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Is a training contract necessary?

  • 04-08-2014 4:55am
    #1
    Young Blood
    Closed Accounts Posts: 393 ✭✭


    I'm researching into becoming an accountant and I want to know if I am correct in saying I need a training contract before I can qualify?

    If this is the case what should I do if I don't get one? I'm looking into an accounting technician course with FAS. It seems I can become an accountant after I qualify as a technician but it's a couple of years longer.

    But it seems like the only option since it's unlikely i'll get a contract with the way things are gone.

    I have a degree already if that's any help to me.

    Any advice appreciated!


Comments

  • #2
    Cookie_Monster
    Registered Users, Registered Users 2 Posts: 24,561 ✭✭✭✭Cookie_Monster


    no a training contract is not required at all. I did my entire ACCA program while working in industry at normal pay rates. Never even bothered to look at any kind of training contract when leaving college, especially the big 4, they just take the piss IMO.


  • #3
    Young Blood
    Closed Accounts Posts: 393 ✭✭Young Blood


    So how do I go about doing that?


  • #4
    Cookie_Monster
    Registered Users, Registered Users 2 Posts: 24,561 ✭✭✭✭Cookie_Monster


    Young Blood wrote: »
    So how do I go about doing that?

    get a job and study in the evenings... depends of the qualification you want but a lot of colleges tailor course for working people for ACCA or CIMA.
    if you can find an employer who is willing to put some costs towards it even better, usually you'll just have to pay it back if you leave within x years or similar.


  • #5
    deejer
    Registered Users, Registered Users 2 Posts: 712 ✭✭✭deejer


    What kind of degree do you have?

    Important to remember aswell that any accountancy qualification you go for will require a period of practical work experience signed off by a qualified accountant. This is the reasoning behind the training contracts. For an ACA qualification you are required to complete 3-3.5 years of training which you track in an online diary.

    This along with the various exams have to be completed before you qualify.


  • #6
    Prettyblack
    Registered Users, Registered Users 2 Posts: 333 ✭✭Prettyblack


    deejer wrote: »
    For an ACA qualification you are required to complete 3-3.5 years of training which you track in an online diary.

    But not necessarily on a training contract. I signed up to the Elevation programme (which is not called Elevation any more) and didn't go under a contract; am working in business and about to head into FAEs (gulp) and I won't have set foot in a practice or signed a training contract.

    Its true though, the requirement is the same, experience and exams, but I was free to do it at my own pace without a contract.


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  • #7
    Young Blood
    Closed Accounts Posts: 393 ✭✭Young Blood


    deejer wrote: »
    What kind of degree do you have?

    Important to remember aswell that any accountancy qualification you go for will require a period of practical work experience signed off by a qualified accountant. This is the reasoning behind the training contracts. For an ACA qualification you are required to complete 3-3.5 years of training which you track in an online diary.

    This along with the various exams have to be completed before you qualify.

    I took Law.


  • #8
    deejer
    Registered Users, Registered Users 2 Posts: 712 ✭✭✭deejer


    Young Blood wrote: »
    I took Law.

    Was just wondering if there would be any possibility of exemptions. You can always submit the details of your degree when making your application and they will let you know.

    I started on the elevation course and I am now in a training contract. As long as you are getting the required experience to get signed off it really doesn't matter.

    If you are looking for an accounting type role it may often look good to prospective employers to get your foot on the ladder first by starting your study either through the technician route or straight to one of the professional routes.


  • #9
    TonyStark
    Registered Users, Registered Users 2 Posts: 851 ✭✭✭TonyStark


    deejer wrote: »
    Was just wondering if there would be any possibility of exemptions. You can always submit the details of your degree when making your application and they will let you know.

    I started on the elevation course and I am now in a training contract. As long as you are getting the required experience to get signed off it really doesn't matter.

    If you are looking for an accounting type role it may often look good to prospective employers to get your foot on the ladder first by starting your study either through the technician route or straight to one of the professional routes.

    With CAI you can apply for exemptions for free. :-) just a matter of submitting the documentation.


  • #10
    Prettyblack
    Registered Users, Registered Users 2 Posts: 333 ✭✭Prettyblack


    deejer wrote: »
    If you are looking for an accounting type role it may often look good to prospective employers to get your foot on the ladder first by starting your study either through the technician route or straight to one of the professional routes.

    Good advice, its always better to be on the way so to speak rather than just "thinking about it".


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