Why you should become an Accountant?
There are many reasons to study Accounting and Finance at university. Here are the top 5 benefits:
1. High earning potential: A career in Accountancy can be financially rewarding. Graduates becoming Chartered Accountants can expect a starting salary of up to £40,000. With further experience and relevant qualifications, you can aim to earn as much as £100,000 a year
2. Flexible career path: Graduates with an Accounting and Finance degree could pursue a traditional Accounting career as a chartered accountant, head in a completely different direction, go into investment banking, or become a mortgage advising or data analyst.
3. Global recognition: An Accounting and Finance degree offers exemptions from Chartered Accountant qualifications. Your qualification is recognised in more than 160 countries, from the UK to China, by completing the exams.
4. Always in demand: The stability of specific jobs is dependent on market trends and may even go away due to automation. However, accountants are one of the most stable jobs available, even in economic turmoil. Companies from all industries require accountants and finance professionals to manage their finances.
5. Transferable skills: An Accounting and Finance degree will help you develop advanced problem-solving capabilities, good time management, and communication skills, which will help enhance your CV and make you a desirable employee to a range of employers.
There are different routes to becoming a Chartered Accountant. Here is the most popular one:
First of all, you need to qualify for GCSE Maths. Some universities require a B/6 because basic maths is essential in an Accountancy degree.
After that, you can do your 3 A-Levels and head to university. Most universities have offer requirements, the top universities need an AAA, but the University of Plymouth has an offer of ABC to BCC. Do not worry if you cannot get the grades. You can always do a foundation course instead. Plymouth University offers a foundation course for students who have not got the grade requirements or want a better maths and business background before starting the degree.
It is important to note that a degree in Accounting is not all about numbers. There is also a lot of essay writing and analysis, with modules on Business Law, Auditing, etc. My personal favourite module would be Business Law and Introduction to Accounting because they are pretty straightforward and the information is fascinating.
You might be exempted from a few ACA or ACCA qualifications when you finish your degree. Once you complete these ACA/ACCA/CIMA exams, which are equivalent to a master’ degree, you get higher pay and status. The University of Plymouth offers nine exemptions from these exams. At the same time, other universities may vary from 3 to 6.
If you decide not to go down the university route, you can always do an apprenticeship. Apprenticeships mean you study and work part-time. Although the pay is low, you acquire work experience. You also do not have to pay £9250 student debt and interest.
Almost every accountant’s dream is to work at the Big 4 companies because they are globally recognised, prestigious, and usually give a high salary. However, their workload is hefty, and they deal with constant stress and work at late hours. The Big 4 companies include KPMG, PwC, Deloitte, and Ernst and Young.
There is a common myth saying Accountants are boring because all they do is look at numbers every day and stare at a computer. That is untrue because accountants get to work with various companies and have to communicate with their clients. As the salary is quite rewarding, you can use the money to spend on things that you enjoy doing, such as travelling and going to excellent restaurants.