ACCA with Leon Taylor

Good evening and welcome to tonights Q & A with Leon Taylor. Leon is an ACCA qualified accountant and willing to answer questions on his role, his studies and life generally as an accountant . I would like to thank him for his time this evening and now over to you all……who has the first question??

Leon Taylor Hello all, thank you for having me

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· 7 December 2016 at 19:01

Yulia Taylor Hello

· Reply · 7 December 2016 at 19:01

Natasha Everard Thank you for your time this evening. May i take this opportunity to ask the first question….how big a leap is AAT level 4 to ACCA?

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· 7 December 2016 at 19:02

Leon Taylor Wow! in at the deep end

🙂

· Reply · 7 December 2016 at 19:02

Natasha Everard sorry…straight to the point lol

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· 7 December 2016 at 19:02

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Leon Taylor It is not as big of a leap as you may think, i believe being AAT qualified exempts you from a few of the earlier papers which are similar level to the aat

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· 7 December 2016 at 19:04

Natasha Everard thank you.

· Reply · 7 December 2016 at 19:04

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Victoria Harrington-Biddle Hi!!! Thank you for taking time to talk to us. I am nearing the end of level 4 aat. If I was to go on to do acca would you arvis3 against it as it would take a long time between full time job a part time job. Two kids. Home. Etc

· Reply · 7 December 2016 at 19:04

Leon Taylor Hi Victoria, i would advise you to go for it if it is what you want, i had a full time job while i studied. I’m not saying it is easy but it definitely worth it

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· 7 December 2016 at 19:06

Victoria Harrington-Biddle Is there a time limit on it as I’d probably be very slow and it would take ages to save up bit by bit

· Reply · 7 December 2016 at 19:07

Juliette Gabriel-Collet i did AAT about 10 years ago……now started ACCA……Decided to start from the beginning……i don’t regret my decision……can’t wait to start F4 onwards in 2017 with confidence

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· 7 December 2016 at 19:09

Leon Taylor I believe there is no time limit for the F papers but the P papers must be completed within 7 years

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· 7 December 2016 at 20:15

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Paula Rutter throughout AAT we can pick within reason exam dates and venues. what worries me us that with ACCA we do not know where the exams will be held. do u know if they are with a certain mile range?

· Reply · 7 December 2016 at 19:05

Leon Taylor There are only selected centres unfortunately, there is a full list of the ACCA.

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· 7 December 2016 at 19:07

Paula Rutter I can’t find a list on the acca site ?

· Reply · 7 December 2016 at 19:08

Yulia Taylor http://www.accaglobal.com/…/comput…/cbe-centre-list.html

Centre list – on-demand CBEs

Use the CBE centres page to search for a computer-based exam centre by country or…

ACCAGLOBAL.COM

· Reply · Remove Preview · 7 December 2016 at 19:10

Michelle Bellamy Paula Rutter Ive just found this on the site

· Reply · 7 December 2016 at 19:14

Paula Rutter I was told these are the cba only
the paper exams could be anywhere?

· Reply · 7 December 2016 at 19:14

Leon Taylor I just checked, Paula, it seems the only way to check is when you actually apply for the exam as the venues change. I think there are good locations for most of the UK though

· Reply · 7 December 2016 at 20:19

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Natasha Everard How long does it take in general to complete ACCA?

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· 7 December 2016 at 19:05

Leon Taylor I think 3-4 years maybe, i took some time off from studying to concentrate on family etc for a while. i started in 2004 and qualified 2 years ago!

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· 7 December 2016 at 19:08

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Paula Rutter how do we mentally prepare for acca exams. what revision materials are available.

· Reply · 7 December 2016 at 19:05

Leon Taylor The key to ACCA exams is practice papers, the time limits for exams are very tight and in my opinion one of the biggest hurdles, without timed practice you will struggle, i know i did initially

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· 7 December 2016 at 19:10

Leon Taylor opentuition.com videos helped me, i also used BPP books and online materials

OpenTuition.com Free resources for accountancy students

Free ACCA lectures and course notes | ACCA…

OPENTUITION.COM

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· 7 December 2016 at 19:12

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Paula Rutter how does acca help in your job

· Reply · 7 December 2016 at 19:06

Leon Taylor ACCA helps greatly, being able to say you are qualified gives people more confidence in you and your ablilities. You also gain that extra level of knowledge that helps distinguish you from the rest

· Reply · 7 December 2016 at 19:41

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Natasha Everard How has ACCA enhanced your role as an accountant?

