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Can Law degrees get you into Accountancy

  • 21-08-2014 11:57pm
    #1
    DS86
    Closed Accounts Posts: 79 ✭✭


    I'm currently hoping to study Law for the next 1-2 years as I have an interest in the area. However, I realise that jobs are scarce within the field of Law in comparison to Accountancy. From my understanding of Accounting however is that it involves a lot of Law, so would a Law Degree help one to get into an Accounting job? And if so, how difficult would it be in comparison to somebody who had majored in Accounting?


Comments

  • #2
    Tarzana
    Closed Accounts Posts: 2,062 ✭✭✭Tarzana


    Yes! Lots of people with law degrees going into accountancy, firms seems to like law grads.


  • #3
    DS86
    Closed Accounts Posts: 79 ✭✭DS86


    Tarzana wrote: »
    Yes! Lots of people with law degrees going into accountancy, firms seems to like law grads.

    What areas of Law (aka. modules) are generally recommended, or can having a degree in law in any area be enough, even if they are in areas irrelevant to accountancy?


  • #4
    Tarzana
    Closed Accounts Posts: 2,062 ✭✭✭Tarzana


    DS86 wrote: »
    What areas of Law (aka. modules) are generally recommended, or can having a degree in law in any area be enough, even if they are in areas irrelevant to accountancy?

    Well, off the top of my head, I know someone going into tax who did a corporate law degree and a trainee accountant who did civil law. I think especially for tax, law is looked upon favourably, as the tax advisor exams are very law-based.


  • #5
    DS86
    Closed Accounts Posts: 79 ✭✭DS86


    Tarzana wrote: »
    Well, off the top of my head, I know someone going into tax who did a corporate law degree and a trainee accountant who did civil law. I think especially for tax, law is looked upon favourably, as the tax advisor exams are very law-based.

    So would modules involving areas of the law such as criminal law, jurisprudence, land law, evidence not be of much use? Or is even the fact of having a Law degree regardless of the content still enough to get into an Accounting job?

    I do intend to study Contract Law and the Law of Torts if that makes much of a difference?


  • #6
    Tarzana
    Closed Accounts Posts: 2,062 ✭✭✭Tarzana


    I honestly have no idea, as I didn't study law myself. I'd say any law degree would be grand. Most important thing is to make you have good grades that are consistent.


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  • #7
    GR3YFOXXX
    Registered Users, Registered Users 2 Posts: 54 ✭✭GR3YFOXXX


    Law degree generally is pretty desirable.


  • #8
    GAC999
    Registered Users, Registered Users 2 Posts: 26 ✭GAC999


    As previous posters have said accounting firms particularly big 4 like people who have law background/degree. I don't really know about particular modules but what they seem to look at is consistency with your grades.

    If you we're worried about exams etc, I know a couple of people who have done postgrad diplomas in accounting before starting their jobs.


  • #9
    Arbiter of Good Taste
    Registered Users, Registered Users 2 Posts: 2,200 ✭✭✭Arbiter of Good Taste


    The Big 4 love law grads in their tax departments.

    If this is what you want to do, I would go with Tax Law, Company Law, possibly Commercial Law, Contract Law.

    If you go with tax in a Big 4, you will spend the bulk of the first couple of years filing, photocopying and doing tax returns - not much law going on there really. But if you progress, and depending on which area of tax you specialise in, you could find yourself spending a lot of time reviewing legal agreements, board minutes, tax legislation. Once you get into M&A, restructuring, refinancing, etc there is quite a lot of legal issues, and having a solid background in law and commercial issues is a bonus.


  • #10
    Arbiter of Good Taste
    Registered Users, Registered Users 2 Posts: 2,200 ✭✭✭Arbiter of Good Taste


    Also, you don't need to be an accountant to study/practice in tax


  • #11
    Bobby1984
    Registered Users, Registered Users 2 Posts: 269 ✭✭Bobby1984


    DS86 wrote: »
    I'm currently hoping to study Law for the next 1-2 years as I have an interest in the area. However, I realise that jobs are scarce within the field of Law in comparison to Accountancy. From my understanding of Accounting however is that it involves a lot of Law, so would a Law Degree help one to get into an Accounting job? And if so, how difficult would it be in comparison to somebody who had majored in Accounting?

    I done Legal and Business Studies and got a First Class Honour. I had done some accountancy as part of the course which has helped me but it seems that you are not doing any. This means that it will be more difficult for you compared to other students but if you study and apply yourself, then you should have no problem getting an Accountancy Qualification. I cant speak for the Big 4 as I work in a medium sized accountancy practice but I don't think my degree prepared me at all for what you will experience day to day in an accountancy practice. Crime, Land Law, Evidence and most of the other modules which you mentioned are of no use to me but if you have a thing for numbers you will pick it up as you go along.

    Best of luck with whatever career you pursue


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