Becoming an accountant...
Discussion
Hi all,
I'm 31 and want to become an accountant. I currently work for a car finance broker and only have GCSE qualifications so am wondering what the best route into this field would be? I would obviously, in time, like to become fully qualified so can somebody please outline the process and timelines if at all possible?
Many thanks,
Mike
I'm 31 and want to become an accountant. I currently work for a car finance broker and only have GCSE qualifications so am wondering what the best route into this field would be? I would obviously, in time, like to become fully qualified so can somebody please outline the process and timelines if at all possible?
Many thanks,
Mike
First step is to work out what sort of accountancy you want to do, as that will affect the route. You can either aim towards management accountancy which is generally in industry, focussed on internal management reporting and control, forecasts etc, or you can go financial accountancy in practise (or industry) which will generally be focussed on external reporting and audit type work. The former you can study CIMA, the latter generally ACCA or ACA, but this is not always hard and fast. Best route would be to find an appropriate company in the area you're interested in who you can get experience with and who will subsidise your study.
I did AAT and then ACCA. Took tuition and revision courses at Kaplan on weekends.
You can skip AAT and go straight into ACCA/CIMA/ICAEW depending on the entry requirements, it's some time since I looked...
It can be quite pricey if you want to do the whole tuition, revision classes etc. Or you can do online courses/distance learning if you have a lot of discipline.
You can skip AAT and go straight into ACCA/CIMA/ICAEW depending on the entry requirements, it's some time since I looked...
It can be quite pricey if you want to do the whole tuition, revision classes etc. Or you can do online courses/distance learning if you have a lot of discipline.
The ideal scenario is to negotiate a training contract with a firm as this would give you the 3 years work experience required and they'll typically pay for your tuition.
There are usually clauses in these training contract that allow the firm to claw back training costs if you leave during the contract or if you leave within a certain time after qualifying so make sure it is what you really want to do.
There are usually clauses in these training contract that allow the firm to claw back training costs if you leave during the contract or if you leave within a certain time after qualifying so make sure it is what you really want to do.
chml said:
Thanks guys. Tbe plan would be to stay where I am for now and study in my own time as this would give the financial stability I need for the time being.
Think very carefully about whether you have the discipline for self study rather than structured classroom based style. Especially with working full time. I found it hard enough whilst working full time with tuition and revision classes, no way I'd have had the discipline to get the books out and focus on study for the required number of hours had I not already paid for those classes, as they made me get up and go to college whereas if I was at home I'd have sat around finding any excuse not to open the books!
chml said:
Hi all,
I'm 31 and want to become an accountant. I currently work for a car finance broker and only have GCSE qualifications so am wondering what the best route into this field would be? I would obviously, in time, like to become fully qualified so can somebody please outline the process and timelines if at all possible?
Many thanks,
Mike
From memory I think you need at least A-levels to go straight onto ACCA. I assume it's the same with CIMA.I'm 31 and want to become an accountant. I currently work for a car finance broker and only have GCSE qualifications so am wondering what the best route into this field would be? I would obviously, in time, like to become fully qualified so can somebody please outline the process and timelines if at all possible?
Many thanks,
Mike
I would suggest starting with AAT. As well as being a slightly easier introduction to accountancy it should also get you some exemptions from Stage and Stage 2 of ACCA exams. It also gives you time to decide which area of accountancy (tax, Mgmt Actts, Audit) you might want to specialise in. As well as the study i would try to get into a finance-related role (one where you're exposed to stuff such as P&L, Balance Sheet, cashflow related work). Exams are good to have but experience is also needed. The two (exams and practical experience) also tend to support each other.
chml said:
Really good advice so far guys so thank you all 
Regards the discipline, I am aware it will require masses of self discipline however I am confident that this is something that I can, and will, do.
Thanks
Good luck! (It's a hard slog...but it never did me any harm, well apart from parties where I had to lie about my occupation Regards the discipline, I am aware it will require masses of self discipline however I am confident that this is something that I can, and will, do.
Thanks
)Just hi-jacking this thread because a couple of years ago I asked about accountancy on my teen sons behalf and got a good steer from PH members.
He qualified last month at 21 and has just begun his "chartership" (if thats the right phrase). Not sure if he will stick doing what he's doing as I think he would rather be in industry but its been a good start enouraged by comments from here.
He qualified last month at 21 and has just begun his "chartership" (if thats the right phrase). Not sure if he will stick doing what he's doing as I think he would rather be in industry but its been a good start enouraged by comments from here.
21TonyK said:
Just hi-jacking this thread because a couple of years ago I asked about accountancy on my teen sons behalf and got a good steer from PH members.
He qualified last month at 21 and has just begun his "chartership" (if thats the right phrase). Not sure if he will stick doing what he's doing as I think he would rather be in industry but its been a good start enouraged by comments from here.
It’s a great stepping stone. I wish him all the best He qualified last month at 21 and has just begun his "chartership" (if thats the right phrase). Not sure if he will stick doing what he's doing as I think he would rather be in industry but its been a good start enouraged by comments from here.
21TonyK said:
Just hi-jacking this thread because a couple of years ago I asked about accountancy on my teen sons behalf and got a good steer from PH members.
He qualified last month at 21 and has just begun his "chartership" (if thats the right phrase). Not sure if he will stick doing what he's doing as I think he would rather be in industry but its been a good start enouraged by comments from here.
Congrats to TonyJunior He qualified last month at 21 and has just begun his "chartership" (if thats the right phrase). Not sure if he will stick doing what he's doing as I think he would rather be in industry but its been a good start enouraged by comments from here.
Many many accountants make the move from Practice to Industry. In fact that’s one of the great things about Accountancy- you can work in almost any sphere that you want. Even PrawnHub will have an accountant somewhere in their business;)
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