· Reply · 7 December 2016 at 19:07

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· 7 December 2016 at 19:14

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Amy Shorthouse What made you choose ACCA?

· Reply · 7 December 2016 at 19:07

Leon Taylor I started as an apprentice in a small accountancy practice, i like the variety of clients and industries, i didnt want to be a management accountant, working for just one company, doing the same thins day in day out. ACCA was the next logical step

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· 7 December 2016 at 19:16

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Paula Rutter can u explain the areas it covers
what do the f and p papers mean

· Reply · 7 December 2016 at 19:07

Leon Taylor I believe F papers are foundation, P papers are the professional level. Foundation covers the fundamentals of accountancy, professional takes it a step higher the management level, things that practice partners would tend to get involoved in

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· 7 December 2016 at 19:18

Paula Rutter how many do u need to sit of each

· Reply · 7 December 2016 at 19:19

Leon Taylor Sorry, F is fundamental not foundation. There are nine F papers which have to be done first then you have to do 5 P papers, 3 of which are compulsory and 2 options, the options depend on your role and what best suits the work that you do

· Reply · 7 December 2016 at 19:40

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Dan Adams I’ll be going down the acca route after i finish AAT, what distinctive aspects made you choose your learning provider?

· Reply · 7 December 2016 at 19:13

Leon Taylor I had a look at a few companies, money was as issue so i had to self study. BPP were recommended by my colleagues so i went with them. However i did find online help such as forums and videos really helped as well, sometimes it is better to get two different sources

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· 7 December 2016 at 19:20

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Michelle Bellamy Whats the difference between CIMA and ACCA? are they generally the same???

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· 7 December 2016 at 19:16

Leon Taylor CIMA is for management accountants, if you are working for a larger company and all the work you do is for them. ACCA is for accountancy practices, we deal with a variety of different business and in different capacities – accounts preparation, tax returns, auditing

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· 7 December 2016 at 19:22

Michelle Bellamy Thank you

· Reply · 7 December 2016 at 19:24

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Natasha Everard What are your main roles/responsibilities as an chartered accountant that you personally undertake?

· Reply · 7 December 2016 at 19:16

Leon Taylor My speciality is currently audit, i am responsible for planning and performing audits of our clients, these can be engineering companies, charities, pension schemes. I report direct to the partner. I also prepare the statutory accounts for companies fo…See more

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· 7 December 2016 at 19:27

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Suzanna Rich Hello, thank you for taking the time to do this!
I have been an accounts assistant for nearly a year now- if I wanted to gain experience in practice, do you think that would be possible? I’m half way through Level 3 AAT.

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· 7 December 2016 at 19:22

Leon Taylor Practical experience is a major asset, i would definitely recommend trying to get some. However, i do know that such experience is not easy to come by in the sector, we occasionally have work experience people help us but it is rare. Perhaps call round a few local practices and ask them directly

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· 7 December 2016 at 19:30

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Sam Blake What is it that an accountant actually does and are there different types of accountant

· Reply · 7 December 2016 at 19:24

Leon Taylor Accountants mainly report on financial matters for businesses and individuals. There are different types of accountants, management accountants provide detailed information to management of a single company. Practice accountants help Small business and companies with their legal responsibilities (filing accounts and tax returns etc.) and also with day to day book keeping payroll etc

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· 7 December 2016 at 19:36

Sam Blake Leon Taylor great explanation thank you

· Reply · 7 December 2016 at 19:37

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Michelle Bellamy So what does it mean to be a Chartered Accountant?

· Reply · 7 December 2016 at 19:25

Leon Taylor Being a Chartered accountant means that people can rely on you to be professional. Being a member of ACCA means you adhere to their strict ethical and professional guidelines, your clients gain a little more confidence in you and your abilities

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· 7 December 2016 at 19:45

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Natasha Everard Can you tell me more about Auditing??

