Dear Members,

I am currently looking to study AAT Lvl3 for my univercity entry. I have always wondered how accountants progress through a company. For example, for my degree I have a choice of Mathematics, Economics or Accounting and Finance.

I was wondering, if I chose the Accounting and Finance degree, I would be part qualified ACCA (would need 5 more modules and 3 years experience to become fully qualified). With such a degree, where would my carrier take me, waht are my options?

You have to understand,I havent really got any financial/accounting work experience, I am not really sure how the structure works. For example, how many accountants start off as a Junior/Assistant Accountant and end up with a role such as, say CFO (Chief Financial Officer)? If not CFO, thne what other roles are out there?

I guess I am looking to see what kind of options are available to me in the long term haul. What are the possibilities, where could I branh out to with accounting?

Kind Regards
Alexander

Well, the ACCA qualifiaction should you happen to study for that covers a lot of ground, its not all number crunching. Economics, Project management, reporting, audit all feature in the qualification

The role of the modern accountant covers more than working out a few tax returns these days, and although professional qualifications are generally regarded essential in the work place, I would say experience still counts for a lot more, you get QBE accountants that have never picked up a text book, it certainly doesn’t mean they should be overlooked.

Role wise, there are many areas to work in. You can stick to the Financial side, the number crunching side, preparation of statements, maintenance of the GL, accruing and prepaying, tax returns, stats etc.. Or look to the Management side more, Budgeting and Forecasting, Financial control, Analysis etc. You can look to enter into practice or commerce, both offering varying environments to work in, stay in the technical side, or enter into Management

I have to say that the Accounting profession is probably one of the more versatile ones out there, once you’re ‘in’ it, theres a world of various opportunities

I started off as an Accounts Payable clerk, im now a Financial Accountant in a large security company, im now looking at taking steps towards Financial control, whilst I finish my ACCA. Im only PQ, yet I work along side qualified people due to my experience

Carl28 - September 03 2010 07:07 AM

The role of the modern accountant covers more than working out a few tax returns these days, and although professional qualifications are generally regarded essential in the work place, I would say experience still counts for a lot more, you get QBE accountants that have never picked up a text book, it certainly doesn’t mean they should be overlooked.

Not trying to be picky, but how can experience count a lot more than “essential”

I’m still trying to work out the balance of importance. Of course experience is very important but qualitfications are essential as you say, for the board to allow you into that role. Often experience can be offset somewhat with additional support by auditors or other accountancy firms.

Money - September 03 2010 09:54 AM

Carl28 - September 03 2010 07:07 AM

The role of the modern accountant covers more than working out a few tax returns these days, and although professional qualifications are generally regarded essential in the work place, I would say experience still counts for a lot more, you get QBE accountants that have never picked up a text book, it certainly doesn’t mean they should be overlooked.

Not trying to be picky, but how can experience count a lot more than “essential”

I’m still trying to work out the balance of importance. Of course experience is very important but qualitfications are essential as you say, for the board to allow you into that role. Often experience can be offset somewhat with additional support by auditors or other accountancy firms.

i said ‘regarded as essential’

at the end of the day, whos better, the person that has done it and knows it, or the person that knows the theory? ideally you want the person that has both

Carl28 - September 03 2010 10:02 AM

i said ‘regarded as essential’

at the end of the day, whos better, the person that has done it and knows it, or the person that knows the theory? ideally you want the person that has both

You’re right, and it’ll come down to the judgement of the ED or whoever else is picking the person.

What can make the judgement harder is that; qualifications are easy to prove, and experience is more difficult, needing a long discussion of exactly what you’ve done.

Well thank you for the answer, seems you need both experience and kniowledge.

Hmm, at the moment I am looking to do an AAT Apprentiship, not really sure what it involves but the lady on the phone said they will find a placement for me and I will be able to do my AAT beyond lvl3. I figure its a nice compromise to take the year off to gain a valuable qualification and some working experience at the same time. The only thing that concerns me is that I would end up with a below par admin position type job serving cappucinos than gaining any valuable experience.

Either way, at degree level in accountancy,  get exempted from 9 ACCA papers, do you think that It is worth taking a degree in Accounting, or better to take a degree say in Economics?

Regards

If you’re really really sure that you want to work in accountancy… just do AAT and then ACCA. No need for the degree and you won’t be putting yourself in loads of debt either. I have an accounting degree and loads of debt so I speak from experience lol.