Degree or ACCA

R

Rosinsky

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A typical degree takes 3 years. ( Business, Finance).
The ACCA would take approximately 3 years.

If time is the most important, which one would be the most valuable?
 
It depends on your goals. Difficult question to answer without all the facts.
 
difficult to say as it the climate will prob be very different in 3 years time (Hopefully Better)
 
I think there may be some finance/accounting degrees (e.g. DCU) which take you to within 12-18 months of final ACCA qualifications. You could enquire directly with the ACCA for a list of their latest exemptions.
 
Having nearly completed my degree in Acc & Fin. and the intention of starting the ICAI exams next year; i'd say in your shoes i'd opt for the ACCA straight away based on purely quantitative reasoning (in my case qualitative reasons encoraged me to do the degree).

I could have started training right away and have progressed to 30-40kish mark at this stage (with 50k in sight upon finishing); however it will now be at least 3yrs before I hit that as im basically at the start of the ladder from a career point of view.

The only reason I did the AF degree was to have the college experience, increase my non-accountancy options, enjoy my youth (I didnt want to start professional work at 17) and to add the long run marginal benefit to my CV. In lay terms... i wanted to travel, party, sleep in and bum about for 3yrs (and by God, it was definitely worth it!)
 
Bob_tg said:
I think there may be some finance/accounting degrees (e.g. DCU) which take you to within 12-18 months of final ACCA qualifications. You could enquire directly with the ACCA for a list of their latest exemptions.
Click to expand...

Im not sure on the ACCA, but in relation to ICAI, the DCU degree allows you to skip CAP1 entirely; however you still have to do the full 3yr training contract which will hold down salary increases until proper qualification. AFAIK, the situation is similar for ACCA.

Also worth pointing out that we are continually reminded by our course head that exemptions apply only to the current year and may be altered, reduced or increased for students graduating next year, the year after etc. In addition, full exemptions are only granted subject to a number of boxes being ticked (min 2:2, no compensation passes etc.)

UPDATE: Have just checked with DCU and current exemptions for ACCA are 7 papers out of the 9 fundamental papers. Some of these exemptions are subject to picking specific modules during the course.
 
I thought you needed a degree if you wanted to be a chartered accountant?
 
LennyBriscoe said:
If you have a degree you may be exempt from a number of exams in prof 1 and 2.
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Correct, as I was saying above, the maximum exemptions gained from any BA Honors degree in Ireland is full Cap 1 exemptions. A relevent masters will carry additional Cap 2 exemptions. This is with regard to ICAI. Prof 1 and Prof 2 are now basically called CAP 1.

A large number of F1 - F9 papers may be exempted in ACCA if the degree is relevent enough.
 
I know you said time is more important but I would opt for the degree. It might give you more choices later on in life. Maybe I am wrong but thats what I would opt for.
 
Do you mind sharing what life stage you are at? Are you a school leaver, a 30's parent with responsibilities, a mortgage holder, a 50yr seeking retraining etc... This information is essential to take the overall prespective. I stand by my personal recommodation if you are the later options, but if your a school leaver, by all means go get yourself a third level degree!
 
sorry for bumping this thread but id like to hear some views on a 40 year old doing the acca mser route with no degree. I have to make a decision soon becasue of other training (i mean re-training) ops.
 
I would personally prefer CIMA to ACCA as I think its a more flexible qualification (or at least it was when I had to choose).

You can sit the exams at 40+ but you will still have to get at least 3 years relevant professional experience to become a qualified accountant. To get the experience you might (depending on your circumstances) have to compete against younger candidates to get a low level job until you have some experience. If you've already got relevant experience I think the investment in the exams is well worth it.

What's mser?
 
I had to make this choice myself and choose the ACCA route immediately as I could study part time and got into the professional exam mindset immediately - a degree is definitely easier.
The professional qualification has international recognition and is going to be much more valuable than a degree once achieved. The ACCA offer an option whereby you can get a degree once you have completed the first 9 papers so you can have the best of both worlds.
Finally you should not consider a degree as comparable with a professional qualification as the latter is recognised as equivalent to a masters.
 
I'd consider the degree, as with many business degrees you cna build up exemptions for the professional exams. For example in WIT, if you sit the accounting degree there you get more exemptions for professional exams than any other college/uni in the country.
Its a two birds one stone type situation.
 
I highly recomend the ACCA route, however it depends where you want to go in the long run as some of the larger companies will only hire people with degrees. However, in the current climate you might find it hard to get a training contract so you might be forced to work in industry.

As for a 40 yo doing ACCA, when I was student there were at least 4 to 5 40 yo! so it should not be a problem.

You just have to be entirely dedicated as they are very hard exams!

Best of luck
 
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