Facing CPA P1 - But should I continue

Hmm_Messiah

I know people wil say this is a decision only I can make, but am hoping some people might be clued in to the benefits or not of continuing.

I did IATI, then this May Formation 2 with the CPA . I found it a struggle partly time wise as I was doing other courses but also for two reasons:

1. a lecturer was awful, and so I had to learn the course in the last weeks working from exam solutions and going backwards

2. I work in the accountancy area but nothing hats relevant to my studies. I could relate none of this years courses to what I was doing on a day to day basis. The Financial Controller here keeps suggesting we could alter my duties but not sure thats practical in the environment I'm in - but we could push for it to happen.

The thing is I am not 100% enthused by being an accountant and wonder is it right to 2 more years. I would do if it was recognised as a qualification on the Hetac framework but it isn't. I enjoy some of the syllabus, and would see it benefitting me in some business capacity later. but other people on these course seem so motivated and interested.

Any one any ideas/

I was thinking of taking a year off to sort things out, including some things in my personal life (mortgage, health etc etc etc)


would I be better trying to get P1 under my belt and then have "only" P2 to tackle if I took a break?

Is 4 subjects P1 doable ? What are peoples experience of the course? I am what you would call bright , but get frustrated when the course work is so removed from what I do daily.

If I switched from CPA would I get credits for some of the other bodies. the nearest CPA course is in Carlow IT, and it was poor this year.

And am i mad doing the course- I've never once wanted to be an accountant, definitely not in practice, but if it benefitted me in business I would be interested .

A guidance counsellor suggested doing it and then teaching it , I tutor other subjects at the moment. But I'm not sure about that .

Over the years in the accounting side I would mark around the 60% , in law etc maybe 80% - I think again in part because the practical portion of accountancy is something I only do within the context of the course, and in the case of Cost Accounting only for the exam as the lecture never ever did any practical / exam type problems.

I know I am asking alot, but any suggestions opinion would be appreciated

shewasoctober

Do you enjoy your job but hate the CPA course? If so, I would consider studying with a different accountancy body, especially if you plan to stay in the business field (just my opinion). Many of the top people in the business world have an accountancy qualifications. If the one you do is recognised by HETAC, it might be worth it.

ICAI:

HETAC
22 Sep 05 | HETAC recognises the award of Associate of the Institute of Chartered Accountants in Ireland (ICAI) at Level 9 on the National Framework of Qualifications

HETAC, the Higher Education and Training Awards Council, today (Thursday 22nd September) formally recognised the award of Associate of the Institute of Chartered Accountants in Ireland as being at the standard of a Level 9 award on the National Framework of Qualifications (NFQ). A Masters degree is also placed at Level 9. Read more.

Exemptions
With the IATI completed, you will receive CAP1 exemption from the ICAI. Also, if you visit the IATI website, you can receive exemptions from 2 other papers with the right score, as of 2007 (the 08/09 haven't been released). As for CPA exams completed, you will have to speak with someone at the ICAI.

Note: The closing date for the registration/exemption form for the ICAI is this Friday, August 1, 2008.

ACCA:

HETAC:
21 Jan 2008
ACCA has been recognised as an official awarding body by the Irish educational regulatory authorities - Higher Education and Training Awards Council (HETAC).

HETAC conducted a full quality assurance audit of ACCA's registration, assessment, and information systems, and has assigned the ACCA Qualification to Level 9 of the Irish National Qualifications Framework (NQF). Level 9 holds Irish postgraduate qualifications, such as postgraduate diplomas and masters degrees. Read more.

Exemptions
The ACCA offers exemptions from F1-F3 for the IATI. You will receive more based on your exams passed with the CPA as well. Click here.

Note: The ACCA is more flexible with applications. However, you need to be registered with them before you register for a course. Also, you have to meet the exam registration deadline. However, you can submit and application for and exemption form year round.

As for transfer of experience gained, I don't know how that works, but I'm sure since the CPA required you to keep a log, that it won't be an issue.

Hope this helps. Best of luck.
Cheers!

Galdonagh

I can understand your frustration at the CPA P1 level. I myself am 41 now and have 1 last chance at P2 AFA ( any help gratefully accepted). I too did the IATI, would not consider myself to be the brightest spark but I have had to do the study on my own as there is no college near me doing the courses. I too found a lot of the topics irrellevant to my day to day accountancy work but wanted to get the qualifacation for myself basically. I would say that it depends what age you are. If you are in your twenties then I would say go for it. I took a year out myself after IATI to get married etc and I now have 2 kids as well so time is a major issue. I would never be working to the level of questions in exam. Personally I think that not enough emphesis is placed on your ability to do the job in practice as opposed to the exam situation. I myself had marks of 44, 46 & 45 in my 3 sittings of AFA but no one knows how good I am at my job. If you were at college & the lecturer was marking you paper then they would have a better idea of your ability. I know it is the same for everybody but that is just my wee rant for the day. I would say stick at it. I sat all four P1 & P2, took 7 weeks off work and studied as best I could and got 3 the first time around so yes it is dooable. Keep doing past papers, seems to be best way really. An accountancy qualification is not something to be sneezed at. You could then think about doing the tax exams. Of course it all depends where you see yourself but if you are young, believe you me 2 years is not a long time. Imagine in two years time you could be qualified as an accountant. Try to be positive, you know you can do it and when it is done it is done. Just my opinion. Best of luck with your decision.
Kevin