Accountancy Qualifications – A Quick Reference
This reference is designed to give a quick understanding on the accountancy profession and the kind of accountancy qualifications available to you in Guernsey. The GSCCA recommend you look at all the websites independently for detailed information on qualifications available and the route which is most appropriate for you, whether it is straight from school or post university.
The Institute of Chartered Accountants in England and Wales - ICAEW
- Certificate in Finance, Accounting and Business (ICAEW CFAB).
- 2 years to complete in Guernsey. No set exam dates, computer based assessment on 6 modules, covers first level of ICAEW - No entry qualifications required, ideal if you are considering accountancy as a career but not quite sure if you want to commit.
- Fast Track. Upon completion of AAT (See below), a further two years study will complete the ICAEW professional qualification.
- Chartered Accountant (ICAEW)
- Professional Qualification. 3 to 5 years structured blocks of study in Guernsey.
You need between three and five C to A* GCSE Grades (including Maths and English) and at least two A Level passes between 240 and 320 UCAS points. There are three levels, Certificate Level (6 modules), Professional Level taking a further 6 modules and the Advanced Level (3 modules). Study is structured and can take up to five years, Guernsey students would usually study with BPP who you should contact to establish their learning structure.
As above but you may be eligible for exemptions if part of the syllabus is covered in your degree. Most employers will expect a First or 2:1 but some may consider a 2:2.
Association of Chartered Certified Accountants - ACCA
- Certified Accounting Technician (CAT)
- Average time 2 years to qualify in Guernsey. No entry qualification. Where a student has no qualifications all three levels must be completed. Some prior qualifications may attract exemptions; however, the student must demonstrate the necessary skills to complete CAT as a whole.
- Certified Accountant (ACCA)
- Professional Qualification. 3-5 years flexible study (few days study/time off/repeat)
You will need a minimum of three C to A* GCSE Grades and two A Level passes in five different subjects which must include English and Maths to start your ACCA studies at Fundamentals level. (If you do not have the minimum entry requirements, you may start your studies with Foundation-level qualifications). Fourteen examinations with three years of work experience.
If you have a relevant degree from a university accredited by ACCA, you may be eligible to claim exemption from up to nine exams at the Fundamentals level of the ACCA qualification. Up to 14 Examinations (depending upon exemptions) with three years of work experience.
Association of Accounting Technicians - AAT
Average time to qualify in Guernsey - 3 years. No entry qualification, straight from school whilst still working.
AAT is a leading qualification with 3 stages at technician level sponsored by the ICAEW. This qualification entitles you to enter the AAT-ICAEW Fast Track route to become a Chartered Accountant with a further two years study (see above). If you elect not to continue to ICAEW, you will still have gained a recognised accountancy qualification.
Chartered Institute of Management Accountants - CIMA
CIMA people work in industry and commerce. It is the most relevant accounting qualification for business. Management Accountants interpret financial information to make business decisions on a commercial level.
- Certificate in Business Accounting (CBA)
- One year to Complete. No entry qualification. Gain a solid grounding in the fundamentals of management accounting leading to qualification in own right or follow with the professional CIMA qualification. Five Certificate exams to complete studying at your own pace.
- Professional Qualification – Four years to Complete.
Competence in Maths and the English language, four years to complete (including three years practical experience). Ten examinations in four years but you can complete in three sittings.