Becoming an Accountant 29 - Help Please

Board.surf

Hey all,

I have a financial management background (3-6 years depending on what you count) and a 2.1 in a level 8 degree in Legal studies with business. I have experience with managing multi million $ funds, disparate payroll systems, and specializing in banking reports. I am currently looking at ACA or CPA qualifications. I'm a little confused about where to begin and although I understand the situation, it's difficult to be 100% sure.

So.....
1. CPA seems to be awkward to secure a training contract with. They require the 3 years experience (possibly 2 for me) but otherwise what's the deal with this? Do people usually work while doing the exams or get the experience afterward? They have told me that they have some courses that includes work experience but they think it's "below my experience level". They also said some trainee jobs might be a little tedious for me.

2. APA - I'm confident that I'd secure a trainee contract, but can anyone share their experience for someone like me? i.e I am not an accountant. I am good with figures, bookkeeping, experience with A/C Receivables, payable etc, but I don't know the exact terminology they would use. I don't have an accounting degree. Can I just walk into this job and learn or am I already expected to know and will just be dropped at a desk? Sure, I have skills in the area, but isn't there a lot I wouldn't know compared to say, an accounting graduate.

3. Is it best to just go on jobs sites and apply for these positions?

4. If I have the option to stay unemployed or work part time while doing the exams(wife working), should I exercise this option, expedite the exams and then gain the experience?

5. Basically, a graduate would go into a training contract with all the acct lingo and no experience. I am the opposite (although I might be underestimating myself). Will this matter? I'm paranoid about being the old guy, and being plonkeda a desk and asked to do things I can do, but in a way I don't understand, that a 21 year old grad might.

Thank you for your assistance.

L.Jenkins

I began my career with the CPA through the following Course. They provide work experience towards the end, but I sourced full time paying work. I'm 32 and I intend on continuing with F2, P1 and P2.

I hope the above is helpful. You maybe lucky in being taken on by a Company who'll pay you to take exams from the start.

Board.surf

L.Jenkins wrote: »

I began my career with the CPA through the following Course. They provide work experience towards the end, but I sourced full time paying work. I'm 32 and I intend on continuing with F2, P1 and P2.

I hope the above is helpful. You maybe lucky in being taken on by a Company who'll pay you to take exams from the start.

Thanks Jenkins. I am curious as to whether you had experience prior to this course? CPA have told me that I might be exempt from F1 and most of F2 (I'll know once they check out my transcripts) and may only need 2 years of experience as I worked for an accountant for 3 years previously. When I asked about the course you listed, they told me to go straight for the paying work and jump straight into my exams. So I might be at the point you were at after the course.
Did you get the paying work since the jobs market turned around or before? If so, did you find it difficult to get something? This might be the way I go and I'm very curious of the time limits for starting the exams and if it would be viable to work full time and take 1 every 6 months. I'm looking at cpa mostly at this point as I get more exemptions and it's much cheaper than ACA, so I'm not as worried about funding per exam.

jonnybravo

Think ACA or ACCA would be better recognized in Ireland than CPA. Both allow you to do exams prior to beginning your required experience (so could do them part time while keeping your current job). Should contact both and see what exemptions you might have from exams. Also I know ACA help people getting placed in trainee positions so they might be worth talking to. Accounting firms in general take people from a lot of different backgrounds so I don't think you'll have a problem getting a trainee job. Most accounting firms would give time off and pay for exams as well but the starting salary is low.

Board.surf

jonnybravo wrote: »

Think ACA or ACCA would be better recognized in Ireland than CPA. Both allow you to do exams prior to beginning your required experience (so could do them part time while keeping your current job). Should contact both and see what exemptions you might have from exams. Also I know ACA help people getting placed in trainee positions so they might be worth talking to. Accounting firms in general take people from a lot of different backgrounds so I don't think you'll have a problem getting a trainee job. Most accounting firms would give time off and pay for exams as well but the starting salary is low.

Sorry Mr.Bravo but your advise is all incorrect. CPA are Irish specific. ACCA are more international which I've no interest in. CPA also don't require a contract from the beginning but ACA do. I've contacted them all. ACA also don't help get a contract. They just advertise on their site. If I had no experience, if anything, CPA would be more helpful and have a course for complete laymen that also gives them experience. But for me, it's be awkward as they don't even advertise for those positions on their site.

CPA give me more exemptions and minus 1 year of experience required.
I am in no way truing to be mean, but if I hadn't looked into this first, you would have confused me greatly. I am only asking what I asked at the top and have everything else squared away. I'm experienced but my lingo wouldn't be the best for accounting. Would they expect (at the start of a training contract) me to have no experience in an office, but be brushed up on my accounting lingo i.e the opposite of my situation?

Lepidoptera

ACA doesn't require you to have a training contract. They have a flexible option which allows you to continue at your current job (which doesn't have to be practice but can be industry)

https://www.charteredaccountants.ie/Prospective-Students/Entry-Routes

Another option is to start out with Accounting Technicians. That course would give you a foundation in basic accounting skills (and exemptions from some of the exams in the various accountancy bodies). That would give you a chance to see if you like the study material as well without as big of a commitment. If you do well in your first year exams, you would also have the option to progress to ACA.

Board.surf

Lepidoptera wrote: »

ACA doesn't require you to have a training contract. They have a flexible option which allows you to continue at your current job (which doesn't have to be practice but can be industry)

https://www.charteredaccountants.ie/Prospective-Students/Entry-Routes

Another option is to start out with Accounting Technicians. That course would give you a foundation in basic accounting skills (and exemptions from some of the exams in the various accountancy bodies). That would give you a chance to see if you like the study material as well without as big of a commitment. If you do well in your first year exams, you would also have the option to progress to ACA.

