ACA at a small (still top 100) firm

Hi there,

I was just wondering if anyone has experience of working at a smaller accountancy practice? I've applied to the "Big 4" but after getting to partner level interviews, I realised it doesn't really give me the responsibility that I am after. So i'm testing luck with the smaller firms. I'm from Scotland, but personally I don't really like the ICAS qualification as I think the examinations (well the final 3 exams) of the ICAEW are actually better for what I want to do.

But the question I actually have is, on a day to day basis what do trainees do at smaller firms? I know in the Big four you actually specialise in your field, but in the smaller firms, you don't really. So could someone provide some insight? Especially regarding the first year.

The company in question is Hurst, and having researched the company, it's perfectly aligned with what I want from an employer, so I don't want to mess this part up.

Any help would be extremely appreciated.

Thanks,
Farhan

My question is, how do you already know what you want to do in enough detail to discount a qualification based on it before you've even started training? You could change your mind two weeks in, then you've wasted pretty much guaranteed Big 4 offers for no reason. Just curious!

Um, basically I think the ICAEW path will better prepare me for what I want to do... The professional examinations actually look better than ICAS, and both offer the case study, so that's where my opinion comes from.

And I don't really have big 4 aspirations. I think they're good, but I think you learn more at smaller firms. Plus, I don't really want to be a number, I genuinely want responsibility.

That's not an answer! They both cover pretty much exactly the same material, just reshuffled into different modules...

As for firm size, fair enough if that's your preference. I would debate whether you learn more, I would say learn different things, not necessarily more.

The differences in material coverage for ICAS and ICAEW are minor enough that you can't really evaluate them until you've been through one or the other. Overall ICAEW probably has the easier exam process though, given the way the exams are arranged.

I'm not sure you'll get true 'responsibility' in either. No one is going to trust an unqualified trainee to take any real responsibility for a client's affairs. You'll probably get more continuous workflow though, and a more mixed bag. A lot of time in a Big4 as a trainee is spent thumb twiddling.

xx

I work at a small firm but still in the top 100. We have four offices in the area, but are part of a larger group. Before joining the group the firm was in the top 100, and the group is in the top 50. So now as a firm we are not in the chart, however as a group we are in the top 50. Can't give too much information but hopefully that's enough for you to get the general idea.

I don't know what you do at the big 4 so I don't know how my position varies but I can tell you what I do.

I am currently an accounts junior. Generally on a daily basis I am given records from a client and whip up the financial statement with supporting schedules. These are checked by the manager, then by a director. Any points raised during the review come back to me to amend. That's pretty much it to be honest. I'll also do tax returns when it's that time.

I prepare accounts for sole traders, partnerships and limited companies. To give you an idea of the variety, one company I prepared the accounts for this week had turnover of £8k, the other had a turnover of £800k.

I also help the auditors when they go out to companies. I do the basic tests and they do the more complex ones.

I am currently studying AAT however once I move to ACA I will join the audit team and lead and participate in audits of Limited companies and Plc's. We don't do the huge companies, but more the medium ones, things like £20m turnover is common.

After ACA you are required to move from being an Auditor as there will be new ACA students who will move into your position. You can move into the tax department, being an audit manager, a portfolio holder etc. Pretty much once you qualify they will move you into a position where you are managing clients pretty fast.

Let me know if you have any questions.

-Edit

Just seen you hate audits. My firm do not allow you to do ACA if you don't want to do audits (mainly because you need to to them for ACA). You can however do ACCA which means you will simply prepare accounts all the time and eventually move into managing clients or some other department. We also have a bookkeeping department so if you want to do CIMA you can move into that dept and become a management accountant.

I don't hate audit - it's just I couldn't do audit for basically 3 years non-stop. Its pretty mundane. I'm still going for ACA (or ICAS depending on what I get offered) as opposed to ACCA. ACCA doesn't look to structured. I did think about CIMA, and i'm applying for CIMA jobs aswell, so it's still an option.