Anyone studying ACCA/CIMA?
Discussion
Per thread title really. Thinking of doing one of the above via the mature student route (I'm 36), but I keep finding ways to talk myself out of it. Just curious if anyone here is currently studying? Current job is a financial accounts role at a moderate level that I've sort of grown into via osmosis over the years, so consequently haven't studied properly since doing an HNC many moons ago. Given the current climate, I'm increasingly worried that I've become rather niche, so I'm trying to convince myself to dive back in and get properly qualified, if only as an insurance policy, as I have that horrid feeling that in the event of needing to seek alternative employment, the lack of qualification will work against me. Anyone else gone the mature student route for this sort of qualification, as I'm in need of some motivation!
2 sMoKiN bArReLs said:
I became ACCA 27 years ago (! 
) and it's always kept me in beer & petrol.
I get a bit ) and it's always kept me in beer & petrol. at having worked full time for 19 years. I've kind of done it arse about face really. I've got plenty of practical experience, but nothing to prove I can do any of it, which is making me worried that I've got a bit reliant on the staus quo and would be horribly exposed in the event of needing to find another job. I could do a bog standard accounts payable role and not go hungry, but I know I can do better than that, it's just trying to motivate myself that's the issue currently. Part of me is going all Danny Glover and thinking I'm too old for it, whilst the other part is trying to convince me I could do it (based on some of the people I work with who are studying) and would probably find it interesting once I got over the "back to school" shock to the system.Think you've convinced yourself you need to do it tbh. You can claim qualified by experience after a certain number of years but its not realistically going to help you in the current climate. If you have an employer who is willing to pay/contribute then get on with it; 2 years of CIMA at 3 exams each sitting and you're done given that you can get through foundation reasonably quickly. 
I tried it for 12 months and it was so damn boring I quit. So yeah read some books on it, and if you can still stay awake it's obviously your bag .. I tried to the Actuarial route many years ago and that was pretty difficult - ended up in Banking.
Edited by fido on Wednesday 23 June 23:16
My wife has struggling with the ACCA exams for the past few years. Her collegue has been having a much easier time with AAT.
AAT is a respected qualification in its own right and far more practically orientated. Might be worth considering if it has been a long time since you had to study.
AAT is a respected qualification in its own right and far more practically orientated. Might be worth considering if it has been a long time since you had to study.
Am nearly done on CIMA's Managerial level (1 exam to go, assuming I passed the two I sat in May). The qualification won't hurt, and your practical knowledge will help you through and may gain you exemptions (check with the body before you start studying). I get PQ magazine, and there have been quite a few gripes about ACCA in the last few editions (read into that what you will), though I have a feeling many P2 students will whinge about the May exam too.
CIMA students will usually tell you CIMA is more relevant as it doesn't just look at the numbers, whilst ACCA students will tell you their qualification is more impressive as it goes into the financial stuff in more depth. I chose CIMA as IMO computer accounting packages will help most businesses, and dealing with sole traders that constantly lose receipts etc would annoy me too much. However, both routes will demonstrate that you are competant and able to use your noggin
AAT is more 'entry' level, and will exempt you from the lower stages of both ACCA and CIMA (from what I remember). If you want to do three exams a sitting, it's a lot of work so your social activities will stop for about 6 months each year (more if you are a conciecious student. Don't do less than 2 at a time, I did one paper as it had been a while since I studied anything in a structured manner and now wish I had done two so I could progress faster.
CIMA students will usually tell you CIMA is more relevant as it doesn't just look at the numbers, whilst ACCA students will tell you their qualification is more impressive as it goes into the financial stuff in more depth. I chose CIMA as IMO computer accounting packages will help most businesses, and dealing with sole traders that constantly lose receipts etc would annoy me too much. However, both routes will demonstrate that you are competant and able to use your noggin
AAT is more 'entry' level, and will exempt you from the lower stages of both ACCA and CIMA (from what I remember). If you want to do three exams a sitting, it's a lot of work so your social activities will stop for about 6 months each year (more if you are a conciecious student. Don't do less than 2 at a time, I did one paper as it had been a while since I studied anything in a structured manner and now wish I had done two so I could progress faster.
As an accountant, I actually prefer the non-numerical aspects of accounting, tax legislation, general law and general business advice.
