Qualifications to get in to accounting?
Discussion
First off this is asked on behalf of my girlfriend not for me, she has decided a career in Accountancy is for her, frankly I'm over the moon she has decided what she wants to do as after losing her job a few months ago she has been unemployed and to be blunt that isn't a side of life I am comfortable with (having never claimed a days dale in my life).
The question is there seems to be quite a lot of courses offering qualifications in Accountancy, but I imagine it is much like most industries where there is a core qualification which is the industry standard and then a load of virtually useless qualifications which will waste her time. Which are the qualifications she needs? I hope she will aim towards being a full Accountant possibly trying to secure a part time job/experience as an Accounts assistant in the mean time.
The question is there seems to be quite a lot of courses offering qualifications in Accountancy, but I imagine it is much like most industries where there is a core qualification which is the industry standard and then a load of virtually useless qualifications which will waste her time. Which are the qualifications she needs? I hope she will aim towards being a full Accountant possibly trying to secure a part time job/experience as an Accounts assistant in the mean time.
Association of Accounting Technicians (AAT) is the quickest route to becoming a chartered accountant.
Depending on what qualifications/knowledge/experience she already has it can be done in 2 years, starting from scratch would be 3-3.5 years, followed by another 2 years for the ACA qualification.
Depending on what qualifications/knowledge/experience she already has it can be done in 2 years, starting from scratch would be 3-3.5 years, followed by another 2 years for the ACA qualification.
k me, that was quick!Tuscan Tart said:
Association of Accounting Technicians (AAT) is the quickest route to becoming a chartered accountant.
Depending on what qualifications/knowledge/experience she already has it can be done in 2 years, starting from scratch would be 3-3.5 years, followed by another 2 years for the ACA qualification.
On top of Degree or in substitute of?Depending on what qualifications/knowledge/experience she already has it can be done in 2 years, starting from scratch would be 3-3.5 years, followed by another 2 years for the ACA qualification.
wildoliver said:
Tuscan Tart said:
Association of Accounting Technicians (AAT) is the quickest route to becoming a chartered accountant.
Depending on what qualifications/knowledge/experience she already has it can be done in 2 years, starting from scratch would be 3-3.5 years, followed by another 2 years for the ACA qualification.
On top of Degree or in substitute of?Depending on what qualifications/knowledge/experience she already has it can be done in 2 years, starting from scratch would be 3-3.5 years, followed by another 2 years for the ACA qualification.
wildoliver said:
Seems far too easy!
famous last words!many people give up half way through, but the qualifications have been made easier imo over the last decade or so. Try googling BPP for courses, or put in the relevant qualification that she wants to study for millions of other offerings.
loads of bravado over which is better, but i'll spare you the trouble, CIMA is obviously the better
- unless you want to be an auditor or do someone elses books. /awaits torrent of abuse/wildoliver said:
Well she doesn't have a degree currently, is she better off doing the Accounting degree AND the CIMA qualification, or just doing the CIMA?
Depends if she wants to go down the managerial accounting route or the financial accounting route.CIMA is managerial, ACA/ACCA are financial.
There is a long thread on it somewhere.
If you look at:
http://uk.accaglobal.com/uk/join/
You sit 14 exams and have to gain min 3 years experience at the same time. Also once you pass the first 9 exams and submit a report you gain a BSc(Hons) in Applied Accounting from Oxford Brookes.
HTH
http://uk.accaglobal.com/uk/join/
You sit 14 exams and have to gain min 3 years experience at the same time. Also once you pass the first 9 exams and submit a report you gain a BSc(Hons) in Applied Accounting from Oxford Brookes.
HTH
scotal said:
As the spouse of an ACCA qualified accountant, may I suggest you need to be as much behind this decision as she is.
The dedication to study required to get ACCA whilst holding down a job is pretty impressive.
oh and BTW ACA look down on ACCA and they both look down on CIMA.
and the same is true of CIMA looking down on ACCA The dedication to study required to get ACCA whilst holding down a job is pretty impressive.
oh and BTW ACA look down on ACCA and they both look down on CIMA.
tbh they are on a par. ACA is more technical and therefore more dry which is why I wanted to go down the industrial route of finance rather than practice.I could be wrong but without a degree you may have to do AAT first as this is more of a 'basics' course as I understand it. Really depends how far up the corporate ladder you want to travel, ACCA, CIMA, ACA will help you travel further, otherwise AAT is a good start, but may ultimately limit your ceiling if big money jobs are being chased.
Make no mistake, it isn't easy and will take up most of someones social life for 6 months of the year for a good few years. There were 16 exams when I did it, no idea now but you can do a maimum of 4 per sitting (2 sittings a year). A relevant degree in finance will get you exemptions for ACCA or CIMA (and I think ACA). I had 9 exemptions so saved me a year of study. Took me 2 years to qualify, I have friends who are still sitting exams 10 years after they started!
The ACCA vs. CIMA vs. ACA 'argument' is as old as the cyclist vs. driver argument.
They're different qualifications with different areas of focus.
The way I see it is ACA is the most repsected. This is the one you would study for if you worked in practice for PwC, Deloitte etc and is well regarded. It is used in all industries with a focus on audit but with the option to specialise (Corporate Tax, for example). Focus is financial accounting, reprorting historical info.
ACCA seems to me to be similar to the above, but is studied by those working in business, not necessarily in practice (as above). Its well respected but IMO for what it does, its overshadowed by ACA.
CIMA is management accounting, more commercial, used in a broad range of industries with less of a focus on financial accounting.
With regards to AAT, IMO this is something that is the foundation for moving on with a qualification. IMO it should be the beginning of an education not the end.
They're different qualifications with different areas of focus.
The way I see it is ACA is the most repsected. This is the one you would study for if you worked in practice for PwC, Deloitte etc and is well regarded. It is used in all industries with a focus on audit but with the option to specialise (Corporate Tax, for example). Focus is financial accounting, reprorting historical info.
ACCA seems to me to be similar to the above, but is studied by those working in business, not necessarily in practice (as above). Its well respected but IMO for what it does, its overshadowed by ACA.
CIMA is management accounting, more commercial, used in a broad range of industries with less of a focus on financial accounting.
With regards to AAT, IMO this is something that is the foundation for moving on with a qualification. IMO it should be the beginning of an education not the end.
If you're unsure of the difference between Financial and Management accounting, if you imagine two guys in a car, one driving, one looking out the back window taking notes. The guy looking out the back window is the ACA/ACCA guy, recoding and reporting historical information. The guy driving is the CIMA guy, listening to historical information and driving the company forward based on this. Apparently.
Pork said:
If you're unsure of the difference between Financial and Management accounting, if you imagine two guys in a car, one driving, one looking out the back window taking notes. The guy looking out the back window is the ACA/ACCA guy, recoding and reporting historical information. The guy driving is the CIMA guy, listening to historical information and driving the company forward based on this. Apparently.
Seriously, I know lots of ex-audit ACA's who are high performers in industry and a world away from pure financial accounting
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