Fastest most efficient way to become an accountant

Nappy

Hi there,

What is the fastest way to become a qualified accountant? I am not looking for a 9-5. I am hoping to set up my own consultancy somewhere down the line. I would offer services to smaller businesses.

I have a mathematics degree and work in a similar field. Would there be a market for this? Im looking for a side income, not trying to compete with big players. Would it be hard to do this without the 9-5 experience?

Excuse ignorance on subject

Immy

well you need 3 years work experience to qualify ACCA, so you will never qualify without the 9-5 or similar.

There are 14 exams in the ACCA, with a degree I think you get a couple of exemptions. 2 exam sittings per year and a max of 4 exams per sitting.

So if you were really dedicated you could be done in 3 years.

SBWife

I did ACCA in just over 18 months, I was able to use my experience prior to starting the exams toward my work experience. I used the old mature entry route and didn't get any exceptions.

This is what I did:
June - 2 exams - F2 and F3 equivalents (I needed to have these before I was able to take any other papers).

December - 4 exams - F1, F5, F7, F9 all very computational probably bar F1 would have made my life easier if I had switched out one paper for F4 or F8.

June - 4 exams - F4, F6, F8, P2 definitely recommend taking P2 as close to F7 as possible.

December - 4 exams - P1, P3, P4, P5 that was hell only thing I finally did right was to not have exams on consecutive days.

CIARAN_BOYLE

You may also need post qualification experience to get a practice cert which you may need to provide certain services in your own practice.

Immy

CIARAN_BOYLE wrote: »

You may also need post qualification experience to get a practice cert which you may need to provide certain services in your own practice.

Forgot about that one, you'll need 2 years post qualified experience to get a practice cert.

CIARAN_BOYLE

Immy wrote: »

Forgot about that one, you'll need 2 years post qualified experience to get a practice cert.

I knew about the time period with aca just wasn't sure if acca/cpa had similar requirements.

Eusebius

Stay well clear of Chartered (ACA) for many reasons, not least because it has 1 sitting per year. ACCA has 4 sittings per year.

annaP79

hi

it takes years to qualify to the level where you can go and set up your own thing
i guess the best place would be to start working in the practice and go from there, you will need to get few exams done before they even employ you so you are talking about 10 years at least i think

Do you want to be an accountant (preparing financial statements, tax returns etc.) or do you want to give advice more generally on business?

An MBA might be more relevant for the latter.

AKACCA

Hi,

Can you do P6 after completing F6 but before you have done F7 and F8?

ianuss

No.

Prettyblack

Eusebius wrote: »

Stay well clear of Chartered (ACA) for many reasons, not least because it has 1 sitting per year. ACCA has 4 sittings per year.

They have two sittings per year - May and September. I know because I split my ACA exams between the sittings.

As for the guy who said "do ACCA in 18 months" - even ACCA themselves don't recommend people taking 4 exams at a time. I heard this, directly, from someone who works for ACCA.

Whatever way you look at it OP, there is no "fast track" way to get an accountancy qualification. It would be like trying to become a doctor in a year - you've got to put the work in and that's what'll be recognised.

SBWife

Prettyblack wrote: »

As for the guy who said "do ACCA in 18 months" - even ACCA themselves don't recommend people taking 4 exams at a time. I heard this, directly, from someone who works for ACCA.

I didn't say do it. I said it could be done. I took exams 4 at a time (except for the first 2) and passed all on my first attempts. It may not be recommended but it's offered and possible.

BTW I'm not a guy...should be obvious from the moniker.

Prettyblack

SBWife wrote: »

I didn't say do it. I said it could be done. I took exams 4 at a time (except for the first 2) and passed all on my first attempts. It may not be recommended but it's offered and possible.

BTW I'm not a guy...should be obvious from the moniker.

Sorry - though I tend to use the word "guy" rather generally.

0028673

Prettyblack wrote: »

They have two sittings per year - May and September. I know because I split my ACA exams between the sittings.

As for the guy who said "do ACCA in 18 months" - even ACCA themselves don't recommend people taking 4 exams at a time. I heard this, directly, from someone who works for ACCA.

Whatever way you look at it OP, there is no "fast track" way to get an accountancy qualification. It would be like trying to become a doctor in a year - you've got to put the work in and that's what'll be recognised.

ACCA have 3 sittings this year (June, September & December) and 4 sittings from 2016 onwards...

To the OP if I were to start all over again than I would try and get into the Big 4 for a Training Contract. You won't work 9-5, more like 9 -9 from what I hear but what you will have at the end of the contract is excellent CV and you will have decided advantage over other candidates for and accountancy roles..

You will also imho be in a better position to offer consultancy services down the line..

Prettyblack

0028673 wrote: »

ACCA have 3 sittings this year (June, September & December) and 4 sittings from 2016 onwards...

To the OP if I were to start all over again than I would try and get into the Big 4 for a Training Contract. You won't work 9-5, more like 9 -9 from what I hear but what you will have at the end of the contract is excellent CV and you will have decided advantage over other candidates for and accountancy roles..

Might be a bit hard to get into a training contract at this stage, however you could look at the flexible route (which was called Elevation in my day - last year!) as you don't need a job to start but can pick one up and carry on(including contracts - a friend of mine did that. Wasn't Big 4 though).