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For those of us who are numerically gifted, studying accounts can forge the way to a rewarding, stable and well-paid career. The beauty of an accounts qualification lies in the fact that all organisations, irrespective of size and industry, will at some point need an accountant’s expertise and guidance. Like lawyers, teachers and doctors, accountancy is a profession that’s held in high regard by society, it is continuously developing due to ongoing amendments to legislation and reporting standards.
So, how does one embark on the journey to become a chartered accountant? A good starting point is understanding exactly what courses are out there to help you reach your goal! There are four renowned associations offering highly acclaimed courses in accountancy.
1) Association of Accounting Technicians (AAT)
AAT produces 90% of the UK’s vocational qualifications in accounting, all of which are internationally recognised in the global financial world. Apart from this very obvious perk, AAT offers flexible courses that fit around a student’s unique schedule. Success rates peak at an impressive 92%, so it’s highly probable that students who dedicate themselves to this course will graduate. This phenomenal pass rate is also a result of the committed support and feedback that each student receives from the AAT team and the possibility to re-sit exams at no additional cost.
An AAT qualification may be used as a springboard to becoming a chartered accountant. Chartered accountants have undergone a minimum of three years’ training, have passed exams in financial management, auditing, business management and taxation and are committed to continued professional development.
The following courses outline your options to pursue a career in chartered accountancy.
2) Chartered Institute of Management Accountants (CIMA)
This course is specifically targeted at those who are eager to gain a recognised qualification in management accounting. If this sounds like you, then CIMA - the world’s largest professional body of management accountants - should definitely be your starting point. The course may last anywhere between one and four years and during this time, you can expect to delve into the areas of risk management, financial strategy and management accounting, of course!
Hungry to learn more about this course? CIMA’s official website may be accessed here.
3) Association of Chartered Certified Accountants (ACCA)
Established in 1904, this global accountancy body is well over 100 years old. This contributes to the fact that an ACCA qualification is both highly acclaimed and sought after in the accountancy world and it is on par with a university degree. The course requires students to have at least 3 O’Level and 2 A’ Level passes, which must include Maths and English. The ACCA course is flexible in that it offers students autonomy to choose how they study (options include full time and part time course, distance and online learning), how often they sit for exams, and where to carry out the work experience. One of the primary advantages of having a flexible course is that students would generally be working in an accounting position simultaneously, thus having the privilege of putting theory into practice.
These factors make ACCA the course of choice for many students whose aim is to become a well-rounded finance professional. Once the ACCA qualification has been obtained, students must apply for their warrant from the Ministry of Finance in Malta. This will allow successful applicants to act as Certified Public Accountants. Alternatively, should applicants wish to obtain a practising certificate the criterion of post qualification experience in auditing would need to be satisfied.
4) ICAEW Chartered Accountants (ACA)
With an obligatory 450 day long work experience at an ICAEW recognised employer, ACA is valued for the practical exposure it offers its students. It’s globally recognised and the ICAEW (Institute of Chartered Accountants in England and Wales) provides ongoing support to students and members throughout their careers. The first degree requirement for entry, robust coursework and the rigorous examinations ensure that ACA graduates are professionally on the ball and ethically sound.
Konnekt currently offers vacancies at both junior and senior level in accounting. Should you be in the process of acquiring either your AAT, CIMA, ACCA, or ACA qualification, or have already obtained either of the aforementioned qualifications, you may explore new job opportunities in accounting by clicking here.
Learnkey Training Institute in Birkirkara, Malta, offers Accountancy and Audit courses that you may explore here.