Any bookkeepers/accountants around for some advice?

[PuffofSmoke]

Leaving school (10 years ago) I wanted to study accounts at university, having done well with business & accounting at a level, instead I got offered a full time position in my after school job (unrelated to accounts) and have been there ever since.

I decided that I did want to get my degree and have 2 modules to go before completing a BA in Business Studies with Accounts with the OU. During my various modules I have done accountancy based exams which give exemptions from professional bookkeeping/accountancy exams.

Which professional body is best to go with? ACCA, CIMA, AAT? The options seem endless and I have no idea! Or is it better to go for a bookkeeping qualification?

Any advice or wisdom would be gratefully received!

puff, there are 3 main routes to being a qualified accountant - ICAEW, ACCA and CIMA.

ICAEW is the 'gold standard'. It's very tough and academic. You need to train with an approved training practice ie a big firm of accountants. It will command the highest salary and opportunities. Most listed companies will have an ICAEW accountant as FD for example.

ACCA is a slightly less prestigious qualification suited to both accountancy practise and accountants working within a business, whereas CIMA is more for accountants working within a business.

Depends what you want to do ultimately and how academic you are. If you want to work within a business then AcCA or CIMA. If you want to work for an accountancy firm then ICAEw or ACCA, but generally you would have to be accepted into their graduate training scheme and they would dictate what qualification they want you to take

Let me know if you want more info

If I were you I would get a job in an accounting role and take it from there.

Your employer will hopefully pay for your exams & give you study leave, though not all do, you'll get relevant experience for your qualification and also different employers have different preferences in terms of professional qualifications.

FWIW, I did ACCA because its flexibility suited my circumstances best.

Thank you so much for your responses.

I have applied and applied for junior accountancy roles for over a year with no success. :(

I was very academic at school, left with all As, just wish I had done something then with it! Also passed all OU courses with grade 2 or distinctions. Just can't get a job doing anything remotely related to accounts, hopefully once I graduate I may have a better chance? I am fairly well paid in the job I am in at the moment but it is terrible hours, not at all family friendly, I hate it and need out. :(

I have done a bit of bookkeeping for various village committees and clubs and through this have done bits and pieces for local farmers etc (very informally, not as a job). Do you think this would be something to pursue? Or could you not set up officially as a bookkeeper without practical experience even if you did have the qualifications?

If you have good academics, have you tried applying for the big accountancy firms? (Or do so after you graduate) There is a lot of competition for them but they are good places to train.

Have you had any useful feedback on your job applications? I know it's much harder these days than when I was first looking for a job so all the help you can get there should help you improve your chances.

Anyone can set up as a bookkeeper or accountant - with no knowledge or experience(!) - so there is nothing to stop you setting up your own practice. But of course, without training you are basically learning as you go which (personally) I don't think is very fair on paying clients. Also (presumably for this reason) professional bodies aren't keen on your practicing as you train. You'd need insurance and personally I think that to set up on your own without having previously worked in a practice doing that service is somewhat foolish. But a lot of people do it and all sorts of other foolish things of which I disapprove.

Have a search on AccountingWeb as this question comes up a lot and there are lots of useful posts (as well as some very rude ones, which you can ignore)

Thanks will have a look at AccountingWeb, don't usually stray far from here!

I understand totally what you are saying about experience before setting up myself, that was really what I was thinking anyway.

I have never even had an interview for an accountancy or office position. Any of the big companies either want school leavers or graduates, I am in between! Possibly employers look at my CV and application and think why is she applying for this? (I would be taking a pay drop for any of the positions I have applied for) I live right between Edinburgh and Glasgow so have plenty of choice location wise, although there doesn't seem to be much advertised. Any hints or tips for coming across better?

I hope once I graduate that I will be a more attractive prospect, my last two modules don't start until October so that won't be until this time next year. The thought of another year doing what I am doing is killing me. :(

Have you thought about getting some work experience on your CV? You could write to local large businesses and ask for unpaid experience, it would mean you taking some annual leave from your current job but would give you an idea of the nature of the work as well as showing initiative to future employers?

I hadn't thought about that, is that something large organisations would do? How would I word a letter? Just explain my situation? I work Thurs-Sun at the moment so would only need a couple of days leave if I was to get a weeks work experience. I have got nearly 10 years management experience which has included paper work and admin, so not totally alien to the office environment. Why can't I get a job :(

I run a finance dept of listed company in London (am on mat leave now though) and we often get requests, we've had a few people in over the years, especially at busy times or to cover summer holidays! I would explain your situation and that you are very keen to study ACCA or CIMA and send it to the HR or finance director of each company. Also send to HR dept of top 20 accounting firms offices. I did this when I was doing A levels and I got some experience which I think helped me (but times were different back then, I know it's hard to get a job at the moment)

If you are looking for some accounting advice, I would advise www.monahans.co.uk/ did wonders for me.

Not too long ago they even had free clinics open for those seeking advice! It's worth keeping posted on what they are up to.

Their website covers all areas of accountacy if you wanted to have a little read.

Like i said, helped me out ALOT!

I'm an accountant in industry, and I think you might fall between two stools a little bit in terms of the skills that you offer. You haven't got the practical experience, so you can't demonstrate that you would be able to hit the ground running, but you've got management experience so I would expect (and this is obviously my prejudice, but others may share it) that you would be less willing to do a lot of the fairly boring and repetitive work that forms a significant part of a junior accounts role.

What sort of roles have you been applying for?