I've been told that the accounting tech route would be a waste of my time as I've worked in financial accounting for 3+ years. I am also exempt from many of the modules because of my undergrad degree in legal w/business (level 8). So iati would be overkill/duplication to get the same exemptions and would gain lower experience than my existing experience. The study material is all available online and I'd be fine taking that route too. I'm happy enough with the study even for the P level exams. If I can't get a training contract (which seems to be going well with apps so far) I would have to do the flex route I guess.

FYI, I was made redundant, so my current job is no longer relevant.

Pawwed Rig

We take on accountants every year. As a first year trainee full training will be given. It is a tough environment though so you would be expected to pick it up quickly.
You would be fine.
Wages are low in first year but can increase fairly quickly if you are good at the job.

Board.surf

Pawwed Rig wrote: »

We take on accountants every year. As a first year trainee full training will be given. It is a tough environment though so you would be expected to pick it up quickly.
You would be fine.
Wages are low in first year but can increase fairly quickly if you are good at the job.

Can I PM you Pawwed. I guess what you have touched on here is exactly what I'm wondering. I am expecting it to be difficult. I just want to make decisions regarding which accounting body, and be prepared appropriately as to what employers expect. I don't want to stand on toes, having worked in management (mindset changes a bit), but I also don't want to be backward in some aspects. The strengths I bring might need to be trimmed back, but then all I have is exposed weaknesses in other areas, standing beside a fresh acct grad.

Pawwed Rig

Board.surf wrote: »

Can I PM you Pawwed. I guess what you have touched on here is exactly what I'm wondering. I am expecting it to be difficult. I just want to make decisions regarding which accounting body, and be prepared appropriately as to what employers expect. I don't want to stand on toes, having worked in management (mindset changes a bit), but I also don't want to be backward in some aspects. The strengths I bring might need to be trimmed back, but then all I have is exposed weaknesses in other areas, standing beside a fresh acct grad.

Sure

mr_edge_to_you

Board.surf wrote: »

Sorry Mr.Bravo but your advise is all incorrect.

All the poster's advice is incorrect????? Clearly you don't need any advice so.

I have been working as an accountant for 14 years. In my circles CPA was always regarded well below ACA, ACCA and CIMA. A quick look on IrishJobs shows that this still the case. It's very rare that you'd see a CPA qualification as requirement in a job spec. Not going in to the merits of the qualification, it's an observation of someone who is regularly scouting for new opportunities.

Exemptions are handy but there's a lot to be said for actually sitting the relevant body's exams. I'm saying that as someone who got a pile exemptions from college - only had 5 exams to do. Professional exams will probably stand you better than exemptions. Either way, there's no easy way to an accountancy qualification.

I'm CIMA qualified but I'd be huge advocate of ACCA. I think it's an incredibly well respected qualification with huge opportunities both in industry and practice. You say you have no desire for an internationally recognised used qualification. Well, what about your future employers? Have you considered what skills/qualifications matter to them?

Board.surf

mr_edge_to_you wrote: »

All the poster's advice is incorrect????? Clearly you don't need any advice so.

I am also looking at acca. The point is, and as I outlined, the advice given was incorrect or at best, totally irrelevant. Your condescension isn't appreciated and can be left at the door. I am entitled to state advice is incorrect. I asked for advice, not incorrect or biased information. Read above why it is incorrect. All in all, when I ask accountants any question, they seem to go into cpa bashing mode and are no help with anything else. Once cpa is mentioned, they are hardwired to avoid all my other questions. It's baffling when it happens over and over. I also never asked for an "easy way". I asked what is best and the mentality involved within a trainee contracts.

Apart from your opening remark, I value your input. Regarding Acca, I have 1 exemption and am exempt from at least 2, possibly all 3 years of the required work experience. I have some pending trainee contracts, and if they suggest ACCA, I will most likely follow their lead. Have I considered what employers want? Of course. But this wasn't asked. I've worked with accountants for years but not as a trainee. I am aware of the jobs market.

So, if someone could actually answer my questions I'd really appreciate it. No CPA bashing.
Trainee contracts for ACCA or any study route: will I just be dropped at a desk or is it structured? Will I be able to fit in as an unconventional applicant. Will the structure suit someone in my situation?
Should I work at all or just concentrate on exams and get some done initially?

The_Pretender

Once you can =sum( in excel you'll be fine. Most of what you'll be doing is data entry and drafting emails for the first while anyway. You mightn't be the norm for a big 4, but most people training in the firm I'm in are in their mid-late twenties and didn't come straight out of college.

Board.surf

The_Pretender wrote: »

Once you can =sum( in excel you'll be fine. Most of what you'll be doing is data entry and drafting emails for the first while anyway. You mightn't be the norm for a big 4, but most people training in the firm I'm in are in their mid-late twenties and didn't come straight out of college.

This is a massive relief. Thank you! I'm 29 and have light data analytics experience using excel. Expert level cert in excel but can't vba very well. Your words are a relief. I'd probably be bored but can put on a brave face. I would be delighted to train in a firm like yours. Particularly while taking on the exams. Currently looking at a particular one in Kilkenny (easier commute) and a few in Dublin.

What realistically is the starting salary for accountants? Is it as well paid as it has the name for? I always think it sounds like a nice career and with decent hours versus something like medicine.

Board.surf

[Deleted User] wrote: »

What realistically is the starting salary for accountants? Is it as well paid as it has the name for? I always think it sounds like a nice career and with decent hours versus something like medicine.

Off topic so you might want to start your own thread. Trainee accountant = 20 to 25k. Fully trained, 35k at the very least. Sky is the limit, all based on your work rate from what Im told. As this isn't a subjective question, i'd suggest some research as that would give you a ballpark figure. If your referring to your specific scenario, starting a thread would suit