Any accountants / finance managers around to give advice on career dev?

[UnexpectedItemInShaggingArea]

I am currently a project manager in HE but have worked in lots of different roles, including 10 years in financial services.

I want to develop my portfolio of skills towards my next promotion and have identified accounting and finance knowledge as a knowledge gap.

Can anyone advise on a course or qualification that they would recommend? Kind of like accounting & finance for non-financial managers, but at a reasonable level as I want to progress pretty far up the ladder. I have a reasonable understanding so I'm not starting from zero.

Thanks!

Hopeful bump?

AAT?

I would also suggest AAT, particularly the last two levels, to give you a good understanding.

Thanks for the replies, much appreciated. I've had a look at AAT now and some of it looks quite basic.

Could anyone comment on ACCA?

I did CIMA rather than ACCA, as it tends to be more suited to working in industry.

I did do AAT, but it is a good foundation - if you already know the 'basics' about bookkeeping and have the knowledge/ability to prepare accounts to trial balance already, then it probably wouldn't be great for you as you already have some experience.

The thing about ACCA and CIMA though, is that you really need to be working in a position at least related to accounts/finance in order to see how what you are covering actually translates in practice. Although this wouldn't be necessarily straightaway.

What sort of promotion are you hoping to achieve? If you want to become an accountant/finance manager then this would be a good move.

I want to be a COO

Definitely go for AAT.

If you want to be a COO you need to aim higher than AAT , I would say ACCA or CIMA .I am ACA?

Yes, but AAT is a great way in, and will give you a step up onto whatever next accountancy qualification you need. If you need it.

You would find it difficult to complete your logbook for ACCA unless you are actually working in a finance position. Mind you the same goes for CIMA. Try AAT and trade up if it is too basic.

Ok, consensus seems to be to start with AAT. Is there a good way to study for it? Any particular providers or materials you would recommend?

Also, I run my own business on the side - an LLP - which I currently pay an accountant to submit the returns etc. for (mainly because of time) so I could use that as evidence / practice as well as saving money in the long run...

AAT can be done distance learning through Kaplan/FTC - have a look on the AAT website aat.org.uk there will be a list of recommended providers here www.aat.org.uk/qualifications/how-and-where-to-study-aat. You are likely to get a number of exemptions anyway, so could probably get through it pretty quickly. Will then in turn provide exemptions to ACCA/CIMA if you choose to progress with studies.

Wrt your separate business, yes - once you have done your AAT, then you should be able to prepare & submit the accounts & returns yourself (you could always work with your accountants the first time, or ask them to check them over) which will help towards evidence & experience, but is unlikely to be enough on its own.

Alternatively, there are 'finance for non-financial managers' courses available - this is one at the OU: www.open.ac.uk/courses/short-courses/gb012

Thank you Ellypoo, much appreciated. And great news that AAT can give you exemptions from ACCA / CIMA if I go onto that.

I have ordered a pack from AAT and if it looks good I think I will start there. Although some of it might be familiar I should probably concentrate on getting the basics right before getting too ambitious.

I am just about to finish the CIMA Certificate of Business Accounting, which is an entry level qualification for the CIMA professional qualifications. It's taken me just over a year and I've found it a great help for my current role (in finance) and will be starting the professional qualifications soon. I've done it all on home study with BPP

Thanks Dollybird can I ask how you rated BPP?

Why not an MBA? Will include a strong finance module and far more useful iMO, given the stuff you currently do, where you are career-wise, and your ambitions.

I recruit a lot of people and AAT is fine in itself, but I think you should go for something more impactful.

BPP, by the way, are good, worth the cost.

Thanks Cheesemaker, it's a good question. I already have two post-graduate degrees in business related subjects, and lots of experience in non-finance and accounting management, so an MBA feels too generalist. It's also £££££ and there are no decent local providers - I would have to do OU.

I met an accountant friend yesterday who recommended CIMA so I am still undecided, and my AAT pack still hasn't arrived to help.

Can't help with your decision unexpected but wanted to follow as it sounds like we have similar experience and I've been planning on studying aat as a route back into work (currently SAHM).

I think you will find AAT too easy if you have PG quals, I know I would have done.

I did this when I was considering a career change

www.open.ac.uk/courses/qualifications/s25

Gives similar exemptions to AAT and other accounting bodies qualifications and was very thorough.

Thanks Lavendersun. My Masters was through OU so I know a little of what to expect through them. I've had a look at it and it does look really relevant. I've ordered a prospectus.

Do you know whether/what CIMA exemptions this gives?

These are the exemptions as listed today:

www.open.ac.uk/business-school/sites/www.open.ac.uk.business-school/files/files/PCA-Accreditation.pdf

found from this page.

www.open.ac.uk/courses/modules/b291

I too have multiple post grad qualifications and worked in a niche area where I thought a) accountancy knowledge might be useful and b) it would be nice if I liked it enough to pursue it further as it would open up local jobs (instead of commuting to the city).

I looked at all the options, didn't want to commit to CIMA, ACCA etc, as that is a long commitment and I wasn't sure I wanted it.

I bought a used L4 AAT textbook to look through and decided it wasn't for me so I went for the OU course.

I liked the way the books were written and liked the fact that it had a written exam. I was pleased I did it.

Lavender you are a star - thank you. I think this might be the perfect solution.

Now I just have to break it to DH that he's going to lose his wife for another year to OU...

I hope you like it. I am in bed feeling ill today - very bored when I feel slightly better after the paracetamol has kicked in but not up to doing anything productive in real life!

I did manage a dog walk this morning but felt so awful that I came home and went to bed.