron



Forum Moderator & Expert

Status: Offline
Posts: 11841
Date:

Hi Simon,

filling out a few more details.

There are two different levels of supervision. You have a Student Training Record (STR) in order to gain membership and Practice Certificate Training Record (PCTR) in order to be able to practice.

The student training record needs three years experience. but its not smply a matter of being involved in accountancy for three years. You need to get specific areas of competence signed off.

- The experience requirement is split over 9 areas of competence consisting of 68 possible elements.

- You must get at least 12 elements of competence, including 6 key elements of competence from at least 2 areas.

Each element of competance needs to be detailed in the training records and signed off by a suitably qualified supervisor. In this instance suitably qualified does not necessitate a practicing chartered or chartered certified accountant. I have heard of cases of ACCA STR's being signed off by AAT accountants, or line managers who have a recognised qualification. At this stage whilst the manager concerned would be investigated by the ACCA to ansure that they are legitimate they do not have to be an accoual accountant. All of my own STR was signed off in banking. Managed to get 38 elements of competence signed off. biggrin

Now, the STR is quite often confused with the PCTR by people just starting out on this path.

The PCTR is an accountant training to be let loose on the public and one needs at least 4620 hours signed off over at least three years (I managed 6872 as I had finished in 2 years but still needed another years experience to reach the three to gain my PCTR!).

With this one there are 67 elements of competence and you are trying for as many as possible as this will define the services that you will be allowed to offer to the public. You must however gan at least the five mandatory elements, 8 technical including six key from at least two areas. Plus 2 management elements including 1 key element... In reality you will really need to gain far more than the minimum to be accepted.

The PCTR can only be signed off by a qualified accountant Chartered or Chartered Certified who runs an ACCA accredited training practice. It's free for practices to join but they open themselves up to a whole additional level of professional level scrutiny.

Your training record is poured over by the ACCA and it takes a lot to get the practice certificate. It's not just a rubber stamping excercise.

So, there are three places that you can get to.

ACCA Associate - you pass all of the exams inside ten years but have not gained gthe experience requirment

ACCA Member - you pass all of the exams inside 10 years and you have three years experience signed off in your student training record

ACCA Member in practice - after membership you gain your PCTR whic will take at least three years

Nothing against AAT but it is much, much. much easier to get to a practice certificate than it is with the ACCA.

What I will say is that ACCA training is second to none and if you can get to associate level then other professional bodies can be very accomodating about allowing you to swap over in order to gain their practice certificates. It would however take you a long time of a lot oof hours per week to achieve. I worked it out that I could get through an exam doing around 30 hours a week study for 13 weeks.

The pass mark per exam is 50% but the exams are VERY time pressured often with no points for things like calculations and everything dependant upon analysis and reading the questions written between the lines o the exam paper.

One other nice thing about ACCA is that because it is so highly regarded you get a lot of credit towards an MSc. with UCL (one of the worlds top universities) so after qualifying you can also get a few more letters after your name (takes about a year of very intensive work to achieve).

It was a struggle to achieve but to my mind absolutely worth it and I would not change the path that I took.

HTH,

Shaun... FCCA MIP, MSc.

(that last bit in corporate basically says, go on then, argue with me if you dare, lol).



__________________

Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.



Senior Member

Status: Offline
Posts: 155
Date:

Hi Simon,

What do you want a qualification for?

From your previous posts I understand that you are QBE, working as a bookkeeper, doing self-assessments for a few sole trader clients and looking to go full time self employed in the future.

If you are looking to go self employed doing bookkeeping and self assessments then ACCA would be an unnecessarily high level qualification for this as would all of the chartered level qualifications. I would also say that ACCA is too high level a qualification for this.

If I have understood your career goals correctly, then I would suggest Institute of Certified Bookkeepers. Do their core qualification and the additional Diploma in Self Assessment Tax. There are no experience requirements to the qualification.

If you still aspire to higher level qualifications then you could consider:

Association of Accounting Technicians

Institute of Financial Accountants

If you still want to consider a chartered level qualification then Chartered Institute of Management Accountants could be an option. I understand that clients can sign off your experience, however, as with ACCA, experience must be gained over a defined period of time and covering specified areas of experience.

AAT and IFA also have experience requirements that need to be satisfied.

Hope that helps,

Kind regards,

David.



__________________


Member

Status: Offline
Posts: 22
Date:

Thanks Shaun and David for the detailed replies, thanks so much for the advice and taking the time to reply. Certainly given me food for thought. Whilst I'd love to become chartered, the type of business I'd like to run is more smaller scale, ideally lots of small business owners helping with end of year accounts, tax returns and bookkeeping. The ICB sounds interesting and then perhaps moving on to AAT if thats possible.

Interestingly and rather spookilyI've just had a speculative conversation with a local accountant who's looking for a part-time bookkeeper. Around 30 hours a week which would give me time to study. Possibility to move over to the accounts and tax side in future. No numbers mentioned yet so might be a no go if the income side doesnt work, but a possible route.



__________________

Simon Best

Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  

2007-2019 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: info@bookcert.co.uk.

Privacy & Cookie Policy  About