Career help - Accounting

Hi, I'm planning on going to Uni of Nottingham for Finance, Accounting and Management with a Placement Year option. After uni, I plan to become chartered and then just go on from there. I'm writing this post to ask any1 who has been to UON or any1 just in general who does accounting, what can I do to become better. Like what stuff can I do to better myself as an accountant and increase my chances at landing summer internships during uni and a good placement year.
Currently, I am learning Excel as I heard it's as essential software that is used in the field. What other stuff can I do? Is there any volunteering, any experience, or anything like that I can do.
Also, what are the graduate prospectus like, what firms do people generally go into, and what's the process like?
Any help will be greatly appreciated. Thank you.

Hi, I'm planning on going to Uni of Nottingham for Finance, Accounting and Management with a Placement Year option. After uni, I plan to become chartered and then just go on from there. I'm writing this post to ask any1 who has been to UON or any1 just in general who does accounting, what can I do to become better. Like what stuff can I do to better myself as an accountant and increase my chances at landing summer internships during uni and a good placement year.
Currently, I am learning Excel as I heard it's as essential software that is used in the field. What other stuff can I do? Is there any volunteering, any experience, or anything like that I can do.
Also, what are the graduate prospectus like, what firms do people generally go into, and what's the process like?
Any help will be greatly appreciated. Thank you.

There are probably a few people on here who could give you a strong account on this (no pun intended). They're typically answering a lot of accounting related questions, so I have no doubt that they will pop up on here sooner or later.
Firstly, it's important to note that you won't need a degree to go into accounting. Second, your professional qualification would probably mean more than the degree that you do (even if it's in accounting). Third, your education and qualifications whilst important, are probably the last things the interviewer would be looking at
Like what stuff can I do to better myself as an accountant and increase my chances at landing summer internships during uni and a good placement year.I am learning Excel as I heard it's as essential software that is used in the field.
Meh. If you do learn Excel, I recommend Microsoft's MOS qualification:
https://learn.microsoft.com/en-us/credentials/certifications/microsoft-office-specialist-expert-2019/
I would ignore the Access and Outlook papers, unless you really want to do them.
If you just want the knowledge, then Slaying Excel Dragons by Mike Girvin (yes, I have similar opinions about the title myself) tends to be a good pick: https://books.google.co.uk/books/about/Slaying_Excel_Dragons.html?id=gPYkEQAAQBAJ&redir_esc=y
What other stuff can I do? Is there any volunteering, any experience, or anything like that I can do.
It's more about getting relevant work experience over anything else. Volunteering might not even help that much (the level of intensity and professionalism you need in the workplace is a lot stricter than what you get in volunteering).
The only other things that I would borderline consider is getting reputable qualifications on professional accounting software such as Sage: https://www.sagequalifications.com/shop?rvdsfpfr=7%3D36%257C
My preference would be CIMA accredited qualifications over the others in the link above (VTCT is a valid body, but not one in accounting; the ACCA qualification in financial skills means next to nothing in accounting).
Do note, do not take the certificate or qualification seriously if you can't do a proctor exam (the sort where you need to sit in either a computer room or exam hall with invigilators hovering over you) and it's officially accredited by either one of the accounting bodies (ACCA, CIMA, ICAEW, etc.) or the company that designed the software (ideally both) e.g. a course on Udemy or Coursera will not be taken seriously in accounting.
If you want, you might consider doing a Level 3 AAT (or ATT if you are only considering going into tax), but I consider that overkill since you're doing a degree in accounting and with your A Levels you would already be eligible for exemptions towards professional accounting papers.
Other than the above, you would want to know everything in the accounting field inside and out e.g. what roles are there? Who are the bigger firms? What services do firms provide? What is the job like? Why do you want to work in accounting? Is your personality compatible with the role and firm? What are the latest developments in accounting? What are the biggest things happening in the business world? You need to be able to offer informed commentary on anything that interviewers ask, because you would be doing something similar once you're in the job.
Also, what are the graduate prospectus like, what firms do people generally go into, and what's the process like?
Dismally thin. It's a cutthroat industry and chances of you getting into a top end firm is like 1/1000. Do note, you would be competing against graduates in all sort of subjects from chemistry to geography, from history to modern languages. Your degree means little to employers, especially for graduate schemes, even if it's in accounting. Out of the dozens of accounting firms that I have come across, only about 1 ever specified that they want graduates in accounting, and it's typically a small accounting practice.
Although the Big 4 are the biggest employers in the country, they don't employ all accountants - it's usually the medium and small businesses that take on accountants. If you specifically want to be a chartered accountant (not an accountant in the public sector, management accountant, etc.), you're looking at working in an accounting practice and not as an inhouse accountant (otherwise it will be difficult for you to become a financial accountant).
The standard application process involves an application, and then usually 2 interviews (one to pass the HR hurdle, the second one to pass the interview with the line manager who you would work under). There might be group exercises and aptitude tests to go through depending on the firm, because apparently they think these can determine how well you would do in the real job. The aptitude tests can trip you over, but do also note if your personality doesn't fit the job you probably will be miserable in the job.
Do also note, whatever papers you won't be fully exempt for, you would have to take them in the professional accounting qualification. You are typically expected to pass the first time round, and the second at the very most - failing these exams during your employment can mean termination of your employment. The professional papers are typically more difficult than the modules in your accounting degree. However, if you don't do well in your accounting degree, you might have slimmer employment prospects (and they sometimes ask for the marks for each of your modules in your degree).

