Finished 3 year ACA with PwC Audit Dept - ask me anything Watch

akash11
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#241
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(Original post by alibee)
You cannot be awarded an ACA without 3 years of relevant experience. So even if you pass your exams early, the qualification takes 3 years.
Can you complete the required experience in less years, you required to 450 days can you complete that in 2 or 2.5 years?
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alibee
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(Original post by akash11)
Can you complete the required experience in less years, you required to 450 days can you complete that in 2 or 2.5 years?
No! You must have 3 years experience before your ACA is awarded.

I'm not sure why you're so desperate. Your training contract will give you enough time to complete the qualification.
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novadragon849
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(Original post by alibee)
No! You must have 3 years experience before your ACA is awarded.

I'm not sure why you're so desperate. Your training contract will give you enough time to complete the qualification.
No you don't need 3 years experience. It's just that most training contracts lasts 3 years. The guy is right in saying that you only need 450 technical days of experience and that indeed can be done a lot faster than 3 years.

Most people in my firm has met that requirement in 2 years with some at 2.5 years...however they didn't manage to get their training files signed off by the partner until the 3 years was up because that was part of the contract they agreed too...so arguably you're right but technically you're wrong
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alibee
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I don't understand what you're arguing about. Clearly it's possible to do 450 days of relevant work in less than 3 years. However, you must complete the time on your contract.

You will not have your ACA awarded before the 3 years. It's not your friend's firms being mean not signing them off. Unless you have experience exempting you from the final year, you will not be given a contract of less than 3 years.

This is on the ICAEW website for example:

Q. I’ve completed 450 days of TWE, do I need to complete my three year
period of training?
A. Yes, you are not eligible for ICAEW membership without completing both.
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ACA2014
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What advice would you give someone who's due to start their ACA in September? Many thanks
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max3sep
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#246
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Hello,My name is Mustafa Hussain and I am currently studying BA(hons) Accounting and Finance at De Montfort University.I am an international student from India, but I want to clear all my ACA papers in UK. So is it tough to get tier 2 sponsorship from any of the ACA training agreement companies. I want to pass my exams and work 450 days to complete my practical experience.thank you
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Graduate_1990
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Hello there, I'd just like to find out how many prior learning credits I could obtain from my undergraduate and postgraduate degrees? I am aware that this is based on a case-by-case basis, however what is the maximum exemptions I could apply for? I hold a BA (Hons) Accounting and a MSc. Strategic Accounting & Finance. None of my degrees are listed on the ICAEW's database. I have covered most of the certificate/professional level exams either directly or indirectly for example: law, taxation, auditing, financial management, financial reporting, management accounting etc. Thanks
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Max9708
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#248
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Once you successfully qualify with your ACA was there the opportunity to switch into a different area of PWC? Did you hear/know of anyone who switched from Audit to another area such as a management consultancy?
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shosho1
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#249
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Hi ive got an internship this summer with a big4 in london for audit. I was wondering if i get a job offer at the end of the internship, would it be wise to ask for a deferral for a masters or wait until i have qualified? If its better to do masters pre-qualification what area would benefit me the most? Im currently 2nd year economics student on track for a 2:1
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Tokyoround
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(Original post by shosho1)
Hi ive got an internship this summer with a big4 in london for audit. I was wondering if i get a job offer at the end of the internship, would it be wise to ask for a deferral for a masters or wait until i have qualified? If its better to do masters pre-qualification what area would benefit me the most? Im currently 2nd year economics student on track for a 2:1
Main question is why do you want to do a masters? in the majority of cases a masters is a waste of money. Your ACA qualification is a level 7 qualification anyway, the same as a masters.
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snakesnake
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(Original post by shosho1)
Hi ive got an internship this summer with a big4 in london for audit. I was wondering if i get a job offer at the end of the internship, would it be wise to ask for a deferral for a masters or wait until i have qualified? If its better to do masters pre-qualification what area would benefit me the most? Im currently 2nd year economics student on track for a 2:1
I would say that a masters is quite useless in the field of accounting and finance. I work in Big 4 audit and very few people have a masters degree.

