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What should i know before starting an accounting degree?

Hello, I would like to do an accounting degree at university next year but I have very little/no basic knowledge about it. What should I know and understand before applying and starting the degree? Are there any good books that would help?
Things I would recommend you to know:

There's little maths involved, unless you have a stats module/doing a BSc; then you might need to know AS Level maths

Knowing how to use Excel is good (there is the Microsoft Office Specialist qualification you can look into), especially for the job (learning about accounting software will help tremendously)

It's more about how to allocate and analyse costs than doing complicated maths

Look at what sort of accounting job you want, as it will help you decide which modules to take and what sort of professional accounting qualification to go for; the modules you choose will allow you exemptions for certain modules

You need high A Level grades and at least a 2:1 to get into most grad programs

Try to get an internship and sign up for insight weeks when possible; deadlines are at the end December during your first year - failing this, try to work for an employer somewhere over the summer as a bookkeeper

When applying for graduate roles, you will be competing against people who have never studied accounting before, but when to the best universities in the country with high grades

Typical employers graduates tend to look for are the Big 4 accounting firms, and places tend to be competitive - look at the job descriptions before applying, know what they are, and try to match them up with your module options

Most accounting degrees don't require you to do Maths A Level, but you might want to check with the individual uni and degree program

Learn how to do double entry bookkeeping, as this will help with some of the coursework as well as work - you want to pick up a bookkeeping book that trains you from beginner all the way up to getting the equivalent of getting a professional bookkeeping Level 4 qualification e.g. AAT, IAB; there are a few YouTube videos that would be useful for this

Most accounting degrees will teach you from the ground up, as many people are enrolled even when they don't have the same or relevant A Levels

Understand the marking criteria at university - this is different from A Levels - read How to Write Great Essays by Peter Levin should you need to

Work hard and don't stop working hard - your grades can suffer because of this; try to score a 1st class during your second year, so you won't have to work extremely hard in the 3rd to get the 2:1

In all likelihood, you will be using the following books: The Principles of Macroeconomics by Gregory Mankiw, and Cost Accounting by Colin Drury (the 2 major books that I would consider buying; the others I would just use at the library)

Read the recommended further reading where possible, as it's likely your assignments will be based on the recommended reading

Layout of your answer will be pivotal in how you will be marked

Do not use a Dummies book or Wikipedia as references, even though they might do a better job than most books on the subject - use whatever material you can find in the library, and use journal articles where possible, especially if there is recent research on the topic

Reading in academia means selective reading - only read bits that are relevant to what you need to know

You don't need an accounting degree to get into accounting as a profession

Go through as many practice questions with good accounting books from the university library as possible as revision

Network with accountants and people in accounting as much as possible, before, during, and after uni

If your degree allows you to choose options outside of the accounting department, I'd try a language at beginner's level that you haven't done before. However, if you're strictly focused on getting as many exemptions as you can, then it's up to you, so long you get high grades. If you know you will be weak or won't like certain modules, then try not to do them during your degree, as it can drag down your grades.

Accountancy Age is a free magazine subscription you can look into

Speak to someone in accounting with hiring experience regarding your CV before sending it off to employers - it's key it doesn't give the impression that you don't know what you want and you're just applying for any job at any company

If you have a full professional accounting qualification, you can teach accounting at university level i.e. it equates to a master's in accounting, but a master's in accounting won't equate to a full professional accounting qualification

Let me know if you have any specific questions.
Reply 2
Original post by MindMax2000
Things I would recommend you to know:

There's little maths involved, unless you have a stats module/doing a BSc; then you might need to know AS Level maths

Knowing how to use Excel is good (there is the Microsoft Office Specialist qualification you can look into), especially for the job (learning about accounting software will help tremendously)

It's more about how to allocate and analyse costs than doing complicated maths

Look at what sort of accounting job you want, as it will help you decide which modules to take and what sort of professional accounting qualification to go for; the modules you choose will allow you exemptions for certain modules