There are probably a few people on here who could give you a strong account on this (no pun intended). They're typically answering a lot of accounting related questions, so I have no doubt that they will pop up on here sooner or later.
Firstly, it's important to note that you won't need a degree to go into accounting. Second, your professional qualification would probably mean more than the degree that you do (even if it's in accounting). Third, your education and qualifications whilst important, are probably the last things the interviewer would be looking at
Like what stuff can I do to better myself as an accountant and increase my chances at landing summer internships during uni and a good placement year.
I am learning Excel as I heard it's as essential software that is used in the field.
Meh. If you do learn Excel, I recommend Microsoft's MOS qualification:
https://learn.microsoft.com/en-us/credentials/certifications/microsoft-office-specialist-expert-2019/
I would ignore the Access and Outlook papers, unless you really want to do them.
If you just want the knowledge, then Slaying Excel Dragons by Mike Girvin (yes, I have similar opinions about the title myself) tends to be a good pick: https://books.google.co.uk/books/about/Slaying_Excel_Dragons.html?id=gPYkEQAAQBAJ&redir_esc=y
What other stuff can I do? Is there any volunteering, any experience, or anything like that I can do.
It's more about getting relevant work experience over anything else. Volunteering might not even help that much (the level of intensity and professionalism you need in the workplace is a lot stricter than what you get in volunteering).
The only other things that I would borderline consider is getting reputable qualifications on professional accounting software such as Sage: https://www.sagequalifications.com/shop?rvdsfpfr=7%3D36%257C
My preference would be CIMA accredited qualifications over the others in the link above (VTCT is a valid body, but not one in accounting; the ACCA qualification in financial skills means next to nothing in accounting).
Do note, do not take the certificate or qualification seriously if you can't do a proctor exam (the sort where you need to sit in either a computer room or exam hall with invigilators hovering over you) and it's officially accredited by either one of the accounting bodies (ACCA, CIMA, ICAEW, etc.) or the company that designed the software (ideally both) e.g. a course on Udemy or Coursera will not be taken seriously in accounting.
If you want, you might consider doing a Level 3 AAT (or ATT if you are only considering going into tax), but I consider that overkill since you're doing a degree in accounting and with your A Levels you would already be eligible for exemptions towards professional accounting papers.
Other than the above, you would want to know everything in the accounting field inside and out e.g. what roles are there? Who are the bigger firms? What services do firms provide? What is the job like? Why do you want to work in accounting? Is your personality compatible with the role and firm? What are the latest developments in accounting? What are the biggest things happening in the business world? You need to be able to offer informed commentary on anything that interviewers ask, because you would be doing something similar once you're in the job.
Also, what are the graduate prospectus like, what firms do people generally go into, and what's the process like?
Dismally thin. It's a cutthroat industry and chances of you getting into a top end firm is like 1/1000. Do note, you would be competing against graduates in all sort of subjects from chemistry to geography, from history to modern languages. Your degree means little to employers, especially for graduate schemes, even if it's in accounting. Out of the dozens of accounting firms that I have come across, only about 1 ever specified that they want graduates in accounting, and it's typically a small accounting practice.
Although the Big 4 are the biggest employers in the country, they don't employ all accountants - it's usually the medium and small businesses that take on accountants. If you specifically want to be a chartered accountant (not an accountant in the public sector, management accountant, etc.), you're looking at working in an accounting practice and not as an inhouse accountant (otherwise it will be difficult for you to become a financial accountant).
The standard application process involves an application, and then usually 2 interviews (one to pass the HR hurdle, the second one to pass the interview with the line manager who you would work under). There might be group exercises and aptitude tests to go through depending on the firm, because apparently they think these can determine how well you would do in the real job. The aptitude tests can trip you over, but do also note if your personality doesn't fit the job you probably will be miserable in the job.
Do also note, whatever papers you won't be fully exempt for, you would have to take them in the professional accounting qualification. You are typically expected to pass the first time round, and the second at the very most - failing these exams during your employment can mean termination of your employment. The professional papers are typically more difficult than the modules in your accounting degree. However, if you don't do well in your accounting degree, you might have slimmer employment prospects (and they sometimes ask for the marks for each of your modules in your degree).