· Reply · 7 December 2016 at 19:29

Natasha Everard Does anyone have any more questions for Leon? I would like to take this opportunity to say a big thank you for your time this evening and a really informative and interesting Q & A session. A big thank you to Yulia for volunteering you for the the Q & A. It was a really excellent Q & A

🙂 Thank you both

🙂

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· 7 December 2016 at 19:50

Yulia Taylor You are welcome. I hope it was interesting for everyone.

😊

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· 7 December 2016 at 19:53

Natasha Everard It was very very interesting

🙂

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· 7 December 2016 at 19:53

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Leon Taylor Certain organisations have to prepare financial documents for the use of others. Think of a large Plc preparing its accounts for its shareholders, or a charity showing how they have spent their money. As an auditor our main duty is to state an opinion whether or not we believe that the information they provide is “True and Fair” – did they really spend £2MILLION on a new office?

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· 7 December 2016 at 19:50

Natasha Everard that sounds really interesting — so basically you are to reconcile and investigate their accounts?

· Reply · 7 December 2016 at 19:51

Leon Taylor In a way yes, we also help to ensure that the systems and procedures they use are suitable, there are no risks of fraud or errors occuring

· Reply · 7 December 2016 at 19:52

Natasha Everard Thats where our INTERNAL CONTROLS and ETHICS comes in to play?

· Reply · 7 December 2016 at 19:53

Michelle Bellamy Thankyou Leon Taylor, I now know that CIMA isn’t for me, I’m currently studying AAT level 4, afterwards I will look into ACCA in more detail. Thank you for you time.r

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· 7 December 2016 at 19:54

Leon Taylor Yes, we would review what you do, how you do it and what could go wrong

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· 7 December 2016 at 19:55

Leon Taylor you are welcome

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· 7 December 2016 at 19:56

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Yulia Taylor I remember during one of the previous Q&A session was raised question to have own bookkeeping and accounting business during studying ACCA. Is it any restriction for this?

· Reply · 7 December 2016 at 19:58

Leon Taylor There are some very strict guidelines regarding what services you can provide as an ACCA student/member. To be a self employed Chartered accountant you will need a special Practice Licence which can only be obtained 2 years after qualification and with further study and experience

· Reply · 7 December 2016 at 20:00

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Leon Taylor Thank you all for your patience, im sorry if i missed anything You are all more than welcome to message me later about ACCA, auditing or even any bookkeeping questions you may have.

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· 7 December 2016 at 20:05

Natasha Everard Wow. You will be flooded with requests for help now

😉

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· 7 December 2016 at 20:12

Leon Taylor Thank you for organising this q&a natasha

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· 7 December 2016 at 20:23

Natasha Everard Leon thank you for answering all our questions

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· 7 December 2016 at 20:34

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Stella Ntshwarang Hello Leon…how long did it take for you to complete ACCA

· Reply · 7 December 2016 at 20:08

Leon Taylor Hi Stella, i started in 2004 and qualified 2 years ago, i took some time out for family and work

· Reply · 7 December 2016 at 20:15

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Suwal Ray Kesh Hi Leon Taylor, little late to join Q&A, could you or anyone who can please explain me in terms of job role what do you think AAT lacks compared to ACCA (except dealing with business investment, insolvency and external auditing)?

· Reply · 7 December 2016 at 21:11

Yulia Taylor https://www.babington.co.uk/…/accounting-blog/aat-or-acca/

AAT or ACCA? – Babington Group

Trying to decide between AAT and ACCA? We help you decide which would suit you best.

BABINGTON.CO.UK

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· 7 December 2016 at 21:46

Suwal Ray Kesh Thx. But this doesn’t touch anything for what accounting of AAT vs Accounting of ACCA in job role except for senior role in future.

· Reply · 7 December 2016 at 21:58

Suwal Ray Kesh AAT LEVEL 3 AND 4 covers pretty much most of day to day jobs, in my opinion. Aat covers spreadsheet basic but ACCA don’t cover anything on spreadsheet. ACCA covers Business Law but AAT only touches some units in Ethics.

· Reply · 7 December 2016 at 22:02 · Edited

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Jurate Teb Hello Everyone.. Sorry if I am late for the Q&A, but I am curious ifLeon Taylor has worked in Europe in accounts field after completed the studies. Could be interesting to hear about his experience etc.. Thank you.

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