Does it really take 6-8 years to complete the ACA/ACCA? Watch

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Barny
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#41
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#41
I did 1 weeks studying for the first three and passed them, I'm not sure I'm your typical student though. Most people do 15 hours per week for 2 months. So yes, if you started now you should be getting 100% come exam time.
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prospectivEEconomist
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#42
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#42
(Original post by Barny)
I did 1 weeks studying for the first three and passed them, I'm not sure I'm your typical student though. Most people do 15 hours per week for 2 months. So yes, if you started now you should be getting 100% come exam time.
Are you super clever? :p:
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Inter-Company
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#43
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(Original post by prospectivEEconomist)
Are you super clever? :p:
i very much doubt it as you really don't need to be super clever to pass the exams

it just depends on one thing - how good you are at remembering chunks of information, if your crap like me, start learning early but if you are good then you don't really have to start aggggeesss before the exam as you have a good memory
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prospectivEEconomist
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#44
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#44
I just spoke to a family member who is studying the ACCA and just completed their 13th exam. The person said that the ACCA is actually easier than an economics degree (in terms of intellect and rigor), but just requires dedication as you have to study after work which can be very tiring.
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whodunnit
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#45
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I have started at PwC and have completed my first 3 knowledge papers and just started my next set of 3 papers.
I disagree with the statement that all you have to do is learn big chunks of info.
You need ot learn technical aspects and principles and then apply them in a multiple choice speed environment (well at least the first 6 papers)
Not easy, but achievable if you put the effort in.
99% of those who just study a week before will fail.

Passmark is 55% but it is multiple choice at first and it is very easy to get snagged with time pressure and answers leading you up wrong paths.

It's not easy to get into a big 4 firm to do the ACA, they have harsh criteria and you need to be up there with the best.
I graduated in 2005 but worked for 2 years in my student union and then in the finance sector at Vodafone, so I had experience before I went in.
My colleagues fresh from uni are either accountancy/finance/economics graduates or very smart people from top universities.
So it's tough to get in.
Good luck guys

Oh yeah, I know nothing of the ACCA except it is classroom based, so you can pay to take everthing as much as you want, but with the ACA you can only do a maximum of like 6 sittings according to the institute ICAEW (though your sponsoring big firm will most likely only give you 2 or 3 attempts before they fire you if you keep failing or miss the pass mark by over 10% [bad fail] I know with PwC we get only 1 retake befoer your get the boot in knowledge papers)
Also with ACA you mix up college with actual client work, so the qualification is far better in that it is more practical rather than just classroom based.




(Original post by Inter-Company)
i very much doubt it as you really don't need to be super clever to pass the exams

it just depends on one thing - how good you are at remembering chunks of information, if your crap like me, start learning early but if you are good then you don't really have to start aggggeesss before the exam as you have a good memory
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Barny
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#46
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The multiple-choice exams are a new thing, I did mine all on paper.
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Inter-Company
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#47
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(Original post by whodunnit)
I disagree with the statement that all you have to do is learn big chunks of info.
You need ot learn technical aspects and principles and then apply them in a multiple choice speed environment (well at least the first 6 papers)
Not easy, but achievable if you put the effort in.
99% of those who just study a week before will fail.
well i disagree with that tbh

it may just be the caliber of colleagues one works with, when interning at KPMG I was mostly with graduates from Oxbridge, LSE and Imperial (1 or 2 few from UCL and Warwick) who found the exams 'easy' as they said it was just a lot of rote learning

whether or not that is the case generally at other big4 firms (as in whether they have as many top caliber students across the board) I don't know, either way the ACA or even ACCA is no walk in the park lol
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theis
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#48
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(Original post by whodunnit)
I have started at PwC and have completed my first 3 knowledge papers and just started my next set of 3 papers.
I disagree with the statement that all you have to do is learn big chunks of info.
You need ot learn technical aspects and principles and then apply them in a multiple choice speed environment (well at least the first 6 papers)
Not easy, but achievable if you put the effort in.
99% of those who just study a week before will fail.

