My plan is to leave the Royal Air Force in around 5 year and in that time comple qualifications that will help me become an accountant once I leave.
My current plan is to complete a couple of A-levels (either Maths, Economics, Accounting or Business Studies) as even though I already have A-levels they are not related to accounting really.
After this I'm planning on completing AAT qualifications that will enable me to hopefully find a job in the accounting industry. From then on the goal will be to become a chartered accountant.
Does this seem like a good roadmap for achieving a job as an accountant or is there other things that I should consider? I'm currently 21 so will will be mid-to-late 20s when leaving the RAF.
Replies (18)
Please login or register to join the discussion.
It sound reasonable. If your A levels are sufficient to get you into AAT now don't waste time doing more, put that time into doing the first level AAT exams, you'll be at least 1 year ahead of schedule.
Sounds pretty sensible to me.
Be prepared for a low salary while training and getting experience. Once qualified with experience under your belt, it will make up for it.
Only do it if you have a genuine interest and passion for the profession. Be prepared to work long hours, under constant stress and tight deadlines. Just being honest mate.
Good luck. I personally wouldn't want to get in to accounting now with all the up and coming changes but your young enough to handle it I guess.
Provided you have good A levels already you could apply for a training contract straight out the RAF. I wouldn’t do A levels or AAT.
I would find out the entry level requirements for the ICAEW firms and contact them if necessary.
The big accounting firms are increasingly open to non-graduate entrants. I believe some offer 'degree apprenticeships' in parallel with gaining a professional qualification. With your prior experience, they may find you an attractive candidate.
Don't sell yourself short by aiming for AAT. If you think you can handle the studying, go directly for one of the 'senior' qualifications.
Don't undersell yourself.
Ex-forces staff have many transferable skills that a graduate trainee won't - timekeeping, routine, discipline and resilience. Its a different world though.
You do not say if you are looking for a career in industry or practice, but it maybe worth looking at the CIPFA route and training as an accountant in a governmental body. The workplace would perhaps be less of a shock of moving from the RAF to practice.
Do the RAF or any of the other armed services offer accounting opportunities and have you investigated those? One of my accountancy tutors when I was studying for Cima trained as an accountant with the army.
One thing I will say is - don't over do the exams without experience.
The job market is awash with "over exam qualified, under experienced" staff.
As an accountant running a small practice I get offers on a regular basis for people so desperate for experience they are willing to work for free.
Think of it like doing press ups. You are only as good as your weakest arm unless you are one of those guys who does it with one arm, but even those can only do a few vs knocking out 100's with both.
If doing some self study, the best thing to get fluent at is double entry bookkeeping which is the corner stone of being an accountant. "Frank Woods 1" is something you can plow through on your own, and if if you can do it backwards will put you in a good place whatever formal study you do as whilst the others are scratching their heads looking for their debits and credits you will be cementing your knowledge. Much more use than A-level maths (I have an A-level in Maths)
The job market is awash with "over exam qualified, under experienced" staff.
So true, and it really annoys me that the profession operates like this. Far too many inexperienced people in higher roles.
It is crazy.
I only run a small practice but I'd rather pay someone experienced who's good at the job rather than someone who has passed exams with little to no experience. Unless they take on a trainee role and I'm training them of course.
How some people get higher roles and stay in them is confusing, surely the company either charges huge amounts to their clients to cover the cost of paying someone a high wage but taking forever to do a job (not even thinking of the standard of the work) or makes very little profit by the time it's finished and the bosses have spent ages fixing the problems caused by the lack of experience.
I just don't see the thinking behind it
Yes, I have seen that happen in practice many times! From the industry side, you have 'newly qualified' accountants going straight into Finance manager/financial controller roles and they lack experience for it. They then try to hire experienced accountants to pick up the pieces and do the majority of the work. It's a shocking profession at times. It does beg the question, how do some people get into these roles? Must be blagging all sorts at interview stage!
Good point, I was just thinking about practice. In industry you could probably get away with it because you only need to blag your way past the company bosses who probably aren't as knowledgeable of accounts. In that scenario exam qualifications could be viewed to assume the quality of their work.
Then they could blag their way through the job for around 18 months depending on the timing of getting the job until the accountants prepare the year end accounts and realise how bad their bookkeeping is and mention it to the bosses of the company
Hi,
There are different types of 'Chartered' accountant. I am what is known as a 'Chartered Management Accountant' (ACMA).
If I recall, (and going back a few years) the RAF trained a significant number of CIMA members, so this might be something you might want to look at.
If you already have A levels (in whatever subject) I wouldn't worry about doing any more.
If you can proceed directly without doing AAT I would consider that too.
If you definitely want to be an accountant I would just go straight into the AAT, I wouldn't bother with the A-Levels. You probably already know this but make sure to use your ELCAS credits and find an ELCAS approved provider and you will be able to do AAT Level 2, 3 & 4 for basically free!
....and join one of the many others who have passed the exams but know nothing at all................
Its' a fantastically bad idea to do exams outside of an accounts department in business or practice environment.