Choosing accountancy/book keeping as a career - The Book-keepers Forum (UK)

geek84 · Senior Member

Choosing accountancy/book keeping as a career

additionsbookkeeping · Veteran Member

Bookkeeping is probably the first step towards being qualified as a chartered accountant, no way are you too old to start. I thought I was at 33 but hey ho over on the AAT forums theres a guy whose in his 50's I think and hes behind me (in qualification before you all start!!)

You can distance learn which means you can study as quickly or slowly as you like. I have done ICB and am part way through AAT and would say if you are planning to go further or are just looking for a good all round qualification the AAT is better. I passed my ICB without reading any books just from AAT knowledge.

Zoe · Senior Member

Of course you aren't too old - Ray Croc was 52 when he started McDonalds.

semsley · Guru

You're never too old to learn - I intend to go back and study ancient civilizations when I retire (maybe an Masters or PHD) got to keep the old grey cells active.

Rhianrach · Expert

Never too old at all.

My Dad only got his PhD when he was 60 odd.

Steve

Wella · Expert

There's hope for me too then?

Bill

Rhianrach · Expert

Wella wrote:

There's hope for me too then?

Bill

I suppose as you get older it becomes more of a gamble, trying to fit all your studies in and get those all important letters after your name before senility sets in. wink

Shamus · Forum Moderator & Expert

Hi Bill, Hi Steve,

I was 42 when I started down the accountancy path, now clinging onto being 48. I came to it from banking and high finance so not too much of a culture shock in the transition but still a big move when I hadn't done any exams since my late teens.

I subscribe to the use it or lose it train of thought. Basically if you don't excercise the old grey matter then it loses it's ability to retain data in the same way that if you don't excercise your body it loses its ability to lift any more than a coffee cup.

Strangely I hadn't done any study for years but then had to learn a new language and bits of my brain seemed to kick back into action that had been dormant for years. I think that unrelated kick start also helped with memorising things in other fields including the accountancy studies.

I'm sure the keys to everyone's neural pathways vary greatly but I would highly recommend that if you want to start learning at a later stage in life then do something really difficult and completely outside your comfort zone right from the start.

So, my advice to everyone is if you want to learn bookkeeping or accountancy start by memorising the Thai alphabet!

Talk in a bit,

Shaun.

Wella · Expert

Shamus wrote:

.............
I was 42 when I started down the accountancy path, now clinging onto being 48. ............

I'm clocking 52 later this year. Can't say I'm looking forward to it but I definately don't want to miss it.

I agree with the use it or lose it philosophy (look what happens to post offices, and pubs) and along with the darker arts of bookkeeping, I have taken up music, which is not a natural subject for me and something I could never comprehend at school but have know finally started to understand. With that I am also trying to learn keyboard and bluegrass banjo (don't laugh, its really hard learn, and if you have short stubby fingers, like me, it's really hard to play)

Anyways the sun is a shinin' here today, so I'm a goin owt on the auld wooden porch to ma rocken char and play me some duelling banjos

Earl Scruggs

AKA Bill

adi2402 · Senior Member

Hi geek,

I work in a fairly successfull accountany firm and we recently took on a guy in his mid 40's who had no accountany experience. He will sit his ACCA exams over the course of 3 years and be time served at the end of that period. He seems to be getting on fine. The only down side seems to be a drop in salary from his previous job and younger people like me telling him what to do :)

Anyway from my point of view, this should be the route you want to take if you are serious about it. I would not go down the bookkeeping route, I think you just want to get your qualifications as soon as possible.

On a side note we generally take a CA student on each year and more that 50% of the time we take a non relivant student i.e an agricultural degree or something similar and the lack of accounting experience does not hinder them in qualifying in 3 years.

Hope this help a little.

PS, not proofreading this so please ingnore typos :)

-- Edited by adi2402 on Sunday 18th of April 2010 10:42:44 AM

geek84 · Senior Member

Hi folks

Many thanks for your replies.

