HOW TO BECOME A CHARTERED ACCOUNTANT - ACA ROUTE
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- Опубликовано: 11 июл 2024
- Find out what you need to do to become a qualified chartered accountant! In this video I talk about the ACA route to becoming a chartered accountant! Exams, experience, and more!!
Link to CPL Directory for University Students and Grads: apps.icaew.com/cpldirectory
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JazakAllah for sharing this info. The video is very well structured and gives a really easy and clear understanding of the process.
Wa iyaak
Another great video!
Thank you for your kind words!
You are the best 💓 thank you so much.
No worries! thanks for your kind words
Thanks for this!
No worries
Well Explained.Thanks
Thanks for the kind feedback
Good video, could you make a video going through apprenticeships from both a school leaver and uni perspective, like ways to find the best apprenticeships in London etc
Yes so if you refer to my school leaver and interview videos I talk about these topics, let me know if I’ve missed anything after watching these vids and in shaa allah I will release another video answering your questions!
GREAT VIDEO!
Thank you for your kind words!
Thanks for your advice. I will be sitting BST this month. What would be your advice in terms of the order of sitting the advanced level. I sat FAR quite a while ago (AA was my first professional exam, FAR was my second), BST is my last. You mentioned that there is some overlap between CR and SBM. Bearing in mind that I am siting BST now, do you think SBM as my first advanced exam will be the better choice? Many thanks for your time
If strategy is your next exam then I’d recommend SBM in the summer sitting probably the easiest exam out of the advanced stage and links in well with strategy.
I’m looking to do accountancy at university for the university experience and I want to become a chartered accountant afterwards. Doing accountancy at uni will allow me to get exemptions from exams to become a chartered accountant so how long would it take for me to be a qualified chartered accountant after uni?
3 years minimum
Hi Fehzan,
I'm looking at applying for a school leaver's program that is an ICAEW apprenticeship. So looking at doing the ACA in 5 years with a company. Do you have any advice for someone who has no background in Accounting and how they might prepare themselves going into studying for the ACA? Thanks!
Thanks Brandon - firstly don't be worried about the no background in accounting lots of people do accounting each year with no prior knowledge and go on to become chartered accountants.
Secondly, in terms of studying right now you're at the application stage? So I wouldn't spend too much time in studying for the ACA and trying to get ahead. You should only know the basics of the ACA i.e. how many exams, length of training agreement, core topics, future career opportunities. You can find brief sections on this on the ICAEW website.
I would focus firstly on securing a job as these schemes are highly competitive. So do interview practice, online assessments practice, practice delivering presentation i.e. all of those soft skills which will help you secure a role.
Once secured I'd say then you can start to have a think about the ACA, but even then your employer will provide all the training materials, college time off, tutors when you start employment.
Let me know if I answered your q!
Hi sir,
I have understood your explanation but if I have done my A levels and have later on achieved an accounting and finance degree at university. Then to be a chartered accountant I decide to take this pathway and have about 7/8 exams which I am able to be exempt from then I would have to do the remaining exams to be fully qualified in addition to 450 days of work in an accounting environment. Is this correct? So could I the professional stage straight away if I am exempt from the foundation stage or would I have to wait? Would my A levels grades have any impact on whether I can choose this pathway?
Thanks
So your understanding is correct you need 450 days work experience in addition to the exams. You would then start professional stage if you’re exempt from certificate. Your a level grades may impact what offers you get by the route you follow
Salam Alaikum, what route should I take of I dont have an GCSE's but want to do CIMA? I work for CBRE and they will pay for my courses to become a Finance Manager, but I don't know the best route.
Wa alaykum as salam start with the certificate level which has no formal entry requirements
What do you personally think is better to go through the uni route or study from home and do AAT Level 2, Level 3 and Level 4 Accounting?
I wouldn’t recommend studying from home I would recommend finding an apprenticeship or work at a firm or company who may then offer you formal training
Hello i have secured a position for ACA trainee 2024 but the contract says i will start the training on pate August 2024 and my employment agreement will start on December 2024 subject to passing the 3 ICAEW Certificate level modules.Can you please tell me which are the 3 certificate level modules?I am planning to buy the ebooks of these 3 modules and start practising since i am not working right now and i will be able to learn everything in advance.Thank you!
There are 6 certificate level exams not 3 so your contract may be referring to a specific 3 modules. I’d expect one of them to be Accounting.
Salam Fehzan.. i hope you are doing well,, can international students do aca in London and secondly do big 4 companies sponsor or give out work/study permit to international students ?
Wa alaykum as salam yes so long as they have right to work in the UK. The big 4 don't really sponsor students as there is high local demand, some of these firms will receive tens of thousands of applications for a thousand or so roles.
