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Accounts Technician... what next?

Navy blue

I know there are a good few threads with similar queries, so please forgive me for starting another!

I have just finished my accounts technician exams, a bit of back-round, I am 41, work full time in an admin role (but not an accounting practice) and have two young kids. I enjoyed the ATI course which I did PT in evenings and didn't find it too difficult. But I have to be realistic about my age and family situation before taking my studies further. I don't have any other qualifications other than the ATI.

If I did decide to partake in further study, I think I could see myself more in industry rather than practice. Is there a professional body/bodies that are focussed more on industry? Realistically, how long is it likely to take to qualify if studying part time? I presume all bodies require 3/4 years work experience before being fully qualified? Am I mad even thinking about it given I'll probably be in kicking distance of 50 before being fully qualified?

Sorry if this post is a bit rambling, I appreciate any advice

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onlinepal100

Firstly, congrats on your exam success. Good at any time of life.

In terms of a professional accounting qualification geared more towards industry/business rather than audit/financial statements etc. the main one that springs to mind is CIMA (Chartered Institute of Management Accountants). CIMA does provide training/learning in relation to financial statements but its main focus is on all of the other management skills one might need to drive and develop a business.

With the ATI exams behind you I think you will get exemptions from the Certificate level exams and then start out on the next 3 levels. At each level there are 3 subjects, followed by a case study which pulls together all that you have learned in the three subjects.

The exams are all online at present - normally the case study is a written exam but in the COVID world things are a bit different.

There are 2 or 3 places in Dublin/Ireland which provide the learning but you can do it yourself at home.

Assuming 1st time passes, it should be possible to pass in 3 years max.

Don't be fooled, any one of the accounting bodies' exams are difficult so it will be a hard slog with any of them.

Happy to take a PM if you wish.

Good luck.

unhappys10

You can also get an industry position and do ACA or ACCA.
You wouldn't be tied to CIMA if that wasn't what you wanted.

y0ssar1an22

congrats on the exams!

here is the list of further study options available and associated exemptions:

https://www.accountingtechniciansireland.ie/images/uploads/general/Guide_to_Further_Study_September_2019.pdf

i can only speak for ACA, you will still require 3 years of exams. 2 from CAP1, all CAP2, and FAE. ACA are also at set times during the year. I think with ACCA there is a bit more flexibility.

perhaps there is something there that can be completed quicker?

antix80

Look into ACCA. You'd likely be qualified by the time you're 44-45 if the admin role you're currently in is accounting-related (e.g. AP/AR/accounts) and you have a chance to gain accounting skills in your current company.

You probably already have a few exemptions from ACCA exams and you can sit them at your leisure as long as you don't mind a lot of study and a fair bit of exam stress. I'd reckon there is a huge difference from your ATI exams to the later ACCA papers so if you haven't studied at 3rd level before they might come as a bit of a shock. Many people sit them after an accounting or business degree when they're still in exam mode.

Navy blue

Thanks everyone for the replies, I really appreciate them.

I am prepared for a big step up in difficulty from the ATI exams to any of the professional bodies exams. I am not overly worried about that aspect as I worked pretty hard for the ATI exams and had a good study routine going so I think I would be prepared to put the work in.

Is there much difference between ACCA and Chartered Accountants Ireland? It seems that I would get more exemptions with ACCA, but don't know much about the body itself

Foweva Awone

You have a lot more flexibility with ACCA. In general ACCA is favoured by those working in industry, whereas those working in practice will general sit the Chartered Accountants exams.

Some would say ACCA is more recognised abroad, if that's a factor for you.

Navy blue

Foweva Awone wrote: »

You have a lot more flexibility with ACCA. In general ACCA is favoured by those working in industry, whereas those working in practice will general sit the Chartered Accountants exams.

Some would say ACCA is more recognised abroad, if that's a factor for you.

Thanks for that, definitely wouldn't be moving abroad so that wouldn't be a factor, but the flexibility is a plus. I must call them and find out the costs involved. The pricing structure on their website is a bit hard to follow.

antix80

Navy blue wrote: »

Thanks for that, definitely wouldn't be moving abroad so that wouldn't be a factor, but the flexibility is a plus. I must call them and find out the costs involved. The pricing structure on their website is a bit hard to follow.

I thought their fees were straightforward enough.

You have to pay for your exemptions as if you sat the exams. You also have to pay a registration fee and a yearly student fee. Then pay for the exams themselves (you can pay for tuition or buy the materials from ACCA or third parties).
Once you qualify you have to pay a yearly subscription fee and undertake CPD (which also involves paying for courses although you can get free CPD units).

