AAT vs ACCA?

Question

am confuse here, ACCA and AAT are they the same thing? I thought, when I complete my AAT technical level, that would be the end of my accounting study.

Is there anymore to learn after my technical level? If there is, how long would it take to complete? a year or more?

Answer 1

The Association of Accounting Technician (AAT) qualification is a technician level finance qualification which entitles those who have completed the exams to call themselves associate accounting technicians and to work in a variety of supporting finance roles.

However, in order to call yourself a chartered accountant and to earn a salary that comes with this status you will need to take additional exams in order to reach chartered status. This will probably take a minimum of two years additional study after you have completed you AAT studies, and it will involve the study of accounting, finance, auditing and taxation to a much more advanced level that that encountered within your technician level studies.

There are in fact six chartered accountancy bodies within the United Kingdom and the Association of Chartered Certified Accountants (ACCA) is among them.

If you are uncertain as to which route to becoming a chartered accountant is best for you the following link will be of use as it highlights independently prepared analysis of the performance of the UK chartered accountancy bodies. Whichever route you take I wish you good luck. The exams are demanding but it is worth the struggle!

http://www.frc.org.uk/images/uploaded/documents/Key%20Facts%20and%20Trends%20141106%20FINAL.pdf

Answer 2

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If you have no accounts experience I strongly recommend doing AAT first. This will definately give you a solid foundation makknv higher qualifications alot easier to follow also exemptions from first levels of ACCA and CIMA. Although there's nothing stopping you from starting ACCA, what tends to happen is you start struggling and realise you don't know the basics and end up starting at AAT. You have a headstart but end up spending more time if you struggle. I've seen this happen many times. you could research apprenticeships for AAT, I think Gov funding is available for AAT, which means free tuition but time is something you will need to dedicate. good luck with whatever you decide to do!

Answer 3

Aat Or Acca

Answer 4

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RE:
AAT vs ACCA?
am confuse here, ACCA and AAT are they the same thing? I thought, when I complete my AAT technical level, that would be the end of my accounting study.

Is there anymore to learn after my technical level? If there is, how long would it take to complete? a year or more?

Answer 5

If you haven't taken a degree which qualifies you to skip the foundation course in ACCA then I would do AAT (the association of accounting technicians) first; then apply to join an ACCA (association of chartered certified accountants) course. The AAT qualification will exempt you from the first year (foundation course) of the ACCA course but will also make your second year easier as some of the topics will already have been covered.

It typically takes 3 years to qualify from the start of an ACCA course but the AAT course will cut that to two. The AAT course typically runs for one year. However to get your audit certificate (not essential as 95% of businesses don't require one) you will need to do 2 years post qualification work as an audit junior in an approved firm. (See next paragraph)

ACCA qualified accountants are often thought of as the poor relations amongst Chartered accountants. The fact is that they are both equally qualified. ACCA students generally do their hands on training in industry before spending 2 years post qualification attached to a firm. (In order to get their audit certificate). ICAEW (The institute of Chartered accountants for England & Wales) students do their training working for a firm of chartered accountants who have been approved by their regulatory body.

In my opinion ACCA students get a much more varied training - others would disagree. But the course is tough hence my advice to take the AAT course first.

Brendan

Answer 6

AAT is technician level hence the name. CAT is the same level.

n ACCA, it takes another 2-3 years to complete, but after that u can think of yourself as a fully qualified accountant. that's the highest rank for accountants. ACCA consists of 3 parts but after u complete 2nd u r considered as part qualified n can start working. try to google "part qualified acca jobs" i bet the wages u will see make your jaw drop...

so i suggest u start ACCA. good luck

Answer 7

once you finish your AAT you will be qualified to do certain things and still not get paid much for it. It is once you complete your ACCA you can start to earn real money, become chartered and so on.