r/ICAEW

How much has everyone done?

With CR (& SBM) now 2 weeks away, I’m on full on panic mode. I’ve been attempting QB questions for CR but haven’t made much progress as every question takes me ages and I can’t seem to answer a single question. The sheer amount of information gets me stuck as soon as I read it and then I confuse myself and am unable to write anything down.

my foundational knowledge is weak, but I’ve been practicing but this doesn’t seem to make me feel any more confident or comfortable while doing question. Like I am genuinely struggling to answer because every question is so different.

any tips at all would be appreciated please help…. :(

Hey guys - just wondering if anyone has bought ACAM AI analysis? I already have FI and BPP notes - but this is a resit for me and the ACAM notes in November were just a copy paste of his normal notes but just condensed to relevant standards. I’m a bit conflicted on whether to buy them again - has anyone found they have good insights?

Hi,

How s everyone feeling for SBM?

Anyone got a good document for treating different financial instruments or strategy for learning how to deal with them?
Feel like for every q I do they treat it differently… and I cant understand some of the logic.

I'm only just starting to look at the AI and do analysis work on the AI. Haven't done any revision on this paper whatsoever.

I'm buying ACAM mocks and analysis to help also.

What's everyone's thoughts - can I pass this exam with the amount of days left?

Hi everyone, I only just finished looking at the AI and was wondering what questions I could practice that will help with question 2. Thank you.

Hi all,

Has anyone seen the 3 fail policy at one level be applied? For example, one of my mates failed FAR and TC (now passed) but let’s say he also fails BST - as this is now 3 fails at one level (professional level) the firm policy states they can get rid of him. Anyone seen this rule get implemented?

I work at the ICAEW, first proper job post-grad. I studied a humanities subject at university and I did all humanities based subjects at A-Levels. I haven’t done maths since GCSE level and even that I just about passed it. I never liked maths. Since working at ICAEW and I started to develop a strong interest in pursuing the ACA purely because I love to learn, had no real career prospects and needed job security for my future. ICAEW lets their staff sit all 6 certificate level exams. I have now passed 1 exam first time sitting it. Since then I decided I really wanted to do this, I have the motivation to achieving the qualification. As you all know to become a qualified chartered accountant you must complete all 14 exams and have 450 days work experience, so I had to start applying for training contracts.

Now my problem lies within the fact that I might have been too optimistic. Passing one exam gave me such a confidence boost that I’m worried I won’t actually be able to do this, everyone at work keeps saying to me the exams are really hard and that even the smartest people find it very tricky and it’s starting to now knock my confidence. I have interviews coming up for training contracts and have searched on glassdoor for what questions one of the companies ask and it was “what is a blockchain.” I have no idea whatsoever… So I’m just thinking would I be able to do this? Am I just going into a career that sounds good? Am I just in this for the money? I have no accounting experience or come from an accounting/finance/economics background. I work with excel and know some formulas but not advanced, however, I’m not too worried about that as I will teach myself before I start at a firm. But I’m scared because I really know nothing. I’m not even good at maths, I’ve started teaching myself accounting maths and I’m actually enjoying it now but I’m not a quick thinker whatsoever, I’m a quick learner but I’m not quick in a sense where I can work out an equation in my head.

My plan for the future is to secure an Auditing training contract, qualify as a chartered accountant and then move into forensic accounting or insolvency.

I’d love to hear anyone’s stories from those who have came from a non-accounting/ non-finance/non-maths background and how you found starting in a training contract. Were those training you patient and understanding that you don’t know anything? Did you really struggle with the maths in the work and in the exams? Do you regret going into it?

Thanks everyone!!

I’ve just noticed my passport has expired! Do you think I could still use it for ID for my exams? I will call icaew on Monday to check but wondering if anyone has helpful info

Hello everyone got free AI notes for openbook? Or where can i get them? Or do you guys make it yourself?

Hi is it worth doing the Old AI questions per the question bank for Cr . I can u could be practising some audit risks but I think I’d rather do mock questions on the real AI?

The older SBM questions kill me and the technical nuances seem so much more extreme than the newer papers. Is this is a thing? Is it even worth doing the older questions considering how different they are to the new ones or am I just imagining it?

Feeling extremely anxious and stressed. Have not touched SBM at all. What are my chances of passing in 14 days?

So far I've done the ACA Masters topic questions from 2015-2019 (so probably like 1/3 of each paper), and the 2020-2025 papers in full (but not doing any AI questions as think it's a waste of time). I'm self marking as independent student and getting like 40-60 but i think I'm marking harshly as it's hard to mark Vs the mark scheme.

My plan until the exam is to go over 2015-2019, not answering just bulking up my notes if I don't recognise anything, and then do 2020-2025 as timed mocks.

I haven't touched the AI at all and plan to buy ACAM notes to add along with the FI notes. I'll also get familiar with the AI and inflo over the next 2 weeks. Not an auditor so only have inflo experience from AA

Reckon I'm on track to pass or am I missing anything?

Quick question, I've got exam prep for Kaplan next week. Do we receive notes for the AI? I understand we have the videos but having something in note form would be a lot easier.

I’m looking for some career advice.

I’m currently a part-qualified auditor earning £30k. If I pass my final ACA exams in November, my salary will increase to around £40k.

I’ve just been offered a role with the Home Office as an Assistant Management Accountant. The salary is £42k, rising to £46k once I qualify.

I’m torn between staying in audit or making the move.

My main questions are:

Which option offers better long-term career progression?

Which path opens more doors in the future?

Is it worth staying in audit for another 2 years after qualifying to gain post-qualified experience, or should I take the Home Office role now?

I’d really appreciate hearing from anyone who’s made a similar move or has experience in either career path.

Thanks!

Anyone else feeling completely burnt out?

I'm off on revision from next week, but a busy few weeks at work have left me completely burnt out.

I'm working my way through QB's but overwhelmed constantly by the scope of both exams. Keeping fingers crossed for a productive few weeks!

Hi everyone, as we’re all making our way through the QB, I thought it would be helpful for people to share some good questions - (ones that cover wide range of topics, ones with useful answers to bring in the exam hall, ones that are quite niche and rare, or ones that you found helpful to understand a certain topic/adjustment). It would be great if we could share a couple in this post so that people can prioritise these/print the answers out as a helping point.

Anyone successfully migrated to work abroad from UK?

Like Saudi Arabs, uae etc?

How did you do it?