Passmark is 55% but it is multiple choice at first and it is very easy to get snagged with time pressure and answers leading you up wrong paths.

It's not easy to get into a big 4 firm to do the ACA, they have harsh criteria and you need to be up there with the best.
I graduated in 2005 but worked for 2 years in my student union and then in the finance sector at Vodafone, so I had experience before I went in.
My colleagues fresh from uni are either accountancy/finance/economics graduates or very smart people from top universities.
So it's tough to get in.
Good luck guys

Oh yeah, I know nothing of the ACCA except it is classroom based, so you can pay to take everthing as much as you want, but with the ACA you can only do a maximum of like 6 sittings according to the institute ICAEW (though your sponsoring big firm will most likely only give you 2 or 3 attempts before they fire you if you keep failing or miss the pass mark by over 10% [bad fail] I know with PwC we get only 1 retake befoer your get the boot in knowledge papers)
Also with ACA you mix up college with actual client work, so the qualification is far better in that it is more practical rather than just classroom based.
Wait until you do the application stage exams, then you'll learn the meaning of time pressured.
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cogito180
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#49
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#49
Help Needed bros

i want to have your advice on the Optional papers ..i Want to do ICAEW after ACCA and i will give the last 2 papers in dec,i am confused b/w the choice of wether to take P4 or P6 i have taken P7 but i am unable to decide the other one ,i know that u get exemption in ICAEW after giving P6 on the other hand my aims are not clear at this time my main aim was to Qualify as an ACCA in dec 09..but after that i am blankless wether to do CA,CFA or ICAEW or to do MBA from a reputed university in UK.
Also i want to ask that if i dont take P6 and after ACCA and Internship i move to UK will that hurt me in geting a job?as i havent taken P6 that is UK Taxation ..Kindly guide me through this as..also if i take P4 then if i make my mind for ICAEW then i am willing to give ICAEW's tax paper..Kindly sir guide me about the Combination of P7 P6 and P7 P4 their pros and cons
Thanku
Kind Regards
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indianindianindian
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#50
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(Original post by cviji)
It all depends which route you go.

Go to uni and do an accounting/finance/business degree you will get some exam exemptions, in which case you could only have to do 5 or so exams. So that would probably take about 2 years for exams after graduation.

Go to uni and do a none accounting/finance/business degree you may not get any exemptions in which case you will be doing all, and your looking at atleast 3 years I would think.

Go in after alevels and your likely to have to do an AAT first for a year or so, get 3 exam exemptions and another 3 years or so after that to get qualified.

so for someone with say a Maths degree or management science degree, how long on average would it take ?
'
Im interested in becoming a management/strategy consultant
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Illusionary
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#51
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#51
(Original post by indianindianindian)
so for someone with say a Maths degree or management science degree, how long on average would it take ?
'
Im interested in becoming a management/strategy consultant
It'll be three years to become fully qualified, as you need that amount of practical work experience.
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Tednol
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#52
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#52
(Original post by indianindianindian)
so for someone with say a Maths degree or management science degree, how long on average would it take ?
'
Im interested in becoming a management/strategy consultant
The consultants at Deloitte do a basic level CIMA qualification and are all done within a few weeks of joining the firm. You don't need to go down the ACA/ACCA route, it'd be an over kill.
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Illusionary
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#53
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(Original post by Tednol)
The consultants at Deloitte do a basic level CIMA qualification and are all done within a few weeks of joining the firm. You don't need to go down the ACA/ACCA route, it'd be an over kill.
Fair point - perhaps I should have been clearer that my post above was referring to the ACA/ACCA/CA.
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456789
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#54
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(Original post by Tednol)
You don't need to go down the ACA/ACCA route, it'd be an over kill.
Unless you wanted to keep the option of going into areas such as Audit later on - though you probably wouldn't!!
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Tednol
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#55
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(Original post by 456789)
Unless you wanted to keep the option of going into areas such as Audit later on - though you probably wouldn't!!
Agreed. Audit is something you move out of rather than in to!
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spidey cobwebson
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#56
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(Original post by sammau)
Here's Mr Plum again.

