Accounting is generally misunderstood by those outside the business as a boring profession, but it can be one of the most rewarding, whether you work in the private or public sector.
While many consumers now use online accounting services,
Accountants Mayfair are still in demand because they can provide organizations with mathematical and financial skills.Â
Whether you wish to start a general accounting practice or specialize in tax, auditing, or another field of accounting, some companies will be ready to acquire your services. To become an accountant, follow the steps listed below.
Examine the appropriate accounting qualifications.
The AAT is often the entry-level qualification for accountants, but to become a chartered accountant, you’ll need to advance to the ACCA, ACA, or CIMA certifications.Â
Those interested in accounting professions have access to a wide range of finance qualifications, which can be complicated when looking for work.
The most common accountant qualifications are listed below:
- AAT (Association of Accounting Technicians) accounting courses combine industry knowledge with practical work skills and are divided into four levels (Levels 2-4).
- There are two levels of certification offered by the Association of Chartered Certified Accountants (ACCA): Fundamentals and Professionals. From corporate and commercial law to audit and assurance, the programmes cover a wide range of topics.
- The AIA (Association of International Accountants) professional qualification – you can become a qualified accountant and a member of this global organisation by completing their highest award.
- The chartered accountant designation of the ICAEW (Institute of Chartered Accountants in England and Wales) – generally known as the ACA – is earned after completing 450 days of practical work experience and 15 exam modules.
- The globally recognised CGMA (Chartered Global Management Accountant) is overseen by the CIMA (Chartered Institute of Management Accountants) business finance award, which requires you to have already earned the postgraduate-level CIMA Certificate in Business Accounting (Cert. BA).
Many accounting businesses accept certifications from any board, but if you have a certain career path in mind, it’s important to research the desired accounting qualifications for that specialty.
Select an accounting specialization.
Management accounting and financial accounting are the two main types of accounting careers. Specialist professions such as budget and financial analysis, as well as working as a controller, are available within these divisions.
Management accounting differs from financial accounting in that the former offers information to individuals within a company, whereas financial accounting provides information to those outside of it, such as shareholders.
Management accounting, unlike financial accounting, is not legally mandated and only applies to specific goods, whereas financial accounting applies to the entire company. The majority of accounting graduates will pursue a career in financial accounting, which can lead to a range of opportunities, including:
- audit
- Insolvency and business recovery
- corporate finance
- forensic accounting
- taxation
Graduates can choose whether to work in the public or private sector for each accounting specialization.
Develop relevant financial experience.
You can get into the sector by doing a work placement, volunteering, or working part-time. Even a day of work monitoring can offer you an idea of the types of accounting tasks you’ll be doing. Some accounting businesses now provide virtual work experience as an alternative to working in an office. Check the websites of companies you’re interested in working for to see if they have any current openings.
Consider extracurricular activities such as volunteering as the treasurer for a club or society, or search for part-time employment that will help you develop abilities in this area if you’re a student at university.
You may be able to work on real projects and manage your workload as you learn key accounting skills. Work experience participants typically receive training, and you’ll have the opportunities to connect with industry professionals who can help you develop your skills.
Because many businesses would only support a trainee accountant studying for their accounting qualifications if they have prior relevant job experience, this will be a good addition to your CV and will assist you in your journey to become a qualified accountant.
Wrap up
There are many paths you can take, from getting a specialization to starting your firm and beyond. The path to becoming an accountant is difficult, requiring a lot of effort and research. Nonetheless, the return includes above-average pay, a desirable career, and growth opportunities.
