Np15
Badges: 5
Rep:
?
#1
Report Thread starter 2 weeks ago
#1
Did anyone do chartered accounting Acca? Is it worth it? What is it like to work as a chartered accountant? Is it stressful, boring/interesting?
0
reply
Shy oreo
Badges: 14
Rep:
?
#2
Report 2 weeks ago
#2
I also want to be an accountant as well!! Do you have any experience in any form/type of accountancy?
0
reply
K1NE
Badges: 10
Rep:
?
#3
Report 2 weeks ago
#3
(Original post by Np15)
Did anyone do chartered accounting Acca? Is it worth it? What is it like to work as a chartered accountant? Is it stressful, boring/interesting?
Hi,

It depends on the industry and area you work in. I think every Chartered Accountants experience can be different because of those factors.

Generally working in industry i.e SME, large corporate company when you're in an inhouse finance teams has much better work life balance than Chartered Accountants working in practice at like Big 4 etc... Working in financial services or insurance has a different type of culture compared to working for a retail/media company, so all these things play a part.

It can be stressful of course when you have deadlines to meet just like any other job.

It depends on what you find interesting because Chartered Accountants can find themselves doing various different roles for instance,

- Internal audit you can be look at operational controls and risks around these.
- Commercial finance you can be working on budgets, business cases and initiatives
- Financial reporting you could be working on statutory reporting for Y/E for shareholders

The list goes on and on.

Hope this shows that there are lots of different roles and different things Chartered Accountants can be doing in a business.
0
reply
Np15
Badges: 5
Rep:
?
#4
Report Thread starter 2 weeks ago
#4
(Original post by K1NE)
Hi,

It depends on the industry and area you work in. I think every Chartered Accountants experience can be different because of those factors.

Generally working in industry i.e SME, large corporate company when you're in an inhouse finance teams has much better work life balance than Chartered Accountants working in practice at like Big 4 etc... Working in financial services or insurance has a different type of culture compared to working for a retail/media company, so all these things play a part.

It can be stressful of course when you have deadlines to meet just like any other job.

It depends on what you find interesting because Chartered Accountants can find themselves doing various different roles for instance,

- Internal audit you can be look at operational controls and risks around these.
- Commercial finance you can be working on budgets, business cases and initiatives
- Financial reporting you could be working on statutory reporting for Y/E for shareholders

The list goes on and on.

Hope this shows that there are lots of different roles and different things Chartered Accountants can be doing in a business.
Thank you that was helpful
0
reply
Np15
Badges: 5
Rep:
?
#5
Report Thread starter 2 weeks ago
#5
(Original post by Shy oreo)
I also want to be an accountant as well!! Do you have any experience in any form/type of accountancy?
That's great! I am currently studying accounting and finance but i don't know for sure whether I will to chartered. What about you?
0
reply
AW_1983
Badges: 14
Rep:
?
#6
Report 2 weeks ago
#6
When you start your career in accountancy you will - quite reasonably - not have much idea where you want to take your career but the honest answer is that there are so many directions that you can take your career that it's very hard to say whether you would like it or not. I initially did Audit with Big 4 and I didn't last the distance - it was tedious work, I seldom worked with anyone with more than 1 year PQE and the ICAEW syllabus was heavily weighted towards financial accounting. I eventually shifted towards a similar profession to accountancy - chartered secretaryship - and I've been able to build a career in investment banking regulation on the back of this qualification that I find much more interesting.

There are obviously a lot more roles than these, but this list is the categories of the main accountancy roles and associated professions that I can think of and I think most people who aspire to a professional career would identify at least one area that they would find interesting and rewarding:

1) Financial Reporting (e.g. preparing annual reports, preparing other financial reports for external users, engaging with auditors);

2) External Audit (primarily assessing financial statements and determining whether they are "true and fair.")

