Accountants? I need you!
 

Hello! :D

After many life changing decisions (at the old age of 21 ;)), I have handed in my resignation to my full time employer and am due to start a fast track HNC in Accountancy in January which i will be due to complete in June. At the moment, my plan is to enter Uni in second year come September to follow up with an Accountancy degree.

After this I plan to gain my professional qualifications (ACCA CIMA etc).

The tutor at college told me that in England a lot of accountants didn't bother with the degree and went straight on to do the professional qualifications, then subsequently became accountants! This is why those who studied in Scotland are more credible, so to speak. This puzzles me.

Would I be less likely to be considered for positions without the degree? What are your views on it? If this is fairly acceptable then isn't a degree a waste of time?!!! :confused:

Please help as I am seriously confused!!

Ta
C:)

I think it stems from that accountants existed well before the current qualifications, courses and fancy letters after your name existed ;)

My mum is an accountant, but has no qualifications, as she was trained as part of her job with a big company in the accounts dept many moons ago when people wore flares ;) She is however a member of FAAP (Fellow of the Association of Accountancy Practitioners). She now runs her own independant accountancy. Before that she was freelance and then employed by a large accountacy firm.

So in essence, employment is possible without the qualifications, as long as you can do the job! Prooving it is another matter. A degree is proof that you have at least studied the theory and practice, so is a good wedge to get your foot through the door into a job.

Hope that helps :)

Cheers Ali!! :D

With being 21 and going through the degree then the professional qualifications I will be as old as you before I get my hands on the wonga!! :p

I am a bit of a poser too and want the letters after my name :) Coming from where I do its a great achievement ;)

The cost doesn't really worry me; studying in scotland I don't have much to fork out for :D

Routes into accountancy
 

Hi Claire,

right here are the main routes.

CIMA - This is the industry based management accountant qualification. This takes between 3-5 years and you don't have do have a degree beforehand. You are working and studying at the same time, but its a good qualification to help you progress in industry, although its also possible to move into practice.

ACCA - (Chartered Accountancy) - This is mainly practice based and is a four year qualification. It is very international and practical and well respected. Again you don't have to have a degree to follow this route.

ACA - (Certified) - This is the oldest and most prestigious accountancy qualification. It is generally the best paid in the end but probably the hardest to get into. You used to have to have a degree to do this route but not anymore.

I will warn you however, an accountancy qualification is probably some of the hardest possible professional qualifications that you can do.

As for University, at 21 i would recommend it. If you do an ACCA based course at Uni, then you can have finished all your exams before you start work and just have to gain the practical experience in order to get your letters.

I would call up the Association of Scottish chartered accountants to see what your options are or have a look at www.icaew.co.uk ot the www.acca.co.uk

you can pm me if you want, as i have done the degree and am training as an Certified ACA at the moment

cheers

Ash

I qualified about 5 years ago, after doing a degree. I think it's easier to get qualified if you can get on a trainee scheme (which should mean your employer will pay your study fees, and maybe even give study time), and in my experience it's easier to get on a trainee scheme if you have a degree. I think it matters less what your exact degree is, although a business or maths based subject would help.

Besides which, uni is a good laugh.

Ash has summarised the choices well.
The decision I made (a while ago ;)) was to do a foundation & not a degree as both gave the same prof. exam exemptions. (Even though one is a year & the other 3 or 4). If you know you're going to do it, why waste 2 or 3 years to gain the degree ? The flipside is that if you take the degree & the prof exams don't work out, you have something to show for your efforts.

Practice tends to offer the best study support packages (block release & paying for courses etc.),but you have to put up with pompous nobs in stripey suits for a few years before you leave and join the real world.

Industry does offer a more real environment but can be less forgiving to the substantial demands of the study.

Good luck & don't under estimate the effort required to get the exams.

D

ACA - Chartered

ACCA - Certified

!!!!

Ash summarised it well, except for saying ACCA is Chartered (although they are, but the second "C" stands for "Certified") and ACA are Certified (they are chartered).

Being an old 'un I qualified without going to university, but these days without the degree it can take a while longer as you have to do other qualifications along the way, and of course work at the same time.

Can't Believe It!!
 

Haha can't believe i got that wrong, been studying ACA, for 2 years should know the difference really!!:freak3:

As the guys say though, there are a few options available, best just to ask around and take people's advice. Personally i work in practice in Audit and its not everybody's thing.

cheers

Ash

Think long and hard about it, accountancy is very very boring. Basel 2 capital accord anyone? zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Couldn't agree more. IFRS is a huge pile of sh1t and nothing more than a ploy for the accounting industry to generate fee income and attempt to regenerate some credibility in the wake of Enron, Worldcom, Parmelat et al.

It may be somewhat dull but it pays the bills and business can never do without us!
You can always specialise later - e.g. Audit, Tax, Treasury (me!) etc

And as for SOX compliance, don't get me started...

Its a great grounding for a move into the nicely paid job

;)


Finance Directors get Scoobies for Company Cars :D:D:D:D:D


Well at least this one does ;)