Hi 3rd year banking and finance student here. Although I don’t go to the university you said, I feel like I can give you a pretty decent reply and my experience with university courses in this area.
First off I would like to say, good job on picking something alongside accounting such as finance and management. Not only is this a benefit to your overall degree but it will benefit you, as you won’t be bored out of your mind in class. Just taking accounting is very very bad. I say this because in an accounting course you will basically learn everything in the first 2 years! (Not over exaggerating here either!) 🤣
Secondly, to land internships at university they normally look for more than just “what you know”. Internships will definitely look at are you in a society, previous job roles (yes even maccies), how well you are doing at university, what university you go to, what grades are you predicated, how well do you work in a team etc. There isn’t really a way to “guarantee” a place per se as they are very very competitive especially in finance! However, tailoring your CV to an accounting/finance roles would definitely help you 100%
Thirdly, it’s great you’re thinking of internships before university, but please don’t let it be the ONLY thing you obsess about. This will make you not enjoy university (personal experience here as well). Internships are great, but like I said before they are extremely difficult to even get your foot in the door if you don’t go to a top university (I’m being 100% honest here). Yes some get in absolutely! It’s definitely not the common practice though. However, Uni of Nottingham puts you in a great place as it’s a semi target university! Definitely apply early, try your hardest, just don’t make it an obsession. My advice here would be, just prepare yourself for a lot of maths, and I mean A LOT of maths. Universities tend to over complicate things for subjects like finance, business, accounting to tailor you to become a quant machine 🤣(not even joking it’s quite ridiculous)
Overall, I think you are doing pretty well! I do applaud you, you are doing what not many students do and that can be a good thing but it can also be a bad thing. Like I said, university you are there to get a degree yes! But let’s not suck the blood out of the fun aspect as well…. It’s really important you enjoy your time at university, it’s a big step from going to living at your parents, cooking, cleaning, getting the food shop etc that on a daily basis you might take for granted! You will need to learn this! It can become a big challenge for most students.
If you do want to ask anything related to anything about university, course, what to prepare etc, please don’t be afraid to comment! If not I hope my answer here has helped you

Thank you so much for your response. Ngl, I had a mini panic attack just an hour ago about accounting and my future. Would you say accounting is a stable career or not? The main reason I chose it is because I heard it's a stable career, but idk fully. Also, UON being a semi-target, will that limit me from certain companies? And one more, do you think my general plan is OK - after uni doing chartered exams and just working up corporate ladder. Is there anything I could do better, and what's the reality of the situation. As in the second post, you mentioned having 2 years of experience before doing the exams, and I'm not sure if you're talking about the chartered exams. Thank you once again for your reply.

I’ll address this in bullet points 🤣
1. Accounting is a very stable career once you’re fully qualified, but overall it is quite a boring career
2. Yes/no, this is the thing, I couldn’t really tell you if it would or not. UON is a very good university however, if you do want the best case scenario/ best internship possible, LSE would be the better university.
3. Once again this is all subjective 🤣, if your plan seems fine to you then it’s fine. I will say though, accounting is very limited in the job pool aspect, finding a job in general would be difficult.
4. Yes for your charted exams, some may require that you have 2 years of experience to become a fully qualified accountant. Meaning you can take the exams, pass them, but you won’t be fully qualified unless you do the work experience in the relevant areas.
You’re doing just fine! Don’t stress, remember just prepare for university, prepare to be challenged and most importantly be prepared to challenge lecturers as well, they secretly love it when a student suggests a better way of doing things, don’t be afraid to disagree with the teacher 🤣 however, don’t be that one student who always puts their hand up and just causes the teacher to get distracted from the main point.
Any more questions feel free to ask

