Accounting Choice PLEASE HELP!!

BreakingBanks

Hey guys I'm new to this and have recently been offered a position with a CPA firm in Cork, they have offered to pay for any accounting qualification I want as they are registered to train all of the practise based ones. ACA/ACCA/CPA and because I have a choice I'm tearing my hair out. I would go with CPA if I was guaranteed to be kept on but because of the climate I think the other two offer more job security if I was let go. Has anyone a similar experience, best job prospects ? At the end of the day we all only want to have is job security and I need some advice ?

BreakingBanks

Basically what would be great is a what would you personally pick and why ?

Jim2007

BreakingBanks wrote: »

At the end of the day we all only want to have is job security and I need some advice ?

Big assumption, I'm 50+ and job security has still not hit my radar - my criteria remains the same "find interesting things to do". In a way it is rather depressing to think of someone so young worrying about job security....

That said, I would rule out CPA, because it is not well know outside Ireland and if you want to travel, you are going to always be trying to explain that CPA (Ireland) is just as good as the others...

Other than that the others are much of a muchness and especially after about 10 of experience it really does not matter at all. As regards getting the qualification, I'd say that getting the ACCA is a bit more flexible but still just as challenging to get.

Prettyblack

ACA is flexible now too with the Elevation programme, you don't need a contract nor do you need a job to start - you can just start it yourself. Means you can apply for trainee roles in industry as well, should you leave the firm before you qualify. something like 98% percent of ACAs are employed, I saw that on their website, that's pretty impressive!

BreakingBanks

I know thanks but just from experience would an employer industry or otherwise say hire a person if the only difference was ACA/ACCA or would one command a lower salary ?

BreakingBanks

Jim2007"Big assumption, I'm 50+ and job security has still not hit my radar "
I was skitting reading this ha shows that I'm a huge worrier.:D

jus_tin4

Prettyblack wrote: »

ACA is flexible now too with the Elevation programme, you don't need a contract nor do you need a job to start - you can just start it yourself. Means you can apply for trainee roles in industry as well, should you leave the firm before you qualify. something like 98% percent of ACAs are employed, I saw that on their website, that's pretty impressive!

98%? I'm part of that 2% unfortunately and doing cap 2 tax and audit through elevation ha!

BreakingBanks

Ya it's just worse when you have a choice, I am leaning towards ACCA just don't want to miss out on promotion opportunities to people that would only get them because of being ACA ... is that a reality or just bs ?

Jim2007

BreakingBanks wrote: »

I know thanks but just from experience would an employer industry or otherwise say hire a person if the only difference was ACA/ACCA or would one command a lower salary ?

Salary will really depend on experience and ability rather that qualification in industry.

Look the thing is nobody can tell you what the future holds for you, but if you are good enough to qualify as a professional accountant, I'm sure you will do just fine! Because if nothing else it is a good indicator for any employer of your abilities. And employers are always in need of smart people.

mr_edge_to_you

BreakingBanks wrote: »

I know thanks but just from experience would an employer industry or otherwise say hire a person if the only difference was ACA/ACCA or would one command a lower salary ?

in industry the salaries are relatively similar regardless of the route you are taking.

the most significant salary difference is when comparing trainee roles between industry and practice. you will earn significantly more in industry but quite likely that you won't get the same level of support with your exams.

i'm a cima accountant so industry was the only option for me. in terms of study leave i got one day per exam plus the day of the exam. i also had to pay for my own classes but when i passed an exam i was entitled to claim it all back. it does put a strain on personal finances.

regardless of which route you go, all these professional exams are a big step up and it can be tough when studying and working full time.

BreakingBanks

Is being ACA/ACCA/CIMA much the same when your qualified ? I like how ACCA translates to management and audit.

mr_edge_to_you

BreakingBanks wrote: »

Is being ACA/ACCA/CIMA much the same when your qualified ? I like how ACCA translates to management and audit.

it depends on the industry and the company really. you see some roles which specify certain qualifications and sometimes big 4 experience. if there is a lot of tax work involved obviously ACA is the preferred choice. equally there is other roles that specify CIMA or ACCA where the candidates have more rounded commercial experience.

i certainly think ACCA gives you the most rounded accountancy qualification. carries a lot of weight in practice and industry and is a global qualification.

i had no interest whatsoever in practice so Cima was the natural choice for me.

Jim2007

BreakingBanks wrote: »

Is being ACA/ACCA/CIMA much the same when your qualified ? I like how ACCA translates to management and audit.

Your accounting qualification is a starting point, not an end point - it will open the door to opportunity, but your abilities, your experiences, the further courses you take and so on will determine your career. I would say that 10 years in, the only thing that will matter is that you are qualified!

The other thing to keep in mind is that outside of practice, people with accounting qualifications do all sorts of roles from HR to Operations and everything in between. In fact in many multinationals, the only real criteria for a business career is an advanced degree => you're smart. In my own case I've not held a real accounting position in well over 20 years! (Like I already said, my objective is to find interesting things to do and that often does not involve an accounting role)

Jim2007

OP, to broaden your thinking on career and the future of work have a read of The Empty Raincoat. Although it was written back in 1994, the ideas are more relevant today than then as a result of globalization.l