Asalaamulaikum brother, I'm a (now) second year student in University studying accounting and finance, I haven't had a job before in my life and am on a 3 year course. What are my best options realistically if I want to become an accountant, I know it'll be difficult but I recently got out of depression and want to turn things around, I just have a feeling its too late could you please advise me. Jazakallah khair
Wa alaykum as Salam Firstly it’s not too late. I’d look for internships, work experience opportunities in your final year. Coming out of depression is not a small achievement so remain positive, you can do this!
Main thing is your attitude. Whatever is written for you is written for you so all you have to do is do your best again deffo not too late
Hey man, I'm starting on an ACA/CTA course, do you know how much this differs from traditional ACA? Thanks!
It’s fairly similar but you do a few extra tax exams which enable you to gain the CTA qualification as well and if you join as a graduate should take you around 4 years to complete.
Most common structure is firstly study for the certificate and professional stage of the ACA then do a CTA exam depending on the specialism you want to follow ie indirect, owner managed businesses, or corporates. Then do the advanced level of the ACA before finishing on final tax exams so you can become CTA.
My issue with accounting is it can be very tedious and there isn’t much more to learn once you are taught everything. How do you overcome this feeling of boredom ?
Learning doesn’t stop. Recent developments include U.K. SOX, updates to accounting standards, constant new queries to resolve during month end, new areas to audit, the list goes on… simply put no I’m not bored in my job and if it was boring I’d just leave
Salam brother,
I just wanted to know what is the reason the banking and insurance exam is haram to take. Is it due to interest, for example if I had to take that exam to gain a certificate but not work in that sector would that be permissible
Wa alaykum as Salam I’ve never been asked if taking the exam is haram! Please ask a person of knowledge to be sure as I don’t want to assume
Hello Sir I studied tourism management but I did a unit of accounting and I enjoyed it as it was only one of our units would you suggest I study a level 2 beginner course or go for a level 4 course thanks for the clear info in the video as well!
If you're referring to the aat - as it sounds like you've done a degree and studied some accounting I'd recommend studying for the aat level 3 qualification - level 2 will be too basic in my opinion.
@@FehzanMehdi hello ok thanks so much for your help and response
Slmz. I just finished my IGCSE. Do you think I can do ICAEW immediately after IGCSE without A Levels? Are there any restrictions on grades or anything?
Wa alaykum as Salam yes you can start on the cfab qualification however it may be worthwhile doing a levels then you can apply for a school leaver programme if you meet the entry requirements
@@FehzanMehdi Jazakallah so much may Allah reward you
I appreciate the video, I have a question, I am currently studying at university a sports business management degree, however I want to become a chartered accountant and was wondering what route I have to take after I finish my university degree and how long it will take? Kind regards
Thanks you can apply for a grad programme don’t need to have a degree in accounting and finance and that will take you the normal 3 years to become a chartered accountant.
@@FehzanMehdi Thankyou very much, have a good day!
Does it matter if your accounting/ accounting and finance degree is a BA and not a BS? Did your employers look or ask about this? Does it affect your placement or salary? Jazakhallah kheir!
The answer to your questions are no it does not matter nor does it impact your earning potential!
P.S. I never went to university I did a school leaver programme
Hi I’m going college this year September and I picked level 3 -4 accounting and finance would that be enough for me to go uni?
Sorry for the late response, I thought I'd answered. You can go into uni with Level 3 or 4 Accounting and Finance, but I'd say watch out for a video I'm going to release around this topic. I'll release it within a week or so.
i want to graduate with an accounting and finance degree at university for the uni experience but do you start to earn a salary doing work experience and studying for these exams?
Yes so if you join a grad programme, you will be paid a salary whilst doing the exams and build work experience too.
Hello Sir, thank you for your video. I am considering this route to change my career path. My undergraduate degree is in healthcare, I am concerned that this lack of experience may be difficult to overcome. Have any of your colleagues passed through this route successfully? I am not afraid of applying myself to the work, just slightly apprehensive
Yes they have with degrees from unrelated fields such as biochemistry, history, politics so if you’re willing to put the effort in you will be fine!
@@FehzanMehdi thank you for your encouragement!
No worries if you have any more q feel free to ask
Hi, amazing video; just a quick question. Do you complete the 450 days work experience while doing the exams or is it one after the other?
On a training contract you do this whilst completing the exams
Thanks for your quick reply
No worries!
I would like to study full time from home the first 14 subjects. Is that possible than start work in a approve firm.
Very nice
Thank you
Do we need employer to start ACA course? i have completed my graduation in accounting and finance and studying MSC accounting and finance in London. Could you please guide me how to start ACA course as I'm completely new to this country.
No you can start self studying but it is better to secure a training contract through an employer as they will cover exam and membership fees
I’m in year 12 at the moment but if I went to uni to study accounting and finance would I automatically become a charted accountant.
And what’s the difference between studying accounting and finance and just accounting.
