Bs accounting and finance or acca

1

Hey there guys its my first question here 👋
So i am currently doing my foundation diploma of acca and i was wondering if i was making the right choice?Should i do bs accounting and finance from a Russell group uni or just carry on with my acca and do Msc accounting and finance after my obu?
Note: I want to have my own startup after working 5 years in the profession.

(edited 12 months ago)

Reply 1

MindMax2000

Universities Forum Helper

22

Original post by Kingkhanx495

Hey there guys its my first question here 👋
So i am currently doing my foundation diploma of acca and i was wondering if i was making the right choice?Should i do bs accounting and finance from a Russell group uni or just carry on with my acca and do Msc accounting and finance after my obu?
Note: I want to have my own startup after working 5 years in the profession.

There's so many issues with this posts.

Should i do bs accounting and finance from a Russell group uni or just carry on with my acca
Why would you want to do a degree in accounting if you want to go into accounting? It's quicker to qualify and you are more likely to guarantee a job when you work whilst you study. Your experience would be more valuable to employers than the degree, assuming you only want to go into industry and not academia.

do Msc accounting and finance after my obu?
I don't see the point in doing the MSc should you want to work in industry only. The requirement to become an accountant is a suitable professional accounting qualification with relevant experience, not a degree in accounting of whatever level. If you want to go into academic research in accounting or finance, I can see the point in doing the degree. Otherwise, you're wasting time and money.

I want to have my own startup after working 5 years in the profession.
This is all over the place.

You don't need anything to start up your own company. If you wanted to, you could do it now.

If you want to work in the profession, what exact role do you intend to go into if you want your own startup? Startups are typically in reference to entrepreneurial ventures with the aim of scale and nationwide reach, as opposed to opening a mum and pop shop down the road. If this is the case, it makes more sense to study management accounting, if you want to contribute to the company as an accountant (which you are not required to).

The best management accounting qualification in the UK is CIMA, not ACCA. Do you intend to work abroad or something?

If you intend to start an accounting practice, ACCA would make sense. However, why not ACA as opposed to ACCA?

Why do you want to wait until after 5 years into the profession? What's stopping you from starting your company now? You get qualified in accounting once you have the equivalent of 3 years' qualified experience; you could gain this during your study (hence why you qualify quicker and cheaper if you study whilst you work as opposed to doing a degree). The extra 2 years of experience post qualification is nice to have, but that's usually if you want to become self employed and start your own practice.

I probably can give you a list of entrepreneurs who have created startups with significantly less than what you have.

I don't see how all this gels together or on what basis does any of the above make sense. You don't have to answer my questions, but you would need to answer similar questions investors would ask should you raise funds for your company.

Do also note, starting a company (let alone a multimillion pound venture) is not easy. Nothing guarantees its success, although there are things you can do to mitigate a number of risks. There can be multiple right answers, but many more wrong ones.

I think you need to think all of the above through a lot more. As far as I can tell, a lot of the above don't make sense. If you have ulterior motives and reasons for doing the above, then it might be useful if you mention them. Otherwise, you just come across as being very undecided and confused.

Reply 2

OxfordBrookesDan

Official Rep

4

Original post by Kingkhanx495

Hey there guys its my first question here 👋
So i am currently doing my foundation diploma of acca and i was wondering if i was making the right choice?Should i do bs accounting and finance from a Russell group uni or just carry on with my acca and do Msc accounting and finance after my obu?
Note: I want to have my own startup after working 5 years in the profession.

Hi @Kingkhanx495,

It’s fantastic that you’re considering your future in accounting and finance! Both the ACCA and a degree from a Russell Group university have their merits, and the right choice depends on your long-term aspirations. An ACCA (or a similar professional qualification) or a university degree are both viable options, but one may be more suitable for you depending on the career outcome you’re looking for.

If your primary objective is to qualify as an accountant, pursuing the ACCA while gaining relevant work experience can be a faster and more straightforward path than obtaining a bachelor's degree. Employers in accounting generally prioritise professional qualifications and work experience over academic degrees, so if you aim to operate within the industry, an ACCA qualification alone should suffice. Additionally, work experience in most areas tends to make studying at university easier, as it places students in a stronger starting position; in many sectors, it is uncommon to have work experience before obtaining a degree, hence there are advantages to having work experience beforehand.
If you’re keen on academic research or positions in financial analysis and investment banking, a degree (especially from a Russell Group university or a reputable Business School such as Oxford Brookes Business School) followed by a master’s degree may be a better option. However, for most accounting careers, an MSc is not mandatory, as professional qualifications like ACCA, CIMA, or ACA are more valuable.

Since you’ve indicated a desire to start your own business after five years in the profession, it’s crucial to contemplate the type of business you wish to establish. If you intend to launch an accounting practice, an ACCA (or ACA) qualification would be especially relevant. Conversely, if you’re considering a broader startup, such as a finance or tech-related company, a background in management accounting (CIMA) or business strategy might prove more advantageous.

Ultimately, there isn’t a single "right" answer, but reflecting on how each option aligns with your career vision can aid you in making a more informed decision. If you’re still uncertain, engaging with professionals in the field or examining job descriptions for roles you aspire to can provide additional clarity. One possibility worth exploring is the BSc in Applied Accounting offered at Oxford Brookes University. This course and similar programmes could suit you as you progress with the ACCA while also obtaining a university degree.

Best of luck with your studies and future career! Please let me know if you have any further questions 😊

Reply 3

ajj2000

20

Are you working in an accounting related job while studying ACCA?

Bs accounting and finance or acca

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