Save content
Have you found this content useful? Use the button above to save it to your profile.

10 things I wish I'd known before I became an accountant

29th Dec 2012
Save content
Have you found this content useful? Use the button above to save it to your profile.

I received an email today about attending a careers networking event where you can give or receive advice. Not 100% sure if I will be able to attend because of the whole nursing my baby thing but it got me thinking about what advice I would like to have given myself 10 years ago.

1. Research into all the places where you can study for accountancy.

2. Start studying as soon as you finish university or even better, while you are at university (if you have the funds) to keep yourself motivated and to keep going.

3. While you are studying and working you will have no life. ( but more of a life than being a mum to a baby and a toddler)

4. Accountancy is more of a people facing job than a hiding in an office and dealing with numbers all day as I was lead to believe.

5. The four main accountancy bodies are ACA, ACCA, CIMA and CIPFA.

6. If you want to set up your own accountancy practice make sure you work for approved accountants and keep your training records up to date and signed.

7. Accountants in industry earn more than accountants in practice.

8. Accountants in practice have more technical knowledge than accountants in industry (And will eventually earn a lot).

9. Anyone can call themselves as accountant but if you have a qualification it shows that you follow a set of rules and that you know what you are doing and won't swindle people out of money by doing sub standard work.

10. Accountants are quite a friendly and funny (!) bunch of people. Check out some popular accountancy blogs.

Tags:

You might also be interested in

Replies (10)

Please login or register to join the discussion.

FT
By FirstTab
29th Dec 2012 00:56

Great to see you
Hi Lilac1 great to see you blogging.

Looking forwarding to hearing more from you when you busy schedule allows.

Thanks (0)
Replying to carnmores:
avatar
By rlikhang
04th Jan 2013 10:46

MBA or CIMA
I am an ACMA doing management consulting. Would an MBA add any value? Some people talk about a good MBA, what is meant by a good one?

Thanks (0)
avatar
By User deleted
29th Dec 2012 10:46

If you want to go in to practice ...

... I can't see the point in going to university.

Do a business studies diploma instead of A levels, get a job and study ACCA at night school/correspondence course, you will qualify quicker, have less/no debt and be of much more practical use to the world!

Although, seeing the papers over the last week I think ICAEW may be opening up that route too!

I think the same goes for industry too. In practice you see both sides and it is frightening seeing gradute qualifieds with good qualifications wreaking accounting havoc due to learning everything but knowing nothing!

For instance, ask a newly qualified with no work experience to fill in a tax return and see what happens (and how long it takes!).

As you say at 4, one of the most important thing you will learn studying whilst working is people skills and client facing skills. I cringe listening to newly qualifieds telling a long in the tooth trader how to run his business (and I am not saying what they say is wrong, but they need to learn how to convey their suggestions / recommendations without causing offence!).

Thanks (0)
avatar
By Sarah K Dunks
29th Dec 2012 12:03

Working Mums
I also think that working for yourself as a Mum gives you greater flexibility with the children. I have friends who had high flying jobs but which aren't child friendly. Many have had to give their jobs up. We are the lucky ones who can have both. Like many, I fell into a career in accountancy but with hindsight it was a good choice.
.

Thanks (0)
avatar
By Monas
30th Dec 2012 09:30

Very interesting points. I especially agree with working and studying ACCA together which I am currently doing myself. I can more appreciate information given in books and can apply it in real life quickly then when I was at Uni. On the other hand it is true that you need to give a part of your social life for a few years. But I hope it will be worth. 

Thanks (0)
By k743snx
31st Dec 2012 19:54

7. Accountants in industry earn more than accountants in practice.

8. Accountants in practice have more technical knowledge than accountants in industry (And will eventually earn a lot).

Evidence please?

Thanks (0)
Replying to Richard Hattersley:
avatar
By User deleted
31st Dec 2012 23:40

generally ...

k743snx wrote:

7. Accountants in industry earn more than accountants in practice.

8. Accountants in practice have more technical knowledge than accountants in industry (And will eventually earn a lot).

Evidence please?

... I would agree accountants in practice have a wider range of technical knowledge, but those in industry probably have more detailed technical knowledge of the bits that directly affect them! For instance, the import/export VAT knowledge of an accountant working for a freight forwarder is likely to be vastly superior to a practitioner (as is likely to be the knowledge of import/export managers).

Thanks (0)
By A mum and an accountant
31st Dec 2012 20:19

My experience...and a bit of tongue in cheek!
This is based on my experience of going from practice to industry and back into practice again within a space of a couple of years. Although I'm still waiting to eventually earn a lot. Not sure what a lot is though. Also, I'm sure Hayes recruitment used to do some sort of salary comparison and industry always seemed more than practice. Then again I suppose it depends what level you go in at.

Thanks (0)
avatar
By Ken of Chester le Street
10th Jan 2013 18:31

In practice

Oops!

Have you not heard of ICAS?

 

Ken of Chesterle Street CA

Thanks (0)
avatar
By Bowie tony
25th Jun 2014 12:13

As an accountant we have some responsibility. From the above document  it is cleared that parents choose the best products from their baby to give them a healthy and hygienic life. It is the primary and most important responsible of parents. Baby things has no limitation, we can found several types and brand of baby products available in market. All are not good for baby, for this consider on the composition of baby products essential.

Thanks (0)