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Original poster

Calling accountants - can you help me decide which (if any) qualification do to?

72 replies

CountessDraculaPI · 05/09/2007 11:15

I have worked for about 13 years implementing financial systems as a Business Consultant/Analyst and Project Manager, I am effectively a systems accountant but qualified by experience. I became self-employed this year and I am wondering if I might do some kind of qualification to bolster my CV a bit. Also I'm sure there are huge gaps in my knowledge as I have just picked it all up as I go.

I have worked in all sorts of businesses but I would like to target consultancies as I like this sort of work best. I work with lots of FDs, FCs and Managment accountants in this area so I guess I could ask their advice but I don't want to flag up the fact that I am not qualified (though I never pretend to be and whenever I say it people look amazed as I do talk a good game!)

The two I was looking at are the DipFM or maybe a CIMA qualification (the certificate to start). Would these be appropriate? Not really sure about all the different qualification and what is percieved as being most valuable in my sort of area.

Many thanks in advance for your help!

OP posts:
Hurlyburly · 05/09/2007 14:38

CD - what do you want the qualification for?

Is it to find a new permanent job? Or is it to find a succession of consultancy roles?

I wouldn't recommend struggling for another bit of paper unless it is something that is very widely recognised.

So yes to MBA or ACA or any of the other recognised accountancy qualifications - although I agree that they are not essential - and bear in mind that they'll be a hard grind with children - and no to sets of initials that haven't got much brand recognition.

Furzella · 05/09/2007 14:38

I did CIMA about twelve years ago. I hated every minute of it, but it's been really useful and is a qualification that people respect. I'm a management consultant in a boutique practice that specialises in technology strategy. Having said that though, I moved away from finance about 9 years ago. In my current job I was headhunted into it via some people I worked with years ago - which backs up exactly what people are saying about personal recommendations being more important than qualifications. CIMA is well thought - but hard and dull!

An MBA will get you a bigger increase in salary.

Hurlyburly · 05/09/2007 14:41

I am an ACA (well FCA but not that it means anything other than a VERY OLD ACA who can remember what a SSAF is) and I did toy with doing an MBA.

Work told me they would fund it - but it would be hard work - but there's some research that it only increases your salary by a bit if you are older - and then my mentor person told me what the MBA initials stood for and put me off completely.

Mediocre But Arrogant

jura · 05/09/2007 14:46

This reply has been deleted

Message withdrawn at poster's request.

Hurlyburly · 05/09/2007 14:50

Oh I really am old

Statement of Source and Application of Funds.

I sound as though I am the same vintage

jura · 05/09/2007 14:54

This reply has been deleted

Message withdrawn at poster's request.

Kewcumber · 05/09/2007 14:56

oh god I remember them - they were revolutionary when I was training!

Mog · 05/09/2007 14:57

Is CIMA very dull? I'm thinking of doing this. Would acca be more interesting?

Kewcumber · 05/09/2007 14:58

Oh jura - I think they were only on about SSAP21 when I qual'd and FRS's were a mere twinkle in their mothers eye at the time.

Kewcumber · 05/09/2007 14:59

KC whispers

Kewcumber · 05/09/2007 14:59

depends which flvour of dull you like as to wheterh to chose CIMA or ACCA

Hurlyburly · 05/09/2007 15:06

HAHAHAHA!

I am younger than both of you.

When I did PE2, I had to do a cashflow statement! So I did an FRS!!! Leaving the old SSAF behind ... Sad it was.

Kewcumber · 05/09/2007 15:10

only reason I didn't do FRS's at PE2 is because I was a child prodigy...

Hurlyburly · 05/09/2007 15:11

Yeah yeah yeah

CountessDracula · 05/09/2007 15:28

is ACA an actuarial qualification though?

I do earn well already, I was thinking more along the lines of being able to pick and choose the more interesting contracts if qualified.

Hurlyburly · 05/09/2007 15:40

Nah. I'm not an actuary. What a blooming insult. I'm PILES more interesting than that ...

ACA is the qualification given by the Institute of Chartered accountants of England and Wales.

FCA is the same thing awarded to VERY OLD MEMBERS (ie members of 10 or more years' standing who fill a form in)

Sometimes known as chartered.

ACCA is a different awarding body and is for cost accountants. Different exams and everything. CIMA is management accountants.

Have no clue what the qualification for an actuary is

Kewcumber · 05/09/2007 15:45

ACTUARY [SHOCK] CD!

CountessDracula · 05/09/2007 15:51

this is ACA too!!!

CountessDracula · 05/09/2007 15:53

ahh now as I want to work with consultancies (and do now) the cost accounting route would be best for me

I think that's what led me ot the ACCA DipFM to start wih!

gomez · 05/09/2007 16:00

Right I am ICAS, QiCA, MBA and APM (Member) currently earn bugger all and am about to start an LLB. I am more than happy to sell any onto you for a small (ish) feee!

CountessDracula · 05/09/2007 16:03

you earn bugger all with all that?!
Amazing

OK I will buy the MBA
I don't mind having one I just cannot be fucked to do it

CountessDracula · 05/09/2007 16:04

oi gomez get thee to the xmas meet-up menu thread!

gomez · 05/09/2007 16:05

I have responded on your survey thingy - agree with your choices. Sorry!

CountessDracula · 05/09/2007 16:05

oh sorry

Why are you doing an LLB?

gomez · 05/09/2007 16:06

Oops I earn bugger all cause I dropped another sprog last year and have been sitting on my bottom since then.

Left consultancy behind about 3/4 years ago now, moved into public sector (doh!), lost the will to live and decided to follow my Rumpole of the Bailey dream.