Accountant Help - Confused about chartered etc....?
Im in uni doin a bsc in accounting.. I am soo confused because the other day my lecturer said that after graduation i will only be a part-qualified accountant!.. Something about chartered exams and work at the same time? I need someone to very simply and easily expain this procedure. Will the company i get a job with allow me to study for my charted exams or will i have to do them part time? Also how long (in years) does it take to become charted? How much money will i be on part-qualified and also chartered? Thank Youuuu!!! =)
Financial Services - 2 Answers
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Answer 1 :
Every profession on the planet earth has additional credentialling requirements beyond the college degree. For example, you can finish law school, but you're not a lawyer until you pass the bar exam. You can finish medical school, but you're not a doctor until you pass the medical licensing exam. Likewise, for accountants, there are accountants without credentials, and accountants with credentials --"Chartered Accountants". Look up your own country's (or province's) requirements. Fulfill the requirements, and you'll be a happy accountant.
Answer 2 :
To become a fully qualified Chartered Accountant (ACA) you typically work for a large firm of auditors who run a training scheme. It takes about 3 years for you to become fully qualified but the big firms will kick you out if you fail too many exams. Big firms will give you time of to study and take exams and also pay for exam and course fees. I have not checked recently but I guess a starting salary for a graduate trainee in a big firm would be £ 20,000 to 23,000. Competition is stiff to get on the big firms training schemes and you need a good degree from a good university. See: http://www.icaew.com/index.cfm/route/158423/icaew_ga/en/Home/Institute_of_Chartered_Accountants_in_England_and_Wales If you fail to get on an ACA training scheme with a big firm you may be able to get on one on a smaller firm. Failing that you can work for a smaller firm and take the Certified accoutants exams (ACCA). Starting salaries will be less probably £ 15,000 to £ 18,000. See: http://www.accaglobal.com/publicinterest/about/ A better alternative these days is a Chartered Management accountancy training scheme in business. The advantage of this is that by the end of your 3 years you will have those 3 years experience in business so you are better equiped to work in business than an ACA who has spent the 3 years in an audit firm. Also the CIMA sylabus and training is regarded as more relevant for a job in business. You will not get time of to study on a CIMA training course but you will get time of for exams. Your employer may or may not pay your course fees. Starting salaries on a CIMA training course are probably a bit lower than ACA starter in a big professional firm - say around £ 18,000 but it will vary quite a bit. See: http://www.cimaglobal.com/cps/rde/xchg/live/root.xsl/index.htm Remember that competition is intense at the moment for all these training schemes.
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