AAT/ACCA/accountancy

[Mog]

I know we have a few accountants on here so would appreciate some help. I'm looking to start the AAT qualification in September - mainly for interest and also dh and I are in the process of setting up our own business. I'm always up for a challenge so am looking at how far I can take this if I really enjoy it.
So can anyone tell me - do you enjoy accountancy and what areas do you work in. Also do you think there would be a bias against 'older' people who retrain in this. We know now their can't be (!) but in the real world would it be difficult to get the practical experience as a more mature student.
Would also be interested to hear from people who hate accountancy as want to go in with my eyes open.
Thanks in advance

[whoopsfallenoveragain]

I am a legal cashier so deal with solicitors accounts. I started off in purchase ledger and did the foundation stage of AAT would have loved to have carried on with it but that's another story!

[Oblomov]

I am a part qualified accountant.
I love my p/t job to bits.
I didn't do AAT, but my bf did. All study for accountancy is v hard. I couldn't do it now, with ds.

There was a very good thread -sorry, don't know how to link a thread :
"career advice please - should I go into accountancy or teaching"
on 26 Mar 07 - search for it - you will love it and learn alot.

[Mog]

Thanks both of you.
Can you say what you love about it Oblomov - I know I like working with figures and my mum says I'm the only person she's met who likes filling in their tax return! I also like writing fatual reports and interpreting data (I'm a scientist by trade).
Whoops - I was hoping to do a good part of the training before getting a job (or have a relevant part-time job). Do you think that would still be impossible?

[Mog]

factual

[wurlywurly]

i have done aat, was working in accounts practise at the time, I could have started at level 2 but i found it better to start at level 1 more for the book-keeping simply because we do it in more of a short handed form and during the exams you have to show all of your workings. I think that you have to have completed AAT to be able to do ACCA as a friend of mine is doing ACCA at the momtent, as well as being very expensive it is also very intense.

I have always enjoyed the work I have done from the small jobs where we would be brought in a bag of receipts to more indepth jobs that we would also do all the vat and tax returns for.

[crunchie]

Most people study whilst they are working, rather than study first. IMHO employers are often happy ot help with teh costs of studying too.

Also practical work helps with the theory IYKWIM

BTW I am not an accountant, I work in recruitment for accountants

[J20BABY]

i wanted to do the aat after my accounts a levels, which was quite hard, but my local college only did night classes, this year they have decided to do the aat as a full day once a week, which i'd love to do, but am expecting in oct! not fair!

i'd maybe recommend doing the a level, or foundation course, or if its a lot to do with running your own business, 'pitmans computerised accounts' and 'payroll' courses would probably be beneficial to you and are only 10 week courses for about 3 hours a week.

[J20BABY]

p.s, i found no bias at all for being older, and i was in a classroom of 16 yo when i was 24 x

[whoopsfallenoveragain]

I had no experience when I went into my first job as purchae ledger in an accounts department whilst in that job I studied the foundation level of the AAT and really got into accounts and decided that was the field I wanted to stay in I went from that to being an expenses clerk to then legal cashiering back to purchase ledger and then back into legal cashiering the only qualification I have is the AAT although I am studying towards ILCA diploma. I have only ever worked in accounts departments of companies rather than accountant firms

[chocolattegirl]

I've done the foundation level of AAT. I started the intermediate level but for various reasons, I dropped out as my interest in accounts was waning by then (I'd been in accounts about 8 years by then and fancied a change!). I wound up going to uni instead a year or so later but I would say that taking the AAT is really good grounding for learning how book-keeping works. It's not only basic book-keeping (cash and credit transactions) but you also learn manual payroll, health & Safety at work, communicating at work (from what I can remember you write some standard 'office' letters), a bit of contract law and so on right up to trial balance on the accounts side.

I'd suggest talking to your local college to see what they suggest as the best course for you as really the AAT is designed for people working in practice. It may not be necessary to have the full bells and whistle for a self-employed person . Alternatively you may be able to start on ACCA/ACA straightaway if you already have a degree.

[Oblomov]

I think my job is the best I have ever had.
I am very well paid. Really nice firm. Love my colleagues -we all laugh & laugh & laugh, plus work hard.
I have had accounts jobs since 16. Purchase ledger, sole book keeping, Purch ledger manager, sales ledger, credit control - most things.
Worked in practice - got part qualified there.
Left and went to industry.
My current job is as a ... bookkeeper, I suppose. I am solely in charge , reporting to Finance Director, for 3 of our sister companies.
I love reconciling their bank , Vat etc - it's all mine.
I do payroll, complicated corp tax, final stat accounts, deal with the auditors.
I am also involved in our parent companies - analysing data, forecasting, - I am given the opportunity to get involved in many things that a 'normal bookkeeper', would not be exposed to.
I love it.
Like you, I am really sad and get alot of satisfaction from recs, tax returns (which I do for friends) etc.

