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Any UK accountants in here?
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Author:  silverevo [ Mon Nov 15, 2010 3:46 pm ]
Post subject:  Any UK accountants in here?
I'm sure there must be.

Just after a bit of advice really.

Bascically I'm a 30 year old with a 2-1 BA Hon in Marketing but has only been running a family restaurant since completing my studies.

I've now decided that I want to pursue a career in Accounting. Would you say that I may be too old to think about this option?
I want to do the ACCA studies and from what I understand, it would take 2-3 years to complete the 14 exams and a further 3 years practical experience to gain full ACCA membership (assuming I don't find an accounting job during my studies). So I would be at least 36 when I finally do become qualified. Will being so old hinder my job prospects in this profession?

Also, how often are the exams? I read somewhere that exams take place either June or December, but it doesnt make sense to me because 14 exams every 6 months equates to 7 years?!

Lastly, what's the main difference between CIMA and ACCA? and which would be better to go for?
I'd like to have the freedom to either go and work for a big company or setting up my own small one to do accounts for small businesses as I have a lot of contacts in the restaurant industry.
Author:  thomasenlow1 [ Mon Nov 15, 2010 5:45 pm ]
Post subject:  Re: Any UK accountants in here?
Not a UK accountant, but I am in the process of obtaining my CPA in the states. I wont be any help on the country specific boards and their requirements, but regarding accounting in general I would say it is never too late to obtain a new skill set.

I originally had a degree in finiance, and that didnt pan out at all, so I went back at 24 and did what I had to do. The job prospects were ten fold compared to finance, which was almost all sales.

I work in public accounting, and am just buying time to set up small firm in the next few years. The best thing about accounting is the number of ways you can make a living crunching numbers. It truly is the language of business.

I prefer taxation, because I hate the fact that the IRS, or any other taxing authority has their foot on the throat of citizens, so I really enjoy helping John Q Public keep as much of his/her hard earned money as possible.

Anyhow, long story short, I cant think of a better outcome from my return to school as a semi adult, and in this day in age security in your position is pretty valuable. Accountinfg isnt without risk, but compared to many industries it is about as close as it gets.
Author:  VillageIdiot [ Mon Nov 15, 2010 8:25 pm ]
Post subject:  Re: Any UK accountants in here?
My little brother is in the process taking his ACA exams (as opposed to ACCA). From what he's told me you'll hit a glass ceiling pretty quickly if you only bother with ACCA, which is regarded as the poor relation to ACA. So unless some big changes occur with the various accountancies bodies you'll struggle to make partner level on with ACCA. He started with an accountancy firm after University and should have ACA under his belt by his 25th birthday.

He's done all his studying whilst holding down a full time job at the firm so I don't think you'll need 3yrs of full time studying and another three for work experience if you're doing ACCA.

IIRC, CIMA won't allow you to audit.
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