Accounting AAT vs ACCA

Hi guys,

I apologise if this question has been asked before but I am just after some advice based on my situation.

I am strongly considering a change of career into accountancy and want to study ACCA. I have a degree in Optometry and also hold the relevant A Levels and GCSEs to start ACCA.

My plan is to do AAT Level 2 first to get an entry level accounting related job, and then start ACCA Applied Knowledge. I want to get a job in the industry as soon as possible because I know that you need 3 years work experience to qualify ACCA.

Is this a sound route to take? Or am I better off going straight into ACCA? I am just worried I might not get a job only being part way through the ACCA qualification. Essentially, I am looking for the quickest route to become a chartered accountant.

Thanks in advance guys

Just as a quick check: What subjects at A level and what grades?

How much time each week do you have to study and how much money can you put towards this?

What sort of accounting job are you looking for? How old are you?

Hi, thank you for replying.

A Levels: Maths A*, Biology B, Chemistry B

I think I could do at least 14hrs per week. Money not an issue. Not yet sure what accounting I want to specialise in! In terms of jobs i was thinking an accounts payable clerk/accounts officer/finance assistant. I am 29

Hi

Will be home shortly and will write some notes. Are the jobs you have noted for entry to the profession or longer term (effectively a lower paid office hours career)?

Which part of the country and are you geographically limited?

Awesome thank you. Yes they'd just be for entry into the profession. I am limited geographically, i live in West Midlands close to Birmingham and want to stay close to home

Ah, cool - I think the geographic thing might matter in that case. At least to the extent that you shouldn't receive generic advice.

Will be home in a couple of hours and will type more. Also - why ACCA in particular (over CIMA/ ACA) and is this a fixed thing?

"My plan is to do AAT Level 2 first to get an entry level accounting related job, and then start ACCA Applied Knowledge. I want to get a job in the industry as soon as possible because I know that you need 3 years work experience to qualify ACCA.

Is this a sound route to take? Or am I better off going straight into ACCA? I am just worried I might not get a job only being part way through the ACCA qualification. Essentially, I am looking for the quickest route to become a chartered accountant."


Ok - so, given your circumstances there are a few routes you should consider even to discount them:

1) Graduate scheme in large accounting firms - usually ACA - well worth looking at and lots in Birmingham. If you don't fancy the stress of the big 4 lifestyle BDO and GT (plus others in the mid size firms) offer kinder working conditions in general (as ever - no guarantees). Have you looked into this option?

As a note - although you can complete ACCA exams and the experience requirements in the same timescales as completing an ACA training scheme people don't generally do so. For qualifying and getting on with life the ACA route can have advantages people don't recognise.

If interested I could write a little more about the pros and cons of ACA vs ACCA.

2) Graduate schemes in industry. Again - well worth looking into. Unlike the professional firms I think more of these schemes might be looking for more recent graduates - but not a reason not to try. The benefits compared to entry level admin type jobs is that the pay tends to be higher, training support way, way better and progress more defined. Of course, these are not easy to get into and can lead to a delay while you wait for processes to start and then seeing if you are successful. Likewise, the number of schemes which are available to you may be limited by geography.

3) Either complete AAT or start on AAT. Not a bad option to be honest, especially if you are working at present in reasonably paid employment. The actual skills taught on the courses are more directed to entry level accounts work than the professional institute courses are.

If you complete AAT level 4 you can get exemptions from professional institute exams - and AAT is a qualification in itself. Things that put me off the AAT route at times:

- people seem to spend a long time doing it. You can't always find fellow students are are keen and equipped to make quick progress. Online studing can help you move more quickly than in person classes (which are very slow). Perhaps check the availability of exam dates in your area if working?

- cost - it does cost more overall than the ACCA route to get some basic knowledge.

As a note, sometimes people think that AAT is a job requirement. This is because they see jobs ads stating AAT. In reality most employers asking for that qualification are wanting people with the work experience to back it up. You are probably not much if any worse off with 3 ACCA papers than AAT level 3 and no experience. That being said AAT does cover computer skills much better. In areas with mainly small businesses which use Sage or similar packages that can be signficant. I suspect that won't be a huge factor in your area but worth checking job postings.

Your proposal to start with AAT level 2 and look for an entry level job is perfectly sound. Level 3 would be stronger.

4) Start studying ACCA.

Some big advantages here:

- you can make a start very cheaply. Perhaps you find you hate working and studying. Why not find this out with change from £100 than having spent more and finding yourself in a career where passing exams while working is the main route to progression?

