Pre Reading for ACA

#1

I am due to (hopefully) start a job in september

I want to get the best start possible (so I don’t fail and lose my contract) so was thinking of doing some reading now, I can’t get the official packs yet as I’m not technically registered with an institution

What would be the best way to approach this?

also apart from ACA I guess I should brush up on my Excel etc?

#2

I did neither and it was fine. But, since you ask:

  • Really understand the difference between debit and credit - DEAD CLIC (debits increase expenses, assets, drawings; credits increase liabilities, income and capital)

  • Download some statutory accounts and get used to the format; what information they contain; what they tell you about a company.

  • Understand the basics of how income, VAT, corporation, inheritance (pain in the ass), and capital gains tax are computed.

  • Read the usual management consultancy bullshit - Porter’s 5 forces, SWOT, product lifecycle, Porter’s diamond, BCG matrix etc.

  • Practice NPV calculations, discount factors, linear interpolation

  • What the hell do auditors do? Expectations gap; external v. internal audit; different types of audit opinion; evidence; controls etc.

#3

Ahh okay Nice one,

thanks for the long reply!

Yup I’ve seen all that stuff before as I did accounting for degree but am trying to focus more on what will pass the exams rather than general stuff, maybe I shold find some old ACA textbooks on ebay or something?

#4

Congrats on your training contract! Can i ask who its with?

#5

mm ya sure, I got it with deloitte…hopefully it’s still there come september though :s

#6

Loquitur
Liked your explanation (aside from being good), it brought a smile to my face, nice to know someone shares my somewhat jaded feelings.