I want to ideally reach towards the top of whichever career I choose, i.e. get to chartered status. However, if I go into accountancy, there is a maze of qualifications to get through - AAT, CIMA, ACCA etc, before reaching chartered status.

I am now thinking that it would take me a good few years to achieve this & will most propbably reach my 50th birthday before completing all the required exams. On top of that, not many enployers will be willing to take me on to give me the required work experience.

Finally, I was thinking of just doing the AAT. However, this seems just to be a 'basic' qualification in the field of accountancy, so I will always feel that I have let myself down by not continuing with my career development and reaching towards the top of my chosen career.

What would you folks do in my situation?

Thanks

RobH · Expert

Lion taming? (obviously via banking). smile

RuthA · Senior Member

The way I've been thinking about it is to concentrate on what I actually want to be doing both in terms of how and where to train and beyond that, once I'm qualified. Once I had focussed on that, the answer became pretty clear.

For me, the key things are to be able to work part time, self employed and to be working with SMEs. I'm also used to aiming for the top so it's a bit hard for me to get my head around not going for the most well respected qualification, but I decided that, for me, status came secondary to those other aims. I'm not looking for a high flying career as it wouldn't fit in with my family commitments and whilst I want a decent income, I'm not bothered about being a really high earner.

When I had accepted all of that that, I realised that one of the 'lesser' qualifications would meet my needs perfectly.

So my questions would be.....where do you see yourself, what do you want to be doing in a year, 5 years and 10 years time? What are your priorities?

sue · Newbie

Hi Geek84
In response to your note, I have been bookkeeping for many many years without formal qualifications and was asked to work on sage, this led me to do a part time course to learn sage which I completed, this then led me to AAT I am in the final last half of the full AAT qualification and I am 51. so for someone who was in administration for most of my working life to now be qualified to take on clients at my time in life must surley be an incentive to you. my client base is growing and I have never had to advertise. I do hope you take the plunge and I am sure you will enjoy it as much as I have. Good luck with it.
Sue
PS to do either the sage or the AAT you need no former formal qualifications, just the will to learn!

Rhianrach · Expert

sue wrote:

Sue
PS to do either the sage or the AAT you need no former formal qualifications, just the will to learn!

And a healthy bank account wink

geek84 · Senior Member

Hi Folks

May thanks for those words of encouragement Sue.

I have decided to do the AAT through Premier Training. Have you heard of them? Do you think they provide a good value for money?

Yes, I do agree with Steve, that you do need a good bank balance in order to do the accountancy exams!

Rhianrach · Expert

geek84 wrote:

Hi Folks

May thanks for those words of encouragement Sue.

I have decided to do the AAT through Premier Training. Have you heard of them? Do you think they provide a good value for money?

Yes, I do agree with Steve, that you do need a good bank balance in order to do the accountancy exams!

This is who I will be doing the next level with, they seem like a good company and probably lower priced than the rest, although this will only become apparent next month when they all finalise their prices.
Be warned however that if you have to use an alternative place to do the exams,(mine would be a kaplan site) then the exams can work out quite expensive.
If you are more bothered about getting a decent learning provider then they seem to come recommended. smile

geek84 · Senior Member

I am starting on the foundation level and thinking of doing their computer based exams. Premier Training have told that although they are about £10 more expensive than the paper based exams, at least you do not have to wait until June/December to sit the exams, and you can also get your results almost immediately! It sounds good!

Peasie · Expert

geek84 wrote:

I have decided to do the AAT through Premier Training. Have you heard of them? Do you think they provide a good value for money?

Any time AAT is mentioned on this forum the name "Premier Training" always seems to crop up. I haven't head any other learning provider. So they must be doing somnething right.

geek84 · Senior Member

Hi Folks

Is it true that if you have a degree, then you do not have to do the AAT - you can go straight on to the ACCA/CIMA? Or does it depend on the type/classification of the degree?

