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Is it possible to retrain as an accountant at my age?

25 replies

micegg · 31/01/2008 17:50

I have always been interested in business and finanace however my career so far has taken me in a different direction. I have a degree in a science subject and have taken a career in that field. I am 35, have a 2 year old and another due in 9 weeks. I am seriously considering not returning to my job for a whole number of reasons including low pay, poor work prospects and travel. I would like to retain in something that addresses all of these issues and wandered if accountancy may be it. Have any of you trained as an accountant at a later age and if so how did you do it?

OP posts:
Niecie · 01/02/2008 01:35

It is certainly a job you can do at a later age. There isn't really any reason why you can't do it.

That said it would probably be quite hard to get a training contract with a firm of chartered accountants as they tend to take new graduates but lots of people train in business and commerce instead and do ACCA, CIMA or AAT.

I was fresh out of university when I started training so I can't comment on how hard it is but I think if you do any of the qualifications except ACA you can pace yourself a bit and do a couple of papers at a sitting which might be important whilst the children are young.

I have known people start training in their 30's too, having had a career swap and I don't honestly think it makes that much difference.

Science graduates traditionally do very well in training. Not sure why as the maths involved is not difficult but maybe it is about the kind of brain you have.

I would say go for it. I didn't like it, I will be honest but DH is an ACCA and loves it and has never wanted to do anything else. Huge scope for being self employed, employed, part time, full-time or contract. Whatever fits in with your life.

micegg · 03/02/2008 10:44

Thanks very much.

OP posts:
runnyhabbit · 03/02/2008 11:00

micegg

Just wanted to say that I'm going to do this!
I'm 32, have 2 ds (2.9yrs and 10mths) Have signed up with an agency do try and get some more accountancy type experience, and they know that I want to become qualified. I'm going to study part time.

The employment agency were very positive/encouraging about retraining as I had valuable work experience that would help me.

Take the plunge with me

micegg · 03/02/2008 14:57

oooh how exciting! The only problem is I have absolutely no experience. Which qualificiation are you studying for and how are you going to do it? I am a bit confused between ACA, ACCA and CIMA - not even sure if I have that right!

OP posts:
pickie · 03/02/2008 15:08

your just over half the pensionable age and by the time we are 65 it is probably 70 anyway.

I'd say go for it if that is what you want!

Used to work in HR and always wound me up if mother who'd return to work after being a SAHM said: ohh I could never do that as have been out of it for so long and am too old.....

micegg · 03/02/2008 15:19

What does anyone think of me doing some sort of book keeping course to begin with? Just thought this is a good way in.

OP posts:
Niecie · 03/02/2008 17:43

Book keeping course would be a great idea. Any of the main qualifications would start off with one of those. You can even do it by distance learning if you want get started straight away, without work experience.

You were saying you weren't sure about the differences between all the qualifications.

ACA is chartered. Usually (but not always nowadays) you have to have a train in public practice, doing audits, tax, financial reporting and management reporting. You have to have a training contract with gives work experience for a minimum of 3 years and a maximum of 5. The structure of the exams has changed since I did them so you are better off looking at their website but I think there are 3 sets of exams to do before qualification. It used to be 'the' qualification and everything else was a bit second best but that isn't the case any longer. I think partly that was because you had to have gone to university before you could get on a training course so entry requirements were high.

ACCA is certified. Pretty much the same as chartered in scope but most people trained in business and commerce rather than public practice. Not thought to be so good because you could do it without a degree and you didn't have to finish within 5 years that the ACA had to. There is a bit of snobbery there though.

I know people who have been studying ACCA for literally decades (although I think they now limit you to 10 years max) but you can't do that with ACA, you get time barred which means no messing about and you have to study for 5 or 6 exams in one sitting. But, as I say, things have changed now and it is considered a good all round qualification. DH is certified and it has been good for him.

CIMA are management accountants. They do some statutory accounts and auditing whilst studying but their main focus is, as their name suggests, management accounting, more to do with the day to day running of a finance department. There exam structure was also not so strict as ACA.

Traditionally, most FDs and financial controllers are ACCAs or ACAs because their qualifications are more general and a better business qualification. However, there seems to be a levelling out of things in recent years and there isn't very much difference between them.

