Should I do Accounting and finance?

Hello there,

I'm currently in need of help in making my life choices better!!!
I'm currently doing a machinist engineering apprenticeship, and I'm currently thinking of leaving the apprenticeship to do a career change. I don't really enjoy doing my apprenticeship to be honest and due to lack of teaching the offer at college and my company will not do anything about it and they are deciding loads of changes which is interfering with my travel and they might be changing the course again in the later future which I do not want to sort out with.
Backstory~
After sixth form I went university to study for an engineering degree but during the first year I found it really difficult to catch up with the lectures and would not understand the topic and I felt defeated which lead me to dropping out university. But I made the dumb choice of not having a backup so I had to job hunt for a few months for engineering apprenticeship thinking that would be the choice. I went to applied of loads of vacancy jobs for an apprenticeship and few of them accepted me. During the interview, I have already done my research and knew what to say during the interview but majority of the time I got rejected because I lacked experience or compared to the other candidates they had a better CV than mine. Then the apprenticeship I currently at accepted me because the sixth form I went were in good terms with the company and I had a good reputation and decent grades during sixth form which they gave me the offer.

And I was planning initially to complete the apprenticeship and give a another try for university to achieve an degree. But I try studying the maths side on the side-lines but I'm still struggling and I know my capacity and I know I'm not cut of for it. So I was planning on doing a career change in accounting and finance?

Reply 1

ajj2000

What grades did you get at maths GCSE and A level?

Any reason not to look for an accountancy apprenticeship?

Reply 2

MindMax2000

Universities Forum Helper

Original post by sogeking19

Hello there,
I'm currently in need of help in making my life choices better!!!
I'm currently doing a machinist engineering apprenticeship, and I'm currently thinking of leaving the apprenticeship to do a career change. I don't really enjoy doing my apprenticeship to be honest and due to lack of teaching the offer at college and my company will not do anything about it and they are deciding loads of changes which is interfering with my travel and they might be changing the course again in the later future which I do not want to sort out with.
Backstory~
After sixth form I went university to study for an engineering degree but during the first year I found it really difficult to catch up with the lectures and would not understand the topic and I felt defeated which lead me to dropping out university. But I made the dumb choice of not having a backup so I had to job hunt for a few months for engineering apprenticeship thinking that would be the choice. I went to applied of loads of vacancy jobs for an apprenticeship and few of them accepted me. During the interview, I have already done my research and knew what to say during the interview but majority of the time I got rejected because I lacked experience or compared to the other candidates they had a better CV than mine. Then the apprenticeship I currently at accepted me because the sixth form I went were in good terms with the company and I had a good reputation and decent grades during sixth form which they gave me the offer.
And I was planning initially to complete the apprenticeship and give a another try for university to achieve an degree. But I try studying the maths side on the side-lines but I'm still struggling and I know my capacity and I know I'm not cut of for it. So I was planning on doing a career change in accounting and finance?

If you intend to go into accounting or the finance sector, I wouldn't recommend the degree (for one, you don't need a degree to get in the sector, and two they accept people with any degree).

If you have covered engineering (at least the theoretical aspects of it), you would likely find the maths in accounting too simple. The hard maths in finance is in quants and actuarial science, otherwise it's relatively straightforward.

Accounting is generally fast but accurate data entry. A lot of the higher level stuff is in making judgements that you can be reported for (if incorrect).

Most roles in finance tend to be in selling and networking i.e. a people business, so it's not exactly rocket science. Most of the difficult maths is done through spreadsheets and programming, so you're more or less stuck with the customer facing roles. Otherwise, it's back office accounting/admin.

Personally, I would find the engineering roles a lot more appealing.

Reply 3

sogeking19

Original post by ajj2000

What grades did you get at maths GCSE and A level?
Any reason not to look for an accountancy apprenticeship?

During GCSE I achieved all Grade 4
During A-Level/Equalivent: Core Maths (not A level Maths) grade C, EPQ-A* , Level 3 Btec Engineering- DD (equivalent to 2 A in A levels)

Reply 4

sogeking19

Original post by MindMax2000

If you intend to go into accounting or the finance sector, I wouldn't recommend the degree (for one, you don't need a degree to get in the sector, and two they accept people with any degree).
If you have covered engineering (at least the theoretical aspects of it), you would likely find the maths in accounting too simple. The hard maths in finance is in quants and actuarial science, otherwise it's relatively straightforward.
Accounting is generally fast but accurate data entry. A lot of the higher level stuff is in making judgements that you can be reported for (if incorrect).
Most roles in finance tend to be in selling and networking i.e. a people business, so it's not exactly rocket science. Most of the difficult maths is done through spreadsheets and programming, so you're more or less stuck with the customer facing roles. Otherwise, it's back office accounting/admin.
Personally, I would find the engineering roles a lot more appealing.