Hi, I'm planning on going to Uni of Nottingham for Finance, Accounting and Management with a Placement Year option. After uni, I plan to become chartered and then just go on from there. I'm writing this post to ask any1 who has been to UON or any1 just in general who does accounting, what can I do to become better. Like what stuff can I do to better myself as an accountant and increase my chances at landing summer internships during uni and a good placement year.
Currently, I am learning Excel as I heard it's as essential software that is used in the field. What other stuff can I do? Is there any volunteering, any experience, or anything like that I can do.
Also, what are the graduate prospectus like, what firms do people generally go into, and what's the process like?
Any help will be greatly appreciated. Thank you.

Could you elaborate on point 3 more? Why is it limited and what can I do to increase chances. My plan it to get a job ASAP after uni but ik that's very unlikely as the job market isn't very good right now. Also what qualification do you think is best out of the chartered ones. I was thinking about doing ACCA for flexibility but I heard ACA is like the main one in UK. Then there's CIMA and the others I think. In your opinion which one is the best for my career goals and if you could please give a reason as to why. Thanks.

Get on the job experience of using actual accounting software like Xero. It's the future because it saves companies shed loads of money in accounting fees. No business I've ever worked for used Excel except for a few very specific jobs.
You could work as a company accountant for a specific company. Often people doing this are asked to troubleshoot specific business areas, provide tax planning or performance analysis. Accounting is actually a very diverse field.

Thank you so much for your response. Ngl, I had a mini panic attack just an hour ago about accounting and my future. Would you say accounting is a stable career or not? The main reason I chose it is because I heard it's a stable career, but idk fully. Also, UON being a semi-target, will that limit me from certain companies? And one more, do you think my general plan is OK - after uni doing chartered exams and just working up corporate ladder. Is there anything I could do better, and what's the reality of the situation. As in the second post, you mentioned having 2 years of experience before doing the exams, and I'm not sure if you're talking about the chartered exams. Thank you once again for your reply.

Get on the job experience of using actual accounting software like Xero. It's the future because it saves companies shed loads of money in accounting fees. No business I've ever worked for used Excel except for a few very specific jobs.
You could work as a company accountant for a specific company. Often people doing this are asked to troubleshoot specific business areas, provide tax planning or performance analysis. Accounting is actually a very diverse field.

You're on a great path already. learning Excel is a solid start! To stand out, consider:
Stay proactive, keep building experience, and explore ACCA job listings to understand what employers are looking for. You'll be ahead of the game.

Either of them qualifications are very good. It’s very limited because you will only be able to go into things that are “accounting” related. Plus for most qualifications, you need to have a minimum of 2 years of work experience to officially pass the exams. University does not cover this!. Accounting in general is soo bad at university, you’re better off getting an entry level job and work your way up, make them pay for things. Out of everyone in the “finance industry” accounting (those who go to university for it) are one of the most unemployed straight after university, due to not being actually qualified for that said role.

Either of them qualifications are very good. It’s very limited because you will only be able to go into things that are “accounting” related. Plus for most qualifications, you need to have a minimum of 2 years of work experience to officially pass the exams. University does not cover this!. Accounting in general is soo bad at university, you’re better off getting an entry level job and work your way up, make them pay for things. Out of everyone in the “finance industry” accounting (those who go to university for it) are one of the most unemployed straight after university, due to not being actually qualified for that said role.

Uni doesn't actually matter if u are doing accounting, all u need is a 2:1 but where it comes handy is going up the corporate ladder, e.g. after u done Ur aca u switch to IB, that's when the Uni comes into place. Also if u are scared of landing a grad role, u can also consider an apprenticeship especially for accounting and also for the qualifications, CIMA is the management qualification where as the ACCA and ACA are financial accounting, personally id chose the ACCA or ACA both globally recognised, ur choice tbh. And also u need 3 years experience not 2 to do the CA exams.

Uni doesn't actually matter if u are doing accounting, all u need is a 2:1 but where it comes handy is going up the corporate ladder, e.g. after u done Ur aca u switch to IB, that's when the Uni comes into place. Also if u are scared of landing a grad role, u can also consider an apprenticeship especially for accounting and also for the qualifications, CIMA is the management qualification where as the ACCA and ACA are financial accounting, personally id chose the ACCA or ACA both globally recognised, ur choice tbh. And also u need 3 years experience not 2 to do the CA exams.