3) Internal Audit (tend to report up to a company's Audit Committee and unlike external audit they are more likely to look at a company's processes and assess risk as well as considering fraud. In the banking sector it can open a lot of doors into compliance, first line of defence controls etc)

4) Treasury (in a nutshell, ensuring a company has a healthy cashflow. There is a lot more to it than that and very relevant to banking regulation if you want to go in that direction)

5) Management Accounting (known for costing and budgeting but this role is becoming much more interesting in the era of big data. Tend to produce bespoke reports and insights from that data. I find a lot of CIMA qualified colleagues working on projects with a big data analytics focus)

6) Tax (basically focused on minimising the company's tax obligations, or advising other entities or people to do the same).

In very general terms (so maybe take this with a pinch of salt!) I would say those with a quantitative bent would find Treasury or Management Accounting the most interesting, especially if they also have an interest in computer programming. Obviously those who have an investigative mentality would be suitable for Audit, although personally I think they would find internal audit more rewarding than external. Tax is the best option for those with a legal background.
1
reply
Np15
Badges: 5
Rep:
?
#7
Report Thread starter 2 weeks ago
#7
(Original post by AW_1983)
When you start your career in accountancy you will - quite reasonably - not have much idea where you want to take your career but the honest answer is that there are so many directions that you can take your career that it's very hard to say whether you would like it or not. I initially did Audit with Big 4 and I didn't last the distance - it was tedious work, I seldom worked with anyone with more than 1 year PQE and the ICAEW syllabus was heavily weighted towards financial accounting. I eventually shifted towards a similar profession to accountancy - chartered secretaryship - and I've been able to build a career in investment banking regulation on the back of this qualification that I find much more interesting.

There are obviously a lot more roles than these, but this list is the categories of the main accountancy roles and associated professions that I can think of and I think most people who aspire to a professional career would identify at least one area that they would find interesting and rewarding:

1) Financial Reporting (e.g. preparing annual reports, preparing other financial reports for external users, engaging with auditors);

2) External Audit (primarily assessing financial statements and determining whether they are "true and fair.")

3) Internal Audit (tend to report up to a company's Audit Committee and unlike external audit they are more likely to look at a company's processes and assess risk as well as considering fraud. In the banking sector it can open a lot of doors into compliance, first line of defence controls etc)

4) Treasury (in a nutshell, ensuring a company has a healthy cashflow. There is a lot more to it than that and very relevant to banking regulation if you want to go in that direction)

5) Management Accounting (known for costing and budgeting but this role is becoming much more interesting in the era of big data. Tend to produce bespoke reports and insights from that data. I find a lot of CIMA qualified colleagues working on projects with a big data analytics focus)

6) Tax (basically focused on minimising the company's tax obligations, or advising other entities or people to do the same).

In very general terms (so maybe take this with a pinch of salt!) I would say those with a quantitative bent would find Treasury or Management Accounting the most interesting, especially if they also have an interest in computer programming. Obviously those who have an investigative mentality would be suitable for Audit, although personally I think they would find internal audit more rewarding than external. Tax is the best option for those with a legal background.
Thank you very much. I like quantitative work more, and so far management accounting is my favorite at uni
0
reply
AW_1983
Badges: 14
Rep:
?
#8
Report 2 weeks ago
#8
(Original post by Np15)
Thank you very much. I like quantitative work more, and so far management accounting is my favorite at uni
That doesn't surprise me! My own view is that technology will really make the management accountants more prominent. Historically the ICAEW and Big 4 was seen as the more prestigious, but certainly in my own firm (large investment bank) there is increasingly a preference for those who joined our own finance stream on our graduate program (we offer CIMA). That said, CIMA is really no good for those who want a career in Tax or Audit so we'll still target Big 4 for recruits in these areas.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Would you consider Adjustment if your grades were higher than you expected?

Yes, I'd look at higher ranking universities than my current choices (150)
42.37%
Yes, I'd look for a course or uni that is a better fit for me (53)
14.97%
No, I'd stick with my current uni choice (143)
40.4%
Something else (let us know in the thread below!) (8)
2.26%

Watched Threads

View All
Latest
My Feed