Quick question for trainee starting ACCA

seanieclarke

hi

just have a few questions,id really appreciate any help.


1) my exact course isnt listed on the ACCA's exemptions database, would i have to send a transcript of all my subjects to their office in scotland? how long would that take to sort out?


2) do trainees generally take their first exams in the december session or do they not study for the first few months so they settle into work easier and take their first exams the following june?


3) how many exams do trainees do in their first exam session? do they usually just do 1 or jump straight in and do 2/3?


4) lastly, if i was to do my first exams in the december session, how far in advance (early/late july, early august for example) of me starting lectures should i start in my new job so that im well settled in (presuming i have a choice of when i start working)?


thanks

seanieclarke

sorry thought of another question i had.

currently whats the minimum salary that trainees in practice are getting?

thanks

Avoiding Work

Hi,

I've just started the ACCA exams so I'll help where I can.

1) If you log on to accaglobal.com you can register online and there is a section for exemptions which will tell you what to do in the event that your course is not listed. I did a 2 yr FETAC course in Business & Finance and was advised by a friend not to bother applying as it does delay your application somewhat (I was late applying as it was!) From what I have heard from others on my course (people annoyed with amount of exemptions they got etc) I don’t think I would have gotten any for my course either way.
Just to note you also have to pay for exemptions.

2) The courses can be expensive depending on the school & programme you choose. I am with DBS and paid €655 per subject for the full tuition programme (includes materials (which we don’t use!) and revision (very helpful!)) so I would advise taking the exams as soon after lectures as possible, unless you are very dedicated and would study yourself, you would end up paying again for revision classes coming up to the exams next semester. If you are sitting the first three exams it is possible (in some colleges!) to sit CBE's (Computer Based Exams) which run throughout the year.

3) I was advised by most friends / colleagues to start with 2 exams and let me tell you it totally depends on you; how fast you want to qualify / how much time you will dedicate to study etc. For 2 subjects I am in college every Monday & Thursday and either a Friday / Saturday / Sunday almost every weekend (sometimes I will get a full weekend off, sometimes I am in three evenings and a weekend day!) so it takes up a LOT of your time before you even get to study. I am going to concentrate on one subject for Dec exams and then sit a CBE for the second exam in Jan / Feb so that it is not too late after lectures but so that I will have more time to study. Again, totally depends on yourself / your commitment but just to warn you I find the timetable (never mind the course!) for two subjects tough going and have very little time to study (when you get a day / weekend off from college its the last thing you want to do!!!)

4) If you are not already registered with ACCA I think you are too late to sit the December Exams, closing date was mid August and lectures are mid-way through now. I think if you started working now by the time lectures start (around Feb) and the next exams come up in June you should be well settled but again this depends on you.

Hope that was of some help to you but it is mostly my own opinion obviously everyone is different.

With regards to salary I can’t help you there I don’t work in practice (but have heard trainee salary is not great) it will most likely depend on your experience to date.

Good Luck

mrfuncle

Hi Seanie,

If you starting as an ACCA trainee in practice salaries range from 18K to 22 k per annum depending on the practice you are starting in. You should expect to get around one weeks study leave for each exam you are sitting first time.

Salaries in industry are better than working in practice however study leave tends to be an issue here.

Hope this helps

Rgds

Funcle

Maclyn

Hi Seanie,

My course wasn't listed either, so I rang the helpline number on www.accaglobal.com and was told that there was no exemptions for it but that I could apply for exemption if I wanted, I didn't bother.

The career I was in before I decided to change was nothing at all related to Accountancy ( Engineer ). I hadn't did accounting in school, so was from scratch. I started as Trainee Accountant at the start of March 2007 and sat my first two Computer Based Exams (F1 & F2) in May and did them both through home study. Passed both. I did the next Computer Based Exam (F3) in October of that year through Home Study again and passed. I am now studying through home study for F4, F5 & F6 and am getting on well so far, sitting these three in December. I took the break from exams due to bereavement and also a new addition to the family, so far the home study is proving to be ideal for me, as by the time I got to evening classes for 3 exams as well as other commitments, I would have no time to study, so it is working well so far. I might do the one day revision course for each subject, will decide in the next couple of weeks.

Hope this is some help to you.

seanieclarke

thanks very much for the help folks.

i did think that 18k wud be the minimum alright.

im actually in final year of college so im just doing the groundwork now so i know what to do in the summer if and when i start working.

is it a good idea to just start off doing 1 exam in the first sitting so?

Avoiding Work

Hi Seanie,

As you're still in college & (should be ) used to studying I would study a minimum of two exams. F1 from what I have heard is ridiculously easy and F2 & F3 are not so bad however they do take up a lot of time & if working full time its hard to find time to study.
As the last poster suggested perhaps do home study for one / more courses that you feel comfortable with / have a basic knowledge of. I'm struggling to find the time to study two exams between college & work and will definitely be looking into home study next year.

Hope this helps!