Any accountants out there?

[Eggmundo]

No, it's not a "Can you do my tax returns for nothing?" thread!

I am trying to get an idea for my daughter for the best path in to accountancy, she wants to be a chartered accountant and all the different courses that are currently available seem to conflict, one will take you through an apprenticeship but only take you so far etc. I don't know any accountants and consider cold calling one to be a bit of a liberty!
If you can help with any advice I would be grateful if you could PM me. I may take a couple of days to reply as I am back at work and have a stinking cold so will be getting an early night!

But, thanks for reading this anyway

 

[Seagull over NZ]

PM sent

 

[Bad Ash]

I'd suggest having a look at the ICAEW website which tells you the routes to becoming a chartered accountant: http://www.icaew.com/index.cfm?route=150825

She's basically got the choice of doing a degree (3 years) or AAT (2 years) before being able to start ACA (3 years).

The degree probably gives greater future earning potential (however a degree doesn't guarantee you a job in a practice) whereas going with AAT gets you earning and gaining valuable work experience straight away (if you can find a practice to take you on straight from school/college).

 

[Yorkie]

My daughter did a degree and then her 3 years training with Deloitte Touche. They came to the university in the autumn of her third year and made her an offer of employment dependant on her final degree mark.

 

[Pavilionaire]

I'm an ACCA and my dad is ICAEW - even he concedes that ICAEW is the poor relation to ACCA.

ACCA have more students, the qualification is recognised in more countries, it is more transferable, the CPD requirements are more rigorous, it has better membership and student support and it is generally a much more desirable qualification that ACA / FCA.

I'd suggest AAT then ACCA, or straight in to the ACCA - whatever suits her best.

 

[Storer68]

Im sorry She WANTS to be an accountant??

 

[csider]

My friend owns Cardens on Church rd, may be worth dropping them a line.

 

[The Auditor]

My friend owns Cardens on Church rd, may be worth dropping them a line.

Big Bazza ?

 

[The Auditor]

I'm an ACCA and my dad is ICAEW - even he concedes that ICAEW is the poor relation to ACCA.

ACCA have more students, the qualification is recognised in more countries, it is more transferable, the CPD requirements are more rigorous, it has better membership and student support and it is generally a much more desirable qualification that ACA / FCA.

I'd suggest AAT then ACCA, or straight in to the ACCA - whatever suits her best.

Interesting ....I think you are right....I'm FCA ...30 years ago ICAEW was the main player...all our students are now using the AAT/ACCA or straight ACCA route

 

[csider]

Big Bazza ?

Thats the one!!

 

[Adam Virgo's Shirt]

Interesting ....I think you are right....I'm FCA ...30 years ago ICAEW was the main player...all our students are now using the AAT/ACCA or straight ACCA route

I'm a Fellow Member of AAT in practice, and I would recommend she starts with AAT then progresses to ACCA. AAT gives you a fantastic grounding in accounting and ACCA is worldwide recognised so it's really the best way to go imo

 

[Buzzer]

Let's not forget CIMA either. I'm ACCA but speaking objectively, CIMA is as highly regarded as ICAEW or ACCA. It may look specialised but if you don't want a career in practice then either CIMA or ACCA are well worth looking at. If she wants experience in practice then ACCA or ICAEW are the ones. Quite why anyone does CIPFA nowadays unless you really want to spend 40 years in the public sector, I don't know.

Essentially CIMA and ACCA are 3 to 4 year qualifications of about 14 or so exams. Twice a year, home study or college. ICAEW means that you take a training contract with a firm. At least it used to.

It used to be the rich cousin of accountancy but in the last 10 or so years CIMA and ACCA have expanded cleverly especially into the far east markets, China, Singapore, Malaysia and Africa and Europe. CIMA are smaller but as I said, do have a very good reputation. Also, ICAEW have had lots of internal troubles and aborted merger/takeovers which has affected their reputation. That's not to belittle it. It's still a highly marketable piece of paper to have.

As AVS said, AAT is very highly regarded too and you can use your AAT qualification as a big stepping stone towards chartered status or you can remain AAT. I met lots of book-keepers and financial controllers of smaller firms who were AAT.

 

[Seagull over NZ]

Depends where you want to work re ACCA v ACA v CIMA. I have worked in places where the senior management are all ACA (old school) and they will only recruit ACA. From what I have seen CIMA people often get better work experience and more relevant experience but I would say ACA still gives you the wider opportunities than either ACCA and CIMA, but that comes from a slightly biased point of view and experiences I have come across.

 

[the slow norris]

Dont forget theres also the "straight into industry" route. I work for PwC and a number of my colleagues joined the firm at 18 straight out of school. They then go straight into doing the AAT qualification and have now progressed into ACCA. They should all be fully qualified accountants by the time they are 22. PwC are still doing this scheme (sure there are details on the website) and would be surprised if we're alone in the big 4 in offering it.

Benefits of doing it this way - fuly qualified by the age of 22, realistically looking to be a senior manager by the age of 30, get a head start of all those who went to Uni and the colleagues I have worked with who come through this route seem a lot more down to earth rather than those (like myself) who came through the Uni graduate route. Also, no student debt!

Downsides - personally, i had an awesome time at uni and wouldn't swap the 4 years there for anything, even being debt free.

Hope this helps, PM me if you need any more info.