How do I get into accountancy as a career and where do I begin? - ACCA, ACA, CIMA, CIPFA, AAT, ATT
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- Опубликовано: 25 окт 2020
- In this video I walk you through how you can get into accounting as a career and where to start on your journey.
Here I discuss in detail the AAT (Association of Accounting Technicians), ACCA (Association of Chartered Certified Accountants), ACA (Association of Chartered Accountants), ATT (Association of Tax accountants), CIMA (Chartered Institute of Management Accounting), CIPFA (Chartered Institute of Public Finance Accountants) and IAB (International Association of Bookkeeping).
I hope this answers a few questions for you and helps you on your journey to a career in finance, otherwise let me know if you have any further questions.
If you would like to support me in my endeavours to help accounting and finance students you can now do so through Patreon :) - all support is greatly appreciated x
/ missfinancetutorials
So helpful! Thanks
superb vid :D
Thank you Tom :D
This is a really informative video ! Thank you
Thank you Rob I am glad you found it useful :)
Thank you
CIMA part is missing some details and appears in your video almost in a lower category than ACCA however this is not true. CIMA requires the submission of 3 year's practical experience as well. After a successful review of practical experience and once all exams are passed CIMA holders are entitled to a CGMA designation (Chartered Global Management Accountant).
Hi MsSkeya CIMA, ACA, ACCA and the other professional accountancy qualifications are discussed on the video to help individuals get an idea of each of the qualifications and provide insight to help them to decide which qualification if any they would like to pursue however I am sorry if it appears that any one of those qualifications is favoured over another which is not the intention here x
Hi Rebecca,
Apologies if this has already been asked and I have missed it!
I’m currently studying aat level 3, having finished level 2 and the intention of studying 4. I would like to continue on to ACCA after aat but I need like 3 years worth of work experience in an accountancy practice?
So does that mean that you need to try and get a job in a practice? What if you can’t? I work in a commercial finance assistant role and am a bit concerned!
Thank you.
Hi AJH I have met other individuals who have gained experience and relevant experience working in industry. Unfortunately I think the only issue that arises is that the majority of the time they require your experience to be signed off by an approved employer which is usually in practice. However I will ask the question for you here and will put another reply x
I’m thinking of starting the AAT however it’s complicated I’m planning on self studying but I’m not sure if AAT provide the study resources such as the textbooks and Kaplan charge £200 for a single topic
Hi Racetofindtheglitches AAT is the qualification but the likes of Kaplan and first intuition provide the course and the materials for you. If you self study you will have to book the exam through the AAT website but if you go through either of them most of the time they will book this as part of the fees for the course x
Hey, I graduated in 2019 with a degree in BSc Accounting and Finance. I have been working for a large aerospace company in an admin role and have now been given an option to study for a accounting qualification of my choice whilst working. What would you recommend? My guess is ACCA?
Hi Bawa if you already have a degree then ACCA or CIMA might be good options. If you are working in industry and not practice in a more management accounting role then CIMA could be slightly more beneficial for you :)
@@RebeccasFinanceTutorials Thank you for your response. My current role is not accounting related, would this be an issue in regards to the practical experience aspect of CIMA?
@@Bawa-qw7jd In answer to your query: yes, in short. If your role is pure administrstion then it will not count towards the qualification experience requirements with any of the accountancy institutes. The longer answer is: You mentioned that you are given the opportunity to study professional accountancy. If this is with your employer, a large aerospace company, then you may wish to put forward a proposal for a secondment into the finance department. There may also be a mentoring system, that can support you through the more advanced stages of the qualification. Further, look through the sections of the CIMA website as these will tell you in more detail about exemptions of prior learning, courtesy of your finance degree. Some (but not all) degrees of this nature have agreements with the accountancy institutes to gain as much as 9 exemptions. You will need to check your own degree syllabi and the syllabus of the professional body you wish to join. A quicker way is to check with your former university. Bear in mind that CIMA/ACCA are entirely different. CIMA is viewed as a broad business management education as well as a strong slant in management (and costs) accounting. There is not much auditing or tax. ACCA is much more financial accounting, personal and business tax, external audit, business advisory, ie, the typical "high street" services. Again, albeit different, the ACCA is not dissimilar to the ICAEW. I would say look at all three websites, do your research, and conclude what is the best path for you. Having said that, your employer may give you limited choice on which route to take, so if you haven't already, speak to them in much further detail, as they sound very supportive; and your organisation has HR/training and develop pros' as well as those in (senior?) authoritative decision-making. If they have given you this brilliant opportunity, they will most certainly support you on how best to proceed. Best wishes!
Thank you for such an informative video. Do you think any of these qualifications can be an option for people having non accounting background? For instance someone with engineering degree who seeks for more of managerial position in career for future.
