Re: Accountancy Qualification

Guest2013

Hi All,

I need advice on which course to do to enhance my career prospects. I have narrowed my choice down to two between Diploma in Corporate Finance and Diploma in IFRS. Please note I am already a qualified accountant, qualified in small practice. Any advice regarding which of these will help me improve my skills set and gain employment in the current market will be of great help. If you have other ideas please let me know as well.

Best regards,

Hillmanhunter1

It depends on what you want to do with it. Where do you see yourself working in, say, 5 or 10 years?

Guest2013

Hillmanhunter1 wrote: »

It depends on what you want to do with it. Where do you see yourself working in, say, 5 or 10 years?

Thanks for your reply. I am coming from a small firm background but I would like to get into big 4 or any of the other big practices. I am currently working in another small firm. Reason I want to change ship is I am looking for challenges/experience bigger firms have to offer as I am getting kind of bored in my current Job.

Hillmanhunter1

It still depends on what you want to do in the bigger firms. If you want to do audit-type work then the IFRS qualification is probably the better option, but if you want to be a corporate adviser then the Diploma in Corporate Finance is the one.

Guest2013

Hillmanhunter1 wrote: »

It still depends on what you want to do in the bigger firms. If you want to do audit-type work then the IFRS qualification is probably the better option, but if you want to be a corporate adviser then the Diploma in Corporate Finance is the one.

I would like to continue on working in audits, can you please answer this question. A colleague of mine suggested that any of the top firms don't normally consider people from small firm background, is this true? also I am no spring chicken, I came to accountancy late in my years, would my age also be an issue?

Thanks for replying.

Regards,

Hillmanhunter1

Guest2013 wrote: »

I would like to continue on working in audits, can you please answer this question. A colleague of mine suggested that any of the top firms don't normally consider people from small firm background, is this true? also I am no spring chicken, I came to accountancy late in my years, would my age also be an issue?

Thanks for replying.

Regards,

Caveat - I am a finance professional but not an accountant and I have never worked in an accountancy firm. I have worked with accountants and have recruited accountants. I have had a business relationship with all of the major firms.

So, having established that, this is my opinion. There is a dual caste structure within the accountancy profession. Firstly there is the top firms versus all the rest. Second, ACA beats ACCA, ACCA beats all the rest.

If you are "no spring chicken" (and neither am I btw), and if your qualification is ACCA, I think it is unlikely that you will ever ascend the upper slopes of the larger firms. They seem to have a strong preference for recruiting university graduates (often with family, school or business connections) who then take the ACA qualification. I'm sure there are many exceptions to this, but that's my take on it.

Why do you focus on the larger firms? Have you considered working in industry or the public sector? There are also many opportunities for accountants here?

Guest2013

Hillmanhunter1 wrote: »

Caveat - I am a finance professional but not an accountant and I have never worked in an accountancy firm. I have worked with accountants and have recruited accountants. I have had a business relationship with all of the major firms.

So, having established that, this is my opinion. There is a dual caste structure within the accountancy profession. Firstly there is the top firms versus all the rest. Second, ACA beats ACCA, ACCA beats all the rest.

If you are "no spring chicken" (and neither am I btw), and if your qualification is ACCA, I think it is unlikely that you will ever ascend the upper slopes of the larger firms. They seem to have a strong preference for recruiting university graduates (often with family, school or business connections) who then take the ACA qualification. I'm sure there are many exceptions to this, but that's my take on it.

Why do you focus on the larger firms? Have you considered working in industry or the public sector? There are also many opportunities for accountants here?

Sorry for not replying sooner I was without access to the internet over the last couple of days. I am ACA by the way.

The reason why I am looking to move into larger practice is that my background was in a mid tier firm with whom I qualified as an accountant, and from my recollection they always had challenging type of work. I have also worked in Industry as company accountant but found that to be a bit monotonous.

My age will be 37 this December but from what other people tell me that is like being over the hill as far as larger firms are concerned.

Collyjudo

I am older than you Guest2013, you really cant let that hold you back."Its never too late to be what you might have been" There are plenty of opportunities within the financial services sector. Your age wont count against you unless you feel that it reflects on your capacity to fulfill the task at hand...and really now - you are not THAT old! In fact any realistic repudiation of this veers toward murky legal issues around discrimination. That said I know how things can wash out in practice.
Might I ask what your motivation here is? More money- opportunity-challenges? Depending on your scope there are myriad of possibilities here. Your audit back ground would be greatly received in any number of financial services areas, e.g.fund accounting is thriving in Dublin - once you are in the door of any of these firms the chances for growth, advancement and specialization are abundant.
Don't heed the nay sayers - that's your first obstacle. Back yourself, then get out there. Maybe your future doesn't lie in the vaults of a big 4, but the plaque on the door doesn't matter - you do. Go get em!!

Guest2013

Collyjudo wrote: »

I am older than you Guest2013, you really cant let that hold you back."Its never too late to be what you might have been" There are plenty of opportunities within the financial services sector. Your age wont count against you unless you feel that it reflects on your capacity to fulfill the task at hand...and really now - you are not THAT old! In fact any realistic repudiation of this veers toward murky legal issues around discrimination. That said I know how things can wash out in practice.
Might I ask what your motivation here is? More money- opportunity-challenges? Depending on your scope there are myriad of possibilities here. Your audit back ground would be greatly received in any number of financial services areas, e.g.fund accounting is thriving in Dublin - once you are in the door of any of these firms the chances for growth, advancement and specialization are abundant.
Don't heed the nay sayers - that's your first obstacle. Back yourself, then get out there. Maybe your future doesn't lie in the vaults of a big 4, but the plaque on the door doesn't matter - you do. Go get em!!

Thanks for replying sorry I did not reply sooner as Just checked my email today. Thanks for the reassuring comments. No the reason I want to move into a bigger practice is that I believe I have learnt all one can in a small firm environment and do not feel challenged anymore. Money is not my motivation and I will be glad to accept a role in the bigger firms at the same level of pay even less if I am continually challenged and learning new stuff.

Collyjudo

Glad to hear back from you, I would recommend taking a look at some of the organisations that are getting into the Private Equity area of financial services. There’s been a shift away from the hedge/NAV based structures toward more PE/hybrid capital entities. It’s a growth area, while so many others are struggling - you may catch the next wave! State Street, Citco and others are all building strongly toward capturing some of this market. Good luck, keep us posted!