No if you studied accounting and finance at university you wouldn’t become a chartered accountant. You become a chartered accountant after studying for the ACA, ACCA, or ICAS qualification. So after university you will do further study. To your question about the difference between accountancy & finance and accounting I don’t expect there to be much difference at all. Some universities will call it accounting and others will call it accounting and finance. The only real difference maybe is there may be a wider choice of elective modules if you study accounting and finance. You should be able to see this on the university’s website. So when you study for a degree you have core modules which everyone on the degree has to study for and then you have electives which are options you can shop se to study.
@@FehzanMehdi ok and what are the main differences between a charted accountant and a normal accountant apart from the money
Tbh anyone can be an accountant depending on their job responsibilities whereas a chartered accountant has external accreditation that they are qualified to do the job! There will also be a seniority difference so a chartered accountant will most likely lead other unqualified accountants within their team.
What a levels should I do for accounting is a level maths needed?
I picked business, economics and Law
Nope not required watch my video on Do you need to be good at Maths to become an Accountant? You’ll get a better idea of why you don’t need to do A level maths
@@FehzanMehdi thanks 👍
Assalamualaikum warahmatullahi wabarakatuhu brother, i am from India and i am pursuing my UG so my question is will there be any exemption after me getting my UG Degree certificate or i have to start it from Foundation. Thank you in advance.
Wa alaykum as Salam I’ve done a video on exemptions in the description of that video there should be links to credit for prior learning. Here you can search your qualification and check if you’re entitled to any exemptions.
Hi I’m interested in charters accounting, but I haven’t achieved the highest grade in my GCSEs for maths I got a 5 which is a low b I didn’t take maths in a levels and at the moment im in last year of college studying economics and it and computer science. Will I have any chance of becoming a charters accountant without a good grade in maths. Thank you for the video it’s amazong
Yes 5 is fine to get into most apprenticeship / grad schemes so nothing to worry about there!
Assalaamu alaykum
What happens with salah in the longer exams? Do they allow some time to pray then get back to the exam?
Wa alaykum as Salam excellent question - it’s best to reach out to the student support emails of the body you’re studying with but right now I’m not aware of any concessions for salah.
The longest exam in the icaew is 4 hours and it may be best to take this in the summer months - if it’s morning then no problem with salah but even in afternoon depending on timings you may have enough gap between dhuhr and asr to fit this in between
Sir I have completed my ca from Pakistan now I want to become aca (icaew) what exemption will be given to me
If you’re a member of ICAP then you should get 12 exemptions from the ACA
Hi Sir,
I just got here in the UK last month. I graduated from BS-Accountancy in the Philippines way back in 2019. I have previous experience as an Accounting Assistant in a freight forwarding company for about 1 yr and an Assurance Associate at EY PH for 1yr before i went here as a dependent. My question is do i need to take ACCA exam? Or am i already considered as a qualified accountant? Thank you.
No here to say you're a qualified accountant people would assume you're chartered - so you'd need to be a member of ACCA, ACA, ICAS, or CIMA to say you're chartered
@@FehzanMehdi thank you Sir❤️
Fehzan, when you mean 450 days of work experience, does that mean I would have to wait to get a professional finance job to then start my ACA?
Not necessarily you could do some exams but I always recommend to people to get a training contract and not to study for the ACA privately.
@@FehzanMehdi asslamualikum sir plz bta dyn ye training contract kya he hota he or esy kab start krty hain certificate level complete krny k bad or phly and es ki fee ka b bta dyn or kya hum training k during itni salary milti he k hum apni fee pay kr skyn
Salaam brother, I got a C in A level Maths but and I’m on track to get 2:1 in my “economics with finance degree”.
Does the C in A level Maths put me at a disadvantage?
Thank you
Wa alaykum as Salam no so long as you’ve got around 112 ucas points from your top 3 a levels
@@FehzanMehdi oh no😭😭 I got CCC in my A levels. It’s impossible to become a chartered accountant now isn’t it
what is the difference between aat ,aca and acca routes . Which route is the best to follow to become a professional chartered accountant?
Please watch a video called chartered v management to help answer your q but to become a chartered accountant you would study either for ACA or ACCA as you suggested. You don’t become a chartered accountant by studying for AAT as that is only result in you becoming an “Accounting Technician”. To become chartered you’ll have to do further study after AAT
Salam alikum brother, I've a doubt, an non uk citizen (Indian) who finished ACA, is his scope to practice ACA in the uk or get employment in the uk, is it high or low?
Wa alaykum as Salam it can be tough due to visa sponsorship so look into that.
Hi, I completed my degree in India and am doing my masters in UK. How can I choose my path? I did CA articleship in India. Is that count with experience?
If you want to qualify in the U.K. I’d advise you to secure a grad role which offers visa sponsorship or if you’ve a lot of experience and are already chartered maybe attempt to secure a role at Senior level
Salaam. I want to chose economics, business and law for a level. Is that sufficient? Also, after you graduate from an accounting degree and get on to the ACA programme or whatever it is, do you get paid whilst doing the ACA course. Finally, you said that the ACA course takes 3 years. Is it possible to speed up the process and do exams early? Jazakalla
Wa alaykum as Salam
1) You can study whatever you like at a levels and university.