Yes I was looking through some accounting degree and they mentioned an accounting degree is not required as much because there’s is AAT qualification that come into consideration.

I was planning on doing the AAT qualification with my apprenticeship but my mother wants me to achieve a degree in my life so I’m kinda in the dead end. So I was thinking of doing a degree in accounting and finance

Reply 5

kijoh19

Original post by sogeking19

During GCSE I achieved all Grade 4
During A-Level/Equalivent: Core Maths (not A level Maths) grade C, EPQ-A* , Level 3 Btec Engineering- DD (equivalent to 2 A in A levels)

Yeah I’m also applying for accounting apprenticeship

Reply 6

MindMax2000

Universities Forum Helper

Original post by sogeking19

Yes I was looking through some accounting degree and they mentioned an accounting degree is not required as much because there’s is AAT qualification that come into consideration.
I was planning on doing the AAT qualification with my apprenticeship but my mother wants me to achieve a degree in my life so I’m kinda in the dead end. So I was thinking of doing a degree in accounting and finance

I was looking through some accounting degree and they mentioned an accounting degree is not required as much because there’s is AAT qualification that come into consideration.
I am going to go further and say you won't even need the AAT qualification. With your BTEC and Core Maths, you would be eligible to go straight into a suitable accounting qualification. They typically require passes at A Level and adequate GCSE grades, including English Language and Maths.

I recommend checking the entry requirements for the following:
https://www.accaglobal.com/uk/en/qualifications/glance/acca/minimum-entrance.html
https://www.icaew.com/regulation/qualifications/aca-entry-routes
https://myfuture.cimaglobal.com/starting-a-career-in-management-accounting/ (no qualifications are required)
https://www.aiaworldwide.com/aia-journey
https://www.icas.com/become-a-ca/routes-to-becoming-a-ca/how-to-become-a-chartered-accountant-ca-by-the-school-leaver-route
https://www.cipfa.org/qualifications/compliance-with-the-professional-qualifications-act
https://www.charteredaccountants.ie/Prospective-Students/Entry-Routes/ATI-Graduates-Route

I was planning on doing the AAT qualification with my apprenticeship
Doing AAT is a little redundant, because doing it at Level 3 would put you in the same position as you are now. Level 4 might give you a few exemptions, but I would still rather go straight into the accounting qualification.
On the other hand, if you need to do the AAT qualification to get your foot in the door, that's a different matter.

my mother wants me to achieve a degree in my life
Doing a degree is kind of redundant and would probably take longer for you to qualify. Even if you walk away with a degree, you would still need the equivalent of 3 years' professional experience on top. However, if you did an apprenticeship and go straight into the accounting qualification and study whilst you work, you can do everything within 3 years (including passing all papers).
If you want to do a degree in a specific subject because you want to study it because of your passion for the subject, then by all means go ahead. You can always do an accounting qualification afterwards, because of your A Level and BTEC (and GCSEs), not your degree.
Also, do note that by being a fully qualified accountant (passing all papers and getting the necessary relevant professional experience) you would hold the equivalent of a master's degree in accounting i.e. you would be able to lecture university students in accounting should you wish.

I was thinking of doing a degree in accounting and finance
If your sole aim of doing the degree is to get into accounting, then this is redundant. You might get a few exemptions for your professional accounting qualification if you pick specific modules and the degree is accredited by the professional accounting body (most are accredited by CIMA, ACCA, and ICAEW, but do check the exemption calculators for each qualification and do check the course page of each degree). However, I would still consider this redundant since it will cost you at least £27000 whereas the alternative will cost you £0 (of a few hundred pounds if you need to pay for your own fees), and the alternative takes less time.

If you desperately want to do a degree, you can look into doing a master's in something in social science after your accounting qualification. Some degrees such as MBAs from top unis accept professional accounting qualifications as entry requirements. I don't recommend doing such degrees because

it won't help you to become an accountant

it won't help you get jobs in becoming an accountant

most master's degrees are usually there to allow you to get into academia, but there are some degrees to allow you to go into specific professions in industry e.g. healthcare

they are very expensive. With professional accounting qualifications, you might have a bit of trouble of getting funding for specific degree courses since it's the equivalent of master's degrees (do check with student finance to be sure).

If you want to change careers and your choice of career specifically require a degree (e.g. teaching, academia, architecture), you can do so. However, it's very likely that you would need to start from a bachelor's level as opposed to going straight into a master's since you would be going into a completely different discipline and heavy regulations would require you to jump through these hoops before you can proceed to go into the sector. If you have done a professional accounting qualification, you might not be eligible to get student loans for an undergrad unless it's one of the roles in the exemption list: https://www.heinfo.slc.co.uk/resources/guidance/courses-management-service-user-guide/eligibility/equivalent-or-lower-qualification-elq-exceptions

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