AIBU to not do my final chartered accountany exam?

[butcanicount]

NC for this but I am a regular poster.

Basically I have 1 final chartered accountancy exam to do in order to be fully qualified but I haven't done it. List of excuses coming:

Final year in 2017 I passed all exams bar one which I failed by 2% - had it rechecked no go

2018 - mum was in ICU I was told to 'prepare' myself. I didn't do the exam

2019 - I was in a MH hospital for 3 months

2020 - with covid they put the exams online, I tried to get extra support due to dyslexia, they couldn't do anything because I can't find my official diagnosis

2021 - twice more in MH hospital approx 4 months total, had 3 miscarriages also

2022 - had a baby

2023 - thinking maybe I should try do the exam again.

My work place, everywhere I have worked since finishing my training time have employed me as an accountant. Positions are advertised and paid as fully qualified accountants. But I have never lied, they know I am 1 exam off, but that I have done my 'time'. So it hasn't has any impact on my career, I work in industry not practice and with how my MH is I have no desire to ever be the top of the ladder, I am on a 'nice wage' and happy. But every so often I think I should try again to qualify. I don't even know if they would let me re-sit at this point. DH is worried that the stress would be too much for me. Also we are hoping to have another baby next year

YABU - do the last exam
YANBU - It's not affecting anything do not do the exam.

May I ask why you regret it? Was it no use to you or horribly stressful or something like that?

Ime the difference on salary for a fully qualified accountant is massive.

it’s up to you whether you do it or not. But I really encouraged my team member to do hers. It also gives a lot of security in that you can get another job very easily if you ever need.

Also my professional body gives a certain amount of time to finish the exams in (it’s a big time window), but if you don’t you have to start again.

If you’re not time barred, I think you should go for it. It will expand the roles you can apply for and the income you can command in the longer term. Plus, the sense of pride and achievement when you pass will be wonderful. Good luck, OP

I think you should do it if you’re not time barred and don’t need to resit the rest. It’ll be hard but worth it. I'm in a similar situation so might sound like I need to take my own advice so I know how hard it is.

For me, I have a BSC in economics so only had an exemption for the first ACCA paper but I've passed all the applied knowledge and applied skills exams and was given the diploma and BSC in accounting certificate afterwards then I stopped when I was pregnant with DD2.

It's almost 5 years now and I know I really need to do the strategic professional exams and be chartered but I keep putting it off. For me, it's a combination of the tuition centre in my county closed down and I just don't know where to start with the last 4. Also, I work in finance but not in the accounting field as well so I keep thinking what's the point anyway but doing it would give me more options.

So if you do it, you may sleep better at night - that could be a good reason on its own! 🤣.

But seriously, it may be good for you to finish it. Set a challenge and complete it - something positive after all the shit.

It does sound like it bothers you slightly. Completing it may close a chapter.

@mamalovebird that is honestly so helpful to read. I was looking into moving to ACCA I would have to do all the professional exams.

For the job I am doing my salary right now would be no different, qualified or not. All the roles I have had since leaving my training firm have been advertised as fully qualified and I have got the full salary. My sister is qualified and had the same salary as me. We live in a small town sort of area, not big city money etc here!

I currently have no desire to go up the ladder. The stress in one job was a huge factor in my mental breakdown

@Glitterbaby17 thanks going to look into that, I would like some piece of paper that says she did do loads of work!

@frazzledasarock which body is that? I am with ACA right now.

I think you always kick yourself if you don't do it.

The fact that you are thinking so much about it makes me thing you'd regret it. You're so very nearly there!

*you'll

@mayorofcasterbridge yes I think I do regret not finishing. I honestly just couldn't get over that line. It isn't like me, I have always finished everything else I've started and usually done well. It doesn't sit well inside of me and it does bother me.

DH and my mum try and convince me it doesn't matter etc I think they are both afraid to rock my boat.

Then I think it will always niggle at you.

Maybe give it a try - you can always stop if it feels too much, and then you could be content that you had given it everything you could.

Best wishes!

Please do. Check you are still eligible, when and if the opportunity to sit that final paper expires. You have competed nearly all of it and it seems a shame to not do the last one. Please do.