Hopefully your employer will help with your costs.

Navy blue

antix80 wrote: »

I thought their fees were straightforward enough.

You have to pay for your exemptions as if you sat the exams. You also have to pay a registration fee and a yearly student fee. Then pay for the exams themselves (you can pay for tuition or buy the materials from ACCA or third parties).
Once you qualify you have to pay a yearly subscription fee and undertake CPD (which also involves paying for courses although you can get free CPD units).

Hopefully your employer will help with your costs.

Thanks for the quick reply, it was the tuition that I was wondering about, but of course now I remember that even with ATI, I paid that directly to the college. That makes it a lot clearer, thanks!

Navy blue

Sorry for the additional question, does anyone have an opinion on CPA? It seems to be the one pushed most by ATI.

unhappys10

Navy blue wrote: »

Sorry for the additional question, does anyone have an opinion on CPA? It seems to be the one pushed most by ATI.

I would have assumed ATI would push ACA seeing as they share a building?

Navy blue

unhappys10 wrote: »

I would have assumed ATI would push ACA seeing as they share a building?

'push' is probably the wrong word, just in our college, they had someone from CPA down to give a talk and gave out literature at different points. For a good while, I thought CPA were the only organisation they had a relationship with.

unhappys10

Navy blue wrote: »

'push' is probably the wrong word, just in our college, they had someone from CPA down to give a talk and gave out literature at different points. For a good while, I thought CPA were the only organisation they had a relationship with.

Ah I see, that was probably the college?
I actually don't know any CPA's but I know a few of ACA and ACCA.
Probably all much of a muchness, see where u get the best exemptions or more importantly who has the best pass rate.

Jim2007

Navy blue wrote: »

Sorry for the additional question, does anyone have an opinion on CPA? It seems to be the one pushed most by ATI.

Branding... you are going to put a lot of time and effort into getting the qualification, so why would you go for one that you are going to have to continually explain that it is the 'same as', 'as good as', 'similar to' or 'like': ACA, ACCA or CIMA?

I have no doubt that after say 10 years of work experience it makes very little difference which qualification you started out with in terms of work. But when you need to sell yourself, it is easy with a well known brand.

signoup

Hi, Navy blue.

ACCA will give you the most flexibility and now a days, surprise, surprise, full exemptions with ACA, less, obviously the final examination FAE as per any accountancy body around the world.

ACCA facilitates as well for you to achieve a vocational degree in accountancy with Oxford Brooks University and if you want a Masters degree with the University of London all these degrees by distance learning at very affordable prices given by reputable institutions.

You want correctly, at your age, follow a carrier in accountancy in Industry VS Practice. For that go for the American body for management accounting certification instead of CIMA.
This American professional credential CMA, Certified Management Accountant is offered by IMA - Institute of Management Accounting. They have a reciprocal agreement with ACCA. You can do it by distance learning as well and in a faster an easier away than the complicated CIMA (CIMA Uk has an agreement with America CPA) qualification. CMA is recognized all over the world, particularly by the American multi nationals companies wherever they are.

Other than that get an accountancy related job study up to (use your ATI exemptions) ACCA F9 and you'll be fine.

One question. Are you interested in selling your ATI 2nd year books? I suppose the books are from 2019/2020. If so let me know. Thanks

marizpan

signoup wrote: »

You want correctly, at your age, follow a carrier in accountancy in Industry VS Practice. For that go for the American body for management accounting certification instead of CIMA.
This American professional credential CMA, Certified Management Accountant is offered by IMA - Institute of Management Accounting. They have a reciprocal agreement with ACCA. You can do it by distance learning as well and in a faster an easier away than the complicated CIMA (CIMA Uk has an agreement with America CPA) qualification. CMA is recognized all over the world, particularly by the American multi nationals companies wherever they are.

Other than that get an accountancy related job study up to (use your ATI exemptions) ACCA F9 and you'll be fine.

One question. Are you interested in selling your ATI 2nd year books? I suppose the books are from 2019/2020. If so let me know. Thanks

Just to counter the above, US MN located in Ireland generally look for ACA/ACCA/CIMA qualified individuals. I have never heard them look for CMA qualified and highly doubt it would add anything to your career if you plan on staying in Ireland.

Jim2007

signoup wrote: »

CMA is recognized all over the world, particularly by the American multi nationals companies wherever they are.

Switzerland is the home of the European HQ for many American multi nationals and of the handful I worked for, I never heard of anyone with the qualification nor it being advertised as requirement.

The did try and set up a training course in Zurich a few years ago, but it was cancelled because of a lack of interest.