Hi Syed yes absolutely I have had plenty of colleague in the past that have taken their career in other directions after obtaining the aat and they have all commented that having that knowledge and basic finance understanding has really helped so I think it would be beneficial to you and others in the same situation x
What qualification do you recommend who is in their early 30s, I'm planning to switch from retails to accounting
Hi empty Mi I would recommend the aat for entry level and changing careers certainly x
Started ACCA in 2009, passed 5 papers so far, had some hurdles, and stopped. Now I want to go back to ACCA and finish because I feel that's where my heart belongs but don't know how to do it. I really need help and my ACCA account is blocked.
Hi Jesse I might be able to help here if you join the fb group here I can chat on messenger and hopefully help x facebook.com/groups/813116915891471/?ref=share
Hello Rebecca,
I want to learn accounting as a skill for future because I am taking the major in university that does not suit me so much and I am unable to transfer to other degrees. Is it ok to directly start ACCA and skip AAT? Will I still find accounting job with ACCA only because it takes so long to both take AAT and ACCA. Thanks:)
Hi hun yes absolutely you can skip AAT and move straight to the ACA if you would like. I would always recommend finding a training provider who will put you through your studies and train you on the job. Go to the aat website they have a list of recognised training companies x
Hi, I had a degree in BA Accounting and Finance since 2016 but never had the opportunity to practise as struggled to find employment, but now looking to come back but not sure what route will be best Cosidering how long I have left it
Hi Suliat I think your prior background academically will certainly help you with finding a role within finance and it has only been 5 years since you obtained the qualification so it's not a huge gap by any means. I would try and look for roles such as trainee business advisor or trainee accountant and tell the employer about your BA and they might wish for you to start the AAT or you may have exemptions and be able to obtain a student contract through the ACA / ACCA or if it is within a company and not an accountancy practice then perhaps even CIMA :)
HELLO Miss Finance came over from Leadfarmer 73. Can I get information on how to by a home 🏡. My son has nothing in his name. They have declined a credit card bc of no credit established. What can he do? We live in Northern California. Thank you
Hi Patricia I actually have a video which might help him in terms of establishing credit and options available because I know it's quite hard to build up credit especially in these times but all the best to him ruclips.net/video/QctnVjWlUDo/видео.html In terms of buying a home unfortunately I am the best option to assist as I am UK based and I understand the laws in California are different hun x
Hi Rebecca, your channel is very informative and this particular Video is brilliant.
I have been working in retail sector for nearly 14 years in Management Role.
My academic background :
I have studied Accounting, Business and Economics in my year 12 ( Equivalent to A levels)
Similarly i have done my university degree as B.Com (Bachelor of commerce) from India. In my degree i did sudied Accounting, Economics, Business Law and Taxation.
Back in 2011, i have done my master degree from portsmouth University specialising in Strategic business Informatio Technology.
I have been always thinking about pursuing my career in accounting sector however due to various hurdles could not do it
Now i am 45 and really want to work in accounting field. Could you pleas advice me what do i need to do ? Where should i start from?
Clould you please help.
Thank you.
Hi Subhash thank you for your comment, I would explore what jib roles are available with your degree and masters and which qualification you would like to undertake thereafter I. E. If you want to work in practice then it might be worth looking at the ACCA and job roles offering study towards the qualification. Alternatively if you want to work in a finance function within a business it might be worth looking for job roles offering a CIMA study contract as a starting point x
@@RebeccasFinanceTutorials thank you so very much for your reply. Much Appreciated. Do you think the gap between my degree and now will make difference to me choosing accounting and finance career now?
Secondly you mentioned about CIMA study contract, where could i find those type of study contract? Is it on the job training + study?
Is it possible to have more information about it please.
Looking forward for the information.
Much obliged.
Regards
Subhash
hi miss finance, Currently undertaking my AAT apprenticeship level 3. I have been told that after the AAT level 4 you can go onto finishing the remaining 2 years at uni in accounting & finance. So my first question is what unis accept an AAT apprenticeship as a sole entry requirement? and Also is it only accounting & finance that one could study or could you do say economics & finance?
Thanks
Hi hun so with aat level 4 that's the equivalent of a diploma so in terms of researching what universities would accept this it really does depend on the university and the course you want to apply to. Most universities have a support email so it might be worth contacting them directly and asking if having the aat level 4 diploma would be enough credentials to start a particular course. Unfortunately I can't give you a direct answer as some universities have different levels of entry criteria x
Plz check Oxford Brookes ... thay accepts att qualifications as an entry requirement .... with level 4 you can skip year 1 of degree as well ..
Hi, very informative channel. Well done. Unfortunately, I'm confused as to which would be good for me to takin.
I have a degree in Business Studies which I finished 2-3 years ago, but have no work experience related to that unfortunately as I've been trading since then.
I wanted to study accounting further as to have a career which I can build into. Which qualifications should I get into?
Regards,
Hi Charles I would recommend looking at the AAT or ACCA firstly if you want to start a career in pure finance or if you want to start a career in more of a management role within a company then look at CIMA which is always a good place to start x
Thank you for the informative video. I have a degree (not finance based) and have just finished AAT level 2 while working within a large finance team in industry. I'm considering moving onto ACCA instead of continuing AAT, as the ACCA qualification is something I want to do regardless. Do you think its possible to go straight into ACCA with the right support?
