Thinking of a Career in Accountancy?

With all the different accountancy qualifications to choose from, it's important to research the differences between them. A key factor to realise, however, is that the different branches of accountancy do point to different career paths, although they are all broadly related.

Opportunities

Openings for accountants in industry and commerce vary according to the size of the city, and tend to be with large organisations. The demand for accountants in all sectors is growing and work is available in all parts of the UK. There aOre self-employment opportunities for management accountants to become management consultants.

Once qualified, it is possible to move between private practice; industry and commerce; and the private sector to gain experience and help career prospects. Those working for a large organisation may be offered transfers within the company to advance their careers. There are many openings for accountants in senior management positions.

Here we have a brief description of different accountants roles. At the end of the article there are some useful website addresses and all the professional bodies are very happy to give to help and information.

CIPFA - Chartered Institute of Public Finance Accountants

Chartered public finance accountants work in the public services sector and employers include local and national government departments, local authorities, health services, etc. Public sector accountants assess and control the efficiency of public spending. They can work in local and government departments, audit offices, housing, education and charitable trusts. Their aim is to get value for money for any service offered to the public, within a set budget.

CIMA - Chartered Institute of Management Accountants

Chartered management accountants normally work in-house as part of the management team. Working in industry and commerce, they evaluate and give advice on the financial performance of the business they work within. Commonly known as management accountants, they provide financial information to the management team and are involved in the financial planning of the organisation.

ICAEW - Institute of Chartered Accountants of England and Wales

Chartered accountants inspect, assess and advise on the financial state of affairs of companies, partnerships and individuals. They work for accounting firms and offer services to fee-paying clients,mostly in the industrial, commercial and charitable sectors. A key role for private practice accountants is auditing. Audits are independent assessments of the financial position of a business. Accountants examine the company accounts and collect evidence to prepare and then present their recommendations for improvement, outlining the risks and consequences of current financial practices.

ACCA - Association of Chartered Certified Accountants

Chartered Certified Accountants work in both industry and private practice. ACCA training provides students with an in-depth knowledge of accounting techniques, business principles, management and IT skills, all of which enable ACCA qualified accountants to work in any area of finance throughout the world. You have the freedom to gain your work experience in private practice or in the public or corporate sectors, and are able to change both employer and sector should you desire a broader base of experience.

Do I need a maths related degree to become a chartered accountant?

Accountancy practices take on graduates from all discipline so an accountancy degree is not a prerequisite, however strong academic qualifications usually are especially helpful if you are applying for the 'Big 4' firms.

You will also need good English and maths GCSE grades and skills in another European language are always attractive. Employers in this sector will also seek strong numerate candidates who are ambitious, analytical, logical, patient, persistent and are prepared to spend long hours studying and working. Check the websites of the professional bodies above for more in depth information on the different qualifications.

Chartered Institute of Public Finance Accountants
www.cipfa.org.uk

The Chartered Institute of Management Accountants (CIMA)
www.cimaglobal.com

Institute of Chartered Accountants in England and Wales (ICAEW)
www.icaew.co.uk

Association of Chartered Certified Accountants (ACCA)
www.acca.co.uk

Institute of Financial Accountants (IFA)
www.ifa.org.uk

Financial Services Skills Council (FSSC)
www.fssc.org.uk