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How to become an Accountant
If you are thinking of becoming an accountant, this guide contains all the information you need on the different routes available
CONTENTS
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Routes to becoming an accountant
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Skills required
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Finding work experience
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How to get a job as an accountant
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What it's like to be an accountant
Routes to becoming an accountant
There are several different ways to study and train to become an accountant depending on your preferred learning style. Whichever route you take, you’ll need to complete training with one of the professional accountancy bodies, even with an accountancy degree. There are a number of organisations to choose from including the Chartered Institute of Management Accountants (CIMA), the Association of Certified Chartered Accountants (ACCA) and the Institute of Financial Accountants (IFA).
Undergraduate degrees
If you’re thinking of doing accountancy, you can often combine this subject with another like business or a language to gain a joint honours degree. Courses at this stage usually take three or four years to complete. Entry requirements vary but typically range between 96–160 UCAS points.
Qualified accountants often hold a university degree, but it's not essential and could be in any subject. Once you have an undergraduate degree you can apply for a graduate scheme that offers training towards a professional accountancy qualification.
Degree apprenticeships
Securing an accountancy degree apprenticeship enables you to work while studying for a recognised qualification. You’ll also earn as you learn and receive the same benefits as other employees like a paid holiday allowance. There are various apprenticeship levels on offer with different entry requirements. Some degree apprenticeships could include the required training with a professional accountancy body. You can search for apprenticeship vacancies via Find an apprenticeship.
Postgraduate degrees
A postgraduate degree might be a good move if you are already working as an accountant and looking to further your career by researching or specialising in a particular area. For example, you might want to increase your knowledge and skills in forensic accounting or business recovery and insolvency. You’ll usually need an undergraduate degree as a minimum and will study for two years part time or a year full time.
Skills you’ll need
To become a successful accountant, you’ll need the following skills:
- Teamwork
- Effective communication
- Technical knowledge
- Analytical thinking
- Administration skills
- Initiative
- Maths knowhow
- Confident working with accountancy software and IT systems
Finding work experience
A work placement, shadowing or even virtual work experience will give you a feel of what’s involved and will be valuable experience to share at a university or job interview.
Try looking for work with:
- Large financial institutions like Deloitte
- Individual companies you’d like to work for
- Volunteer treasurer roles with charities or community organisations
How to get a job as an accountant
Accountants are sought after in almost any sector so there’s lots of scope and you may want to choose a sector that interests you most. Try looking for jobs with commercial companies, small or medium accountancy practices, local councils or charities and non-profit organisations.
What it's like to be an accountant
Depending on your role and specialisation, your tasks could include:
- Overseeing the company's payroll, credit control and bookkeeping systems
- Preparing accounts and financial statements
- Analysing the company's financial performance
- Forecasting future spending and profits
- Suggesting ways to reduce costs and increase profits
- Monitoring spending and budgets
- Making business decisions
- Auditing departments in the company
- Preparing business reports for outside agencies
You might work from home, an office or at a client’s business. As a graduate you could start on approx. £25,000 although salaries vary according to company size and geographical location. With extensive experience and further training, you could earn up to £56,000. You might also decide to go self-employed once you have a network of contacts. After five years' experience your salary can rise up to £90,000.
Is a role as an accountant right for you?
If you are fascinated by the world of business and motivated to complete additional on the job training, a role as an accountant could be for you.
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