kavita2002
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how can someone become a chartered accountant? I definitely want to go to uni and i was thinking of doing "accounting and finance". After this 3 year long course, how does some become a chartered accountant??
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Wired_1800
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(Original post by kavita2002)
how can someone become a chartered accountant? I definitely want to go to uni and i was thinking of doing "accounting and finance". After this 3 year long course, how does some become a chartered accountant??
There are generally two ways of achieving this objective imo.

1. School Leavers: You can apply to accounting firms like PwC, Deloitte and EY to join the School Leaver’s Programme. This is after your A levels. The programme should allow you to train as a trainee whilst doing your examinations.

Here are some links:

PwC: https://www.pwc.co.uk/careers/studen...l-careers.html

You can also try their Flying Start Degree programme here: https://www.pwc.co.uk/careers/studen...t-degrees.html

EY: https://www.ey.com/en_uk/careers/stu...rammes/schools

2. Graduate Programme: The second approach is to complete a degree and apply to join as an Audit/Accounting Graduate trainee. You would be expected to complete your examinations to obtain your qualifications whilst working in the company.

Here are some links:

EY Audit Graduate Scheme: https://www.ey.com/en_uk/careers/stu...gramme-options

PwC Graduate Scheme: https://www.pwc.co.uk/careers/studen...nal-audit.html

PS: In addition to the Big 4, other firms such as Grant Thornton, BDO, Mazars etc are available.

My personal advice is for you to go through the Graduate route. You should complete the Accounting and Finance degree then apply to join as an Audit Graduate Trainee.

I also suggest that you apply for a summer internship or business placement in one of the accounting firms. That way, you can have a taste of what the role would be like and, if you perform well, you are probably given a graduate offer to join after you complete your degree.

Once you complete your exams and relevant requirements, you become chartered with the relevant body.

Good luck.
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MindMax2000
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This is where people can get a bit picky about the terminology.

To become a qualified accountant where you can work in accounting practices, you need to join ACA or ACCA in England and Wales (Ireland and Scotland have their particular professional bodies, but they should be valid in the whole of the UK).

The modules you choose in your degree should allow you to have exemptions from the professional qualification you need in order to go into practice (and then pay the professional body exemption fees for them). (To know which modules count towards your exemptions, you need to look up the individual professional bodies' exemption calculator.) You will then need to complete the remaining exams to reach part qualification status (i.e. you've covered the theory), and then you need post qualification experience to reach qualified status. If you want to work in practice, you need experience in an accounting practice and not in industry (i.e. management accounting) - the experience you get in industry won't count towards the experience you need in practice.

With ACCA, your qualified status is public accountant as opposed to chartered accountant, whereas with ACA it's chartered accountant, depsite the qualifications being similar. ACA holds higher status than ACCA for some reason (to which I still struggle to understand why).

If you want to work or practice abroad, it can get complicated with ACA, since it's not fully recognised in other countries. However, with ACCA you can work almost in any country (I think they said it's 200 countries). The snag is that with ACCA, I've heard it's less prestigious and reputable than the country's own accounting body (like ACA is for England and Wales), despite it being legal for you to practice accounting abroad provided you have done the other leg work. Be careful of the local laws, cultures, and business practices though. Accounting standards should be consistent, but taxes can be very different.

ACCA and ACA will allow you to work as a management accountant as well as financial accountant.
CIMA will only allow you to work as a management accountant, but it's more quantitative. CIPFA is a specialist qualification for being an accountant in the public sector.
There is a myriad of other accounting bodies, but the mentioned 4 are the main ones (https://en.wikipedia.org/wiki/Britis...ed_accountants)

Should you want to go into a particular accounting role e.g. auditing, you will need to specialise in auditing for your accounting qualification, and then do a further qualification in audit as well as getting specific experience in auditing.
With tax, you only need to get an accounting qualification to advise on it, but you can get specialist qualifications for it e.g. ATT for pre accounting qualification, and CTA for something after your accounting qualification. There's also the ADIT for international tax, but it's not above an accounting qualification.

