I have just returned back to work from 2 weeks studying for the final three exams and I’m left wondering if the big accountancy institutes have got it all wrong.
For anyone not familiar with the ACCA final exams they consist of Governance, Risk and Ethics paper, Corporate Reporting paper and Business Analysis paper. In my opinion all three papers appear to be aimed at accountants training with the top 50 firms. For example the GRE paper generally focuses on listed companies in the FTSE 350, the CR paper is only examined under International accountancy standards and the BA paper as far as I can work out is all about learning pointless management models and theories written years ago.
Just how any of these papers are relevant to the small professional practice here in the UK, which lets be honest make up the bulk of accountancy profession. I just can not see how any of this is going to be of use to me working in a small practice.
Furthermore I am beginning to think that ACCA are really just after making money from its members. On the current syllabus there are 3 what I would call financial reporting papers, 2 audit papers and 2 tax papers. Is this really necessary or purely a money grabbing exercise?
Whilst I already have professional qualifications and do want to become ACCA qualified, am I alone in thinking many of the exams we study are utterly pointless and wonder if this is really the best way to produce quality accountants.
What are the thoughts of others on their qualifications and how the exams relate to what they do on a day to basis?
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- Completing RP1 form in re Redundancy /Insolvency 240 8
- Accounting for VAT not yet paid in year end 332 7
- More HMRC on gov.uk 326 7
- VAT in Sage 165 3
- Recommendations for payroll/AE software? 470 10
- Halloween - do you celebrate it? 735 24
- Cash withdrawn and not accounted for 334 4
- Expense receipt from previous quarter not included in VAT return 259 4
- Know it alls (who don't) 1,297 23
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 561 1
- Capital allowances anti-avoidance 335 10
- Audit procedures on a dormant company 214 2
- Transition to FRS102 - goodwill 519 14
- Employed clients and expenses 849 16
- Goods Purchased for Rental 630 31
- UK Tax Treatment of Finance Lease Payments 151 3
- Auto Enrolment set up 395 3
- Loan to Partnership is s455 tax relevant? 541 18
- Interflora florist 138 1
- NOVA 492
- Bonus Bonds 376
- Insolvency and whistle blowing 359
- Transfer of funds into recently set up company 276
- TPR imposes first penalty notice fines 243
- Friendly Pensions 179
- Box 8 VAT Return - deposit payment 162
- Husband proposes to buy the car as Director unable to acess finance 149
- Finance Lease 144
- Company Car Lease 140