Which accountancy institute is the best?

Question

I want to train to become an accountant but there are so many different institutes in the UK that I am completely lost as to which set of exams to study.

Can anyone help me by suggesting which institute's exams are the best.

Answer 1

In order to determine which institute is right for you it is first necessary to determine what level you aspire to. There are basically two different levels: Accounting technician (AAT or CAT) and Chartered Accountancy (ACCA, CIMA, ICAEW, CIPFA, ICAS & ICAI).

The accounting technician qualifications are lower level accounting qualifications which allow members to act as support staff in a whole range of finance functions. AAT is sponsored by CIMA, ICAEW, CIPFA & ICAS while CAT is sponsored solely by ACCA who abandoned AAT back in the mid 1990s as it wanted to introduce a technician level qualification which had the same business model which it did, ie. one with a global presence. However, in all other respects the two technician qualifications are the same.

If, however, you are more ambitious then you will want to train to become a chartered accountant. This can be done after qualifying as an accounting technician or once you have completed a university degree.

If you are interested in working as a management accountant in industry then the CIMA qualification is for you. If you are more interested in working in the public sector then CIPFA is the qualification to take. However, if you are hoping to eventually work in public practice then ACCA, ICAEW, ICAS or ICAI are the qualifications you should be looking at.

In terms of which qualification is the most difficult to pass the answer is that there is no difference. They are all chartered accountancy bodies and independent scrutiny of all qualifications has shown that they are all equally difficult to pass.

The ICAEW is the largest of these chartered accountancy bodies in terms of members. However, statistical evidence suggests that the ACCA will become the largest of these bodies in 2008. Reasons for this include the fact that this body has adapted better to the new global environment and has successfully set itself up as the international accountancy qualification.

For an unbiased statistical analysis of the UK chartered accountancy bodies the following link gives very useful data:

http://www.frc.org.uk/images/uploaded/documents/ACF18F5.pdf

Answer 2

I'm a member of the ICAEW - the Institute of Chartered Accountants in England and Wales. Its exams are certainly quite demanding.

The Chartered Certified Institute also has a very good reputation. You can pass your exams with them before getting an accountancy job, which is not possible with the ICAEW

Answer 3

somewhat frankly, I often ask your self the place the graduates of different faculties artwork. In my previous artwork with enormous companies, i've got basically met UST, DLSU, FEU, UP, PLM and PSBA graduates, yet have yet to fulfill accountancy graduates from St. Scho, Mapua and Miriam college, no longer to show a suitable-notcher. even nonetheless, the OJTs from Mapua in our audit corporation are quickly-newbies and sturdy accountants. EDIT: there is not any Accountancy in ADMU, basically in Ateneo de Davao. DLSU, UST and UP constantly produce suitable-notchers in the Board checks.

Answer 4

It depends what type of accountant you want to become. Do you want to be a financial or management accountant? Do you want to go in to practice or work in business?

Only when you've made those choices can you choose which institute you want to join.

Answer 5

ICAEW. I used to work for ACCA, they used to fiddle their membership figures. ACCA is a hypocritical organisation which talks so much about ethics and company transparency and yet it is so dishonest. ICAEW is better known and better respected. And you CAN work abroad with an ICAEW quallification even though ACCA claims they are the only qualification that enables that (another lie).