ACCA exams/job prospects?

mologo

Hi all, just joined boards to ask a few questions about going into accountancy. I'm looking at the ACCA exams in particular, and this would be a complete career change.

About me: Undergrad and masters in marketing field (practically no experience in accounting at all), 38 years old (so its a late change!), have good quality work experience internationally (if that has any bearing on anything).

Assuming that I would like the job of accountancy, I have a few questions. Any answers would be great!

1 Looked into the details of the ACCA exams and I don't see any great benefit to studying for a college qualification (Ie a masters), as you don't seem to get that many exemptions (maybe 5 to 8 exemptions over a year or 2, if youre lucky?). Time wise and moneywise it seems better to just do the ACCA exams on my own. Am I way off the mark here?

2 From an employability point of view, how many exams would I need to do before I would be considered employable? Just the F level exams (1 - 4)? Or would I really need to be hitting 6 or more?

3 To narrow down the above, at what number of exams would I find it "easy" or have decent options to land a starting/training job (remembering that I have no experience)?

4 Is language ability much sought after? I'm fairly competent (but rusty) in Spanish and Chinese (maybe b1 level in European framework), but would need to sit assessment exams to get up to scratch. Is this worth the effort in the area of accountancy, or would it be the same with most sectors, ie "that's nice but has no bearing on anything"?

5 Maybe its better as a hypothetical. Lets say I have completed 5 of the ACCA exams, no accounting experience, competent in Spanish and Chinese. Would I find it difficult to land a position?

Obviously my age wont do me any favours, but am I looking at a decent strategy to get the ACCA exams and language, or would I be better off doing something different?

Appreciate any help on this as I don't want to be wasting effort or time. Thanks!

Loughc

mologo wrote: »

Hi all, just joined boards to ask a few questions about going into accountancy. I'm looking at the ACCA exams in particular, and this would be a complete career change.

About me: Undergrad and masters in marketing field (practically no experience in accounting at all), 38 years old (so its a late change!), have good quality work experience internationally (if that has any bearing on anything).

Assuming that I would like the job of accountancy, I have a few questions. Any answers would be great!

1 Looked into the details of the ACCA exams and I don't see any great benefit to studying for a college qualification (Ie a masters), as you don't seem to get that many exemptions (maybe 5 to 8 exemptions over a year or 2, if youre lucky?). Time wise and moneywise it seems better to just do the ACCA exams on my own. Am I way off the mark here?

2 From an employability point of view, how many exams would I need to do before I would be considered employable? Just the F level exams (1 - 4)? Or would I really need to be hitting 6 or more?

3 To narrow down the above, at what number of exams would I find it "easy" or have decent options to land a starting/training job (remembering that I have no experience)?

4 Is language ability much sought after? I'm fairly competent (but rusty) in Spanish and Chinese (maybe b1 level in European framework), but would need to sit assessment exams to get up to scratch. Is this worth the effort in the area of accountancy, or would it be the same with most sectors, ie "that's nice but has no bearing on anything"?

5 Maybe its better as a hypothetical. Lets say I have completed 5 of the ACCA exams, no accounting experience, competent in Spanish and Chinese. Would I find it difficult to land a position?

Obviously my age wont do me any favours, but am I looking at a decent strategy to get the ACCA exams and language, or would I be better off doing something different?

Appreciate any help on this as I don't want to be wasting effort or time. Thanks!

1. Yes this is certainly a good option to start into your exams, however you may want to do some sort of Accountancy course before the exams to see if a) you like it and b) to give you more of a rounded view before starting the ACCA exams.

2. Seeing as you have no experience or prior involvement in Accountancy I wouldn't even view an applicant like your unless you were on your final exams, at least that would show you're serious about this and have more understanding of accountancy.

3. Again IMO I think you'd want to be on your final exams before a paid job should even be considered. Lots of places would take you on prior to that in an intern role.

4. In any of my prior roles, I can safely say having additional languages was an advantage. However there are plenty of multinationals looking for that criteria.

5. Again in any of the places I've worked employers look at experience versus exams when hiring, that would give you a distinct disadvantage, offer your time as an unpaid intern somewhere and that will get you valuable experience.

Mickiemcfist

Loughc wrote: »

1. Yes this is certainly a good option to start into your exams, however you may want to do some sort of Accountancy course before the exams to see if a) you like it and b) to give you more of a rounded view before starting the ACCA exams.

2. Seeing as you have no experience or prior involvement in Accountancy I wouldn't even view an applicant like your unless you were on your final exams, at least that would show you're serious about this and have more understanding of accountancy.

3. Again IMO I think you'd want to be on your final exams before a paid job should even be considered. Lots of places would take you on prior to that in an intern role.

4. In any of my prior roles, I can safely say having additional languages was an advantage. However there are plenty of multinationals looking for that criteria.

5. Again in any of the places I've worked employers look at experience versus exams when hiring, that would give you a distinct disadvantage, offer your time as an unpaid intern somewhere and that will get you valuable experience.

I think that's an overly negative view, AP/credit control/accounts assistant jobs would be achievable with 6 or so exams under your belt. Just the F level would be too few.

Loughc

Mickiemcfist wrote: »

I think that's an overly negative view, AP/credit control/accounts assistant jobs would be achievable with 6 or so exams under your belt. Just the F level would be too few.

Actually I have to agree it was overly negative, I was just giving a harsh reality of the market when factoring in age, experience, etc. probably too harsh.

Apologies to the OP, I do agree with Mickie, Accounts Assistants roles would be easier to come by and will give excellent experience.