changing from IT to Accountancy

changing from IT to Accountancy

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Hello all

I understand this topic has been discussed some time ago but I cannot stop myself asking it again……

I am 33  working as a desktop support in IT for 3 years (started as service desk support) I have a degree in IT as well…..i came late in my life in this country hence I am 33 and only few years of experience behind me….. originally I wanted to be an accountant but we moved to UK from other European country and not sure why ended up doing IT…. It’s not that bad but I am thinking of doing accountancy. Some of the reasons are

  • The stuff I like doing, networking and server side of things…. I may not able to do it when I am 60-65-70 as the government keep increasing the retirement age…..whereas I can work from home or have my own business at that age with accountancy
  • you may say I can become manager after some years of experience but I have never had managerial skills to be honest….i can’t tell people what to do, I normally end up doing others work
  • I don’t like programming but the money is in programming that is out of the equation….
  • One of the other reasons is technology changes so fast and the courses I do with Microsoft and Cisco are not valid few years down the line or learn about new technologies (different from learning how to use it)….accountant needs to update themselves with new rules and reg but I guess it’s not the same as learning and giving exam every time a new OS or hardware comes out.
  • Plus every time a company wants to cut expenses the IT dude is the first out of the door.

If I go ahead I won’t quit my job straight away. I was thinking of doing couple of papers first then look for a job that will train me so I not without a job.

3-4 of my friends are accountant and they say it’s not bad and they love it….i am not sure if I want to go into tax, audit, management etc yet….. one says I need to do the AAT and other say I can start doing ACCA straight away….. which one is right can you tell please?????

I am not doing this out of boredom of scared of IT or anything….it’s purely a decision to make the future secure and I have done contracting work in IT for some time as well as been made redundant couple of time and I believe it will be very hard if I am made redundant when I 40 or 50 or 55 then I will be competing with young blood and people would rather employ a young person then a guy who is 55….. I am working for a company where the server guy could be made redundant and he is over 50 now can you imagine going out in today’s time and look for a job when you are 50+…….. but he was an accountant he could start his work from home thing right? An 55 years old accountant with 18 years of experience has more opportunities than 55 years old IT man in my opinion….plus where in UK you live would make a difference as well…

So is it worth changing career at this age?

Shall I do AAT or jump straight at ACCA?

Any advice on tax, audit, management?

Good tips on how to approach potential employer?

Shall I go for practice firms or big companies?

Sorry for the long lines but I thought I’d like to have you wise people’s opinion about this….

Thanks in advanced

Replies (3)

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By turtleburgers
16th Oct 2012 16:35

Do you have any previous experience in accounting in the way of work or education?

If no then you will need to complete the AAT before joining the ACCA or other professional body. Depending on how and where you study you will cover the principles of tax audit and management so that should give you guidance on which discipline to pursue a career in.

Have you considered doing an accountancy degree as an alternative to AAT? This will give you some insight to the world of accounting and provide you with exemptions from the professional level exams.

As far as which firms to approach, to put it bluntly you will find it difficult to find a training contract so late in your career as most firms favour fresh faced graduates. Competition for any training contract is tough so doing internships where possible will be a great boost for you, and perhaps open the door for full employment in the future.

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Replying to stratty:
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By tonysmcneill
17th Oct 2012 11:01

IT to Accountancy

Hi Pritlee

I can fully understand all of the reasons that you wish to go into accountancy from IT so would like to give you my advice on the matter. The following email will appear to be a bit of a brain dump so please accept my apologies.

As someone who is sitting his final ACCA exam in December, I highly reccomend them as your choice of professional body.  I was under the impression (although maybe wrongly) that no accountancy experience was required in order to commence ACCA studies other than be over the age of 18.

If this is the case, I wouldn't waste your time going to university for exemptions because I imagine that at the rate you can sit exams comfortably, being 2 to 3 every 6 months, you may be quicker doing ACCA directly.  The one argument for university would be dependent on the cost of Uni vs ACCA directly. I say this as I am Scottish and university tuition north of the border is free.

It also depends on what type of "accountancy" you want to do. If you want to be a management accountant then CIMA is your best bet, I don't know enough about CIMA so will let a CIMA accountant advise you on that.  Although, to my knowledge, CIMA provides very little coverage of taxation and this in reality is what many clients will seek your advice of. So bare this in mind before you make your choice of you are seriously considering setting up on your own in later life.

The ACCA qualification however will give you some tax knowledge and is a good "all rounder" and can give you exemptions for exams with other bodies in the future if you should choose to do this. Additionally, ACCA has a partnership with Oxford Brookes University in which you can get a BSc in Applied Accounting without doubling your workload.

The ACCA qualification from start to finish should take you around 3 years (based on first time passes) but is worth it in the end.

You can contact the ACCA directly to ask what their entry requirements are on 0141 582 2000.

I didn't really have anyone to ask these questions when I first started out so if you have any other questions regarding ACCA etc then please don't hesitate to contact me.

Good luck!!!

Tony

 

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Replying to shaun king:
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By pritlee
22nd Oct 2012 16:42

 

 

 

hey

 

thanks to turtleburgers  and to Tony much appreciate your help.......

i have no experience in accounting whatsoever so I guess I will need to start from the scratch.....

Tony, did you start ACCA without AAT? yes after reading up on it i think ACCA would be the best way to go.....i understand its a hard time to change career so i will start it on my own until i find someone who will either give me a job and/or train me.....fingers crossed....

 

thanks guy.....

if anyone has changed their career from IT to Accounting I'd love to hear from you....

have a nice day

 

p

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