Its like getting 80% of the way up a mountain and then deciding to just stay there instead of reaching the summit.

You're close but the final stretch will be hard. Once qualified there are longer term benefits and protection from chartered status which you don't get as a student or part qualified accountant, but only you know if you have the resilience to get back to studying and sitting exams again. Good luck with whatever you choose

I don't know how old you are but If I was in your shoes I'd make sure I could lock down my current exam passes or get conversions if you switch to ACCA, get through the young DC years and look to doing your strategic final papers later on, if/when you're in the right place mentally and time wise. You get 7 years to complete the strategic level so you can spread them out or blitz them (I did the latter - was really hard but got it all out the way in 2 years).
Also, doing them later on means they'll be up to date with legislation and accounting standards so will be more relevant than doing them now and doing nothing with them for 10 years. Contact ACCA and ask them.

Or just leave them altogether. I've known FDs that aren't qualified but amazing (but that is more in industry) and finalists who still couldn't get to grips with posting a journal the right way round. Experience means so much in this game in my opinion. Some sectors require a qualification as the recruitment is scored and benchmarked etc - I work in education as an FD now and I wouldn't have even got through the door without being Chartered - but it all depends what you want/need long term.

It is an amazing feeling I won't lie. I was so happy.

It’s tough but just do it, you’re so so close now!

In my experience, the qualification does give you an edge over others when applying for jobs. And usually results in a pay boost.

Good luck 🤞🏼

@Frabbits regretting the time and expense of an entire qualification that you’ve potentially never had need to use is quite different to regretting not taking one final exam after several years of hard work, in the field that you’re actually working in though.

I understand what you’re saying though, there’s far better routes into work than degrees these days. I wouldn’t say I regret mine but I wish I’d known of alternative options back in the day!

This 👆

Who knows what the future may hold for you, you may have an extended career break, decide to go for slightly more senior roles, become self employed .....

In all these scenarios having the ACA wi benefit you. Anyone can call themselves and accountant (by experience) but the ACA might set you apart.

If it is still possible then I would definitely try and do it.

Interesting one. I've had a look on the icaew website and I think there are no time limits and you can attempt the advanced stage exams as many times as you like. I do get the fact that it might not change your role however you might as well get credit for all the other exams passed! Is it the case study? I took it quite a while ago and it may have changed but from memory it was less technical and the sort of thing you might find comes more naturally that you've had further work experience so you might find it easier now.

From experience a change in CFO can change the whole company’s attitude to PQ and QBE. We’ve actually gone the other way (which makes a lot of sense to me) but I can see it swinging back again and yes, our PQs were barred from a whole host of roles which they were more than capable of doing under the old regime.

As someone who manages (and recruits) accountants, I state Qualified in the job spec but will consider QBEs or part-quals if they have the experience. If it came to 2 final candidates with only the difference of qualified/non-qualified between them I would probably go with the qualified.

I’d do it as soon as possible, it’s not going to get any easier. Good luck!

It's the same basic principle though.

If the OP is not going to benefit from sitting the exam as stated then I really would think twice about bothering. Having a bit of paper is nice and all but it's not always worth the stress and cost. It's really easy to say "oh, you'll regret it" but frankly I regret the cost of my degree and the time I missed out with my family way more.

Always do the thing.

I think you’re making excuses because you’re worried you will fail.

I think though being party qualifier and not finishing is more of an issue at interviews.

It's just a nagging "why didn't you finish it or resit? Not a completer finisher person?

Now you obviously don't want to explain the why but with a child now people will assume it's that reason and you're less focused on career now.

It just raises questions that are hard to answer I think.

But find out if time barred and get it done if at all possible or convert. Planning on doing further exams even acca stands you in good stread.

It's always worth getting the piece of paper. Do it if you can.

@mamalovebird What do you you mean by lock down my passed exams? I think calling ACCA might be a good idea. Get copies of my transcripts?

I will also try to call Chartered House on Monday 1 exam now would be better than loads in 10 years time

I have contacted them about the CFAB anyway.