ICAEW CFAB exams

[trainee1994]

Hello,

I started employment to study the ICAEW at the beginning of July which I was and still am very happy about as becoming a Chartered Accountant is my ideal job

However, since starting work there they have pushed back my college start date to January 2015, and I will be doing the lower down level of the ICAEW (CFAB) ..(I was told I would be doing that level before I started to be fair) however I will be doing it over 18 months (2 exams every 6 months), which is 6 months longer than it takes most people, which I discovered after I did some research on the internet.

And also since starting, I've found out that someone who didn't even know what a debit or credit was when they started, went straight into studying the higher level of ICAEW and 3 years later they are now qualified.

I already knew what a debit or credit was as I had taken a few AAT exams before starting there, yet I'm waiting 5 months to start college, AND doing the lower down level AND do it at a slower than average rate?

I was wondering if there was anything I could do about this or is it totally the employers choice what exams I do and when..?

I feel like I'm being a bit hard done by as its going to take me about 5 years to qualify even if I pass all exams first time yet its taken someone else there only 3!

Thanks in advance for all replies

 

[ICAEW]

Study while you wait.

ICAEW CFAB is quite easy, tbvh. I took the 6 exams back in 2012 in about 7 months time period. It's the Professional Level you should be concerned about. You're going to need a thorough understanding of the accounting/finance concepts before you even start practicing the exam questions (Question Bank).

As the CFAB exams are Computer Based Exams (CBE), you pick your own exam dates. So, I suggest you start studying and get them done as quickly as possible. Although, it may seem that you're having to re-do the basic material again, it'll help you retain the knowledge. ICAEW multiple choice questions require memory and exam skill, so practicing the questions is critical.

The Professional Level takes everything to the next level and the only way you can pass is if you've got the examination technique right.

Discuss with your employer the option of sitting the CFAB exams earlier than they want you to. And if they still expect you to take the 6 exams over an 18-month time frame, the exams should be piece of cake and you should expect to get a 100% on every single one, provided that you put in the effort and time to master the MCQs.

Hope this helps.

Best Regards,

Kian

 

[ThePanther]

James Olds buys a four-year, $1,000,000 certificate of deposit from the Second National Bank. James will receive 5% interest in year 1; 5.5% in year 2; 6% in year three; and 6.5% interest in year 4. If James “redeems” this certificate before the maturity date, he would receive a cumulative 4.5% annual rate of interest of 4.5%. The Bank has ascertained that less than one percent of its depositors redeem their certificates before the maturity date. The bank asks you, its accountant, how to accrue and measure such interest payment obligations.

Please somebody out there help me