Alright, if you're going to challenge my claim how come my exam timetable for the ACA is as follows?

Start date: April 09

Professional Stage Knowledge Modules
Accounting, Assurance and Principles of Taxation: May 09
Law, Management Information, Business and Finance: July 09

Professional Stage Application Modules
Financial Accounting, Audit & Assurance, Taxation: September 09
Financial Reporting, Business Strategy, Financial Management: March 10

Advanced Stage Modules
Business Reporting and Business Change: November 10
Advanced Case Study: July 11

So 2 years 3 months to finish all the exams. Then you are required to have a minimum of 3 years/450 days technical work experience which completes your full three year course to qualification.
Hello sir !
There are like 6,9,12 and 14 subjects package in ACCA,So if i chose 6 subjects,would it still take 3 years to be completed
?
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Daui
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#57
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#57
(Original post by Tednol)
The consultants at Deloitte do a basic level CIMA qualification and are all done within a few weeks of joining the firm. You don't need to go down the ACA/ACCA route, it'd be an over kill.
Wait. So studying for CIMA would be a good entry into management consulting?
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Big_Dave
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#58
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#58
(Original post by sammau)
Your training contract with a firm is 3 years and your exams are usually over with after 2 years. The remaining year is just to accrue the relevant work experience to gain the qualification.

7 years sounds like an extremely long time to still be taking exams!? I can't imagine the firm would be very pleased with your progress if it was taking that long. Does your friend have any special circumstances? Who do they work for?
Not with the ACA, you cannot sit your finals untill you are in the final year of your training contract, i.e the third year.
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Big_Dave
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#59
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(Original post by whodunnit)
I have started at PwC and have completed my first 3 knowledge papers and just started my next set of 3 papers.
I disagree with the statement that all you have to do is learn big chunks of info.
You need ot learn technical aspects and principles and then apply them in a multiple choice speed environment (well at least the first 6 papers)
Not easy, but achievable if you put the effort in.
99% of those who just study a week before will fail.

Passmark is 55% but it is multiple choice at first and it is very easy to get snagged with time pressure and answers leading you up wrong paths.

It's not easy to get into a big 4 firm to do the ACA, they have harsh criteria and you need to be up there with the best.
I graduated in 2005 but worked for 2 years in my student union and then in the finance sector at Vodafone, so I had experience before I went in.
My colleagues fresh from uni are either accountancy/finance/economics graduates or very smart people from top universities.
So it's tough to get in.
Good luck guys

Oh yeah, I know nothing of the ACCA except it is classroom based, so you can pay to take everthing as much as you want, but with the ACA you can only do a maximum of like 6 sittings according to the institute ICAEW (though your sponsoring big firm will most likely only give you 2 or 3 attempts before they fire you if you keep failing or miss the pass mark by over 10% [bad fail] I know with PwC we get only 1 retake befoer your get the boot in knowledge papers)
Also with ACA you mix up college with actual client work, so the qualification is far better in that it is more practical rather than just classroom based.
If you think the knowledge modules are time pressured....... wait until the application stage and finals, you have a massive shock!

You can blitz through the CBA's by just doing the question bank and not necessarily understanding the technical content, you will probably become a bit un-stuck at the application level though.

The only CBA that is time pressured is accounting, the rest are fine. Maybe MI and tax could potentially be. I finished audit and MI cba's in less than 25mins as did most of the people sitting it.

Studying a week before is very plausible for CBAs, just stick to the golden rule, answer the whole question bank three
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Boobies.
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#60
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Most people do it in 3 years with one of the main firms.
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