2) Yes you get paid an above market salary I talk about this in my video How much an Accountant makes?
3) No you can’t speed it up because you need relevant work experience as well which takes about 3 years to get
@@FehzanMehdi sorry to bother you.so does that mean whilst I am doing a ACA and training with the firm,do I also earn a wave whilst doing the ACA.
Yes
Tell me about ICAEW articles its must during professional stage or after the Complete all paper?
You can do it either way but it’s better to get experience whilst you’re studying for exams
Salaam. I’m doing my exams with deloitte at the moment and I’m struggling with the certificate exams. Do you have any tips for anyone in the same position?
Wa alaykum as salam,
If you haven't already I'd suggest watching my video on 3 revision tips!
I'd say focus on the following:
1) Question Practice - Honestly can't stress this enough! Before the exams do as much question practice as you can! If you focus on question practice, then in the exam you will find that at least some questions will be very similar i.e. follow the same calculation process.
2) Make a plan - You can't wing the ACA! Make a plan and stick to it, if you haven't already dedicate time each day to revision and question practice!
3) Revision style - You should by now know how you revise best. However, if you're still struggling then I'd recommend writing things out and highlighting key bits of information! When writing things out, cut the crap, summarise a paragraph in two lines and highlight a few key words which will help you remember! In the certificate stage, it's a greater focus on knowledge rather than skills, so if you can remember the content you should be fine!
4) Ask for help - You're at Deloitte there are loads of people you could potentially ask for help if you are struggling with the content, most will either be qualified or soon to be! There's no shame in it! A greater shame would be you failing without asking for help! Also drop your college tutors an email or ask them questions after class, I found most very helpful and willing to go the extra mile for their students!
5) Time Management - A week before the exams try and sit at least a few past papers just to practice your time management as there are multiple choice questions in the exam you don't want to be in the position where you miss some of these out because you're too focussed on getting others right! Answer all the questions you have a 25% chance of getting the multiple choice ones right!
6) On the day of the exam if you get completely stuck, move on to the next question and do that continuously, get the ones you know out of the way. Then at the end, try visualise where you were when you were revising particular topics, this technique may help you recall knowledge, however even if it doesn't work make sure you answer all the questions! An answer is better than no answer!
@@FehzanMehdi thank you !! 👍
No worries
as a CA student i am worry about my field of CA..
i am heard alot about A.I artifical intelligence that it will be threat for CA profession
please clear my doubts regarding A.I...???
Thanks AI will impact other industries before accountants I can see it having an impact on manufacturing and engineering processes, accountants don’t just crunch numbers we add value through other means so think we are a long way away from worrying about AI taking over our jobs
assalamu alaikum brother I hope you're doing well brother I'm 45 years old now and I just finished my AAT level 4 and get certificate with that. i am planning to continuing studies ACA. but all my family and friends they said your age is too high to do that. can you or anyone in your group give me a useful advise without any motivation or opinion that not connection to the real field work please.many thanks
Wa alaykum as salam - age is just a number deffo recommend you go for the ACA - it increases career opportunities and earning potential, well respected qualification and you've proven you can study already by completing the AAT!
I appreciate this video, do you have any recommendations/advice when applying for a Chartered accountant graduate schemes? Like where to go exactly to apply and what to expect day to day basis? Would be appreciated, jazakallah
So deffo watch my recent videos on tips on passing the assssment centre. In terms of finding the jobs you can use sites such as milkround and search careers at each individual top 10 firms. I talk about more sites in my video called the university route to becoming a qualified accountant. It’s one of my first videos. I’d deffo recommend giving it a watch
@@FehzanMehdi jazakallah I just found this video when typing in ACA on RUclips. I apologise I didn’t see the other videos, but thank you I’ll check Milkround I’ve heard of them and In’sha’allah check out the other videos too you’ve said 🙏🏽
ruclips.net/video/mEmsXo3ZdNg/видео.html
My bad it’s tips on passing the interview process
@@FehzanMehdi jazakallah
Asalamualaikum bai..currently I am living in Canterbury Uk on dependent spouse visa.I am advanced level part qualified CA from ICAB(Institute of Chartered Accountants of Bangladesh).Bahi I need some career suggestion..Should complete the full CA from Bangladesh & then give 4 more exams to pass the ICAEW or should I start ICAEW from the beginning..Bhai I have a kid who is 4 years old and can I apply for any part time accounting job with my current qualification? Thanks in advance
Wa alaykum as Salam yes so you can apply for part time positions they are harder to find but do exist. Best to try smaller accounting firms in your local area.
In terms of finishing your qualification the ACA is 15 exams whereas if you complete the ICAS and then do ACA I’m assuming it’s around 6/7 exams. Makes more sense to complete the qualification you’ve started and then do the ACA, you’ll have two qualifications!