Hi there yes I absolutely do, you can jump into the ACCA and your previous study experience with a degree will certainly help you here x
@Miss Finance that's great thank you for the advice. 😊
Hi Rebecca, I I have done my bachelors in commerce, I am an International student doing my masters in UK, London and have work permit of 20hrs per week. I want a job as an accountant in UK. Which course should I choose to start earning as an accountant as early as possible to gain relevant experience while doing rest of the study.
Hi Zayed I would highly recommend the AAT or ACCA or ACA if you currently have a degree as you may have exemptions towards those qualifications :)
Hello, first I want to say that I really enjoyed that video and I have been watching a few of your other videos. After watching them it was a easy choice to click the subscribe button👍.
I’m wondering if you could give me advice? I’m 29 and I’m thinking of doing a career change. I graduated with a degree in business back in 2014 and did payroll for two years afterwards. I moved to Canada after and have been living here for about 3 years now. I will be moving back to England at the end of the year and I want to get into accounting but I am a little confused on what route to take. I could do the AAT? Or I just recently found the ACA qualification, could I still do that as a graduate eventhough I graduated nearly 7years ago? Is it really hard to find an employer when studying the ACA. I would prefer to get some income at the same time. Any help and advice would be greatly appreciated. Thank you
Hi Redman thank you so much :) OK so if I was in your shoes I would look at either a company that is offering an ACA study programme so you will get paid and study or you can also do this at AAT level. You should be fine to study ACA even if it was 7 years back when you got your degree hun but at ACA level they will ask you to undertake a few skill set and knowledge tests as part of the interview process. I personally did AAT then ACA and although the scope for earnings is higher with ACA, the AAT gave me a really good base. Also because you have worked in payroll there will potentially be a bit of overlap from the AAT so you may know a fair bit already so to summarise I would honestly try the ACA I hope that helps Redman x
@@RebeccasFinanceTutorials hello, this helps soo much thank you! I’m curious with the skill set/knowledge test I may have to undertake in the interview process for a ACA role, would it be very focused on accounting? or basic general knowledge skill set like maths, Microsoft office etc? Also just because you mentioned AAT gave you a good base to start with, if I took that route would you recommend me doing all levels 2,3 &4 than into ACA? Or could I do maybe just AAT level 2 than go into ACA afterwards?
Thanks again soo much for your help and speedy response! I really appreciate it
@@redmanstiller Hi Redman you would need to do at least level 3 and level 4 to then go on and study ACA as sometimes you can get exemptions from level 2 x you always have the option of taking ACA if you finish AAT but the AAT would still be a diploma in its own rights :) there may also be funding that you can get towards the AAT to help but I am not aware of any for the ACA but if you do decide on the ACA then it's worth trying to find a provider to fund you through it like BDO, MHA, PWC etc x the tests for entry change year on year and company by company but they definitely do test your general skill set with a little accounting depending on the role you go for x
@@RebeccasFinanceTutorials hello Miss Finance, that makes sense. At the moment I’m still thinking maybe I should do AAT first or as back up in case I can’t find a employer who will fund me the ACA/ACCA. Would you say that’s difficult/competitive to find an employer who will fund the ACA/ACCA?
If I could find one quick I guess that’s brilliant, otherwise I feel I would have to do the AAT route which isn’t bad like you said cause I’ll know the bases beforehand, but this makes the process of being a qualified accountant much longer :/
Can you do an ATT apprenticeship then move onto ACA apprenticeship
Hi hun yes you can x
Hi! I am student of ACCA, I am finding it hard to find hands on practical work experience while studying. Kindly can you guide me how can I find the right organization who can train me on the job while I can study online.
Hi hun if you are currently studying the ACCA it might be worth checking out James channel as he wojld be best placed to help here if you search James Wright ACCA on RUclips x
I have a BBA in accounting and finance, so what's the best next step to take among all these
Hi Mumba if you already have a BBA then it might be worth looking at CIMA or ACCA as AAT gives you that primary base knowledge which you might already have and usually individuals who take AAT then tend to study either ACCA, CIMA, CIPFA or ACA. If you go to their website too there is a section where you can check for eligibility criteria and exemptions which will help
@@RebeccasFinanceTutorials thanks very much
I wanted to do a degree in accounting and finance does that mean I still need to do AAT before I go onto do ACCA?
Hi hun no you can always complete a degree in accounting but the ACCA and ACA and CIMA etc are all higher education which are usually completed after a degree :)
@@RebeccasFinanceTutorials thanks for replying but I’m still a little unsure so is AAT optional?
Hi hun so the aat is similar to a diploma or apprenticeship and once completed you can study ACA, ACCA etc but if you want to go down the degree route instead of aat then you can of course
@@RebeccasFinanceTutorials ohhhhh okieee thank you so much xx
Your sound very low Maam , please speak little louder