Hello everyone,

I’m new here and so thought I’d better introduce myself! I’m 21 years old and about to graduate out of university with a degree in Psychology, trouble is I hated it so I’m looking for a new direction to go in really. Have been thinking about accountancy for a while now so was hoping to get some answers on a few questions I have!

Firstly, I’m considering studying ACCA, are there any minimum entry requirements for registration? I have good GCSEs and three A-levels and an AS but unfortunately none of these, or my degree would have any relevance to accountancy.

Secondly, with regard to employment while training obviously I can’t expect to walk into an accountancy related job with no relevant qualifications so am I right in thinking I should register with ACCA and take some exams in December before I go applying to jobs I probably don’t have a hope of getting? I have part time employment at the minute and no real financial commitments so I’m happy to stay in it for another while if needs be. Another plus is it is very flexible with hours so finding time to study shouldn’t be a problem.

Finally, have I overlooked anything which should make me consider studying something other than ACCA? I’ve looked into it and so far as I can tell I don’t think I am but by no means is my mind totally set either, besides, everyone here is bound to know better than me!

Thanks in advance.

Well for your first question..

If you’re 21 years old then you can join ACCA through the Mature Students route, I dont think there are any requirements for this route.. however if you opt for this route, You have to pass F2 and F3 in minimum 1.5years before attempting other papers. I dont think that should be a problem.

If you’re under 21 or if you are above 21 and dont want to register through the Mature route, Then you can always register after your A levels. I believe that the requirement is only 2 A levels passed to join ACCA but im not sure.

The entry requirements are not that high, But alot of people start ACCA and then find it very difficult in the later stages..

For your second question, Im not in the UK so dont have any idea how the situation is in UK but i think its going to be really hard to get a job in these sort of economic conditions.

And for your last question, I think only you can answer that question.. Are you really interested in Accountancy? I

First of all, welcome aboard.
Second, have you read much of the ACCA website? http://www.accaglobal.com/

unfortunately none of these, or my degree would have any relevance to accountancy.

Hah! Relevance is overrated.  My A-levels are in science subjects.  My degree is in accounting though (I’ll be graduating shortly too)

the ACCA entry requirements are here… two A Levels and three GCSEs or equivalent in five separate subjects, including English and Mathematics.

If I were you, I’d be looking at accountancy firms’ graduate recruitment schemes.  There are still some who won’t have filled all their places.  Even if they have, they might have a January intake.  They often take graduates whose subject wasn’t accounting. Have you been applying to those sort of schemes.

Thanks for the responses guys, they’ve cleared a lot of things up for me. By the sounds of it I should be able to register without too many problems! I have had a look at the ACCA website, though I’m going to have to check it out in more detail when I get a bit more time I think.

@ alamode -  I probably should have phrased my final question better, I was asking more with regard to choosing ACCA over CIMA or the like, I’ve had a nosey around the forum and from what I gather they seem to be fairly close, but obviously people on here will know more than me. Thinking I may need to sit down and research more about my options though to be sure I’m making the right decision.

@ Peregrine -  My A-levels are also in science subjects so it’s nice to know I’m not the only one! To be honest I hadn’t really thought about the possibility of getting into an accountancy firms’ graduate scheme, I just assumed that I wouldn’t stand a chance without some sort of background in studying accounting. Thanks for the tip, I’ll have to look into that!

John, as has been said, a relevant degree will only get you so far. The rest is about selling yourself and your skills.I have a Biochem degree and I’m not having many problems in this respect. A bigger problem will be getting your foot in the door, but in this your situation is no different from most other graduates.

Most firms have a 2.1 minimum degree requirement for entry into graduate schemes, although there are some that accept a min of 2.2. Other than that, check out the smaller accountancy firms as many are willing to take on grads with little or no experience. Trying to get into payroll/ledger/credit control type roles is likely to be difficult as IME these tend to require previous experience.

As for ACA, ACCA or CIMA, someone more knowlegeable than me will probably come along soon. I have always thought of ACA being an all-round qual, with an emphasis on consultancy. ACCA is again an all-round qual, with a greater emphasis than ACA on audit. CIMA has no audit component, but focusses on management accounting. Really, it all depends on what sort of accounting you’d like to do. If you’re unsure, ACCA or ACA would probably be preferable as these quals leave all career options open. I think that’s right.

My A-levels are also in science subjects so it’s nice to know I’m not the only one! To be honest I hadn’t really thought about the possibility of getting into an accountancy firms’ graduate scheme, I just assumed that I wouldn’t stand a chance without some sort of background in studying accounting. Thanks for the tip, I’ll have to look into that!

Its completely do-able.  I was talking to one of my lecturers about how she got into (teaching) accounting- her degree was in Human Genetics and she went straight into PWC (one of the big 4 firms) right after graduation.

I’m a slightly unusual candidate in that I did the AAT qualification before university (I’m 25), which is possibly why the big graduate schemes don’t want me; I don’t fit neatly into their scheme.  You probably would, despite not having studied accounting.

Conversely, I wouldn’t like to start with the ACCA if I hadn’t have got the background on technical issues that the AAT gave me.  If you don’t get an employer who would specifically take you through one of the CCAB qualifications (ACCA, CIMA, CIPFA, ICAS, ICAEW, ICAI), then I would suggest you start with the AAT.  If nothing else, it would be relatively easier to get a lower-level but still accounting-related job while doing the AAT, and use that to develop into the kind of experience you’d need for higher level professional qualifications.

The difference between the various bodies gets less each year.  Broadly speaking;

ACA- (That’s ICAEW, ICAS or ICAI) is more practice based; accounting firms rather than accountants in commercial companies.  You can do audit with ACA.

CIMA- is more commerce/industry based; accountants working for commercial/industries companies rather than as a private practice. You cannot do audit with CIMA.

CIPFA- Public finance based; accountants in local government, the health service, etc.  Actually closest to CIMA and many public sector accountants are CIMA qualified.  You cannot do audit with CIPFA. (but you can do public sector audits)

ACCA- Makes a concerted effort to be generalist.  With all the good and bad that implies.  Really, every ACCA person I’ve spoken to at careers events talks about how wide they cast their nets.  Both practice and commerce based.  You can do audit with ACCA.

Btw, My A level subjects were also in Science subjects.. It doesnt matter alot because they teach you from scratch in ACCA but its better if you have prior accounting knowledge but its still completely doable without any accounting background.. You just need to work hard.

Well I’m 30+, completed ACCA last year, and did radiography at Uni and for a short while afterwards! I now work in the corporate tax department of the UK subsidiary of a global life assurance company.

Get to your careers office and get as much info about graduate accounting schemes as you can, even those that have closed. For the ones still open, get the CV & application in. For those now closed, go to the website and contact them via phone or e-mail to see if they will accept late entrants &/or when their next recruitment window will open.

Also, get you CV out to local accounting practices, and sell yourself. I believe you can register with ACCA as an undergrad, I think it’s called the Fast track scheme. All info will be on ACCA’s website. To be able to put that you’ve registered with ACCA on your CV may just be the distinguishing factor that gets you the jobs, and shows you are serious about moving into accountancy.

Good luck.