Accountancy

[mr sheen]

I am about to be made redundant, and am looking at the possiblity of retraining for an accountancy type role. I have good numeracy skills, and a background in managerial positions which include budget management, and liaison with accountants, so am intellectually capable. What I'm less clear on is all the different types of qualifications - Bookkeeping, AAT, CIMA, ACCA etc etc

Anyone been through any of these and able to advise?

 

[Seecider]

Did the ICAEW (ACA) exam years ago myself. I'd say AAT is the best recognised staring level qualification at the moment. (I've employed several people who've had it). I'd say if you've got A levels and common sense/work experience, you'd not find it too challenging and it can lead on to higher level qualifications.

 

[Coleby1007]

I started working as an accountant just over a year ago. Started on the AAT course doing it via distance learning. Just got 3 final year exams to go now. Then going on to do ACA. AAT is the best starting qualification that will give you a good foundation. Then depending where your working and where you want your career to go you have a choice of ACCA, CIMA, ICEAW and ACA amongst others.

 

[Mikey_JB]

Hi

Slightly different advice from me from what it's worth - I would go straight in for either the ACCA or CIMA qualification. Whilst the AAT does indeed give a good grounding, it will not have nearly the same weight as either ACCA or CIMA when going for future interviews. The ACA qualification tends to lend itself more to accountants in practice than in industry.

Cheers!!

Mike. (ACCA qualified)

 

[mr sheen]

Thanks all. With regard to the above, is there any need to be working in the sector whilst taking them? I have qualifications up to post grad level in management, so may be some transferrable bits from that which mean I don't have to start at access level.

 

[the slow norris]

Hi

Slightly different advice from me from what it's worth - I would go straight in for either the ACCA or CIMA qualification. Whilst the AAT does indeed give a good grounding, it will not have nearly the same weight as either ACCA or CIMA when going for future interviews. The ACA qualification tends to lend itself more to accountants in practice than in industry.

Cheers!!

Mike. (ACCA qualified)

I agree with Mike. Am ACA qualified myself (through a big 4 accountancy firm), and my sister is just re-training as an accountant. She is doing the ACCA route, rather than AAT. Reasons are if you are serious and competent, then there is no real point in doing AAT, as you will just have to re-tread some of the syllabus again on ACCA/CIMA. So may as well pay your money once and do the ACCA. That said, if you're just dipping your toe in the water then AAT is ideal.

Difference between ACCA and CIMA is that ACCA is a more rounded course, encompassing all aspects of accountancy wheras CIMA is more heavily weighted to management accountancy (as the title suggests). If I were in your position, I'd plump for ACCA as it leaves more options open.

 

[Hunting 784561]

Well I wanted to be a lion tamer !

 

[Coleby1007]

I agree with Mike. Am ACA qualified myself (through a big 4 accountancy firm), and my sister is just re-training as an accountant. She is doing the ACCA route, rather than AAT. Reasons are if you are serious and competent, then there is no real point in doing AAT, as you will just have to re-tread some of the syllabus again on ACCA/CIMA. So may as well pay your money once and do the ACCA. That said, if you're just dipping your toe in the water then AAT is ideal.

Difference between ACCA and CIMA is that ACCA is a more rounded course, encompassing all aspects of accountancy wheras CIMA is more heavily weighted to management accountancy (as the title suggests). If I were in your position, I'd plump for ACCA as it leaves more options open.

Id agree with most of that, in the fact that if you have experience in accounting and are working in an accounting environment I would jump straight in. However AAT is a very good foundation in terms of general accounting and tax knowledge, also the fact AAT has many fast track routes through to ACCA and CIMA and ACA where you get alot of exemptions on the beginning modules of the higher qualifications.
I decided to do AAT because of my limited experience in accounting before i started ( i did my degree in exercse and nutrition) and because of the fast track option. After i complete my AAT, which im hoping to do in the next 4-5 months i get exemptions in all but 1 module in the first level of ACA and ACCA. So just by completing AAT you have a qualification albeit not as strong as ACCA or its equivalent and you start halfway through one of the main accounting qualifications.

 

[NMH]

Well I wanted to be a lion tamer !

Is it not worrying, that they have that predilection for the consumption of ANTS?

 

[Hunting 784561]

Is it not worrying, that they have that predilection for the consumption of ANTS?

someone gets it

 

[Giraffe]

Hi

Slightly different advice from me from what it's worth - I would go straight in for either the ACCA or CIMA qualification. Whilst the AAT does indeed give a good grounding, it will not have nearly the same weight as either ACCA or CIMA when going for future interviews. The ACA qualification tends to lend itself more to accountants in practice than in industry.

Cheers!!

Mike. (ACCA qualified)

I agree with Mike too. As someone who regular recruits at a lower accountancy level I would put a lot more confidence in someone who is part qualified ACCA than fully qualified AAT. And also if you do AAT and then ACCA you're probably wasting a year of study.

 

[Bad Ash]

Do you have a degree?

As others have pointed out AAT is a starter qualification. I believe it takes around *2 years to achieve AAT (I didn't do it).

To be able to enter CIMA you need either a degree or AAT. If you have AAT you can skip the first year of exams, which is 1 year of a 3 year course.

Therefore if you were to choose CIMA and had a degree I'd join CIMA straight away as it would take 3 years to qualify. Otherwise take AAT first and you could qualify in 4 years.


*Almost all the qualifications are modular, so when I refer to years I'm assuming you take the 'normal' number of modules (2-3) in a term (half year) and pass them all first time.

 

[Danny-Boy]

I agree with Mike. Am ACA qualified myself (through a big 4 accountancy firm), and my sister is just re-training as an accountant. She is doing the ACCA route, rather than AAT.

Me too but many moons ago, when it was more than the big four, I went for interviews with both PW and Cooper's at the time. The PW bloke then even had a waistcoat and watch-fob...

Missed out on the great PC revolution though, didn't retrain on them until it was too late. Now I find accountancy boring.

I think AAT is useful, after all you're always assured of a job helping people to avoid their tax burden.

 

[mr sheen]

Good stuff, thanks all,