Too late for ACCA???

Too late for ACCA???

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Hi
Im thinking of taking up ACCA at age 36 and wondered if any out there were in a similar position and could advise me if it would be worth my while. I have limited accounting experience and intend to do evening courses. I hope to qualify by age 40!
Also if ACCA is inappropiate what would you advise, AAT or CIPFA? Im particularly keen on CIPFA but dont work in Public Sector.
Any comments to the above would be most helpful!
Paul S.

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By Accounting WEB
15th Oct 2001 16:37

Eyes wide open
I finished my ACCA when I was getting on for 40. I already had AAT and ATII and so, in that respect I am different to your position. However, I have known people start AAT late in life, as late as their 40s, do AAT and move on to ACCA. What are they thinking about. Surely they should be looking for their Sanatogen and looking for a rocking chair.

On a serious note, it is hard work and, if you have not studied for a while, that can be hard. You won't necessarily be able to walk straight into a job and will not be able to practice under the ACCA's banner without the redlevant experience. AAT may be an option but you will need accounting experience but that can sometimes include experience in a voluntary capacity with a charity etc.

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By bridgetflett
09th Oct 2001 14:21

Life begins at 40!
When do you plan to retire? You probably have another 20 - 25 years of working life ahead of you at 40 and many consider a career change at this age. You say you have limited experience of working in accounts so you should make sure you find a niche in this very varied industry that you would want to work in and could get a job in. At 43 I am currently studying for my ACCA final exams having passed the earlier papers using evening classes at my local college. The studying is hard work and you will need an understanding family but I have not regretted doing the exams and they have given me a more interesting career.

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By Accounting WEB
08th Oct 2001 13:18

advice from the front line
As an accountant who now works in Recruitment Consultancy I would agree with some of what the previous respondents have said,especially that a full qualification is a lot of hard work with no guarantee of success so do think hard. AAT is definately a good starting point as it normally gives an exemption from the early stages of the other qualifications, and should your personal or financial circumstances change (or willpower disappear) before completing the full ACA/ACCA/ACMA/CIPFA you will still have achieved a respected and worthwhile professional qualification.

However I would caution against those who believe when they see the salaries and career opportunities open to fully qualified accountants to be FDs or FCs around 40 yrs old that if they achieve their exams at that age they would then have the same opportunities.

Unfortunately, outside the accounting profession, those norms are based on seeking individuals who qualified between ages 25-30 and have then benefitted from the further 10-15yrs experience of responsibilities and experience given to already qualified accountants.

An alternative,subject to funding and entry criteria, is to study for a 2 yr part-time MBA from a decent business school, which can offer a relevant and useful qualification and is if anything more respected from being gained slightly later in life.


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By AnonymousUser
05th Oct 2001 14:30

..what sort of work do you want to do?
At twenty ACCA is a great idea cos it can open doors and get you places where you can make decisions about what you want to do. After 30 we have to think more specifically about what we are hoping to do with the qualification as time for experimentation / trial & error gets a wee bit tight.

You need to look very carefully at what is involved in each qualification - it is a lot of hard work to throw away on something that does not actually take you to where you want to be. There is a wealth of info from each of the controlling bodies - I'm afraid you have to read all of it yourself because only you can say what is right for you.

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By User deleted
05th Oct 2001 16:19

Never too late
No go for it, see if you can get into an accountancy firm and also get experience. I believe they are crying out for experienced staff. Anyway going for a qualification shows you have a learning curve.

I started my exams at the grand age of 39, qualified 4/5 years later as MAAT and ATII (Accounting technician and Chartered Tax Advisor)

Now self employed and no looking back.

Good Luck

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