In finance professional qualifications (ACA, CIMA, CFA) are far better and will open way more doors than a masters will (which makes little to no difference when applying for jobs).
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Mikesta
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(Original post by Tokyoround)
Main question is why do you want to do a masters? in the majority of cases a masters is a waste of money. Your ACA qualification is a level 7 qualification anyway, the same as a masters.
I disagree with this statement. It ultimately depends on where you decide to go in the future. Clearly if you decide to stay in Finance, professional qualifications are more important and you do not need a masters to excel in that field. On the other hand, you have to consider the fact that a large proportion of people leave the big 4 after qualifying. Now depending on the field you wish to go into, your masters can definitely give you an edge. I have seen jobs at Associate level that require a masters. The bottom line is, because you don't use your masters today doesn't mean that you won't use it tomorrow.
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M1011
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(Original post by Mikesta)
I disagree with this statement. It ultimately depends on where you decide to go in the future. Clearly if you decide to stay in Finance, professional qualifications are more important and you do not need a masters to excel in that field. On the other hand, you have to consider the fact that a large proportion of people leave the big 4 after qualifying. Now depending on the field you wish to go into, your masters can definitely give you an edge. I have seen jobs at Associate level that require a masters. The bottom line is, because you don't use your masters today doesn't mean that you won't use it tomorrow.
Should probably plan that in advance then rather than taking a £20k punt on a 1 year commitment for a masters that may or may not be useful in the future?

You're undoubtedly right that there are specific cases where it would be useful to have a masters, but in the vast majority of cases people barely care about your masters compared to your bachelors, let along if you have an ACA on top of it. Particularly in the case of shosho1, if they have a solid job offer at the end of their bachelor, it would make far more sense to take it and then subsequently do a masters afterwards if they actually find they need it.
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Mikesta
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(Original post by M1011)
Should probably plan that in advance then rather than taking a £20k punt on a 1 year commitment for a masters that may or may not be useful in the future?

You're undoubtedly right that there are specific cases where it would be useful to have a masters, but in the vast majority of cases people barely care about your masters compared to your bachelors, let along if you have an ACA on top of it. Particularly in the case of shosho1, if they have a solid job offer at the end of their bachelor, it would make far more sense to take it and then subsequently do a masters afterwards if they actually find they need it.
Yes I agree with that point but you are making slight exaggeration on the cost of the masters programme. I am currently study Msc Economics at the University of Nottingham and my fees are £5600. London Universities may cost that much but not all. I start work in PwC in September and I know that there are other areas not specific to accounting that I would like to get into so I guess I am referring to my logic and plans.
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M1011
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(Original post by Mikesta)
Yes I agree with that point but you are making slight exaggeration on the cost of the masters programme. I am currently study Msc Economics at the University of Nottingham and my fees are £5600. London Universities may cost that much but not all. I start work in PwC in September and I know that there are other areas not specific to accounting that I would like to get into so I guess I am referring to my logic and plans.
Fair play, but 5k fees + living costs whilst taking in to account potential lost earnings for a year you could have worked... £20k looks like it might be on the short side!
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Tokyoround
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And besides, a masters in economics isn't going to help you much more in financial services than the ACA. Unless you intend to go into politics or academia.

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snakesnake
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(Original post by Tokyoround)
And besides, a masters in economics isn't going to help you much more in financial services than the ACA. Unless you intend to go into politics or academia.

Posted from TSR Mobile
Yep. For finance, an ACA/ACCA/CIMA/CFA is miles ahead of a masters. In fact I've ran into very few people who have done a masters working in finance and I would personally never do one as I see no benefit from it.
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Jizai90
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Hi,
Im planning to take bs in september sittings but i have heard that the sittings for aca is the hardest to pass in september, is it true?
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M1011
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(Original post by Jizai90)

Hi,
Im planning to take bs in september sittings but i have heard that the sittings for aca is the hardest to pass in september, is it true?
What has that got to do with this thread? It just won't die!

No of course it's not true.
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rock_climber86
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(Original post by chris_harvey)
Hi all,

I started training for my 3 year ACA in Oct 2007 with PwC London in their Audit Dept and managed to qualify in Oct 2010.

If anyone has any questions feel free to ask me

Why I am doing this? I guess I might as well put my 3 years to some use! hehe (currently self employed and not using my ACA atm)

Chris
what was the starting salary, and what were you on in oct 2010 when you qualified.

Also is it boring (the theory and exams and job?)
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