You need high A Level grades and at least a 2:1 to get into most grad programs

Try to get an internship and sign up for insight weeks when possible; deadlines are at the end December during your first year - failing this, try to work for an employer somewhere over the summer as a bookkeeper

When applying for graduate roles, you will be competing against people who have never studied accounting before, but when to the best universities in the country with high grades

Typical employers graduates tend to look for are the Big 4 accounting firms, and places tend to be competitive - look at the job descriptions before applying, know what they are, and try to match them up with your module options

Most accounting degrees don't require you to do Maths A Level, but you might want to check with the individual uni and degree program

Learn how to do double entry bookkeeping, as this will help with some of the coursework as well as work - you want to pick up a bookkeeping book that trains you from beginner all the way up to getting the equivalent of getting a professional bookkeeping Level 4 qualification e.g. AAT, IAB; there are a few YouTube videos that would be useful for this

Most accounting degrees will teach you from the ground up, as many people are enrolled even when they don't have the same or relevant A Levels

Understand the marking criteria at university - this is different from A Levels - read How to Write Great Essays by Peter Levin should you need to

Work hard and don't stop working hard - your grades can suffer because of this; try to score a 1st class during your second year, so you won't have to work extremely hard in the 3rd to get the 2:1

In all likelihood, you will be using the following books: The Principles of Macroeconomics by Gregory Mankiw, and Cost Accounting by Colin Drury (the 2 major books that I would consider buying; the others I would just use at the library)

Read the recommended further reading where possible, as it's likely your assignments will be based on the recommended reading

Layout of your answer will be pivotal in how you will be marked

Do not use a Dummies book or Wikipedia as references, even though they might do a better job than most books on the subject - use whatever material you can find in the library, and use journal articles where possible, especially if there is recent research on the topic

Reading in academia means selective reading - only read bits that are relevant to what you need to know

You don't need an accounting degree to get into accounting as a profession

Go through as many practice questions with good accounting books from the university library as possible as revision

Network with accountants and people in accounting as much as possible, before, during, and after uni

If your degree allows you to choose options outside of the accounting department, I'd try a language at beginner's level that you haven't done before. However, if you're strictly focused on getting as many exemptions as you can, then it's up to you, so long you get high grades. If you know you will be weak or won't like certain modules, then try not to do them during your degree, as it can drag down your grades.

Accountancy Age is a free magazine subscription you can look into

Speak to someone in accounting with hiring experience regarding your CV before sending it off to employers - it's key it doesn't give the impression that you don't know what you want and you're just applying for any job at any company

If you have a full professional accounting qualification, you can teach accounting at university level i.e. it equates to a master's in accounting, but a master's in accounting won't equate to a full professional accounting qualification

Let me know if you have any specific questions.

Thank you so much that helped alot. Im writing my personal statement soon and i have no work experience. Also i have low predicted grades so when applying to uni they will probably just deny me straight away,so could i take a gap year and apply with my real grades next year? I would like to focus on getting good grades, take a gap year and do some work experience,write a good personal statement and apply next year if thats possible.
My recommendation has always been if you can get better grades, wait another year, or resit the year. Most employers will also look at your A Level grades, if you had them. Typical minimum grades for some employers would be BBB, but some roles require AAA or A*s.

Having said that, you can also go to uni after doing an AAT course, as they would accept that in place of A Levels with some unis (you need to check yourself). To become a qualified bookkeeper, you typically need a year's experience post qualification. If an apprenticeship helps, it's all good.
Also, each level of the AAT is usually supposed to last one year's of study, but I think you can do them intensively with some companies (in my opinion, AAT Levels 1-4 shouldn't take more than 6 months if you work at it like crazy).
Reply 4
HI there, I will be starting accounting and finance this year. I would like to know how I can prepare for this course. Thanks
Original post by unknown1233
HI there, I will be starting accounting and finance this year. I would like to know how I can prepare for this course. Thanks

Most accounting and finance degrees would start from the premise that they assusme their students know exactly nothing in accounting and finance. This coincides with how the professional accounting qualifications would start.

