AAT Level 2 - Vs - Foundation ACCA Examinations

[chantry]

Hi,

I am looking to start an accountancy qualification and want to go down the ACCA route. I am not sure if my current qualifications will meet the requirements to go straight into the qualification and am trying to decide between taking the AAT level 2 or the foundation ACCA.

Question 1:
How similar are these two and are there any benefits of one over the other?

Question 2:
I have 10 GCSE's and 3 A-levels which I believe should meet the requirements to go straight into the ACCA qualification. However, I don't have any accountancy or finance based experience. So would it be wise of me to do a foundation level first, or will this be covered in the ACCA qualification.

Any help or advice would be really appreciated.

James

 

[MyAccountantOnline]

Hi James

It was a long time ago that I gained my professional qualifications but I was always glad I did AAT and then ACCA even though I was working in practice at the time I was studying and taking exams.

AAT is a great foundation, is actually much more relevant to the work you do in practice as an accountant (if that is relevant to you) and gives you a well respected accounting qualification before starting the long slog of the ACCA exams.

Best of luck whichever routes you take, it's hard work

 

[Karimbo]

Do AAT, you will become an AAT professional which will then allow you to do bookkeeping as a side job and get clients from the net.

Correct me if I'm wrong but I don't think foundation level ACCA will qualify you to do bookkeeping on the side like this.

AAT will give you exceptions from first three units of ACCA too.

 

[MyAccountantOnline]

Do AAT, you will become an AAT professional which will then allow you to do bookkeeping as a side job and get clients from the net.

Correct me if I'm wrong but I don't think foundation level ACCA will qualify you to do bookkeeping on the side like this.

AAT will give you exceptions from first three units of ACCA too.

Working full time and studying is hard enough - I'd put everything into studying rather than trying to do a bit of bookkeeping work on the side too.

You also have to be very careful taking on work as an ACCA student - they have strict rules on what work you can do before be qualified and having a practising certificate (for very good reasons)

 

[kevin.doran]

I agree starting with AAT would probably be the best course of action to give a solid base. Unless you have a little bookkeeping experience you're likely to struggle with ACCA's F3 for example by diving straight in.

 

[Philip Hoyle]

I'd suggest you get a trainee job first so that you get the practical experience alongside your academic studying. AAT is a good start as you'll pick up the AAT qualification quicker so you'd have something if you decided not to bother carrying onto the ACCA or couldn't pass the ACCA exams. Nothing worse than spending years to get 75% way through the ACCA but not completing it!

If you go straight to ACCA without AAT and without practical/supervised experienced, you won't get a practicing certificate and won't be able to prepare accounts/tax returns - you need a combination of experience and the qualifications to practice as an ACCA - if not, you'd be restricted to book-keeping ie worse off than AAT!

Of course, I'm speaking of working in practice - if you were planning to work in industry, then the practicing certificate rules don't apply but they'd still prefer someone with relevant experience rather than someone who's just done the exams.