EY Grad Scheme - Preparation for ICAS examsWatch
I am starting the EY audit grad scheme in September 2018 and before I start I was hoping to prepare/start learning for the ICAS exams I will be taking once I am at EY.
Are there any SPECIFIC books EY/ICAS use? As I am keen to start studying before I join and have a good understanding when I join.
Thanks for any help
I suspect what you ought to do in the meantime depends on your existing knowledge, if you are not a relevant graduate I would start with learning basic double entry and move on from there, most introductory books will likely assist.
Financial and Management Accounting: An Introduction Paperback – 19 Nov 2015
by Prof Pauline Weetman (Author)might assist, have not read the book but as Professor Weetman taught me a very long time ago if it is anything like the standard of her lectures/tutorials back then it will be well presented,No idea if it covers basic debits/credits, if these are unfamiliar you will want to really understand them first, being the foundation block of all accounting.Have a look at the syllabus on the ICAS website
If looking at say business law I have no idea what they cover these days, nor whether Scots or English variants are optional,but suspect it will be Contract Law Partnership Law, Company Law, Delict, Agency Law, Insurance Law and say Scottish Legal systems, do remember to take care as certainly Partnership and Contract are different in places North/South of the border, and Delict is very different to what is I believe Tort down South.
Business management and finance I always liked Samuels and Wilkes, now I think Samuel, Wilkes, Bradshaw, but you do want the basics of double entry and company accounts mastered first otherwise it will likely be confusing.
Cannot comment on what Audit texts will be useful these days, I must admit I found them woolly when I did actually read them and probably learned more from actually doing audits and poring over firm's audit manual at work.
Re tax, any basic up to date annual guide will assist, but take care as no idea what taxes are covered in the TC, also business tax uses accounts as the starting point so understanding accounts and accounting first would be sensible.
Maybe someone who is more recent re their studies will give you some better guidance.
If already past the basics already looking at FRS105 and FRS102 would probably be useful.
Do remember you are training to be an accountant not just to pass the exams, so any reading is useful, we were encouraged to read the institute magazines (though they appear these days to have little of substance) and articles in the FT etc can also build up your general background knowledge and understanding.