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ACA credit for prior learning.. is it worth applying?

Hiya I'll be starting ACA with my firm in the next few months but was just wondering wither or not I should independently apply for exemptions from some ACA modules as my uni course isn't classified by the ICAEW

The problem is, as i covered 2 very basic modules in my management degree, from what i can see, it's possible for me to bypass the first Aca accounting module.

But because it was fairly basic, if I did bypass it, I was just wondering if it would be a limitation for later ACA modules? (Would advanced modules be based upon the knowledge/basic modules taught?) I don't want to get an exemption only to find, in the final few modules I don't have a clue what's going on becuase I bypassed the offical AcA material from the first term

Is anyone else planning on applying?

Reply 1

ThunderBolt

Hey
I did a related degree and will be getting exemptions from 3 modules I think. I am curious to know how well i have to know the subject matter, should I be brushing up in preperation?

Reply 2

HappyHupo

ThunderBolt

Hey
I did a related degree and will be getting exemptions from 3 modules I think. I am curious to know how well i have to know the subject matter, should I be brushing up in preperation?

Well I'm only going based on EY since I'm starting with them and I've read all the stuff they've sent through they say that if you have exemptions then you still have to go to college and study those modules - just as those without exemptions do - but you are not required to sit the exams for your exempt modules. If all the firms do this then you'll probably won't need to brush up....

Reply 3

ThunderBolt

HappyHupo

Well I'm only going based on EY since I'm starting with them and I've read all the stuff they've sent through they say that if you have exemptions then you still have to go to college and study those modules - just as those without exemptions do - but you are not required to sit the exams for your exempt modules. If all the firms do this then you'll probably won't need to brush up....

Thanks. I am glad, I wantto compound my knowledge in these areas even though i have done them before. :smile:

Reply 4

Tuen

OP

Nice... so except for the application fee of £60 per paper.., it's a win win situation?!

Although.. I'm not with EY, do you all think its standard policy amongst the big4 if we get exemptions we can still sit in through all the lessons?

Reply 5

Rachel1188

Which firm do you work for? At PwC those with exemptions still cover the material, if that's any help.

Reply 6

Tuen

OP

I'm at Deloitte, via Kaplan

Reply 7

JamieP

4

I believe that if you look on the ACA website, you have to have got 70+ in the exam component of relevant modules to qualify for the exemption. Don't know if this was just for my degree but it certainly ruined my chances!

Reply 8

ThunderBolt

JamieP

I believe that if you look on the ACA website, you have to have got 70+ in the exam component of relevant modules to qualify for the exemption. Don't know if this was just for my degree but it certainly ruined my chances!

It is degree/ institute specific. The criteria for my modules was 50% :smile:

Reply 9

Tuen

OP

I asked DTT and they just told me to contact ICAEW and ask them about wether or not I can still cover material??...

I noticed that you have to have a pass mark of 50% in all your degree modules too before you can apply.. thank lord my lowest was 52%

Reply 10

ThunderBolt

Surely not all modules as this would include unrelated ones? By all I would expect it to refer to all modules that entitle one to exeptions...

Reply 11

bt3

5

does ny1 know nything abt KPMG exemption policy??

are we allowed to take the lectures if we claim exemptions, etc etc

Reply 12

Tuen

OP

An update for DTT policy....

Apprently I can't take lectures if I get exemptions for any of the modules, I'll be assigned to fill vacant roles... I can request the notes but I got to study it myself...

By applying and gaining exemptions, it's assumed we have the knowledge and if unsure don't apply~

Pwc+Ey's policy is pretty neat I must say! :biggrin:

Reply 13

bt3

5

i think KPMG policy is similar to delloite.. my virtual buddy told me to make sure I get the notes and study them my self if i apply for exemptions..but not 100% sure

Reply 14

12many

GET AS MANY EXEMPTIONS AS POSSIBLE <-- i cant stress this enough when ure working full time and studying a challenging qual like ACCA etc you will be living for the day when you complete it and get that chunky payrise oh and get a your weekends/evenigs etc back

Reply 15

einsidan

This is probably a stupid question, but would a graduate with an MSc in Accounting and Finance be eligible for exemption in a few ACA modules?

Reply 16

Illusionary

19

einsidan

This is probably a stupid question, but would a graduate with an MSc in Accounting and Finance be eligible for exemption in a few ACA modules?

It'll depend where it's from - try this: http://www.icaew.com/index.cfm?route=146395

Thanks!

bt3

does ny1 know nything abt KPMG exemption policy??

are we allowed to take the lectures if we claim exemptions, etc etc

As mentioned, if you have an exemption you won't be allowed to go to college, though you can probably get hold of the learning materials in order to review the content in preparation for advanced stage. Well worth applying for any exemption available. No sense in making life harder for yourself :smile:

Reply 19

bt3

5

tks, i just wanted to confirm it.

hmm the thing is i can get 7 exemptions. which is a lot i think. Should I claim all of them ?? or just 3/4 ??

ACA credit for prior learning.. is it worth applying?

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