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Need some advice about Training contract & CAP1's

  • 08-11-2016 1:37pm
    #1
    Zonda999
    Registered Users, Registered Users 2 Posts: 5,533 ✭✭✭


    Hi Guys

    I need some advice regarding beginning a training contract.I posted in the forum a couple of months ago (http://www.boards.ie/vbulletin/showthread.php?t=2057643508) and I applied in the milkrounds and was lucky enough to get three offers, 2 from the Big 4 and one from Grant Thornton.

    However, seeing as I'm willing to start straightaway, one of the big 4 firms have told me that I may be able to start this year. However, while this would be great, I've a couple of reservations and I'd appreciate some of your thoughts on my postion.

    Basically, while I've an undergraduate degree in Engineering and a masters degree in Financial Economics, I do not have any exemptions for the CAP1 examinations that would be required to be sat next May. Further more, while Iam very comfortable numerically, I did not even do Accountancy or Business for the Leaving Certificate. So, in short I'm just a bit concenred that statrting at this point, am I biting off a bit more than I can chew? I am willing to put down a hard six months study obviously and I am well motivsated for the challenges of the full set of professional accountacy exams, but I'm just a little concerned that between the long hours I'll be required to put in on the job, that I'll be under too much pressure from the start.

    I do have another option of not starting with the big 4 until next year and completing some (I've found out that it is possible to do the cap1 examns over two years) or all of the cap1 exams myself in the meantime. One of the companies have indicated that they would fund this. The benefit of this is that the role I currently have (Being 9 to 5) is not, (I imagine at least) as draining on my time as a role with the Big 4 would be. The negative is that i'm not currently in an accounting role so I won't be picking up knowledge that would be useful for the CAP1's along the way.I would then be able to enter an internship with the big 4 next summer and begin as a trainee next autumn wioth some or all of the CAP1's completed.

    If any one had any advice or anything else to consider at this point, i'd appreciate any feedback


Comments

  • #2
    The_Pretender
    Registered Users, Registered Users 2 Posts: 594 ✭✭✭The_Pretender


    Cap 1s do require a lot of work, however if you're a hard-working and dedicated as you described then I think it's doable, even after missing the first month.

    All lectures are prerecorded and available to view online, so there's the option of catching up that way.

    There is a DEBK exam that is avaiable to do for the first sitting before the end of January - not sure when the next sitting is. You can sit this exam as many times as you like, the only limit is that you need to pay for it.

    It's a serious amount of work, however if you were to push yourself flat out between now and the new year I think you'd be more than able to catch up with what you've missed so far by the end of the Christmas break. It's really down to you - do you think (from past experience) that you are willing/capable of having next to know social life for the next couple of months, bearing in mind that every second weekend you're in from 9:30-16:30/10:00-17:00, so you would have to be in college one weekend and then going over the past lectures the following weekend. Even after you've caught up, it still seriously impacts your social life, but obviously not as much as in the short-term, having to catch up on work.

    If you don't feel you could do this, then sitting some of the Cap 1s this year and the rest next year could well be the way to go.


  • #3
    tanit
    Registered Users, Registered Users 2 Posts: 325 ✭✭tanit


    I didn't do the full CAP 1 as I had exemptions coming from Accounting Technicians. But coming from an engineer background I'd say that accounting or finance is not going to be a problem at your level it's going to be very easy to pass them even if you are working at the same time.

    You might have more issues with Taxation and Law depending depending on the subjects you did in your Masters. I have met people doing the whole CAP1 in one year and they pass them all in May and if you have no problem studying I don't think you should have any issue.

    That said it's all up to you. Best of luck.


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