Accountancy grad

MC1994

Hi guys,

I realise these sort of questions get asked all the time, and having looked around to find a similar thread, there wasn't really one which answered my questions:

1) I've been accepted into the H.Dip for Business Studies in NUIG for this September and I'm just wondering if I undertake any & every accounting/financial module on offer there, would that qualify me as an accounting graduate?

2) The reason I ask question #1, is because my second question is based on the training contracts for accounting grads. Would my degree, considering it isn't a full-on accounting one, turn potential suitors off my application? Or would the fact that I covered accounting modules be enough?

3) And last but not least, upon completion of my HDip, and presuming I obtain a 2.1/1.1, what is the usual next step for graduates? Do we take on a training contract and then apply to the ACCA in 3.5 years time? Should we undertake a Masters in Acc program before a training contract? Sorry for the bother but I'm just very confused as to what the road is to becoming a fully qualified accountant and when it is possible to begin seeking employment.

Really appreciate your help to anyone who has a go at my questions.

CassieManson

After you complete your course you will also need to complete the exams of your chosen professional accountancy body eg ACCA, CPA etc. It might be worth checking in advance what exemptions you may be entitled to with each body. Most trsinees study and train at the ssme time so hopefully by the time you have completed your professional exams you have completed sufficient training to become fully qualified.

MC1994

CassieManson wrote: »

After you complete your course you will also need to complete the exams of your chosen professional accountancy body eg ACCA, CPA etc. It might be worth checking in advance what exemptions you may be entitled to with each body. Most trsinees study and train at the ssme time so hopefully by the time you have completed your professional exams you have completed sufficient training to become fully qualified.

Cheers for the reply

So, after the HDip I would then need to undertake the exams? Would I be eligible for a trainee contract upon completion of the HDip and before completing the ACCA/CPA exams?

Humour Me

Have you already obtained a degree?

You don't necessarily need to have a business/ accounting qualification to get a training contract. For example one of my managers has a civil engineering degree. You could consider starting the ACCA exams directly while applying for trainee roles. Firms want to see that you are committed to developing accounting skills and completing exams before they will give you a 3.5 year contract.

The Hdip might give you exemptions for a few exams, you should check with NUIG. Otherwise your time (& money) might be better spent doing the actual accounting exams.

fishy_fishy

If you have a non-relevant background then I think its a good idea to get some sort of grounding in the area, be it through the HDip or a PDA. Not having a traditional BAcc won't go against you if your academic record is good.

The traditional route is milkrounds in the autumn and start contract the following autumn. Then do 3-4 years depending on your education and your service line, working whilst studying. Thats not the only route- lots of people go into industry and work and study from there. As for needing a masters, I'd say don't bother. It doesn't add much and with ACA their pass rates appear to be lower than people who do CAP1/2.

MuffinTop86

I did the H.Dip in Business Studies in NUIG two years ago. It gives you an exemption from ACCA exams but they tell you that you will not be eligible to apply for the Masters in Accounting.
Having said that, I believe they now have a MSc for non-accounting graduates so it could be useful.
You have to do financial management and accounting in semester 1. FM is tough enough if you’re not into maths or it’s been a while since you did it. People panic and get grinds but just go to the lectures.
They’ll strongly discourage you from taking financial management 2. This is a module the final year B.Comms will be taking in the Accounting stream. They might have had a high failure rate from the H.Dip students hence telling them not to since they couldn’t go on to the Masters anyway.
You won’t have to do any finance/accounting modules in semester 2. I avoided them, some people didn’t because they think accounting is cool and so ended up repeating.
Most people use the HDip as a gateway to get them into Business Masters courses that their Arts degree wouldn’t, such as HR, Information Systems etc.

MC1994

MuffinTop86 wrote: »

I did the H.Dip in Business Studies in NUIG two years ago. It gives you an exemption from ACCA exams but they tell you that you will not be eligible to apply for the Masters in Accounting.
Having said that, I believe they now have a MSc for non-accounting graduates so it could be useful.
You have to do financial management and accounting in semester 1. FM is tough enough if you’re not into maths or it’s been a while since you did it. People panic and get grinds but just go to the lectures.
They’ll strongly discourage you from taking financial management 2. This is a module the final year B.Comms will be taking in the Accounting stream. They might have had a high failure rate from the H.Dip students hence telling them not to since they couldn’t go on to the Masters anyway.
You won’t have to do any finance/accounting modules in semester 2. I avoided them, some people didn’t because they think accounting is cool and so ended up repeating.
Most people use the HDip as a gateway to get them into Business Masters courses that their Arts degree wouldn’t, such as HR, Information Systems etc.

Appreciate the reply guys, thanks!

Yeah I'm stuck between either going down the accounting route or applying for the Mastes in Marketing Practice. May I ask what you done following your degree?

MuffinTop86

MC1994 wrote: »

Appreciate the reply guys, thanks!

Yeah I'm stuck between either going down the accounting route or applying for the Mastes in Marketing Practice. May I ask what you done following your degree?

I finished my Arts degree in 2008 with a 2.2 and spent 7 years working in a shop so i did the Dip to kind of look good on my CV. Didn’t bother doing a Masters though if I had I would’ve done the Strategy, Innovation and People Management one. I think most of my class went on to Masters, one did the marketing practice and started working straight away I think.

