To become an qualified accountant typically a combination of accounting skills, education, qualifications and networking skills are required in the industry.
Education
University Route
To start a career in accounting, education is key. The most common path to becoming a chartered accountant is gaining a degree in an accounting or finance related subject. Following this you would seek a graduate level position to complete your training. Of course, it should be noted that you don’t have to have done a finance or accounting related degree at university to become a chartered accountant.
Completing an Undergraduate degree in an accounting or finance related subject often enables you to qualify for some exemptions for your chartered accountant qualification. This means you would not have to sit all of the exams usually required for someone to become qualified. However, despite this you will still need to gain at least 450 days of practical work experience, which normally takes around three years. This route will take you around six years in total to become ACA qualified, three years at university and three years in a post graduate level position where you can gain the practical work experience needed to become chartered.
Practice route
Alternatively, you can go straight into an entry level role at a chartered accountancy practice and complete your AAT qualification (in lieu of university degree) and then undertake your ACA Chartered Accountant qualification. However, you will not usually qualify for any exam exemptions. This route can typically take around four to seven years depending on how much time you have around your other work commitments and how regularly you sit and pass the exams.
Choose your speciality
Once you have qualified as a chartered accountant it is important to know which area of accountancy you would like to specialise in. During your studies you will gain exposure to a variety of different work types and sectors and this can help provide insight into what sort of work you enjoy and what suits your skillset/personality.
Further qualifications and certifications
Specialising in a specific area of accounting and finance may require you to undertake further qualifications and certifications to qualify yourself as an expert. For example, if you wanted to specialise in tax you may want to consider obtaining an Association of Tax Technicians Qualifications (ATT).
Networking
Networking with like-minded individuals at events, speaking to fellow accounting professionals at conferences and promoting the accountancy field at careers fairs are all important to the continuous development of the industry. Networking is an important part of your career as an accountant, having built relationships with others in the industry it could promote job opportunities as well as introducing you to other professional bodies and sharing insights. The ability to develop and hone your social skills should not be ignored.
Skills in your accounting careers
In order to pursue your career as an accounting professional it is typically useful to have the following skills; problem solving, attention to detail, analytical skills, mathematical ability, social skills and a degree of understanding with accounting software for example Excel or at a more advanced level, sage.
Typically, accounting professionals develop these skills is by gaining experience in the financial sector by completing an internship, a part time job at an accountants or through volunteering, these are all good ways to learn on the job, gain experience and give you an insight into your future career as a chartered accountant. There are also a lot of resources available online which can help you develop your knowledge.
If you’d like to know more about how to become an accountant and the job opportunities, please visit our careers page.
Simon Bladen
Partner