They mostly look for ACA/ACCA CIMA or MBA. Like I said before, don't go for something that you're going to have to explain is the same or similar to something they already know.

ari101

Unless things have changed ACCA definitely has more flexibility that ACA (can't speak for CIMA), and these three would be the normally looked for qualifications in industry in Ireland.

What will really make the difference is getting into a job that gives you decent experience and room to progress and grow as you get closer to qualification.

Generally, anyone with a bit of accounting aptitude, a good study ethic, and some luck, can pass the exams eventually, but having the experience is what will allow you to progress in a career. It might be a tough time to move, but start keeping an eye out for accounting roles in industry that will support you or even take a stepping stone admin role with some accounts work to get a bit more accounting experience for your CV.

Best of luck.

Navy blue

I just want to thank everyone for taking the time out to reply to my query.

I have decided to go ahead and apply for an ACCA qualification. It offers good exemptions for my completed study and the flexibility is a real draw for me. Hopefully I will be able for it and not find it too overwhelming!

Thanks again

antix80

Good to hear.

When signing up for these things, always keep in mind how they fit in with your future plans.

It's all well and good to have something to "fall back on" or to "keep your options open" but it's even better to know you're working towards something and to know how study and qualifications will fit in with those plans.

I found doing 2 ACCA papers was useful when I worked in audit as a trainee-there was very little guidance for trainees in the practice apart from copy what was done last year so the study was useful.
I think that's what makes ACCA study useful -moreso than studying an undergraduate business degree - and I would imagine you wouldn't benefit so much if you weren't working in accounting.

signoup

Congratulations Navy-blu!

Remender, study at home it doesn't mean study alone.

You have fantastic online tuition providers for ACCA. They provide all you need to succed. It costs a bit but you dont need to think about anything else than study and sit the exams.

-Here you have some information about the Oxford Brooks University (OBU) Degree, if is of your interest. Will be hard to let this oppurtunity go: (please google the link without spaces, at the end of the reading, you will 3 more links of interest about the Degree)

>>> got it pass. com /post/ why-is-obu-bsc-hons-in-applied-accounting-good-to-me

-A official OBU ACCA Degree mentor (there are more)

>>> anna mentor. com

Is good to get advice on this from an early stage not only from a good ACCA provider but as well from a mentor. Good to Know some information before talking to the experts.

All the best!!

Will Yam

unhappys10 wrote: »

I would have assumed ATI would push ACA seeing as they share a building?

ATI are essentially a subset of CAI.

They have the same chief executive.

Will Yam

Navy blue wrote: »

I know there are a good few threads with similar queries, so please forgive me for starting another!

I have just finished my accounts technician exams, a bit of back-round, I am 41, work full time in an admin role (but not an accounting practice) and have two young kids. I enjoyed the ATI course which I did PT in evenings and didn't find it too difficult. But I have to be realistic about my age and family situation before taking my studies further. I don't have any other qualifications other than the ATI.

If I did decide to partake in further study, I think I could see myself more in industry rather than practice. Is there a professional body/bodies that are focussed more on industry? Realistically, how long is it likely to take to qualify if studying part time? I presume all bodies require 3/4 years work experience before being fully qualified? Am I mad even thinking about it given I'll probably be in kicking distance of 50 before being fully qualified?

Sorry if this post is a bit rambling, I appreciate any advice

You’re never too old!!!

One other option, depending on your aptitude, is to focus on tax (not everyone’s cup of tea..........).

If so you could do the Irish Tax Institute exams. I’m not sure what exemptionS you’d get - but I imagine you’d get off at least year one, which would only leave 2 exams to go.

Bear in mind that in accountancy you also have to do 3? years supervised training (I’m subject to correction on this).

The ITI is highly regarded in tax world.

wally1990

Go for it as the above posted said!!

Your never too old!?!?

Who '' decides we are '' too old' to ever stop learning?

What age is too old anyway to stop progressing and learning and again, who decides that ? 25/30/35/40/45/50/55/60....

Society???

Youve another 25+ years ahead of you!

If you question is if it's pointless at your age, then no it isn't by any means!

Go for it!!! I'm 31 and fully intend on doing continuous development and upskilling during my working career until retirement or close to it

I've done ATI, starting CIMA and regularly do short term professional development courses through the year and who knows what I'll want to do in 10 years time,

but I do intend on learning and keeping myself knowledgeable and educated

Now using my own advice then I think you should too!!

The worst thing for you to do, is actually do nothing! . That's of no material benefit to you professionally or personally

It's absolutely in your benefit to continue is my opinion and anyone who tells you otherwise is simply not worth their opinion