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Entering a big 4 training contract without accounting background

  • 10-11-2018 3:19pm
    #1
    jaqqq
    Registered Users Posts: 16 ✭


    So I've been offered a training contract in the tax department of one of the big 4 with my only previous accounting background being a summer internship in the tax department of one the other big 4. Before I decide to accept or not I just want to clarify what I will be getting myself into regarding exams. I would have no exemptions so this would mean I would have five years between ACA's and tax exams I think? I would also like to know what would the result of just doing the tax exams alone would be, would you just be shoehorned into working in tax consulting in accounting firms then or could you move into industry in some way?

    Any advice would be appreciated, I wasn't really expecting to get an offer and I just want to weigh everything up before making sure I make the best choice for myself.


Comments

  • #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,443 Mod ✭✭✭✭Jim2007


    The very first question you need to answer is do you have a passion for it? It is a very demanding qualification to obtain and if you do not have the motivation then you will quickly fall by the waste side.

    As to the type of qualification, taxation is a very specialised area and there are few opportunities outside of public practice for someone with a qualification only in taxation, so an accounting qualification would be necessary to ensure you have a wide range of opportunities later.

    But at this stage I'd say the qualification is of secondary concern, the main issue is for you to decide if it is something that you really want to do. Keep in mind that in addition to a full days work, you will have evening lectures and study to do, early Saturday morning lectures, study weekends etc for a five year period.

    If you are more interested in industry then you should probably think about on of the graduate programs offered by the various EU multinationals or something like that.


  • #3
    Jack0125
    Registered Users Posts: 46 ✭Jack0125


    Working in big 4 tax you will get little exposure to practical audit and financial statement preparation. This would help with audit and accounting modules in ACA exams.

    People I know who trained via tax but did pass their ACA exams were generally book smart and able to pass accounting exam by sheer intelligence....study ethic....with little practical experience.

    Basicaally are you book smart enough to pass an exam that you will have little daily practical in.

    Also you should get any understanding of exam timetable. I think if for example you will be doing tax exams when you not doing accounting exams soo.....as previous poster said...working and studying intensively for 3 years...

    Positive of ACA you can work anywhere in world on back of it.. fully recommend it....tough few years but worth it

    Good luck....


  • #4
    CA1994
    Registered Users Posts: 6 ✭CA1994


    Speaking from experience (working in a big 4 Tax department and came from a law background) it is a lot of hard work! I just finished my FAEs and I am starting my Part 2 Tax exams this year!

    I do think working in a big 4 is great experience and it looks great on your CV but the hours aren’t the best! We do get a lot of study leave though for exams - I passed all my exams and I had no accountancy background at all.


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