- quicker - its faster to pass the first 3 ACCA papers than AAT levels 2 and 3 so long as you have the academic background (which you do).

- much bigger online community of people doing the same thing, and good, free online courses.

- very flexible - you can take temping work/ a one year contract/ a job which requires commuting and still progress, or delay studying for a while if necessary. Usually easier to move jobs than with ACA options.

- You can make some good progress through exams while in your current job. That would held you not just get a first job in accounting but to progress quickly when you have some experience. I would seriously consider trying to power through the first 5 ACCA papers.

First of all, a massive thank you for writing out such a helpful and thorough response!

1. I wouldnt mind doing a graduate scheme but I worry that I wouldnt get accepted because a) I graduated 5 years ago b) I only achieved a 2:2 c) My degree wasnt finance/maths related. And ive heard that graduate schemes are competitive. That being said, I've got nothing to lose by applying for one.

2. I've heard that if you go into industry accounting you tend to get stuck there and the transition to practice is difficult which is why I've shyed away from it. Practice also seems to have more variety in terms of the actual work, which interests me.

3. Will take this all on board, thank you.

4. I'm highly drawn to jumping straight into ACCA based on every advantage you have listed. If I can get a basic accounting job after passing the first level of ACCA, then I feel no need to do the AAT Level 2 and 3 in the first place.

I'm going to give it all some thought but I wouldnt be surprised if I take your advice and go straight into ACCA 😊

1. I wouldnt mind doing a graduate scheme but I worry that I wouldnt get accepted because a) I graduated 5 years ago b) I only achieved a 2:2 c) My degree wasnt finance/maths related. And ive heard that graduate schemes are competitive. That being said, I've got nothing to lose by applying for one.

Having a 2.2 reduces your options. Nothing like as much as it did a few years ago though. I haven't looked through different firms requirements for over a year and am less up to date on them than I used to be, but am aware that some have dropped the requirement for a 2.1. If you can't work out which let me know. I'm answering a very similar question (you with different details for degree?) on another forum so might be worth getting an up to date list.

In terms of your degree not being maths/ finance related - no issue at all for practice jobs. Maths is really not a big thing in accountancy against many peoples perceptions. I use numbers all day. So does someone working on a checkout. I certainly never use A level maths. Grade 6 GCSE tends to be at the higher end of requirements. Plenty of history and philosophy graduates get onto schemes.

For industry grad schemes there is sometimes a preference for business or numerate degrees. Numerate degrees tend to include biology for example - rarely top level maths and physics.

Graduate schemes being competitive - yes, they are. A lot of weight is placed on aptitude tests. No reason not to go for them.

As ti age and time since graduation - firms seem to continue to recruit people of your age and people several years post graduation. Its not a huge percentage - but I doubt lots of 30 year olds want to go back to being trainees

I've heard that if you go into industry accounting you tend to get stuck there and the transition to practice is difficult which is why I've shyed away from it. Practice also seems to have more variety in terms of the actual work, which interests me.

I don't think the types of jobs you have noted " accounts payable clerk/accounts officer/finance assistant" are particularly common in practice - and if so would tend to recruit under apprenticeships. Nothing wrong with apprenticeships, but money can be an issue, and outside the South East firms sometimes prefer younger people due to minimum wage for apprenticeships rules. Just something to be aware of.

Certainly its easier to move practice to industry than the other way around. Most of us did so as we didn't like practice.... That being said there are plenty of good reasons why someone may want a career in practice or to spend a number of years there.

For most entry points in practice outside of small firms having passed some exams prior to applying won't strengthen your application. I tend to suggest it for people open to industry jobs and when making career changes as it can make a huge difference.

(Original post by Zak1914)Hi guys,

I apologise if this question has been asked before but I am just after some advice based on my situation.

I am strongly considering a change of career into accountancy and want to study ACCA. I have a degree in Optometry and also hold the relevant A Levels and GCSEs to start ACCA.

My plan is to do AAT Level 2 first to get an entry level accounting related job, and then start ACCA Applied Knowledge. I want to get a job in the industry as soon as possible because I know that you need 3 years work experience to qualify ACCA.

Is this a sound route to take? Or am I better off going straight into ACCA? I am just worried I might not get a job only being part way through the ACCA qualification. Essentially, I am looking for the quickest route to become a chartered accountant.

Thanks in advance guys


I literally am in the same situation with a 2:2 in optom and want to change. Any advice on where you got up to?