Is this the same thing with Nigerian Ican exam, because that’s what I’m doing
I have AAT already and I am almost done with ACA
Because I intend on using that in Uk is it possible
Hey I'm not sure what the ICAN exam is so can't really comment on that - if you're studying abroad for the ACA it will still be valid in the UK - it's a global qualification.
@@FehzanMehdi thanks for your response, Ican exam means institute of chartered accountant of Nigerian and at the end of it, it gives the ACA certification (Associate of chartered Accountant) so I just really want to know if it’s the same with that of Uk, because I heard Uk writes that same exams the same we do ours here in Nigeria
Does the percentage in the exams matter or is it just passing? Also can you take the 3 year route if you have an engineering degree or does it have to be an accounting degree?
No the percentage doesn’t matter so it’s just pass or fail! Yes so 3 year route is for graduates and that’s with any degree no prior accounting experience is required!
Hi brother.. im really struggling right now with my career path and really need your help brother.. im 18 years old ive done my btech level 2 in engineering.. but ive dropped out last year just after covid lockdown. I really want to become an accountant. But dont know what will the stages be for me.. and i dont know where to start from.. can you please guide me or share your knoledge? Thank you soo much brother! JazakAllah
You could go down the AAT route - watch a video call how to become a chartered accountant with no qualifications on my channel - that should help you get an idea of the AAT qualification
hlo sir, m just moved to UK and studying Msc international business. Can u give a advice that how can i start preparation ACA
I would focus on securing a grad role - no point studying for ACA if you can't secure a job. International students face a lot of competition as only large firms offer visa sponsorship.
I would like to study full time from home the first 14 subjects. Is that possible than start work in a approve firm.
Technically yes but not something I’d recommend you may struggle to find a training contact having studied for all but one of the exams
Hi I was just wondering if an apprenticeship counts towards the 450 days of experience.
Yes it does
Why a ICAEW work experience must during qualifications or after that Pass all 15 paper tell me about sir
You should do it whilst you’re doing the exams.
JazakAllah, a great informative video and the white board animation was absolutely fantastic. Everything is explained in a really nice way.
Wa iyaak thanks for the kind words
I like the white board animation, how do you do it?
I use something called Doodly
do i need to take ad maths for CA and which subects do i take?
No don’t need maths you can study anything you like to be come a chartered accountant
This video was very useful, thank you! Say I did a maths degree and graduated with a bachelors, what would be the route from there to become a chartered accountant through ACA? After getting the degree, would I just directly apply for ACA?Also, would I need to do any degrees at all to do ACA (would i be able to do ACA straight after alevels?)
Thanks for the kind feedback:
1) After a degree you'd most likely do a graduate programme to become a chartered accountant
2) You would apply to an organisation's graduate scheme and then they would sign you up to the ACA via a training contract
3) Yes you can apply straight after a levels through an apprenticeship and you don't need to have a degree
I do talk about these topics in other videos so recommend giving them a watch!
@@FehzanMehdi Oh okay, that makes alot of sense! Thanks. Also, during the graduate scheme after my maths degree, would I be employed with the company while doing the programme. Or would I only be able to find an employment in something related to accounting once the graduate programme is over?
@@anittaj6678 yes so you’d be employed with the organisation and be doing relevant work experience at the same time. Sometimes an organisation will make you do the exams first and then gain the experience however whichever route it is on a graduate scheme after 3 years you should become a chartered accountant.
@@FehzanMehdi hi, could you please let me know specifically what kind of apprenticeship (including the level) I should apply for as you said a university degree is not needed.
So to become a chartered accountant you need to look for Level 7 apprenticeships. However, some firms will also offer Level 3 or 4 apprenticeships. These are most likely to be in the AAT qualification which is good but won't result in you becoming a chartered accountant. If you went for a level 3 /4 apprenticeship you'd then have to seek a training contract (another job) to complete the ACA or another chartered accounting qualification.
At university could I do accounting and business and then become a charted accountant after?
Yes you can
Is working as an account not haram in most cases as you deal with riba very often ? Please advise Thanks
I’ve done a video on dealing with interest, I’d highly recommend you watch that video
Aslumualikum bhai i am doing MBA from aligarh muslim university which courses should I pursue to make career enhance in gulf countries
Wa alaykum as salam difficult for me to say as I have never worked in the UAE - but I'd say focus on short courses in data analytics or popular accounting tools to help you stand out in your applications after the MBA
Hi sir what did you get in a levels and was thing exam hard
So I retook my a levels I didn’t get the grades first time round and second time got ABC! I wouldn’t say the exams are hard there’s just a lot of content to cover!
how would you become just a standard accountant? do you need any of these qualifications? i am a university student heading into final year doing economics and i want to know how to get into accounting
To be an accountant you don’t need to have any formal qualifications the qualifications I mentioned allow you to call yourself a chartered accountant and is like an independent approval that you are competent to perform the role
@@FehzanMehdi jazaka’Allah thanks for making it clearer and for the quick response, i was under the impression that a chartered accountant was a specialised type of accountant, like tax accountant etc.
