Many who have an aptitude for mathematics choose to pursue a career in accountancy. Yet a career in accountancy requires more than just an understanding of maths, accountants have to be fantastic problem-solvers and be able to work in fast-paced environments both individually and as part of a team. Accountancy is increasingly becoming an internationally driven sector of the finance industry and can therefore take those pursuing the career around the world. This occupation is incredibly accessible, depending on your academic background there is a vast range of pathways which can lead to a career in accountancy. For example, whilst some choose to become an accountant after completing a university degree, others may choose to enrol in an accountancy apprenticeship straight after leaving school. The most fundamental step for those who wish to excel in a career as an accountant is to become chartered. Becoming a chartered accountant is a regulated process during which students must pass a number of accredited exams alongside practical training. There are a number of firms which you can choose to become chartered with. At Mayfair Consultants, an ACCA Tutor can offer support for those who participate in the two most prestigious accounting exams the ACA and ACCA.
What is the ACCA?
Whilst they are confusingly similar by name, the ACA and ACCA are two separate exams that have separate organisational bodies. See more about the ACA here. The ACCA or the Association of Chartered Certified Accountants is an internationally-renowned accountancy exam which can open opportunity to practice as an accountant across the globe, in a range of industries. There are a varied number of ways in which you may become an ACCA accountant. The chart below demonstrates how your academic background and individual circumstances can alter the pathway you take to becoming an ACCA accountant.
How to pass the ACCA?
Fundamentally, to become a ACCA chartered accountant, candidates must possess at least 36 months of relevant practical work experience in addition to passing 14 examinations. These exams are segregated into the following modules:
Applied Knowledge: Each exam contains 50 questions and the pass mark is 50%.
- Business and Technology
- Financial Accounting,
- Management Accounting
Applied Skills Exam style varies with each module.
- Corporate and Business Law,
- Financial Reporting,
- Performance Management,
- Financial Management,
- Audit and Assurance.
- Strategic Business Reporting,
- Strategic Business Leader
- There are also a series of advanced optional modules which can be taken for specialised areas of interest at this stage.
Ethics and Professional Skills
- Online module must be completed in addition to the other examinations.
How can we help you?
The ACCA is a rigorous and multi-faceted qualification which requires students to possess a wide-ranging skillset. Our experienced tutors can assist you with preparation for all aspects of the ACCA exam, enabling you to feel confident in each exam. At Mayfair Consultants, an ACCA tutor can tailor your study plan specially for your individual career goals.
If you would like to arrange private lessons or have any questions about our tuition services, please call us on Tel: +44(0) 207 665 6606 or you can send us an email via our contact form.
https://www.accaglobal.com/gb/en/student/getting-started/acca-qualification-structure.html Breakdown of the exam and helpful preparation resources.
An in-depth and extensive preparation guide for each of the ACCA exams.
A useful breakdown of the ACCA syllabus.
https://kaplanpublishing.co.uk/acca?gclid=Cj0KCQjwmuiTBhDoARIsAPiv6L-33C73NDWZjIKnge05G9Sh4dppu5e37qPu8pN9MgSQrxCzwIbWaOEaAlLrEALw_wcB&gclsrc=aw.ds ACCA approved preparation materials including textbooks, past papers and revision kits.
Other Useful Links:
https://bafa.ac.uk/ British Accounting and Finance Association
https://www.ey.com/en_uk/careers/students/programmes/schools EY is one of the ‘big 4’ UK accounting companies, offer a number of routes to becoming fully accredited accountant.
https://www2.deloitte.com/uk/en/pages/careers/articles/graduate-opportunities.html Deloitte offer a number of accountancy pathways.
https://www.pwc.co.uk/careers.html PwC are one of the most well-known accountancy firms in the UK.
https://www.kpmgcareers.co.uk/ Another large accountancy firm with lots of career opportunities in the UK
https://www.cimaglobal.com/Members/Your-Career/ CIMA accountancy career prospects.
https://www.grantthornton.co.uk/careers/ Grant Thornton career opportunities.
https://www.accountancydaily.co/ Keep up to date with the latest accountancy and financial news.
https://www.ucas.com/careers-advice/employment/how-to-become-a/accountant Guide to becoming an accountant.
https://www.prospects.ac.uk/jobs-and-work-experience/job-sectors/accountancy-banking-and-finance/how-to-become-an-accountant Another valuable step-by-step guide to becoming an accountant.