Becoming a chartered Accountant

topmanamillion

I`m interested in becoming a chartered accountant but I'm uncertain as to the best route for me.
I am coming from a non Accountancy/financial background but I do have a Science degree.
Originally I was thinking of going back to college and doing a Business and Accountancy degree as that would give me a good launching pad.
However, I spoke with someone from CAI and they told me I could begin studying with them immediately.

What would people who are CAs or in the process of becoming one advise?
Would I likely find the CAI course work extremely difficult?
Would I likely find it difficult to gain the necessary 3.5 years experience needed to become a CA without a Business/Accountancy orientated degree?

DubCount

I would no go for a Business Degree first. I'd try to get into an accounting practice and jump straight into the exams.

You will probably find the CAI course work extremely difficult. I have not met many people who found it easy, no matter what background they come from.

Its probably easier to get into an accounting firm with a business degree, but some of the bigger firms in particular will hire some non-business graduates. If you are undertaking an audit of a bio-chemical engineering company, having someone on the audit team who has a science degree could be a real benefit.

Good luck !!

ace_irl

A lot of firms will hire non-traditional candidates, in bigger firms it helps diversify them. Another thing you could look into is going into industry.

If you go on to the CAI website they have a list of advertisements for trainees. It's a good place to start applying for jobs. You might still have time to apply for the milkrounds with the top 10 firms. They like to take on a percentage of non-tradtional applicants, well they did when I was in college.

Alternatively, you can opt for the flexible route which allows you to sit exams outside a training contract, this can help close the gap in your accounting knowledge.

The exams are hard, there's no doubt there, but I find it to be worth the hard work!

diomed

I'm a retired CA.
You do not need much accounting knowledge. You will pick it up on the job.
And working in an accountancy practice will give you a feel for what is in the books. You will be working with people who know more than you and you will learn from them.
What you bring is a trained mind, and proven ability.

diomed

topmanamillion wrote: »

What would people who are CAs or in the process of becoming one advise?

I can't comment as it is more than 40 years since I qualified.
I did not have a degree. It was five year articles and five exams.
All graduates going into practice know almost nothing.
Your nothing will equal the nothing of someone with a business degree.

topmanamillion wrote: »

Would I likely find the CAI course work extremely difficult?

In my time the exams got progressively more difficult from year 1 to year 5.
When I did the final exam the pass rate was 28%.
About half the candidates then were 5 year, about half were degree and 3 year.
You will get through if you work hard. If the exams were easy there would be no point doing them.
Back in my time many never qualified, but then they never decided to make sure they did qualify.
When they finished their 5 years or 3 years and went on to bigger money they got comfortable.
I failed the 3rd exam (actually got an A, B+, B but not a high enough average).
My mind was made up to qualifiy in articles before my 5 years were up.
The inspiration was a guy in the office telling me the accountant where he was auditing had passed the final exam in six months.
So I did the 4th exam in December, started studying for the 5th exam on 1st January (before I knew the result of the 4th), and sat and passed the final six months later.
If you want to qualify you will if you work hard.

topmanamillion wrote: »

Would I likely find it difficult to gain the necessary 3.5 years experience needed to become a CA without a Business/Accountancy orientated degree?

No difficulty. You will be studying and working at the same time.
Ask your manager for more interesting (or difficult) assignments if you want to learn.
You will progress from being one of a number of wet behind the ears juniors working with a senior to being a senior managing a few juniors.
Try to avoid getting sent on the same audit(s) every year.
I never considered it as gaining experience, it was work Monday to Friday 9 to 5.

Pawwed Rig

If you do a relevant degree you will get CAP 1 exemptions. So 3 years to save 1 year.
The exams are poxy hard but if you work at it hard you can get them. Best move I ever made.

You could consider tax either.

bbari

I'd Masters in IT and worked in that sector for 4/5 years. Never studied accountancy in school/college, didn't know a single debit/credit. I started ACCA part time. Passed all the exams (eventually). Having no accountancy background wasn't much of a disadvantage, learnt almost everything in work. Yes it was hard at times but it was hard for the people who had accountancy background too. This is my personal experience and same as the above poster, its the best move I ever made.

Best of luck with whatever you decide!

Nettle Soup

bbari wrote: »

I'd Masters in IT and worked in that sector for 4/5 years. Never studied accountancy in school/college, didn't know a single debit/credit. I started ACCA part time. Passed all the exams (eventually). Having no accountancy background wasn't much of a disadvantage, learnt almost everything in work. Yes it was hard at times but it was hard for the people who had accountancy background too. This is my personal experience and same as the above poster, its the best move I ever made.

Best of luck with whatever you decide!

Sorry but can you clarify? Did you work in IT or an accounting practice when doing the ACCA exams part time?

bbari

I worked in IT for the 1st two years of studying ACCA / till I passed 9 of 14 exams. I switched job to accountancy at that point and learnt a lot in the job which did help me in passing the last few exams.