Finally, there is AAT (accounting technicians) which you could use as a stepping stone. It easier than the others and not such a broad training. The relationship between AAT and the other qualifications is kind of like the relationship of a legal executive to a lawyer or a nurse to a doctor. You know a huge amount but not as much as the full professional. Lots of people come straight from school and do AAT and then decide to go further and do one of the other 3 qualifications. A possible route into the profession but it would extend your training for a number of years. However, AAT does give you exemptions from some of the ACCA, ACA and CIMA exams so not as many years as you may think.

I hope that helps a bit. If I were you (I am no expert mind you), I think I would do the bookkeeping course whilst on maternity leave and then when you are ready to go back to work, sign up with as many agencies as possible looking for work. There are loads of accountancy recruitment agents so one of them ought to be able to find you something.

Good luck with whatever you decide to do and good luck with your new baby too.

CarGirl · 03/02/2008 17:47

I was half way through ACCA (still am I suppose) about 5 years ago, their first stage is very easy so good even if you have very little actual experience, the second stage is okay the last paper of the 2nd stage and the final stage is really really hard but your children are likely to be older then etc. Every time they change the syllabus they restart the time you have to finish which is strange but beneficial to people like me who've taken a break to bring up several small people!

DarthVader · 03/02/2008 17:53

People do combine work, motherhood AND studying, but this is really tough going, don't underestimate how hard it will be. It is hard enough working and studying when you don't have kids to look after imo.

So, go into it with your eyes open! There is nothing to stop you if you are really dedicated to this as a new career.

Niecie · 03/02/2008 18:06

Darthvader is absolutely right - you have to really want to do it and be dedicated even without children. Not for the faint hearted but very worthwhile if you like it.

Make sure, whatever job you take, you negotiate as much study leave as possible - some companies are more generous than others.

micegg · 03/02/2008 18:30

Thanks everyone. Special thanks goes to neicie for taking the time out to explain all the qualifications to me. I am going to start with the book keeping course to give me a taster and some extra qualifiactions. I am going to search through old messages to see which qualification is best as there appear to be loads, especially as distance learning. If any of you have your own suggestions I would be grateful for your advice.

How far I go will depend really. I am not looking for a big hot shot career in the city. I basically want to improve my prospects from where I am now for a whole load of reasons. Having always taken jobs that help others but also pay less I am starting to see things a bit differently. I am happy to retrain and spend the time but have to be realistic about balancing family commitments. I would like to earn more money than I do now, work closer to home and have more choice and control about my future career. At the present I work in a highly speicalised scientific field which limits where I can work, how much I earn and how far up the (very short) career ladder I can go. I am quite ambitious but not in the sense that I want to be the next MD at IBM.

OP posts:
CarGirl · 03/02/2008 18:54

just be aware that along with accountancy in many areas goes unpaid overtime at month,quarter and year end!!!! One of the reasons why I've considered never finishing my exams they are very very hard work and I'm not sure I would want the job that came with being qualified (well one that earned me lots of dosh)

MadamePlatypus · 03/02/2008 19:26

I did CIMA because I already had exemptions through being a Chartered Secretary. I didn't really consider ACA because I wanted to continue to work in industry, I think they would have been suspicious of my arts background, they didn't offer exemptions, I didn't want to do audit and... back in 1998 their website wasn't very impressive

To start training with CIMA, all you need to do is sign up for a course, however to qualify, you will need to prove you have management accounting experience. You can study by doing evening classes or by distance learning. I would estimate that this would mean a couple of evenings a week while studying plus a few full weekends of revision at exam time.

Doing AAT first would definitely be a good idea as I don't think it would take you any longer, and would mean you had a useful qualification more quickly, which I think would give you more options to work flexibly round children.

Having a science background would be an advantage if you wanted to work in that industry. Knowing how a product works, understanding the language and being able to communicate with other departments is invaluable - I certainly wouldn't burn your boats with your current company if they can help you move sideways into a different department.

ChasingSquirrels · 03/02/2008 19:47

couple of old threads on this topic 1 and 2.

DarthVader · 03/02/2008 21:07

CarGirl is right - this is often not a job that gives you a particularly good balance with family life, particularly when you are still studying.

