I am looking into the ACCA qualification and am torn between signing up with provider and self studying alone. I am halfway through AAT level 4 and have already completed AAT level 4 taxation so I am of the understanding that i wouldn't sit the first three papers?.
Do any students on here self study ACCA without the aid of a tutor.
And you can still have the aid of a tutor via the free lectures on open tuition.
Use the Kaplan study texts for two months doing all of the questions in the study text. Then do a full exam a day for a month before the exam (either old papers or pick a mix of four questions at random from the Kaplan or BPP exam books which are old paper questions brought up to date).
Use an Excel spreadsheet to plan your time setting yourself realistic goals and ensure that you take one day per week off as its so easy to lose yourself in studies at ACCA level.
ACCA exams have a 50% pass mark but don't let that fool you. You will be writing to the end of the exam and like as not have only done half the paper. It is VERY time pressured so the exam practice to get that one point every 1.8 minutes is essential.
Early papers won't be any worse than AAT although ACCA phrase their questions differently and you will get used to having top read between the lines.
Later papers, espechially P5 and P7 (which idiot that I am are the two options that I took) have ridiculously low pass rates. You may be better going qith the advanced tax paper when you get to that stage... And maybe P7 which isn't so muych about audit as reading clients and understanding what the wee miscreants are attempting to get past you. Persoanlly I loved P7 but I didn't pass it first time... ACtually, my failure in that one almost saw me giving it all up as I really could not get past it... Then I realised that I needed glasses and the issue was probably that the examiner couldn't read my hasty scriblings. First sitting after getting glasses I passed!
Generally I advise people to sit the first three to get into the ACCA way of thinking but coming from AAT rather than any other qualification thats probably overkill. To check what exemptions are available to you see here :
hope that helps and good luck with your studies. Personally I loved it... Then when you've finished you can get an MSc. in Accountancy from University College London which counts as three years CPD.
Be careful though in relation to regulation 8 as no matter what other qualification you have, once you join ACCA you are part of the family and no other qualification matters so you would not be permitted to work past trial balance unless supervised even though your AAT qualification allows you to.
all the best,
Shaun.
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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.
Oh and Acowtancy is worth a look, although their constant emails drive me nuts (yes I know I could switch them off, but I might miss something good! Except just now I've got about 70 unread ones parked in a folder. Oops.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
lol on half asleep man. Think that my spelling gives it away.
I'm needing the red bull on introvenus drip at the moment!
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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.
Hi Shaun, I didn't know you could use Kaplan Study information so thank you!. Open tuition, free tutor! That's interesting.I have just signed up to Acowtancy as they keep popping up on another forum. Not sure if i want copious emails just yet seeing as i'm still completing AAT Level 4.
ACCA exams have a 50% pass mark but don't let that fool you. You will be writing to the end of the exam and like as not have only done half the paper. It is VERY time pressured so the exam practice to get that one point every 1.8 minutes is essential.
I do not do well with time pressure. This is most definitely my weakness and something i need to improve on. Although in hindsight i guess i will always stress over the time scale in a exam.
Papers P1 to P3. I know you say after AAT they're and overkill but i am thinking if it gives me a better/full understanding then that's a positive?.
Be careful though in relation to regulation 8 as no matter what other qualification you have, once you join ACCA you are part of the family and no other qualification matters so you would not be permitted to work past trial balance unless supervised even though your AAT qualification allows you to.
Working past TB is a long way off for me. Even at this stage in my AAT studies i don't feel confident in undertaking any work beyond TB because i have had no practical experience. Hopefully i can persuade an Accountancy firm to take me on voluntarily so i can gain the practical experience that i need.
