Cost of Accountancy Qualification Training?

#1

Hi all,

does anyone out there know roughly the cost to a company to put a CA student through training and exams? A link to a site with the info would be ideal or somewhere to back up the figure. Thanks

Dave

#2

I don’t have a link but I’d estimate £30k plus. The course fees and books could be £10k a year, plus time off from work to take exams and to study is a cost, company time-out for internal classes are a further cost, HR’s time sorting and scheduling stuff is added on to that too… mounts up!

#3

Depends how you cost it.

If you take the actual cash paid by the firm then you’ve got about 6months time off in the first year (~14k), 2-3months in the 2nd year (~7k), course and exam fees.

Then you could bring in the cost of the support staff, training managers and staff time on arranging the study programme.

You could also look at the opportunity cost of not being chargeable on client work which would massively increase the cost of the ACA.

I heard figures of £100k banded about but have absolutely no source for it.

#4

ok, thanks for the quick replies guys. Its just something to mention in my dissertation. I’ll do some more online detective work.

#5

One pwc partner said it cost £100k to get to qualified, i don’t know if she was including the wage or what though sorry

#6

I’ve heard the 100k figure mentioned for a CIMA training scheme if I recall correctly, no idea where I heard it.

#7

If you were unable to obtain a training contract with a firm that would support you through your training and had to put yourself through the training, how much would that cost you?

#8

It would be a different valuation/it depends how you value it.

To put yourself through BPP and come out with an accountancy qualification you’d need to pay for the course (approx £10k a year for two years) and books (a few hundred pounds). You could say £20,000 (would you guys agree on these costs?).

However, that value doesn’t take into consideration the lost revenue - the money you could have earned if you’d worked but forego, to study the course.