@@sameerr01 More that they're qualified rather than specialised.
Hi sir...
I am an ACCA affiliate and I would like to join ICAEW...can u please tell regarding the exemption and the better Institute that I can joint for ACA
Check out the below link
www.icaew.com/for-current-aca-students/credit-for-prior-learning/apply-for-credits-professional-qualification
is there a time frame to get all 3 stages completed akhi?
Normally you would complete this in around 3 years
Is Pathway Route For ACA membership Via ACCA is Useful?
Not imo the qualifications are very similar only time it would be useful is if an employer had a specific requirement for ACA
Hi Fehzan,
I am a mechanical engineer with masters degree, and am thinking of changing career. I am just wondering what is the shortest route to become an independent account? I would like to start my own business as an accountant?
I’m guessing you want to provide tax services to individual and limited companies?
You should get on a grad scheme which will train you to become a chartered accountant in 3 years. You can then get a practicing certificate which will enable you to run your own practice. By going chartered it will give your firm more credibility that you’re qualified to provide these services
@@FehzanMehdi , thanks brother. Yes I am interested in private, sole trader and limited company taxations. Does AAT level 2 let me practice as a private practice accountant?
No that wouldn’t let you, the AAT level 2 is a very basic qualification and will give you an understanding of bookkeeping. However, you won’t be able to open your own practice offering tax returns, advice, or other services. Hence why best to gain the ACA or ACCA which will mean more credibility and hopefully more clients!
@@tavaci81 To be honest, there's nothing to stop you from opening your own practice right now, however it would be silly to do those without experience or qualifications. The AAT Level 2 syllabus focusses more on bookkeeping so recording accounting transactions, not in performing tax computations. If you're looking for a quick route to working for yourself i.e. within a year, it's highly unlikely you will be successful, you won't have the experience nor be suitably qualified.
MashAllah brother
Assalamualaikum, sir can you please tell me about ACA after completing Acca. What is the exemption and is their any difference between exempted aca and complete AcA
Wa alaykum as Salam if you were a member of the ACCA you’d have a maximum of 12 exemptions and would have to sit the final 3 exams of the ACA qualification.
@@FehzanMehdi ok thanks bro
I graduated in 2013 from accounting and finance with first class but then started family now I wanted to apply for graduate scheme. My question is can I?
Thank you
Yes ofc you can doesn’t matter when you graduated.
@@FehzanMehdi oh thank you 😊 doing great job 👏🏻
Thanks for the kind words
Sir , I have done bachelor in arts with economic and maths..and have three experience..I want to register..but I don't know..how to register it
Register where? For the ICAEW? Are you from Pakistan or India - I know the ACA isn't as popular there so you may face challenges.
@@FehzanMehdi I am from india
Dear Brother!
I have passed my HSSC from Pakistan.
I am highly interested to go for ICAEW directly.
Can I?
How can I?
Can you please guide me in detail?
I will wait for you 💕
May Allah SWT bless you 🙏🤍
You may be able to but the issue I’d expect for you is if there is an icaew approved exam test centre in Pakistan. I would definitely check that out on the icaew website first
Hi, I just wanted to ask what is the difference between BSC accounting and BSC accounting and finance
One is purely accounting and the other is a mix of accounting and finance
Yup as explained below the difference will be the units you study in each degree - I'd expect accounting and finance to cover a broader range of topics.
hi! do you need a degree in accounting/finance to become an accountant?
No you don’t need a degree
Asalam Alaikum Sir... Can you please tell how many exemptions do we get after CA Pakistan or/and after ICMA Pakistan
Wa alaykum as Salam you can check this on the icaew website
@@FehzanMehdi How to do that... Can't find ICMA Pakistan
Salam brother, I noticed at the start you said if you entered as a graduate it would take 3 years to become a chartered accountant. If I took an accounting degree would I not be a chartered accountant once graduated or would it take extra time?
Wa alaykum as Salam no you wouldn’t become a chartered accountant just by completing an accounting degree. You’d have to do further study with ACA, ACCA, ICAS etc and gain about 3 years relevant work experience
Thanks for your reply. For an accounting graduate could they start work in accounting immediately. Also what is the difference between a chartered accountant and an accountant.
Thank you
Yh sure you could apply for a grad role and start working after you graduate. So anyone could say they’re an accountant but to be qualified ie chartered you have to have a professional qualification. It’s like an independent verification that you’re competent and have the right experience!
Jazakallah. I felt I’d missed out on an opportunity to become a qualified accountant quicker since I picked business management instead of accounting as a degree.
Wa iyaak that’s not the case at all
Please a person who studied Accounting Education allowed to enter as an accounting graduate?
