Coming to the end of my HNC Accounting course and I can't go back to study full time next year. So... I was thinking of going onto whatever level of AAT is appropriate - a college in Glasgow told me that I could start at level 3 and study at night...
However, I am drawn to study with CIMA. A rep from their recruitment team came to my college and said that with an HNC we can get an exemption from the first level... looking at their site whenever I put in my college name and then HNC Accounting into the exemptions page, it comes up with nothing. When I put in AAT it comes up with an exemption for the first level of CIMA for AAT level 4...
I'm just really confused, I want to go onto something else after my HNC but I don't want to go over old ground...
I know I should contact CIMA direct when I have my HNC certificate, but was just wondering if anyone here has any knowledge of what the HNC is equivalent to, if anything?
Before contacting CIMA look at all of the alternatives.
You have identified AAT and CIMA but I notice no mention of ACCA.
After an HNC you will find that you are very much covering the same material although in different ways with the AAT studies which to my mind are at about the same level although the AAT qualification is much better recognised by employers. (That's not to say that the HNC is not a great foundation, but you see job ad's for AAT qualified, not HNC qualified).
If you are looking to move onwards and upwards rather than more sidewards then you really need to be looking ar CIMA or ACCA.
CIMA is currently going through a transition stage as it's moving away from the CCAB bodies such as ACCA, ICAEW, ICAS etc. and has joined up with an American equivalent institution instead.
It used to be that many people took the CIMA qualification and then transferred to full membership of the ACCA as this was seen as a more costs effective and somewhat easier route to ACCA membership but the ACCA has now stopped this and (I think somwhat insultingly) CIMA members can only gain exemptions from the fundamental ACCA exams rather which I am assuming are the same exemptions that you would be able to gain with an HNC in accountancy.
Just something to be wary of there. Its not that the CIMA qualification is a bad qualification at all, it's an exellent one in itself. Just that you may get caught in the inter body flak caused by CIMA leaving the party if your intention was to move on to the ACCA.
CIMA gives you much more flexibility in what you can and cannot do than ACCA which really restricts it's students via regulation 8... But many accept this on the basis of the golden carrot awaiting any who can get through the burning hoops to achieve those elusive letters and for the select few an ACCA practice certificate.
I think that posting here was the right approach as you get opinions of all bodies rather than having to weigh up what the bodies that you contact are not telling you.
Your first move now should be to sign up for PQ magazine which is free and delivered monthly. Go through some back issues and old news on line here :
http://www.pqmagazine.com/
From this you will get a real feel for the body that is right for you (espechially from the letters pages!). And that should make it easier to make an informed decision rather than listening to the often out of date advice of college careers advisors,
Good luck in your decision and don't forget to keep us all posted as to your decisions and progress,
kind regards,
Shaun.
P.S. before any CIMA members jump on me, read the above again. it's not anti CIMA or derogatory towards the qualification at all. It's simply stating facts.
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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.
I'm going to be in a similar situation soon, with my final exam just weeks away now. Having weighed up the alternatives I think I'm going to return next year for the HND then hopefully get into the 3rd year of the degree before making any decisions about bodies.
I'm starting the HNC Accounting in September part time evening whilst continuing with my ICB studies. With regard to AAT the following link might be useful.
This confirms that with SQA HNC accounting you can go on to level 4 with only two exams in Level 3 to complete. With HND only two exams in level 3 and one or two in level 4.
Just for information. The AAT L3 Cash Management module is a pretty small module tha can be completed quite quickly. The professional ethics is compulsory whatever level one enters at.