I also do statutory accounts and corp tax for an accountant friend.

There are so many different kinds of jobs that fall under the category of 'accounting'.

I count myself lucky, that I am so happy.

[mishw]

I'm currently trying to register with ACCA (I say trying, I filled in the form ages ago and they still haven't got back to me)

I don't have a degree but am going at it from the mature student way - would I be better off doing it via AAT? I've always loved maths and numbers, I started an OU maths degree but realised that I'd still need to train in something once I'd qualified and several friends suggested accountancy - I know its more involved than just maths!

Sorry to ask my own question on your thread Mog

[ChasingSquirrels]

what you do depends on what qual's you have and where you want it to go - you mentioned being a scientist - does that imply a degree? (if so you could do ACCA or ICAEW - but unless you inyend to pursue it as a career there isn't much point).
if you mainly want it for your business, then AAT would give you a good grounding, or book-keeping class at nightschool (which could well lead to AAT anyway).
ACCA/ICAEW are tough, especially if you are working full time, AAT is more hands on and definately not as academically challanging.
you asked about age - depends how old you are and what you want to do with it tbh, a pp mentioned being 24 in a class of 16yo's - that's fine, but you won't find many accountancy firms taking on a (say) 30yo trainee, we want 18/21yo's that we can get a few years of graft from, then keep the good ones and get rid of the chaff once they qualify (of course it doesn't work that way - the good ones leave and the chaff stays )
I did ICEAW immediately after uni with a regional firm, went abroad for a few years with a big 4, and now work in a smallish firm in a regional city as a manager (doing accounts, tax, advice, ad hoc stuff etc).

[ChasingSquirrels]

mishw - you can do ACCA with a'levels, don't need a degree (and ICAEW for that matter). Have you tried ringing them? Are you working or funding yourself?

[Mog]

I'm a bit older than 30. So that's what I'm wondering - I could dive straight into ACCA but it's a bit pointless if no-one would employ me.
Whether I do ACCA or AAT I'm hoping to do part of it off my own back so that employers will know I'm keen - as I'll be a career changer.

[ChasingSquirrels]

I'd probably start with AAT or nightschool, and see how you like it - it will give you the basics in book-keeping which would then open a variety of routes (self-employed doing book-keeping for other people, employed in accounts dept in some format - small business accountant, larger business accounts assistant, potential in practice doing ACCA/ICAEW having already shown you are keen - though for this one the age would count against you I think)

[ChasingSquirrels]

oh just thought - dh was trying to get into a training contract at 24 having seen me doing mine, he couldn't get a firm to take him on as a trainee at that age - so was going to go to college for a year to do the first level of ACCA just to show he was keen (circumstances changed and we went abroad instead) but shows how even a few years can make it more difficult.

[mishw]

CS - I called them yesterday and they said give them another week.

I'm going to home study the 1st part then hope that this will proove my interest to potential employers next year when I will be able to go back to work (2 small children, childcare costs too much atm) However I'm in my mid 30's will this put employers off?

Sorry again Mog - I will start another thread and stop hijacking yours!

[CarGirl]

I think doing some AAT or some course that involves the basics of T accounts would be good then you could leap onto ACCA but it is very intense especially if you have children.

[ChasingSquirrels]

the mid-30's thing depends on what area you want to go into - like i said below i am fairly sure it would put off accountancy firms, but wouldn't have the same impact on working in the accounts section of trading businesses. I know we can't be agiest - but I have never worked for anyone who would employ a 30+ trainee, it's just not how the system works atm.

[chocolattegirl]

Getting a job as an accounts clerk or book-keeper may not be so bad as an 'old fart' of 30+ but getting a traineeship for accounting may well be nigh impossible.

For some reason, jobs that require training -in any field - seem to stop at 25. I actually sent off a pre-lim enquiry to Ryanair to train as an air steward but got a reply back they cannot progress my application any further. Probably as my birth certificate is written in stone-age language so I must be far too decrepit to employ . It's the only thing I can think of why they rejected me at such an early stage and when I get the energy up, I may well raise stink about it.

Or not

[CarGirl]

think the age thing is partly to do with them wanting a return on their training investment! In can take anything from 5 years to qualify and it is pretty normal to have to resit at least a couple of exams etc.

[chocolattegirl]

Yes but even if you started at 40, presumably you'd still work til pension age which is going to be another 25 years or so so they'd get a return on that. I guess what they're really looking at is partnership potentials - an older person may not want to put a financial stake into a company as much as a younger person would.

[CarGirl]

I also think unfortunately many accounting roles are not suited to Mum's with children at home because of the hours you are expected to put in at month, quarter & year end. It does make me question whether it is worth me qualifying as do I really want the job & responsibility that goes with it?