As a graduate you would need a degree so not possible if you have only studied accounting at a level as an example
Sir what's fees of accountant to file uk limited company for amazon
If you’re referring to audit fees you can check that on their latest annual accounts.
What about online learning...is it easy and understandable?
This depends on the teacher whether they themselves are good and whether their content is visually appealing! Unfortunately not a simple yes or no answer!
Sir, can I do bcom+ aca together?
To do ACA you have to have 3 years of relevant work experience - so difficult to study for both qualifications and find a job - no point studying both together if you’re going to look for a job next - piling a lot of pressure on yourself
Masha allah
Jzk Aunty
Salam what is the difference between chartered accountant and qualified accountant
Wa alaykum as Salam qualified normally refers to someone who is either exam or time qualified but hasn’t yet been admitted to the member body. You can call yourself chartered once you’ve passed your exams, got the experience, and been admitted to the member body.
Sir after completing the professional level, what is the average stipend rate an ACA trainee gets for 3 years (during the articleship).
I want to pursue it after doing ACCA in Pakistan and apply for it.
And can't find any information regarding the stipend rate on the internet
Are you asking for Pakistan or U.K.? If it’s Pakistan I wouldn’t know sorry
@@FehzanMehdi thanks for responding.
I am asking for UK as I am currently doing ACCA from Pakistan (I know i shouldn't have mentioned it).
I mean I want to try ACA after completing my ACCA modules in UK so any idea about the average stipend rate for trainees in UK as it will be difficult to survive in UK without a job as a foreigner
I’d be careful as I’ve had lots of queries around this and the main issue people haven’t thought about it is they will need a full work visa to come here and work in the U.K. this can’t be done on a study visa which you would typically use for university. In terms of salaries, if you joined a grad scheme you’re looking at around £26-30k depending on location. I also question why you are doing ACCA modules in Pakistan when your end goal is the ACA in the U.K.
@@FehzanMehdi okay I have a certificate for CA inter from ICAP (equivalent to a part qualified ACA in UK) and there are no exemptions available for a CA inter in ACA. But I can get exemptions for ACCA based on my current qualifications and there are exemptions available for ACCA members in ACA so that's what my plan is. I didn't know much about ACA before starting my studies as an ICAP student so that's why I was trying to get some information regarding the stipend rate in UK as if everything goes well, then I can work as an ACA trainee in UK.
I don't expect you to understand everything I said here haha so thank you for the response and I guess even 16k is enough if someone is lucky enough to get articles in a Firm in UK.
@@FehzanMehdi and also I am doing ACCA modules in Pakistan because it's not possible for me to study in UK without a job which I don't think is possible without completing my ACCA modules. I don't have money for accommodations and tuition fee for UK even if I had the chance to study there. Hope I made my situation clear now
What options do I have after school instead of A levels
Apprenticeships but not something I actively recommend as a levels or btec can open up more options for you
@@FehzanMehdi if I do a Btec level 3
Business marketing and finance would I be able to become a chartered accountant ?
Aslamulakum am studying in Pakistan at the moment but am from Uk and doing my o level in Pakistan soo I want to do my internship of accounting soo how can I do it and build my self up like that plz guide me thx
Wa alaykum as Salam you'd like to do the internship in Pakistan or return to the UK? If it's UK best to apply then move here once your internship starts
@@FehzanMehdi yes internship in Pakistan of account something related to it as am going my o level at the moment soo in which I can do internship 2-3 times a week soo I can build up to up my self and get promoted slowly
Tough for me to say in Pakistan I’d reach out to big 4 companies or affiliated companies such as AF Ferguson, see what they can offer you
@@FehzanMehdi if you don’t mind can you send me your whstapp number soo I’ll communicate yoh through there
What kind of work experience do you need
So to become a chartered accountant or management accountant you need about 3 years relevant work experience on a training contract with a firm or a company.
Is any chartered accountant is able to work everywhere the same as his country?
Sorry for the late response. It depends on the local country requirements generally qualifications such as the ACA and ACCA are well recognised in many countries.
JAJAK ALLAHU KHAIRAN BHAI
Wa iyaak
Whats the difference between Aca or CA
They are very similar the main difference is the awarding body. ACA is awarded by the Institute of chartered accountants in England and Wales and CA is awarded by the Institute of Chartered Accountants in Scotland.
Please can u actually tell us how much can a charted accountant get because wallah everyone say different things
There’s a video on my channel how much an accountant makes that will answer your q
@@FehzanMehdi thank u so much brother
How candidates from India can pursue ACA(UK) qualification and complete its practical training requirement when they are not an Indian CA?
Do the UK based and other international firms provide 450 days of training sponsorship to International candidates?
The problem you will find is that most employers won’t sponsor a Visa because a) the costs involved, b) uncertainty if it will get accepted, and c) it has to be renewed after a few years so may not get value for money if the employee leaves. Therefore, you will struggle to find U.K. firms who will sponsor international applicants for graduate opportunities.
