This has since been split into a number of options (taxation, technology and insurance) – however, when I took the exam in 2017, taxation was the only option. The ACA accountancy exams are difficult, especially for those with no prior training, with a large breadth and depth of technical information covered. As eluded to above, the 15 ACA exams are split into 3 levels; certificate level, professional level and the advanced level each increasing in difficulty and building on the skills developed in the previous levels. Please do not book your exam until your arrangements have been confirmed to you. In terms of training contract, it is more competitive (and therefore difficult) to secure a place with a Big4. This course is noted for its difficulty level as well as the diverse areas of opportunities it opens up for the partaking candidates in the field of accountancy. I’m sorry hicsuntleones if I appear to have offended, for that was most certainly not my intention in any way, shape or form. I work with ACA and ACCA, once your qualified it … Posted on May 16, 2019 by Cap Hill. Could someone realistically tell me the amount of time that needs to be spent studying for them. The 2nd exam within the audit and assurance series. A slight technical increase on the certificate level exam but very passable nonetheless. Not only does this put a floor on your future earnings, it provides a great basis to build a career off. This will be invaluable when it comes to your first study day. 3 weeks to study three subjects then you take the three exams. The base layer of this qualification is the certificate level, which comprises 6, 1.5 hour computer-based assessments covering the fundamentals of accountancy, law, tax, audit and company finance. Love this! I personally find them less intellectually challenging but demanding in other ways. Broaden horizons? My comments in my previous post are merely observations based on my experiences and personal viewpoint. It is a lot of work and you need to work hard/ practice lots in order to pass. This is often the first professional level exam taken and the increase in difficulty by level can be felt most strongly within this exam. The ones who started in the April intake studied and sat 9 exams in their first 5 months at PwC. After all, I would not care about the prize if I were you. Having completed the ACA and currently studying for CFA lev 2 i'd say there is little difference in the difficulty levels. These 2 things alongside the pressure of passing exams and staying on-track with the rest of the class can make for a difficult time, but the collegiate atmosphere of a tuition class can also be a significant positive factor. If you have no accountancy experience prior to studying for these exams, getting your head around the double entry method of accounting can be difficult. Every ACA student will find different exams the most challenging based on their own skill-sets but for me, I have ranked the exams as below with 1 being the most difficult. This is likely the first exam you will take and naturally has the steepest learning curve. Application stage: 6 weeks at college to do three subjects. Exams at the end of the 6 weeks. Generally speaking, the course notes to understand the content, the question bank to test your understanding and the mock exams are the resources you should be interested in. “So really it’s a shame you didn’t do a degree in another subject to broaden your intellectual horizons. Strategic Business Management (Advanced level). Secondly, the ACA qualification has good pass rates, especially compared with other qualifications like the CFA. In fact, my biggest recommendation would be to find a study partner / group with complimentary strengths – without doing this, I know I would have found the exams all the more difficult. The first time limit you will face is the four-hour duration of each section’s exam. How is it shame on him/her for having a clear career goal as early as at Uni stage? The only exam I didn’t pass 1st time. I got a 1st in accounting and finance will ACA be easy for me? I haven’t read that article. Upon completion, you will receive your ICAEW CFAB qualification certificate and you can choose to carry on and complete the ACA. Lots of cramming. Also, it would be great if people could give their tips and tricks on the best way to get thru the exams. Outside of college time each knowledge paper is around 20 hours of work, application papers can be over 100. Exam on the scale of toughness: Even if it seems that both of the certifications are tough, the truth is ACA is tougher than ACCA. then easy/doable…. Been reading up on ACA exams and sometimes I come across horror stories of how difficult they are etc. explaining the accounting treatment of various transactions. The interview process is designed to select those graduates who will cope with ACA exams. DumpsReview Alibaba ACA-Sec1 exam dumps help you pass exam at first shot. So, a university education is all about transferable skills. The 2nd level of the tax series. Having a university degree in Engineering, Law, PPE, languages, pure science, just to cite some examples is actually better for your finance career as you have a much wider skill base. P… performing NPV models or IRRs. The majority of the exams in the syllabus have pass rates in the 70-80% range which suggests that the exams are certainly passable, particularly when you realise that the 20-30% who don’t pass tend to be those not on formal training contracts with tuition providers like Kaplan and BPP. Tough if you’ve absolutely no business or finance background but you’ll soon get the hang of things. Taking these exams independently without formal training isn’t impossible, but it does make it far more difficult. Its about determination, hard work and having a clear goal. Anyway, in my language, there will not be much good source like this. Agree with loquitor. The ACA exams are genuinely difficult and not for the feint hearted, the breadth, depth and technical detail of the topics means you have to be truly committed to your in-class tuition and a well-thought through revision schedule to stand a chance of passing all of these exams. The obvious answer and the one which I rather suspect that you expect is “yes”. Next cycle 3 weeks, three exams. The ACA exams aren’t much like university exams. First of all, ACA is of long duration, usually of 3-4 years whereas ACCA is of only 2 years. Financial Accounting & Reporting (Professional Level). There’s a lot of material to cover. As an ACA qualified Accountant, whenever I speak with friends about the qualification, by far the most common question I get asked on the topic is ‘so, how hard are the exams?’. e.g. A typical SBM paper includes around 8 marks for ethics which equates to 16% of the marks needed to secure a … The exams are hard but I disagree that your life will be on hold. The six exams can be completed in any order and are assessed via computer-based assessment at a local exam-centres. Apart from leave and audit visits, the rest of my time was spent studying for the ACA (Associate Chartered Accountant) qualification – a total of 19 weeks, including exams. You may be considering starting the ACA qualification or simply be interested in what it involves, either way, i’ll let you know how hard I personally found the exams, how the exams are structured and the reasons to be confident you can pass the exams. I graduated from a London uni which is not even in the ranking and I am eligible for five exemptions. ICAEW CFAB can be achieved in 12 months. if not, you will struggle with at least another 5 of the exams in the qualification. There’s no way around that really. One of the sharpest and brightest tax partners that I came across had a double first in Classics from Cambridge. Since then, I’ve been taking every step possible to make it a reality. Others with an accounting background and a few exam exemptions may find it notably easier. The ACA accountancy exams are difficult, especially for those with no prior training, with a large breadth and depth of technical information covered. The second level is the professional level, which builds on some of the modules covered in the certificate level and introduces a couple of new topics. I became interested in the concept of financial independence, retire early (FIRE) in my early 20’s. After the months of preparation, exam day is very much the final hurdle but just how tiring this day is shouldn’t be underestimated. I am about to start my qualification at PwC soon. He will most probably have no trouble with the exams since he has already studied accountancy and finance. Quite do-able for non mathematical gaduates too! | The Progression Playbook, CFA Level 1 – how long you need to study for in order to pass, How to make £1,000 per month selling clothes on Depop, How to invest your money as a student to get a financial headstart. You are going to spend about 40 years working. Although these are the most simple exams in terms of content, my experience was that these exams, particularly the opening ‘Accountancy’ exam, have the steepest learning curve. Please visit my ‘About‘ page for more information. 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