becoming an accountant without the relevant degree?

myright

didnt know where to put this question.

I've got a question for a friend. He is currently working as a Mortgage Advisor and has a degree in Business Studies ( NO specialisation in accounting).

However he wishes now to become an accountant.
?
What's the best route he can take to become one

dano17439

If he is looking to become self employed he will need a qualification. However it can be done, I am a Finance Manager with no recognised accountancy qualification, but I do have 20 year of finance experience so I count myself as QBE.

myright

What qualifications can he obtain in that case?

classy69

He could probably study any of the relevant qualifications which are AAT, ACCA or ICAEW.

Pennywise

classy69 wrote: »

He could probably study any of the relevant qualifications which are AAT, ACCA or ICAEW.

But he won't be able to "practice" as a self employed accountant without stage 2 of the process after passing the exams, which is getting 2/3 years of relevant experience signed off - he needs an employer to sign it off!

Best way is to get a "trainee accountant" job with an accountancy practice. Wages will be relatively low at first, but most employers give their trainees support in the form of paying for courses, study leave, etc., and of course, they're getting the relevant experience alongside.

thenudeone

"Accountant" is not a protected title in the UK.

Anyone can set up an office and describe themselves as an accountant.

The main professional qualifications bodies in the UK are:
ACA - (Chartered) http://careers.icaew.com/ and ACCA - (Chartered Certified) http://www.accaglobal.com/uk/en.html typically qualified in a high street practice and what many people think of as an accountant
CIPFA - (Chartered Public Finance Accountant) usually working and qualified in the public or third sector http://www.cipfa.org/
ACMA (Chartered Management Accountant) Usually qualified and working as an employee for one business or organisation. http://www.cimaglobal.com/

Each of the above has their own set of exams at several levels. AFAIK none of the above require a degree in accounting, although accounting degrees would usually give direct entry to the middle or upper level; someone without one will simply have to start at the very bottom and learn basic accounting first before progressing. Relevant work experience is also compulsory.

All of the above are generally accepted as being equivalent to a Bachelors' degree.

AAT - Accounting Technician - is a lower level qualification

SuperHan

Anyone can set up as an accountant, you only need to be qualified to get chartered accountant status.

If he wants to train, pretty much all of the top 6-7 accounting firms are crying out for auditors. He'll be looking at a 20k starting wage (ish) in the North, 25k ish in the South, progressing to about 35-45k after 3 years of training depending on firm and location.

They will pay for his accountancy qualification on top of that.

Although an accountancy degree gets you some exemptions from exams, it doesn't fast track you to a higher wage... In fact, some firms don't let you take the exemptions, but you are at an advantage from a knowledge/passing perspective.

But yeah, applying for large firms primarily in to audit are the best ways to start on the accountancy path in my experience.

realised

I'm really sorry for hijacking your thread OP but I coincidentally came across this thread and had a question

Does a chartered account have to be registered by the ICAEW? I'm going through some accounts for the residents association where I live which have all apparently been certified by an independent chartered accountant - problem is I can't find him anywhere! The accounts don't look right to me either but that's another story

Thank you (hope your friend finds his way!)

booksurr

realised wrote: »

I'm really sorry for hijacking your thread OP but I coincidentally came across this thread and had a question

Does a chartered account have to be registered by the ICAEW? I'm going through some accounts for the residents association where I live which have all apparently been certified by an independent chartered accountant - problem is I can't find him anywhere! The accounts don't look right to me either but that's another story

Thank you (hope your friend finds his way!)

as you can see if you read the above posts properly anyone can call themselves an accountant

if they then call themselves a Chartered accountant they should be a member of one of the chartered bodies: ICAEW (or the Scottish equivalent!), or ACCA , or CIPFA or CIMA.
Each entitles a bona fide member thereof to describe themselves as a chartered accountant since each is a valid chartered body

there are other institutes who offer professional qualifications but those are regarded as 2nd tier - the wikepedia page is actually a relatively accurate synopsis at this time
http://en.wikipedia.org/wiki/British_qualified_accountants

myright

Thanks guys so how long does it take to do the above qualifications to become a chartered accountant?

thenudeone

If you go to the relevant websites, each will give an idea.
I'd suggest at least 3 years of part-time study whilst working.