Working in practice with smaller sized businesses is ideal for me as it allows me to cover all these areas - as well as the basic number crunching and debit/credit type work.
Working in practice with smaller sized businesses is ideal for me as it allows me to cover all these areas - as well as the basic number crunching and debit/credit type work.
fido said:
I tried it for 12 months and it was so damn boring I quit. So yeah read some books on it, and if you can still stay awake it's obviously your bag .. I tried to the Actuarial route many years ago and that was pretty difficult - ended up in Banking.
Pretty much the same as me then!Edited by fido on Wednesday 23 June 23:16
You have to want to do it 100% else you'll fall away from it before long, making excuses to do something else, and you'll "get back to it". Not a reflection upon you, you understand, but it you get bored easily or you don't have the drive and time to commit to it fully, chances are you'll jack it in.
hornet said:
172ff said:
If you have/want a life dont do it.
And if I have a mortgage and work for a company that may be "reviewing its UK assets"?In my line of work, being a part qualified accountant (Cipfa)with operational experience/qualifications seems to have taken me forward much quicker than if I'd stuck at purely being a numbers man.
You'd be shocked at how many senior managers I work with who cant read a budget monitoring statement or complete simple forecasts. They seem to be scared of the finance. Therefore, for me its been pretty easy to carve a niche and move things forward.
The wife who is as about as qualified as you can get in the world of accountants (Cima) is stuck all day numbercrunching - but for some strange reason she loves it. I'd have shot myself if I'd not got out.
Hi,
I’m pretty much in the same boat also. I was in engineering for 10 years, and then with a mix of fear of impending doom and boredom of elf and safety making my life difficult, I jacked it in.
Last year I started work for an accountancy firm and started studying ACCA; I’ve now got through 5 of the 14 exams I need to qualify. Got to say it is a big change, but not impossible. As said if you have got the determination and a long term view, as it is an investment in your long term future, you’ll manage it. It is however a lot of hard work. I have not sat any classes, just read the textbooks (which are pretty dull) and as such it takes up a lot of my free time.
The way I see it though is if I take a hit now on the old socialising and going out all the time, I will be much happier in the longer term, and hopefully also more wealthy.
If you want a taster of what’s involved there is plenty of information on the ACCA and opentuition webpages.
Mark
I’m pretty much in the same boat also. I was in engineering for 10 years, and then with a mix of fear of impending doom and boredom of elf and safety making my life difficult, I jacked it in.
Last year I started work for an accountancy firm and started studying ACCA; I’ve now got through 5 of the 14 exams I need to qualify. Got to say it is a big change, but not impossible. As said if you have got the determination and a long term view, as it is an investment in your long term future, you’ll manage it. It is however a lot of hard work. I have not sat any classes, just read the textbooks (which are pretty dull) and as such it takes up a lot of my free time.
The way I see it though is if I take a hit now on the old socialising and going out all the time, I will be much happier in the longer term, and hopefully also more wealthy.
If you want a taster of what’s involved there is plenty of information on the ACCA and opentuition webpages.
Mark
Marky Boy said:
Hi,
I’m pretty much in the same boat also. I was in engineering for 10 years, and then with a mix of fear of impending doom and boredom of elf and safety making my life difficult, I jacked it in.
I have the feeling of "impending doom" with regards future prospects really. I've always worked in a financial accounts environment and can't see that changing to be honest, so I figured I ought to get the theoretical knowledge up to speed with the practical knowledge. I'm more a number cruncher than a planner, so I think ACCA would suit better, it just seems rather daunting having not studied for so long. Social life isn't really an issue to be honest, as I'm not the sort to be out all the time. In fact, given the time I waste on the internet at home, putting it to good use seems like a no-brainer, it's just giving myself the motivational arse kicking that's proving troublesome, as I've become too comfortable. Both qualifications seem to do "distance learning", so may give that a go for the initial papers and see how I get on. Stupid thing is, I've taught myself other bits and pieces linked to non-work interests such as Linux and cosmology, but for some reason I'm baulking at doing something that would actually be useful!I’m pretty much in the same boat also. I was in engineering for 10 years, and then with a mix of fear of impending doom and boredom of elf and safety making my life difficult, I jacked it in.
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