The content in the first year would often be easy going enough for you to pick the subjects up with a zero background. You can read some of the essential texts ahead of time, but I don't think this is necessary if you study properly i.e. 35-40 hours a week, including lectures and seminars.

Depending on the modules you pick and the preferences you have for the type of content, you might want to spend more time refining your knowledge and skills in your weaker areas. For example, if I had a hard time with qualitative content/very descriptive modules, I would have recommended myself to spend more time on reading up how to present and articulate better arguments or interpret material the way the lecturers wanted (e.g. read up material on A Level Accounting). If you have a problem with maths, I would pick up a book on mathematics of finance and accounting e.g. Schaum's Outline to Mathematics of Finance.

Despite accounting and finance degrees containing a lot of accounting and financial modules, a good number of the degree courses are very flexible with your options. I don't know enough about your situation to advise. If you want to be more specific, I would be able to point you in the right direction.
I am not too sure in terms of how hard the maths will be as I have been studying business at college and will be starting this year uni so I feel a bit worried , will gcse maths be enough or will alevel maths also be needed
Original post by unknown1233
I am not too sure in terms of how hard the maths will be as I have been studying business at college and will be starting this year uni so I feel a bit worried , will gcse maths be enough or will alevel maths also be needed


GCSE maths is more than enough for most of accounting. It's mostly arithmetic i.e. add, subtract, divide, multiplication (the occasional logarithm in time value for money). It's not going to be rocket science.

The only thing that might shake you a bit is the business stats/quantiative methods. You would ideally read up on AS Level Maths, but specifically the stats module (the rest of A Level Maths isn't really relevant). The key topic is hypothesis testing, which forms the basis of everything else e.g. normal distribution, confidence intervals, etc. If you have not come across it before, it can be confusing so I would wathc A Level Maths tutorials on this. However, once you get it it's pretty straightforward.

There's a remote chance that you might have to learn linear programming - essentially for optimising outcomes when you have 101 moving parts. It's the kind of thing I would Solver on Excel for. The only way to confirm if this is the case is if you look through the quantitiative module to check/

If you want a head start on the stats, you can either read:

Quantitative Methods: For Business, Management and Finance by Louise Swift and Sally Piff (most likely your text for the quantitative methods module, but it's an easy read)

Schaum's Outline of Statistics by Murray Spiegel, Larry Stephens (Chapter 10, and possibly Chapter 4 if you're rusty)

Edexcel AS and A level Mathematics Statistics & Mechanics Year 1/AS Textbook by Greg Attwood, and others


If you want the videos on the above topics, consider:
Logarithm:
https://www.khanacademy.org/math/algebra2/x2ec2f6f830c9fb89:logs/x2ec2f6f830c9fb89:log-intro/v/logarithms
https://www.youtube.com/watch?v=Zw5t6BTQYRU
https://www.youtube.com/watch?v=kqVpPSzkTYA

Hypothesis testing:
https://www.khanacademy.org/math/statistics-probability/significance-tests-one-sample/more-significance-testing-videos/v/hypothesis-testing-and-p-values
https://www.youtube.com/watch?v=zJ8e_wAWUzE
https://www.youtube.com/watch?v=4FlUlpSKY_s
https://www.youtube.com/watch?v=u9qI49EG2UY

Linear programming:
https://sites.google.com/view/tlmaths/home/legacy-a-level-maths-2004/aqa-d1/9-linear-programming
https://www.youtube.com/watch?v=RsOQzhuCyyo
https://www.youtube.com/watch?v=Bzzqx1F23a8
https://www.youtube.com/watch?v=9XqIngLPMNo (this video is part of a series)

Unless your specific degree has some difficult finance modules, and hence very quantitative, then you would need to know A Level maths. If that was the case in the first place, they would have made it a requirement to have A Level maths prior to applying.
As they did not ask for it and you asked about the topics, the above should be more than enough.

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