Re training as an accountant - possible to do via OU or equivalent?

[scaredoflabour]

Just that really. I have a first class degree in maths but ended up being a teacher. Now thinking, with 35 years of work (at least) retraining might be the way fwd but can't afford to give up work to do it. Is OU a realistic route?

ACCA is cheaper, and a recognised professional qualification. Or ACA but personally I went for acca as more flexible.

You need experience to become qualified 3yrs), and to pass the exams. The norm is that employers take on trainees, pay them, pay the exam fees and provide the experience.

Do your research, though. Why do you want to be an accountant? It's not all about maths.

I second the ACCA route. (3 more exams to go!)

It allows flexibility as you can self study or attend a range of classes from different providers. you have ten years to complete 14 exams. Depending on previous qualifications you could be exempt from some of these.

The experience thing could be tough though as you need 3 years in a relevant role in order to achieve different objectives.

There is also CIMA if you wanted to become a management accountant.

Good Luck with your decision!

What sort of courses is the OU offering? Accountancy degrees can sometimes give exemption from some of the professional exams but you will need to decide which accountancy route you want to go down. I did ACA and worked in an accountancy practice. ACCA and CIMA are two of the other routes.

I mark one of the ACCA papers, jollyjester - hope the rest of your exams go well :)

Thanks Miranda I'm doing a resit this June (Im actually embarrassed at the amount of attempts this paper is taking me!)

I need all the luck I can get!

I mark one of the F papers so probably not marking yours but my main bits of advice are to allocate your y

. Allocate your time so you attempt everything, start with the question you like the look of best, leave plenty of space in your answer, use paragraphs and headings as they will lead the marker to see what you are talking about and write as clearly as you can :)

Oh and if it's a numerical paper then please cross reference your workings. Makes it easier for the marker :)

OU is presumably an accountancy degree rather than one of the bodies?

It will take you longer to become a qualified accountant that way - I would recommend the same as the others, try to study with a body such as CIMA or ACCA. You could start with AAT first to give you the basics if you want. All can be studied distance learning / part time or to suit you but you will need experience to gain full membership.

Have a look at the websites for the various institutes - CIMA, ACA, ACCA and CIPFA.

Bear 1 thing in mind, I started training when I was 34, and never gained back the salary I lost. I may have been unlucky, or trained with a shit firm - I was made redundant during my training contract, which was a breach of contract, but the members of the ICAEW had taken counsel's opinion, so loads of firms did it with impunity in the '90's. Also, my personal pension - the firm didn't provide one, is worth less than 2k per year.

There is normally a graduate conversion course, now called certificate, if you don't have a relevant degree. Your maths degree would give you an exemption from the maths, and possibly the IT paper, if those subjects still exist.

It's worth contacting your local regional office, and speaking to their training advisor, especially which firms will recruit 'older' trainees. Some will, some won't, depends if they think 21 year olds are more malleable. The big 4 possibly won't.

You could always try and get a couple of weeks work experience with a local firm during the school summer holidays. I got an intro to a local accountant via the bank manager - a couple of centuries ago.

If you do ACA, you will have study pack exams every 2 weeks. My firm, we did them Saturday mornings, the big 6, as they were then, did them in the office on a Friday afternoon. They also got a week study leave before going on courses. I used to take holiday.

You could also try someone like Career Analysts to do aptitude tests to see if it might be for you. Bastards told me to become an accountant - should have stayed in IT, with a pension of 35k a year. Hindsight is a wonderful thing.