Practice or Industry?

Touchee

Hi All,

At the moment, I am trying to make an informed decision regarding my career path and I hope some of you might be able to offer some info.

I'm an Accounting Technician, just qualified, I have some experience (2 years) working in Industry as an Accounts Assistant. I have recently been offered 2 positions: one in a top 6 practice as a trainee in audit (training contract 3.5years), one in industry (accounts payable/receivable position - no month end accounts prep) with a big company, will probably pay for ACCA, salary is considerably higher, working hours 9-5, not much overtime expected.

I would like some day to be an accountant, I love working in accounts and this is what I want to do for the rest of my life. However, I don't really want to work in accounts payable/receivable for too long, I don't think you really need a qualification for this, everyone can post an invoice, it's not rocket science. What I like is being involved in month end accounts, management accounts, budget analysis.

From this point of view, I think audit would be more appropriate for my needs, however I am a bit scared by all the horror stories I read on boards. Is auditing really that bad? Are working hours really that long? Are you able to attend lectures?

I am also a bit old for a trainee position (27 years old), I am also a foreign national, don't know what my chances are to succeed in auditing....

If anyone could offer some feedback, I would really appreciate it...

Touchee

Anyone?

thefa

I don't see your point of view that auditing is more appropriate for your needs if you want to be involved in month ends and budgets.

In the big industry company is there a large accounts team with sufficient movements that you see yourself getting the chance to be working on what you want if you impress enough?

Touchee

Yes, there is quite a large accounts team, I think around 15, so probably in time there will be room for advancement if I prove myself capable of taking on more responsibilities.

On the other hand, my personal preference would be auditing (maybe I listed the wrong reasons in my OP). The only reason why I am questioning auditing is because I read some stories where auditing was described as a soul destroying job, where you work long hours, no personal life, and so on.

I guess I would like to hear a success story as well, which could probably help me to choose audit.

Brewie

I love auditing and preparing final sets of accounts and would love to get back into practice.

IMO the majority of horror stories you referenced were in the big four, on training contracts and couldn't wait for it to end so they could leave.

Auditing in a medium firm (say 2 - 5 senior partners) will be a whole different experience then the big 4. To be clear both type firms have their own pro's & cons. Work/life balance being one.

This is just a complete personal opinion, I think the majority of people that join the big four and are worked in the auditing section tend to dislike it, some bordering on hatred. From listening and talking to old college friends, of the 5 or 6 which I still talk to now, all couldn't wait to put in their 3.5 years and get out of auditing with the big four, where as I joined a medium firm in my town and loved every minute it.

If you get talking to people and they tell you its soul destroying push them to explain it to you why with clear reasons.

Prettyblack

I'd look into all the options really - auditing would be under a contract and would be tough work, but then you're focusing on practice and that would be a different path to go down. Industry would be more varied. So you've been offered a contract to do ACA / Chartered, yes?

What about industry then? You can do ACA / Chartered there too - what you need to decide to what qualification you want to get, ACA or ACCA and then go that way. You can do ACA in both but only ACCA in one, seemingly (from what you are saying).

Touchee

Thanks for the replies, I have eventually decided to go down the industry route, from a salary and working hours point of view it is much better, don't know if it will stand out to me in the future but I will complete the ACCA qualification, so hopefully won't be too bad and I won't have too many regrets looking back.

Prettyblack

Touchee wrote: »

hopefully won't be too bad and I won't have too many regrets looking back.

:rolleyes:

Lynchy747

Touchee wrote: »

Thanks for the replies, I have eventually decided to go down the industry route, from a salary and working hours point of view it is much better, don't know if it will stand out to me in the future but I will complete the ACCA qualification, so hopefully won't be too bad and I won't have too many regrets looking back.

Hi Touchee,

I just came across this thread, and am in a similar position as you were 3 years ago. Just wanted to know how you got on in the end?

Cheers