After being ACCA qualified and losing a job after 2 weeks due to the company being ruthless.( some of you may remember).
I have started my new role after being out of work for 4 weeks. I started yesterday and straight away been put on the audit for 3 weeks.
I know I am grateful I got a job but I need more experience preparing accounts, I don't mind gaining experience in audit but today all day I was photocopying and shredding, not what I imagined after slug in it out for 5 years of ACCA exams.
I am beginning to think I have made the wrong career choice but at the age of 34 how will I change careers? Life is too short but I also don't want to waste my degree or ACCA.
I want a job that I enjoy going to every day and maybe it will with time but at the moment I am thinking what next? We have got Aussie plans and have started the visa process but not sure what to do be honest.
Thank you
Replies (18)
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Only one person
There's only one person you can trust to look after your interests and that's yourself. That has prompted many to turn to self-employment.
What do you want?
That's a great question and the more specifically you can answer it the better.
Once you know what you REALLY want, then you can go for it.
MTFBWY
If you want ...
... to be a self-employed ACCA you will need to stick it out for a practising certificate!
Give it a bit more time
Hi
First of all, if you want to emigrate then that's definitely something you should explore.
But with regards to this new job, I think you're judging it a bit early and need to give it some more time.
You need to get accounts prep experience and have been assigned to audit. I have been in this position and it can be annoying.
Firstly, have you been specifically assigned to an audit department, or are you a firm where there is no separate department and you do a bit of both accounts prep and audit. If the latter, then its quite possible that there's not that much accounts prep to be done at the moment (it's only just April) and so they have got you on audits to fill the gap. Believe me, it beats sitting in the office without much to do.
Secondly, as a new starter you probably have the cheapest charge out rate of the whole company. Therefore it makes sense to get you to do the boring photocopying/filing admin tasks. They are also have no idea how capable and trustworthy you are yet so they are keeping it simple until they're confident in your abilities. With time and experience, and further studies if that is something you are doing, you will get given more engaging jobs to do.
You are obviously doing something right. You left one job, admittedly not by choice, but found yourself a new job pretty quickly. That's not to be disregarded. I have friends who are incredibly talented who have taken a year to get a foot in the door. I'm sure you were an impressive candidate and will go far, but you have to start somewhere.
Presumably accountancy is something you enjoy as you got through your ACCA. I wouldn't give up just yet if this is still true. In a year you could be in a completely different position.
So by all means look about going in Oz. But in the mean time, give this new place a bit more of a chance. Ask lots of questions, show you're keen and learning. At best, you might surprise yourself and start to love it. At worst, you get a bit of experience to go on your CV to take to your next post, wherever that is.
Good luck
Problem
I agree cannot judge a job by first day.The firm needs to monitor you to see your abilities. In small firms you can be on audit one day and payroll the next and over time you build up the experience.
As you are qualified and I hope being paid a qualified salary I don't think you can expect the firm to offer you much in the way of training other than specific training in the particular firms systems.
You will feel better in a months time and better able to make a decision re your future.
Good luck you have been through a lot.
Hold tight
I left practice in 1995 swore I'd never go back. I detested the audit work - on site at clients premises for about 9 months of every year. Some awful places too - chemical importer in Barking. car dealership in South Croydon, printers in Cockfosters to name a few. They left bad memories - pointless ticking and bashing, hours of photocopying, stock takes in the middle of winter, including several in the freezers at Smithfield Meat Market.
I set my own practice up in 2011 (when I was 44) and have to say I wish I'd had the opportunity to do it earlier.
For you I'd say hold tight, think of it as a learning experience. Use the next 2 years to get your practicing certificate and some useful experience .
If you still want out at that stage, start to try and build up your own client base while still in employment and then its just a matter of time before you can go it alone.
I've made plenty of mistakes over my career but right now I love the flexibility of working where I want, when I want and for who I want - I'm the boss.
It's my accountancy qualification and experience which has allowed me to do it.
Good Friday?
Maybe we are not the best examples!I love the flexibility of working where I want, when I want and for who I want - I'm the boss.
Audits ...
I left practice in 1995 swore I'd never go back. I detested the audit work - on site at clients premises for about 9 months of every year. Some awful places too - chemical importer in Barking. car dealership in South Croydon, printers in Cockfosters to name a few. They left bad memories - pointless ticking and bashing, hours of photocopying, stock takes in the middle of winter, including several in the freezers at Smithfield Meat Market.
I set my own practice up in 2011 (when I was 44) and have to say I wish I'd had the opportunity to do it earlier.
For you I'd say hold tight, think of it as a learning experience. Use the next 2 years to get your practicing certificate and some useful experience .
If you still want out at that stage, start to try and build up your own client base while still in employment and then its just a matter of time before you can go it alone.
I've made plenty of mistakes over my career but right now I love the flexibility of working where I want, when I want and for who I want - I'm the boss.
It's my accountancy qualification and experience which has allowed me to do it.
... aren't like that now, if they are you are doing them wrong, it is all about understanding the business, its threats and wealnesses, analysing the risks and designing tests to give maximum chance of finding errors and mis-statements. There should be no need for pointless vouching and certainly no need for reams of copying. Under ACCA and ISQC the bulk of the time spent should be on planning so you don't waste time on pointless exercises.
Friday
What's so good about it? :)
Thought I'd better catch up a bit this week after days out this week. No phone calls, hardly any emails I can get some proper work done in half the time - bliss!
hard time
Everyone goes through a tough spell and currently you are experiencing yours and think you are a little down after being let go in your previous role. I know it can be a dent on your confidence. It wasn't your fault - just circumsances
Sometimes when you start a job you do have to do the mundane jobs but once you have proven yourself sure better things will follow
Remember many jobs are just plain boring working with horrible people. Some people will never get out - you do have the opportunity
We have all done jobs we hated - just part and parcel of life i am afraid. I have had a few jobs I disliked and was sacked as was not motivated.
You are fortunate you have an accountancy degree which does give you some flexibility.
Escaping to Australia may just bring more frustration - I gather it has become more difficult for accountants there too. Also, you will be at an disadvantage having being brought up on UK Accounting and Tax
The market is picking up though still extremly difficult for accountants so you can move later - would suggest you try to learn through the job and get them to send you on some training courses then choose Australia or starting on your own.
I am finding the market difficult too as I started out as a sole practioner. There again I realise how lucky I am to be in such a profession and even though I earning a lot lot less (and will take years to reach my previous salary levels). I am happier and healthy and that what is important at the end of the day. I wish you well .
@OGA
No audits now, it was a comment on my training and (some of) the reasons why I left practice.
A properly completed audit ...
... is a fantastic management tool as it will look at the whole business, its strengths and weaknesses, both in terms of systems and threats,
This can lead on to valuable management consultancy skills in identifying opportunities to maximise revenues and how to improve controls and systems and thus reduce costs/wastage etc.
With modern accounting systems the beauty is you do not need to balance ledgers, vouch day book entries etc, you can step back and look at the whole picture which is why as I commented on another audit based thread recently accounts production and audit have moved apart and really are two separate and distinct processes now.
What I guess I am saying is audit may seem boring, but stick with it and it will make you a better accountants and far more able to add real value to a client as you will learn how to quickly understand what makes a business tick and how to tune it to perfection - this is what the better clients are looking for and will pay for it.