Education

How to train to become an accountant

The accounting profession is one of the most highly respected and highly paid professions. The ability to crunch complex numbers in itself creates envy among people who are less able. Accounting is far from the stereotype of being a boring job. Accountants are also at the helm of many businesses and in the world of finance such as stockbroking, investment banking, etc. It is far from the boring image that it is often conveyed in.

It is possible to attain an ACCA at a fraction of the normal cost. Find more in this article.

There are two important routes that people wishing to train to become an accountant can take:

Accounting degree

A degree in accounting or an accounting related subject such as finance can often be route to becoming a professional accountant. A degree alone may not be sufficient, although it will definitely open. Normally a degree will be accompanied by some training, either on the job or a specific accounting training course in an accounting role or better still, in a chartered accountancy firm.

Many people obtaining an accountancy or accountancy related degree often seek a Masters degree in a related or slightly unrelated subject to broaden their learning.Many others start training for ACCA whilst gaining experience working in a accountancy role.

ACCA

Many accountants initially never really intended to become an accountant, it is often a change of career. For these people, an ACCA route is the best way. It requires them to start the ACCA course either by attending classes in one of the many nationwide ACCA centres. This is the most expensive option and many people receive funding from work. However, there is a cheaper alternative. It is possible to study from home by buying your own textbooks and paying only a small entry fee for each paper and of course the small membership fee, which is an obligation for everyone doing ACCA. This allows you to receive ACCA related material such as newsletter, magazines.

The advantage of self-study is the massive savings on tuition fee, but the disadvantage is not actually receiving any tuition. However, if you feel you are capable of doing it on your own, and many do, then there is no reason why you should not do the same.

Whether you decide to attend tuition classes or not, you will receive full access to the ACCA website, which is full of valuable material such as past exam papers and answers.

Practical experience

It is not possible to become fully qualified just by passing all the papers of all three parts of the ACCA course. To become fully qualified it is also required of its members to get practical experience. This has to be in an accountancy related position with a superior overlooking your progress. The superior is required to fill in a progress report, assessing you on many criteria. These are two common routes that people in the UK take to become an accountant.