It’s not as great as it sounds. I do admin in a dentist, I think it looked good on my CV but honestly they’ll accept anyone because it’s easy money for NUI. Most of your classes will be in with Commerce or Law undergrads.
If you applied and were accepted to the Masters of your choice take that instead, it’s nearly the same price.
The new International accounting and analytics one has a pathway for business graduates who didn’t specialise in accounting. You should ask, if you do the Dip, can you be considered for this Masters (if accounting is what you want), and then it’ll be worth the money.

MC1994

Hey guys, sorry to bump this but I just have a bit of a dilemma and was wondering if anyone could help?

I've been accepted, as you know, into the DBS in NUIG and have seen that undertaking this course, and the other Accounting modules within it, would offer me exemptions from papers F1, F2, F3 AND F9 with zero exemptions for CIMA or CAI.

However, I just found that GMIT have a postgrad dip in Accounting as a conversion course and their course offers multiple exemptions; F1-F6 & F9, all CAP 1 exams & 3/4 papers from the ITI.

Now, if I do switch over it would mean losing €500 of my deposit that I placed on the DBS course, but if the PDA is a better course in terms of preparation & exemption, then its a loss I'm willing to take.

Just wondering if anyone has done the PDA in GMIT and would they recommend it as a good course? Also, did you find a training contract easy to find upon completion of your degree?

heretothere

I didn't do that course but I'd def take the 'hit' and move to the course that offers the most exemptions. I'd also call the admissions unit and ask if it would be possible to transfer your deposit to the other course.

With regards finding training contracts, if you have good results you'll be fine. They want to see a good academic record and a lot of firms like to hire people with a good personality, who's a team players and will work hard. My undergrad is in Geography & Economics! I didn't do any accountancy courses at all. You'll be doing your professional exams whilst training in practice/ industry. Everyone will have a different opinion depending on where they trained. I did my training with a mid-sized firm and I must say I got a much more 'rounded' view of accountancy than friends who either went the big 4 route or industry route.

MC1994

heretothere wrote: »

I didn't do that course but I'd def take the 'hit' and move to the course that offers the most exemptions. I'd also call the admissions unit and ask if it would be possible to transfer your deposit to the other course.

With regards finding training contracts, if you have good results you'll be fine. They want to see a good academic record and a lot of firms like to hire people with a good personality, who's a team players and will work hard. My undergrad is in Geography & Economics! I didn't do any accountancy courses at all. You'll be doing your professional exams whilst training in practice/ industry. Everyone will have a different opinion depending on where they trained. I did my training with a mid-sized firm and I must say I got a much more 'rounded' view of accountancy than friends who either went the big 4 route or industry route.

Thanks for the reply, I really appreciate it.

So, as soon as I enter the course in September, am I then eligible for interviews/ to apply for trainee contracts in October during the 'milkrounds' or would I have to wait another year until I know the results of my degree?

Yeah, by taking the 'hit', I would technically save myself from spending an extra 6k the following year as there would be no need to take on a Masters.

Humour Me

Apply during the milk rounds this year, if you get an offer it will probably be conditional on your degree results.

Definitely aim for the course which gives you as many exemptions as possible, you will glad you did once you are balancing work and study.

heretothere

Humour Me wrote: »

Definitely aim for the course which gives you as many exemptions as possible, you will glad you did once you are balancing work and study.

Yes! It is so hard to balance study and a full time job. Totally do-able but hard so the fewer exams you need to do the better.

MC1994

Humour Me wrote: »

Apply during the milk rounds this year, if you get an offer it will probably be conditional on your degree results.

Definitely aim for the course which gives you as many exemptions as possible, you will glad you did once you are balancing work and study.

Would obtaining for a trainee contract, despite not having any results to show for it, be a common occurrence? Or would you need to have a good bit of luck to be hired while still in college?

Humour Me

No it's the standard process, the Big4 and other firms all go to the colleges during the milk round to hire students to start the following September once they have finished. Any job offer will be conditional on finishing college with a minimum grade, so they have the right to withdraw the offer.

Do a search on the forum for the milkround threads, a lot of information there about application processes, interviews etc.

If you could get intern experience in a firm during the summer (doesn't have to be Big4 necessarily) it would be a great way to show you are determined to qualify as an accountant. A lot of interns get offered a trainee role after college so don't need to go through the milkround process.

MC1994

Humour Me wrote: »

No it's the standard process, the Big4 and other firms all go to the colleges during the milk round to hire students to start the following September once they have finished. Any job offer will be conditional on finishing college with a minimum grade, so they have the right to withdraw the offer.

Do a search on the forum for the milkround threads, a lot of information there about application processes, interviews etc.

If you could get intern experience in a firm during the summer (doesn't have to be Big4 necessarily) it would be a great way to show you are determined to qualify as an accountant. A lot of interns get offered a trainee role after college so don't need to go through the milkround process.

That sounds perfect, thanks for the quick reply as well

Would that be for this summer or next? It's just that I'm working at the moment, to pay off for the postgrad itself, so as much as I'd love to intern I'm not sure it would be possible. Next summer I would definitely be able to commit myself to it, however.