@@FehzanMehdi I am a qualified US CPA with a Diploma in IFRS(ACCA). Still, it would be hard for me to find an employer to complete the practical training requirement of ACA? I am eligible to claim CPL for some exams in ACA. Please suggest to me the best possible ways to complete this training requirement issue!
To be honest if you’re a CPA already with experience of IFRS why are you looking to get the ACA? You sound qualified by experience. Can you not just apply for qualified opportunities with a visa? Again you may find issues with sponsorship...
@@FehzanMehdi Yes. That's the issue. I thought completing ACA might give me better prospects in Europe than CPA(US). Sponsorship is the real issue. Anyway, thank bro.
No worries hope you find a solution but yes you’re right Visa is the bigger issue than your experience or qualification.
May allah bless u in dunya and akhira
Ameen
can I become a chartered accountant from a mathematics BA
Yes ofc you can! You can become one with any degree!
Is A levels or GCSEs harder than this?
No - The ACA or any accounting qualification is probably going to be the hardest qualification you do. However, don't be put off by this, the reason why this is tough is because of the time pressure and the breadth of the content covered, NOT because the topics are complex and difficult to understand!
So don't be put off by the challenge because at the end it's definitely worth it!
@@FehzanMehdi what’s the best way to get into any apprenticeship that eventually gives good salary (accounting or not) my goal is to just earn good money n be financially stable
@@Inferno-ob9td I'm guessing you mean career instead of apprenticeship and it depends on the career tbh. E.G. if you want to become a doctor you can only do that with a degree in medicine.
In terms of accountancy, I definitely recommend an apprenticeship / school leaver route. Some apprenticeship salaries won't start of great however once you qualify after about 5 years and earn a decent salary! To understand how much, watch my video on How much money an accountant makes!
I'd be careful with your goal, as earning a good wage is a good goal, however alone will not drive you! For example, something personal has to drive you, so that you are successful in getting the qualification!
So for me, it was earning good money and being the first in my family to be "educated" with a professional qualification. If you don't have something which drives you, you may settle for less and not earn the big bucks you are capable of earning!
@@FehzanMehdi I just want to work in a firm or some sort of company for a few years stack some money to start business etc. or buy some money producing assets. I don’t want to live a life of just career, my goal in life is to be self employed and not have to worry about money so yes that’s what drives me. I want to use money as a tool of greatness inshaAllah
@@Inferno-ob9td And that's good from a money perspective, but the education from the ACA will help you massively! You will be able to do your own taxes (saving you so much money), manage your own finance teams, so yes go for an apprenticeship as both the money and the education will help you achieve your goal of financial freedom!
Do you earn money during the 450 days of work experience? If so, roughly how much? Jazakullah
Wa iyaak yes ofc can’t work for that long without getting paid! Check out my video on how much an accountant makes I talk about different salaries there
@@FehzanMehdi I thought so imagine 3 years without pay 😅 thank you brother
Hello! Does this also apply to international students?
Yes but the problem international students will face is a visa - it can be difficult to find a firm to sponsor them when there are so many graduates who already have right to work in the UK.
@@FehzanMehdi Thanks and yah, this is what I heard too. I also heard that only big companies sponsor the visa.
They’re more likely to as they take on more trainees and have the resources - doesn’t mean smaller firms won’t but I they may not be able to justify the additional cost.
Can an acca affiliate with a Msc in accounting and finance apply for graduate scheme
It depends have you just passed your ACCA exams? No experience? Some grad schemes may still accept you if you study say the ACA qualification. Each employer will have their own view point on this however I think you should still be able to secure a grad position on an ACA scheme.
@@FehzanMehdi I have a desire to do ACA and i love to do so after master and acca and yes i do have some experience
Sounds good 👍 just apply and hopefully you’ll secure an offer!
@@FehzanMehdi thank you loves from Sri Lanka i watch your videos regularly and i keep watching same videos again and again because it keeps motivating me❤️
Thank you glad they’re helping!
Hi sir
I am a student of India what is the eligibility to take these exams
How to approach to these exams
Hi Ravi I’d advise you visit the ICAEW India website for further guidance on eligibility requirements
What's your take on this:-
Huge corporations prefer to hire/promote ICAEW members more as compared to ACCA because of the competition?
Are you referring to the U.K.? Because I don’t agree with that - I wouldn’t promote someone on my team just because they’re icaew never seen that happen before
@@FehzanMehdisorry. Actually you answered this question previously that generally ACCA/ACAs are promoted to senior positions faster than other degrees. So kindly answer the next question.
@@FehzanMehdi Another I wanted to ask is that ICAEW and ACCA claim on their websites that those having these qualifications 'usually' become partners/directors 'earlier' on their careers than those with other degrees. Is that true?
No becoming director/partner depends on the person - you won’t become partner quicker just because you have ACA or ACCA
@@FehzanMehdi of course it depends on the person and varies among individuals but these qualifications sure boost your chances in the long run?