ACCA F1- F9 qualification

irishmiss17

Hi,

Im currently studying F5 and due to my life circumstances it's very hard to actually get the time for lectures for study (kids, not much evening or weekend help etc). Im losing the will to go on with all of this for much longer and I am just wondering what would be my career prospects if I were to stop after the fundamentals (F1-9) ? Also is this the equivalent of holding a level 8 degree?

On a side note, Is it feasible to self study f7-9? I have paid for college courses for f5 & f6 but feel with f5 in particular (martin corboy) I didn't gain anything from the lectures really, more so from practice q's. I also find it such a struggle to fit in watching the lectures that it gives me a lot of anxiety and then have no time to do the homework and practice question. Thanks

Longroad321

hi, am not sure on your other questions, i have been stuck at the same level for too long too so wonder about finishing the whole process.

I studied F8 at home, distance learning and passed. i think that one is possible from home.

ari101

irishmiss17 wrote: »

...I am just wondering what would be my career prospects if I were to stop after the fundamentals (F1-9) ? ...

...Also is this the equivalent of holding a level 8 degree?...

...On a side note, Is it feasible to self study f7-9?...

Stopping at F9:
Once you have F9 you can apply for 'finalist' roles, lots of companies will expect you to continue your studies if they offer study support but there are roles without it. Some companies may be happy to have you as an Assistant Accountant/Finance Analyst etc. and if you want to progress slowly in your own time or stop that's your business; larger companies may want to see completion with a view to being able to promote internally as a qualified accountant, as the need arises.

Unless you have a good CV/experience, stopping here might cap your salary and limit progression. Many people do progress to managerial roles in finance and beyond without full qualification, but larger companies generally expect qualification in Accountant roles, unless promoting within, so it may limit your options.

It's all about your priorities! Maybe stopping works for you in terms of career ambitions, work life balance, and salary. There's more to life than killing yourself for exams; if you can earn enough money without to live comfortably and be around to see the kids grow up, etc...! Stopping and restarting later is possibly another option (check the time limits, I think as long as you don't start the Ps they are now gone). Also have a look at recruitment company salary surveys and at what jobs you might get as a part qualified/finalist with the experience you have and see if the salary can work for you.

On NFQ:
Full Qualification in Ireland is a NFQ9 (~Masters).
I haven't seen the Advanced Diploma (F1-F9, without Oxford Brooks project) rated in Ireland, but understand it is an EQF6 (European framework).
Unfortunately an EQF6 can equal either a NFQ 7 or 8 in Ireland. So it is at least a 7, and maybe an 8. 8s are for Honours degrees and Higher Dips, 7s are for Ordinary degrees. I imagine an honours result in the Oxford Brooks degree would achieve a level 8.
But you'd probably need to ask ACCA if the Advanced Dip is more equivalent to a HDip or an Ordinary degree...


Self study for F7-9:
I'm with Longroad321 in that F8 is theory and doable, if you have discipline.

If you have no experience with double entry and consolidation, of it they are difficult for you, F7 will be a fair challenge on your own unless you excel at self study.

F9 has some easy theory, but some challenging maths, if you understand compounding and discounting... but I have known many many people who struggled at this hurdle even with lectures...

Hope this info is of some help :-)

Ari

CassieManson

ari101 wrote:

On NFQ: Full Qualification in Ireland is a NFQ9 (~Masters). I haven't seen the Advanced Diploma (F1-F9, without Oxford Brooks project) rated in Ireland, but understand it is an EQF6 (European framework). Unfortunately an EQF6 can equal either a NFQ 7 or 8 in Ireland. So it is at least a 7, and maybe an 8. 8s are for Honours degrees and Higher Dips, 7s are for Ordinary degrees. I imagine an honours result in the Oxford Brooks degree would achieve a level 8. But you'd probably need to ask ACCA if the Advanced Dip is more equivalent to a HDip or an Ordinary degree...

Actually not correct. None of the professional accountancy bodies are on the NFQ framework

ari101

CassieManson wrote: »

Actually not correct. None of the professional accountancy bodies are on the NFQ framework

FYI: https://qsearch.qqi.ie/WebPart/RecognitionDetails?recognitionCode=533

The Diplomas obtained for part completion are not formally recognised in Ireland to my knowledge, but are in Europe, and Ireland have agreed levels of equivalence with Europe, so while no one can formally claim their Advanced Diploma is a Level 7. They are not wrong in saying it is equivalent to at least a Level 7 in Ireland as it has the status of Level 6 in Europe.

Cheers,

Ari