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Whats the best route to becoming a qualified accountant after Acc. Technician course?

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  • 11-01-2011 3:46am
    #1
    06MO
    Closed Accounts Posts: 6 ✭


    Hello everyone, I'm currently in first year of the Accounting Technicians Ireland course. I understand that if I pass all exams in the second year of the course I will become a qualified accounting technician. I believe this is quite a lowly paid position in an accountancy firm. Is this qualification any use to me outside of Ireland, or even in Ireland for finding work in an accountancy firm or a normal business organisation?

    My ultimate goal is to become a fully qualified accountant. What is the best/most direct route after completing the two year ATI course and how many years should it take?
    From what I have read, after finishing the ATI course I can either enter second year of a full-time four year accountancy degree in IT Tallaght or obtain an accountancy degree at night by entering 3rd year of a 4 year accountancy degree course somewhere in Dublin.
    Is it even necessary to get an accountancy degree or can I enter a firm as an accounting technician and do the accountancy exams while working in the firm? I believe that upon successful completion of the ATI course I will be exempt from 3 exams of 9. I don't really understand the bodies like ACCA or ACA and their relevance to becoming a qualified accountant. Can someone please explain this to me.

    I suppose my end goal is to become a qualified accountant in the shortest possible time so I have the option to emigrate to Australia, England or the USA as soon as I possibly can with a accountancy qualification that lets me work there.


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    #2
    EveT
    Registered Users Posts: 336 ✭✭EveT


    Hi there,

    well done an accounting degree after technician course doesnt make much sense Id think. I dont know about ACCA but I can tell you about ACA,

    having completed the accounting technican course you would need to enter into a 4 year training contract with a firm/company. A lot of places take accounting technicians on. You need to do 3 sets of exams - 2 CAP 1s (you get an exemption from 3 I think-tax financial accounting and law) then 4 CAPs then your FAEs. So that is probably 3 years of exams. You can split the CAP 2s into 2 if you like, and do 2 in year 2 and 2 in year 3.
    Then you will be qualified. You need to keep a training diary for the 4 years.

    If you go back to do a degree, you wil have 3 years of a degree, probably exempt from CAP 1s (only really gaining 2 new exemptions here with an extra 3 years work!) then have to do CAP 2 and FAE in a 3 year contract, so it is definitely quicker to go straight to the professional exams, as I said I do not know about ACCA,

    Hope that helps!


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    #3
    djk1000
    Closed Accounts Posts: 899 ✭✭✭djk1000


    One thing to be aware of, some countries such as the USA are very focussed on university education, being a graduate is a prerequisite to take the US CPA exams in some states, in others you need a masters. For Ireland, UK and many other countries, the fact that you're qualified is good enough.

    ACCA have a degree that you can do while you complete their exams, I believe that the exemptions awarded for ACCA exams are quite good for accounting technicians. Work experience gained as a technician can be used towards the ACCA's 3 year work experience requirement.

    As for job prospects, it's tough everywhere right now, but a technician qualification is well regarded. I'm not sure if you can call yourself a qualified technician after the two years, unless you have gained relevant work experience.

    If you are keen on working abroad, look at the accounting bodies in that country and see if they have any mutual recognition agreements with ACCA ICAI CPA CIMA, that could be a factor in who you decide to qualify with. For instance, as a member of ICAI, a move to the US or Canada can be easier as ICAI qualified accountants can transfer their qualifications there after a crossover exam.

    There is a good thread in this forum about the differences between the different bodies.

    My suggestion would be to look at where you want to be in a few years, then work back to the accounting body that is best suited to getting you there.


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    #4
    06MO
    Closed Accounts Posts: 6 ✭06MO


    Thanks Eve and djk1000.

    So it seems that spending a further 2 -3 years studying for an accountancy degree after the ATI course isn't really beneficial as it just adds on more years. It sounds like the best option is to get into an accountancy firm after I finish the ATI course and study for the exams while I work. How hard do you think it will be to get taken on by a firm after I finish the ATI course?

    djk1000, I have a business degree also, I take it that this would allow me to sit the accountancy exams in the US if I end up there in a few years time. If I am to be honest I don't really know where I want to work. I'd love to go travelling for a few years and be able to work wherever I decide to settle down.


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    #5
    ari101
    Registered Users Posts: 2,835 ✭✭✭ari101


    A good degree (1.1 or 2.1) would make you eligible for graduate roles which is the predominant type of practice job available at the moment, low paid starting but usually with study support. A lot of people find it soul destroying but you are in and out in 3-4 years.

    Also don't forget about industry. Jobs are thin on the ground at the moment but looking at getting accounts assistant jobs can be a great stepping stone towards getting both non-graduate and graduate practice jobs. (Accounts Payable/Receivable/General Ledger Clerks, etc.)

    If you cant get into practice you can still qualify through Industry. This experience can count towards an ACCA qualification and there is the Elevation Programme too (CAI, I know nothing about it myself). These jobs usually pay better initally than a practice trainee role. All you need is someone (qualified accountant) to sign off your annual return for experience with ACCA and you can work away at exams - you may find an employer willing to pay for exams and courses etc, or could do some of the theory ones for home study, etc.

