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Brand New to ACCA - Advice needed

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Brand New to ACCA - Advice needed

hi all

I am a newbie to ACCA, even at 37, I want to further my career but I have not followed up on further education until the last year.

I have never had a mentor in my career, and each time I've looked into continuing my education, I've been led down wrong corridors or have been mislead in what is required.

Can anyone help me in how this works, what I have to do next, how the exam structure works and studying ?

I registered in Feb18, paid my fee and applied for exemptions. I was told that i was exempted from 5 exams, but was told in the same email that i was no longer exempted from them as it's been so long since i finished Uni. At the time, work just got busy, and i was thinking that i didnt think i could do 14 exams straight.

Now with a bit of time I thought i'd come back and get some advice. While on my ACCA account i noticed that i have an invoice for $450 for exemption fees, and I am confused about this as I was never told there was a fee for doing a check. And just thinking about it, if i am not exempt why is there a fee ?

Any advice or help would be greatly appreciated.

Thanks.
Chris

July 5th 2018 AN ACCA USER 120 Points

8 Replies

0 Votes

Hi Chris,

Congrats on making the decision to further your education.

The ACCA website has a number of great resources that explain various paths one may take along the way to ACCA membership, together with guidance on exam structures etc.

If you still don't manage to find what you are looking for on the website, trying contacting ACCA Connect on +44 (0)141 582 2000. If you are dialing from outside the UK, there might be a local "shared call" number available in your country. I have found the ACCA Connect staff hugely helpful and were fantastic in reverting back to questions that they did not immediately have answers to.

The ACCA Connect team should also be able to provide you with more information regarding your exemptions. Make sure you have your student number available for them to verify you and access your profile.

All the best with your journey!

Mishern

July 5th 2018 AN ACCA USER 280 Points
0 Votes

Hi,

I think the time limit rule applies only to the date from which you register as an ACCA student. Maybe clarify with the ACCA over the phone. The below link may be helpful

http://www.accaglobal.com/us/en/student/getting-started/rules-and-regulations-for-students/time-limits.html

Fiona

July 10th 2018 AN ACCA USER 140 Points
0 Votes

Hi, hope you are doing well. Regarding the exemptions I advise you to contact ACCA through email i.e students@accaglobal.com you will get the appropriate response and with regards to exam preparation I suggest to you that use Kaplan Study text and Exam Kit for each exam. There is a structured approach given in each Kaplan Study Text. You just have to follow it

July 10th 2018 AN ACCA USER 700 Points
0 Votes

I don't know where you are working and for what purpose you are studying.If you are working as an accountant in a public practice firm, when you are studying F4 Corporate and business laws, F8 Audit and assurance and F7 Financial reporting, you will get smarter and better than your counterparts or workmates.
For instance, after completing F4 Laws(ENG), I improve myself on committing myself to work by trying to fulfilling the common law duties of workers and professionals in a country where there is no common law of Britain.In China, it is recently to adopt the new revenue standards and financial instrument standards.After completing F7, I will be more professional to understand the new accounting standards issued by China.
The process of studying for ACCA also improve my English level so that I can understand more by listening to BBC.And when I reading books, I am always imitating the BBC broadcasters' pronouncing style.
You can applying for giving up exemption so that you will be charged immediately so much and you have to work through all the courses.What's more is that if you don't give up exemption of some subjects,you will not be granted ACCA practice membership with audit report signing authority where admitted.

July 10th 2018 AN ACCA USER 140 Points
0 Votes

Hi Chris,

I started my ACCA experience when I was 37 too. I have never regretted my decision. And the knowledge that this qualification gives you is invaluable.
I was exempted from one exam only. And I took one exam per session. For the foundation level, you can buy the CBE tests on the ACCA web page to test your knowledge. I used Acowtancy classes for preparing and these were very helpful and time-saving since I never failed an exam. I used BPP kit for revising. You can also find a study buddy, so you can help each other preparing for the exam. Discussing the topics with other students helped me a lot, although it was not always easy to find a serious study buddy.

With respect to the exemptions I would suggest that you contact ACCA.

I whish you all the best.

Regards,
Marina

July 10th 2018 AN ACCA USER 440 Points
0 Votes

Hi Chris,

I was in the same situation as you when I started my ACCA journey. I too applied for exemptions and was exempt from papers F1 to F3 having completed my AAT exams some years ago. I too got a letter explaining that even though I had been given those exemptions it was more than 5 years since I became a member of the AAT and would need to take those exams if I wanted to get a practice certificate.

I therefore had a decision to make. Did I want the option of gaining my practice certificate? For me the answer was yes. This meant that I had to forego the exemptions and take the exams. I also felt that because it had been a really long time since I had taken any exams and gone to college it maybe easier for me to perhaps start from the beginning to get back in the swing of things again.

So with your exemptions you can still become an ACCA member and work in different sectors all over the world, but you won't be able to set up your own practice without a practice certificate.

In terms of the exemption fees. I did not get a refund because had I not have taken the exams I could still apply for ACCA membership. If you are thinking about taking the exams I would still contact ACCA about getting a refund, you might have better luck then me.

For me I feel I made the right decision although it cost me more time and money.

There is quite a lot of information on the ACCA website in regards to exemptions and what is needed to gain the practice certificate, but I would still contact the ACCA and talk it through with them if you are unsure, which is what I did initially.

I hope that helps and good luck with you studies.

Cathy

July 10th 2018 AN ACCA USER 140 Points
0 Votes

Hi…. Hope u r having a good day.

Some changes have taken place in the qualification but it is for the better. There are a number of partnerships between ACCA and other bodies that will make your journey to membership very rewarding.

Upon completion of the (applied skills) level 2 exams there is an option to complete a Bsc in accounting from Oxford Brooks University.... If you are awarded exemptions from the level 2 papers these papers will not be included in your rewarding of the degree and may result in a lower than would have been score.

Theres also opportunity to be apart of a Masters program with London School of Business when you have completed the level 2 exams. Any exemptions from applied skills(level 2) will not affect this option.

In regards to the query kindly email students@accaglobal.com. You can visit the ACCA website for further information on exam structures and opportunity.

July 10th 2018 AN ACCA USER 440 Points
Edited July 10th 2018 AN ACCA USER
0 Votes

Hi Chris,

You only need to pay the fees if you are exempt from those units, please check your ACCA account to see whether you are actually exempt from those units, if not, there maybe an error and you need to contact with ACCA office for correction.

Tom

July 11th 2018 AN ACCA USER 1,100 Points
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