03-16-2005, 07:57 AM
Salam people
Iâm a science graduate and am thinking of going into accountancy. I am a bit confused about the certifications and stuff so I was hoping you could help clarify a few issues. Btw, I am in the UK and would be studying for my qualification there. I know there is a number of questions but Iâd be grateful if you took the time to help me out. Maybe answer those questions you can and let others deal with the remaining questions.
1)Correct me if Iâm wrong, but to become a member with an accounting body you need to have completed their respective qualification. Is the following correct?
ICAEW/ICAS leads to âchartered accountantâ status(aka ca, aca)
ACCA leads to âChartered Certified Accountantâstatus (aka cca, acca)
CIMA leads to âChartered Institute Management Accountantsâ status(cima)
2)Do all the above courses take minimum 3 years to complete in the UK?
3)From what I have read the acca course is cheaper and arguably easier to complete. As a result is it less prestigious then aca.
a)Is this true?
b) What other differences are there? E.g. is one qualification more suitable for a specific field of accounting then the other, What is the course content like, Is one more broad then the other and so on.
3)What is the CIMA all about and how does it compare with the other two? Could you comment on factors as in the previous question such as reputation, content, relevance field etc.
4)If I am put on a training course, will work experience be a part of the course or will I have to do a further x years to be considered competent. I read somewhere that for one qualification(canât remember which), you need to get certified then complete 2-3 years in industry.
5)I also believe there is other certificates such as CIPFA and CFA. Is it correct to say the former is geared towards government and public sector services whereas the latter for financial accounting. If so is the CFA more credible then acca/aca if one wishes to go into finance.
6)Which of all these qualifications is respected internationally and which has greater market value in this sense?
7)How easy will it be to get a job after becoming certified?
8)Suppose I wanted to work in an area like cooperate recovery or cooperate finance, what would be the best certification/route to take. Also what are the prospects for international travel when working in this field?
9)How important is it to be training with the big four firms? someone told me if youâre not with the big four your career prospects will be limited. Also is it true that the majority of uk graduates work for the big 4 forms?
10)What field of accounting will allow me to be amongst people a lot and have good prospects for international travel. Also what might I be doing when Iâm abroad?
11)Suppose I went for ca and later wanted to work in the public sector, would a cipfa be given precedence over me?
12)Once I have a training contract, does this mean after the 3 years the firm who employed me will continue to employ me? Would I be on a contract and would I have to commit myself to them for a few years? If yes, how long?
13) Do most accountants work internally within organisations or externally i.e. private practices.
Thank you for your time. Salam.
Iâm a science graduate and am thinking of going into accountancy. I am a bit confused about the certifications and stuff so I was hoping you could help clarify a few issues. Btw, I am in the UK and would be studying for my qualification there. I know there is a number of questions but Iâd be grateful if you took the time to help me out. Maybe answer those questions you can and let others deal with the remaining questions.
1)Correct me if Iâm wrong, but to become a member with an accounting body you need to have completed their respective qualification. Is the following correct?
ICAEW/ICAS leads to âchartered accountantâ status(aka ca, aca)
ACCA leads to âChartered Certified Accountantâstatus (aka cca, acca)
CIMA leads to âChartered Institute Management Accountantsâ status(cima)
2)Do all the above courses take minimum 3 years to complete in the UK?
3)From what I have read the acca course is cheaper and arguably easier to complete. As a result is it less prestigious then aca.
a)Is this true?
b) What other differences are there? E.g. is one qualification more suitable for a specific field of accounting then the other, What is the course content like, Is one more broad then the other and so on.
3)What is the CIMA all about and how does it compare with the other two? Could you comment on factors as in the previous question such as reputation, content, relevance field etc.
4)If I am put on a training course, will work experience be a part of the course or will I have to do a further x years to be considered competent. I read somewhere that for one qualification(canât remember which), you need to get certified then complete 2-3 years in industry.
5)I also believe there is other certificates such as CIPFA and CFA. Is it correct to say the former is geared towards government and public sector services whereas the latter for financial accounting. If so is the CFA more credible then acca/aca if one wishes to go into finance.
6)Which of all these qualifications is respected internationally and which has greater market value in this sense?
7)How easy will it be to get a job after becoming certified?
8)Suppose I wanted to work in an area like cooperate recovery or cooperate finance, what would be the best certification/route to take. Also what are the prospects for international travel when working in this field?
9)How important is it to be training with the big four firms? someone told me if youâre not with the big four your career prospects will be limited. Also is it true that the majority of uk graduates work for the big 4 forms?
10)What field of accounting will allow me to be amongst people a lot and have good prospects for international travel. Also what might I be doing when Iâm abroad?
11)Suppose I went for ca and later wanted to work in the public sector, would a cipfa be given precedence over me?
12)Once I have a training contract, does this mean after the 3 years the firm who employed me will continue to employ me? Would I be on a contract and would I have to commit myself to them for a few years? If yes, how long?
13) Do most accountants work internally within organisations or externally i.e. private practices.
Thank you for your time. Salam.