    Look at exemptions/requirements for each qualification, where you would like to go in the future, what type of accountant you want to be, etc. in comparison to what each qualification offers - as said before there is a (are many) good detailed thread(s) in the forum already.


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    #6
    lilgrasshopper
    Closed Accounts Posts: 6 ✭lilgrasshopper


    Hi 06MO,

    I am some what in the same boat as you. I am a certified accounting Technician, newly qualified through IT TALLAGHT also. I decided to do the Degree course in IT TALLAGHT also as unlike you i do not already have a degree so for travelling purposes i wanted one under my belt.

    However there are some benefits to you of doing the degree course.

    1. you will go straight into yr 3 of the degree course upon completion of IATI
    2. you will be exempt from 8 of the 14 ACCA exams. IATI only exempts you from 4. So this is a further exemtion of 4 exmas in one year.


    I decided to just do year 3 (ordinary degree as opose to yr4 honours degree) As by doing the 4th yr i would only be exempt from 1 more exam (9 out of 14) I figure in this extra year i could sit around 3 ACCA exams.

    So for me this seemed like the fastes option to becoming qualified on paper. I understand you will need relevant work experience also.

    Hope this helps ;)


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    #7
    stevief01
    Registered Users Posts: 65 ✭✭stevief01


    lilgrasshopper wrote: »
    Hi 06MO,

    I am some what in the same boat as you. I am a certified accounting Technician, newly qualified through IT TALLAGHT also. I decided to do the Degree course in IT TALLAGHT also as unlike you i do not already have a degree so for travelling purposes i wanted one under my belt.

    However there are some benefits to you of doing the degree course.

    1. you will go straight into yr 3 of the degree course upon completion of IATI
    2. you will be exempt from 8 of the 14 ACCA exams. IATI only exempts you from 4. So this is a further exemtion of 4 exmas in one year.


    I decided to just do year 3 (ordinary degree as opose to yr4 honours degree) As by doing the 4th yr i would only be exempt from 1 more exam (9 out of 14) I figure in this extra year i could sit around 3 ACCA exams.

    So for me this seemed like the fastes option to becoming qualified on paper. I understand you will need relevant work experience also.

    Hope this helps ;)[/quote

    Hi how's things ?...would you still recommend this route... How are you finding ur career now ?😀


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    #8
    stevief01
    Registered Users Posts: 65 ✭✭stevief01


    stevief01 wrote: »
    lilgrasshopper wrote: »
    Hi 06MO,

    I am some what in the same boat as you. I am a certified accounting Technician, newly qualified through IT TALLAGHT also. I decided to do the Degree course in IT TALLAGHT also as unlike you i do not already have a degree so for travelling purposes i wanted one under my belt.

    However there are some benefits to you of doing the degree course.

    1. you will go straight into yr 3 of the degree course upon completion of IATI
    2. you will be exempt from 8 of the 14 ACCA exams. IATI only exempts you from 4. So this is a further exemtion of 4 exmas in one year.


    I decided to just do year 3 (ordinary degree as opose to yr4 honours degree) As by doing the 4th yr i would only be exempt from 1 more exam (9 out of 14) I figure in this extra year i could sit around 3 ACCA exams.

    So for me this seemed like the fastes option to becoming qualified on paper. I understand you will need relevant work experience also.

    Hope this helps ;)[/quote

    Hi how's things ?...would you still recommend this route... How are you finding ur career now ?😀

    I hope to do this too


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    #9
    bulmersgal
    Registered Users Posts: 1,174 ✭✭✭bulmersgal


    lilgrasshopper wrote: »
    Hi 06MO,

    I am some what in the same boat as you. I am a certified accounting Technician, newly qualified through IT TALLAGHT also. I decided to do the Degree course in IT TALLAGHT also as unlike you i do not already have a degree so for travelling purposes i wanted one under my belt.

    However there are some benefits to you of doing the degree course.

    1. you will go straight into yr 3 of the degree course upon completion of IATI
    2. you will be exempt from 8 of the 14 ACCA exams. IATI only exempts you from 4. So this is a further exemtion of 4 exmas in one year.


    I decided to just do year 3 (ordinary degree as opose to yr4 honours degree) As by doing the 4th yr i would only be exempt from 1 more exam (9 out of 14) I figure in this extra year i could sit around 3 ACCA exams.

    So for me this seemed like the fastes option to becoming qualified on paper. I understand you will need relevant work experience also.

    Hope this helps ;)

    This is what I did, I got a first in an ordinary degree now and I got a further 3 exemptions in one year. I'm sitting the other 2 exams with acca now so saving 6 months rather than do the honours degree.

    I also got a new job as a trainee accountant starting in the new year.


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    #10
    starbear
    Registered Users Posts: 9 ✭starbear


    Hi how are things going for you posters, hope your progression is going well?

    I am in my first year of ATI. In order to qualify for the third year of the ordinary degree, do you need to have the full 2 years experience plus exams or are the exams good enough.

    What is the timetable like for this year? Is it full on?

    I already have a degree in engineering and I just want to get this qualification as fast as I can iykwim!

    TIA


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