Accounting Experience (ACCA)

santino

Hi Guys,

Apologies if this has been discussed in another post before but I couldn’t find it in the search.

I'd like to hear people’s thoughts/experience in working in smaller accounting practices.

I'm newly qualified as of this year but i know myself that my experience gained whilst working with my employer has been basic enough. (The practice where I work btw only has 4 people)
I'm currently looking to move jobs as I feel being in a smaller practice isn't doing me any favours (and the pay rise that I've asked for hasn't been forthcoming). However, all the vacancies I see online seem to be looking for people with big 4 or medium practice training.

I do have an interest in tax, and maybe specializing in that area someday.
I've asked a recruiter about this but he says it would be easier for a practice to take on a new graduate and pay them 18k instead of paying me 30k.

Any ideas how I could make the leap into tax?
Also, how have people found the job market recently? I've applied (through the recruitment agency) for 2 jobs in the last few weeks and have heard nothing back yet.

I'd really appreciate people's thoughts because I don't know many people in the accountancy field and the more I think about it the more depressed I'm getting

Thanks

thefa

I understand you're situation and am curious whether the company you work for sponsored your ACCA exams and courses for them? I know it's another couple of years but you could try to get them to sponsor you for the AITI exams and you study to become an associate member. Don't need practical experience to do these exams and I'm sure it would help your prospects.

santino

Thanks thefa,

Yes, I started work with current employer as a graduate and was sponsored while completing ACCA exams.

I must admit, I am thinking of doing the Institute of Tax exams but would having little tax exposure at work hinder my chances of getting new employment (even as an associate of ITI)?

thefa

Sorry must correct my original post where I suggested it would only take a year, it's usually two years according to the website for what you'd be looking at.

Yes it would hinder your chances but only against a candidate with a number of years of experience(same as any other job) but in the situation of yourself versus a graduate it would improve your chances. Being even in the process of studying for the tax exams would show your interest in the area and that you're improving your knowledge in that area. As a qualified accountant, you would have a far better foundation to work off than a graduate, would be seen as less of a risk and could require less training at the start.

santino

I contacted the ITI during the week and they've been good enough to send me a copy of an old exam paper.
I'll have a look over it and see what the standard is like. I might go ahead and start the course if it's do-able.

Thanks for your advice thefa

katie_elder

Hi Santino, I sat and passed the tax exams following qualifying as an accountant with Chartered Accountants Ireland. I was working solely in accounting at that time and the only tax I was doing was income and corporation tax returns. So I wouldn't necessarily worry about not getting tax experience while you're studying. The exams are quite doable without the experience, and it will make you more employable in the long run as you will have more qualifications. Let me know if I can help any further.

tenchi-fan

You can actually get really good experience in small practices, just make sure you are constantly doing more and varied work every quarter.

Don't worry if your first 3 years are basic. I worked with financial "analysts" recently in a larger company who spend their days clicking "upload" on a computer program for 5 years, do their accounting exams and think they're the best think since sliced bread.