CeciC · 03/02/2008 23:22

Hi micegg,
I did study AAt and I am taking ACCA qualifications. It is very hard working, looking after a family and studying, or at least I am finding it very hard, but I have an added problem, as I am spanish living/working and studying in the UK. I work f/time and have two DDs, and a very supportive husband (time barred in ACA).
I think that working in accounts, is very easy that you can work from home, I do. But I am studying for ACCa because I like accounts, but I am taking my exams very relaxed. I sit one exam a sitting, and some times I have to re-sit them.
Good luck with what you decide to do!

bigwombat · 06/02/2008 11:59

I work part-time as financial controller for a medium-sized business (I trained as a chartered in the early 90's). I have managed to get a part-time contract, but I have to say it is not the most child-friendly of professions ime. There is a long hours culture and there are lots of time deadlines, eg for VAT returns, payroll matters, month end and year end schedules etc etc. These deadlines are not flexible, so if you have issues with childcare, ill children etc, it can be very challenging.

I think the potentials are there for more flexible working being self-employed, but for that, you do need a certain amount of experience in order to set up validly on your own.

I suppose I am rather jaded of it after all this time but I wish you luck! I have a disabled child so find the juggling of everything quite tough.

YAP · 06/02/2008 14:14

I am an accountant (ACA) and began training at the age of 30 with one of the large firms of accountants. There were several trainees in late twenties/thirties but none had kids, including me at the time. There is usually a culture of long hours and then you have to study as well. The pay is good when you qualify but most firms expect your life in return - family and home have to take second place. I know several women working "part-time" doing 40 hours a week. But that is part-time compared to the 60 hours most of their colleagues will be doing.

jura · 06/02/2008 14:19

This reply has been deleted

Message withdrawn at poster's request.

micegg · 07/02/2008 15:25

Thanks for the recent messages. Its great to get a view from the other side. Although I moan about my job (alot!) what it does have is flexibility and long hours are not expected in any way. I work 3 days a week and rarely have to work more. I think I probably need to count my chickens a bit more. I suppose its frustartion moving in as n my 20s I thought I'd have it all but since DD was born my career has fallen by the wayside. In fact I may start another thread about this ...............

OP posts:
Mog · 07/02/2008 16:29

There are other options in accountancy if you don't want the long hours culture e.g. working for a public body like a local authority, charity or NHS.
I'm a career changer to accountancy from science and I'm older than you. I began studying AAT on my own and much to my surprise got a part-time job as finance assistant with a charity. I think there are a lot of transferable skills e.g. analysing data, logical mind, like investigating things/solving problems. I would have hated it in my 20's, but with 3 small children I love sitting at a desk and having a very orderly job (leaving the house in chaos behind me!!).
I'm looking at this from a long term view - think it will be a good career to continue with post retirement and there are always part-time opportunities. Like you, felt the only way to progress in science career was to work full time.
I would certainly say accountanct has surprised me by not being the stereotypical dull job I had expected. Maybe some long serving accountants think otherwise. It would be good to hear their views too.

bigwombat · 07/02/2008 18:17

I don't think it is generally stereotypically dull working in accounts, however there are certain repetitive features to the work. It depends at what level you are working really. The higher you go, the more variety and the more likely you are going to get involved in financial decision-making, rather than data entry and processing. With that variety, there tends to be more responsibility and longer hours, often associated with managing staff.

petitfilous · 02/04/2008 09:26

If anyone's still watching this thread... can i ask whether anyone can recommend a distance learning bookkeeping course supplier? There seem be hundreds of companies and i have no idea who's any good (or not..)

McDreamy · 02/04/2008 09:31

What an interesting thread. I am considering a career change (I am a nurse) and wondered about accountancy. Really interesting to here your comments. I would really like to work in the tax office - I find it really fascinating....am I really sad?

Julezboo · 11/04/2008 17:01

thanks for bringing this thread up. I started the AAT back before I had my DC's I was young, stupid and didnt finish it.

Now I am hoping to go back to work in the next few years and petrified no one will employ someone whos been out of work for 6 yrs!

I have just applied to do a book keeping course at my local college and a computerised accounts course (sage?)

I had a quick nosey on the job centre website and for most accounts assistant jobs thats what they are asking for. Although I did Sage Line 50 back then, i wouldn't have a clue where to start right now. Although I think once I sat down at a computer with it it may come ack but the course wouldnt hurt. I am going to do both of them I think with a view to go on and get a career out of it

My only career at the moment is being a mum, although very rewarding pay isnt so good

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