Bear in mind, although you can go to uni to get an accounting degree to go into accounting, you don't need to. The best way to get into accounting without the degree would be by getting an AAT level 4 (especially if you want to get into ACA). With CIMA, you don't even need a qualification to be eligible to study for it.

The qualification you should get though will ultimately depend on your employer. If the employer trains you in ICAS, don't jump for an ACCA for example. If you want to go into corporate finance, and the employer only trains you in CFA (more of an investment qualification), then don't do an ACA.

The best employers to get experience from is the Big 4, partly because the industry works off reputation, but also it's where they have the resources to train you thoroughly. It's advisable to secure the trainee role before you study the qualification. The main approved course providers for the accounting bodies tend to be Kaplan and BPP. There are other such as First Tuition, ExP, iCount, and certain universities and colleges. As you will notice, a number of the course providers don't charge very cheaply for their tuition or revision courses, even though they are still cheaper than degrees.
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kavita2002
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(Original post by MindMax2000)
This is where people can get a bit picky about the terminology.

To become a qualified accountant where you can work in accounting practices, you need to join ACA or ACCA in England and Wales (Ireland and Scotland have their particular professional bodies, but they should be valid in the whole of the UK).

The modules you choose in your degree should allow you to have exemptions from the professional qualification you need in order to go into practice (and then pay the professional body exemption fees for them). (To know which modules count towards your exemptions, you need to look up the individual professional bodies' exemption calculator.) You will then need to complete the remaining exams to reach part qualification status (i.e. you've covered the theory), and then you need post qualification experience to reach qualified status. If you want to work in practice, you need experience in an accounting practice and not in industry (i.e. management accounting) - the experience you get in industry won't count towards the experience you need in practice.

With ACCA, your qualified status is public accountant as opposed to chartered accountant, whereas with ACA it's chartered accountant, depsite the qualifications being similar. ACA holds higher status than ACCA for some reason (to which I still struggle to understand why).

If you want to work or practice abroad, it can get complicated with ACA, since it's not fully recognised in other countries. However, with ACCA you can work almost in any country (I think they said it's 200 countries). The snag is that with ACCA, I've heard it's less prestigious and reputable than the country's own accounting body (like ACA is for England and Wales), despite it being legal for you to practice accounting abroad provided you have done the other leg work. Be careful of the local laws, cultures, and business practices though. Accounting standards should be consistent, but taxes can be very different.

ACCA and ACA will allow you to work as a management accountant as well as financial accountant.
CIMA will only allow you to work as a management accountant, but it's more quantitative. CIPFA is a specialist qualification for being an accountant in the public sector.
There is a myriad of other accounting bodies, but the mentioned 4 are the main ones (https://en.wikipedia.org/wiki/Britis...ed_accountants)

Should you want to go into a particular accounting role e.g. auditing, you will need to specialise in auditing for your accounting qualification, and then do a further qualification in audit as well as getting specific experience in auditing.
With tax, you only need to get an accounting qualification to advise on it, but you can get specialist qualifications for it e.g. ATT for pre accounting qualification, and CTA for something after your accounting qualification. There's also the ADIT for international tax, but it's not above an accounting qualification.

Bear in mind, although you can go to uni to get an accounting degree to go into accounting, you don't need to. The best way to get into accounting without the degree would be by getting an AAT level 4 (especially if you want to get into ACA). With CIMA, you don't even need a qualification to be eligible to study for it.

The qualification you should get though will ultimately depend on your employer. If the employer trains you in ICAS, don't jump for an ACCA for example. If you want to go into corporate finance, and the employer only trains you in CFA (more of an investment qualification), then don't do an ACA.

The best employers to get experience from is the Big 4, partly because the industry works off reputation, but also it's where they have the resources to train you thoroughly. It's advisable to secure the trainee role before you study the qualification. The main approved course providers for the accounting bodies tend to be Kaplan and BPP. There are other such as First Tuition, ExP, iCount, and certain universities and colleges. As you will notice, a number of the course providers don't charge very cheaply for their tuition or revision courses, even though they are still cheaper than degrees.
thank you so much for this !!!
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