Accountant Updating after career break

eded1

Hi All, Looking for some advice please.

I took an extended career break and have not worked for over 3.5 years. I am CIMA qualified and am looking at Financial Accounting roles (general industry) - one of the agencys told me it will be very difficult as its been a while since I worked in this area ( six years plus) So Im looking at courses to bring my Financial Accounting knowledge right up to date.
If anyone can recommend any courses that would be great. If there are any accountants out there who have re-entered the work place I would love to know how you got on. Im looking forward to going back but have 3 small children so it will be a bit mad as well. I don't want to be too long out of the workforce and my savings are now gone, so needs must! Thanks

Immy

How about a DipIFRS or one of the management Dips. ACCA offer a few.

eded1

thanks IMMY that's what I was thinking. I am ordering the study material from BPP and will apply now to do it. im hoping to do this on my own as I cannot afford the courses currently offered. I have to start from scratch more or less so not sure how I will get on but need to do something. Thanks again - now to find someone who has successfully completed without attending any classes!

Immy

I have.

Had BBP material, went through each chapter making notes and then did every question in the revision kit and the last few years exam papers.

I also have young children, so I got a babysitter for 3 hours for a couple of days a week for the weeks leading up to the exams. I felt with this 3 hours I did so much, I find it very hard to work in the evening when they go to bed.

bbari

May be I'm optimistic but if you go thru Balance Sheet, P&L, management accounts pack (not sure if this is what you have done in your last job) and re-visit excel spreadsheet etc, you will be ok ? ACCA exam P2 is relevant to the management accounts but tbh I didn't come across much of the P2 stuff in my job. This is my opinion but you learn more when you not studying for exams but studying from learning point of view!

eded1

Thanks Both!

Great to hear that IMMY. I was in a very specialised area of Accounting for 10 years plus so I need to do something and IFRS is something I think I would like to move into!
Will order the books later, need to get head down as hoping to be back in work within the next six months. Would you be interested in giving me a few hours later in the year and if yes what do you charge .

bbari

P2 book of ACCA will give you a good knowledge of all the IFRS.

eded1

Thanks bbari, would you believe I got it about a month ago - I will need all the material I can get my hands on. Would u know where I would get a list of all stds UK GAAP, US GAAP & IFRS

bbari

When I passed my P2 in 2009, it was FRS as opposed to IFRS.

I did a quick search and you can find all the IFRS on their website www#ifrs#org (# = . ) I can't post the link as I am a new user. Just spoke to a friend to ask if he can give the books away but he wouldn't till he get results - fair enough

DoraExplora

Hi ,
Also thinking of doing the DIPIFR, I rang round the colleges and they've cancelled their tuition due to lack of interest. Did you purchase textbooks and online content from BPP? There's standards info on IASPLUS.com, but would rather more direction on relevant study material. Are you doing online courses...sorry for all the questions!!

Immy

I got BPP textbook and revision fit directly from BPP and just exam papers.

DoraExplora

I did the Diploma in IFRS, there was only 7 classes in the year so you're not missing much. I didn't find it that useful as I didn't work with a multinational after but its a handy course for the CV.
I also did the Diploma in Tax a new course offered by the Institute of Tax, its a practical course I enjoyed it more and found it more useful. They live feed the classes
Management Accountant btw

ClaptonBay

Hi DoraExplorer
How did you find the assignments for the diploma in tax? im signing up for it this month , how much work is involved with the assignments just to have an idea? Think the course sounds interesting and prefer to do this rather than the full tax course..

DoraExplora

Assignments are pretty practical. It was the 1st year last year so had no idea but there'll be a previous yea's Exam questions that you'll be able to see the format & sample answer if you ask.

Assignments ..eg. write a letter of Advice to MR X & Y advising of CGT/IT/CT liability and any reliefs that may be available.

I'd say the Chartered Tax are on another level! I would have done some of these except you need to do all of them to get any qualification.

ClaptonBay

Anyone else here currently doing the diploma in tax with the ITI? Doing the assignment now and could do with discussing some of the reliefs involved if anyone was willing?