Thanks

Shamus · Forum Moderator & Expert

Hi Manjinder,

there's no need to post the same question under different question streams.

People just tend to hit the recent posts tab and it lists the questions out regardless as to which stream they appear under.

I've answered this one under your other question.

Talk later,

Shaun.

Monlok · Newbie

Do you have any good accounting books to suggest me? i am new and need some basics...please :)

Shamus · Forum Moderator & Expert

Hi Monlok,

we need more information about you.

what do you aspire to? Are you looking to become a bookkeeper or and accountant?

Are you looking for employment or to start your own business?

What sort of background do you come from (assuming that this is not your first job).

Please fill in a little more of your reasoning behind wanting to move into theis area and I'll be happy to suggest a suitable book that would be perfect for you no matter where you are coming from or looking to get to.

kindest regards,

Shaun.

Monlok · Newbie

Monlok wrote:
Do you have any good accounting books to suggest me? i am new and need some basics...please :)

For me this book is really interesant http://accountingforgovernmentalandnonprofitentities.com/Accounting-for-Governmental-and-Nonprofit-Entities-15th.html may be you would also like to read it. Enjoy ;)

-- Edited by Monlok on Tuesday 11th of September 2012 09:42:11 PM

geek84 · Senior Member

Hi Folks

Since I was the guy who started off this thread, I thought it would be nice if I give you a bit of an update regarding my studies -

I am now on the last level of the AAT, so will hopefully I would be fully qualified before the new year.

Apart from sales/purchase ledger roles, can someone be kind enough to suggest what other job roles I could apply for with an AAT qualification?

Also, I am still playing around with the idea of whether or not to continue to do the ACCA. However, I am already approaching my mid-40s, so do you think I should forget the idea to continue with my studies? The reason being that it is not the hours that I will be putting into studying that is putting me off, it is the fact that I would need practical work experience to gain my ACCA, and nobody would be willing to take me on, as I would be approaching my 50s by the time I complete the ACCA.

Any advice would be greatly appreciated.

Spamkebab · Expert

Hi Manjinder,

I've seen you posting on the AAT forums before now, so at least i've said hello now lol.

As far as age goes, i don't think there's a limit to becoming a qualified Chartered Accountant so i wouldn't worry about that. As for carrying on studying after AAT, the way i see it is you have to complete some form of CPD so you may as well be studying and benefit from climbing the ladder.

I am looking at further study after AAT (also on level 4 at the moment) but being self funded i would only take 2 exams per year so it's going to be a long ride, that said, this will enable me to study better.

Wish you all the best which ever way you decide,

Neil.

Shamus · Forum Moderator & Expert

I suppose that depends on what you are looking at the ACCA qualification for.

To gain a practice certificate you are right, can prove near impossible and as with myself your age will count against you on that one.

Personally I've got the three years required for membership but the two years post qualification are unfeasable for me.

The other way to look at the ACCA is as a knowledge base second to none.

Once you have ACCA it is relatively simple to transfer to another body with more "flexible" rules as othe bodies are crying out for those who have been able to gain the full qualification (an awful lot who start down that path don't. I was one of 12 who started at the same time after completing the OU B680 and of those I'm the only one that's made it to the final straight.

The skills level papers are hard but the professional level papers can be complete nightmares. The exams take the forms of real life scenarios where you need to advise clients for the given scenario which tries to test depth of knowledge of the whole syllabus.

On passing full AAT will you take the exemptions or sit the papers that you have exemptions from? You have to pay for the exam either way. I took them, the other eleven took the exemptions.

If you go down the ACCA route I would advise using Kaplan complete texts, BPP I-learn cd's and Opentuition lectures as your study materials.

As for roles for AAT qualified peeps, don't forget the better credit control roles plus accounts assistant roles.

There is a lot of competition for very few roles and to be honest experience counts more than qualifications but keep at it and accept roles as stepping stones to something better.

good luck moving forwards,

all the best,

Shaun.