Qualifications To Become An Accountant – Do you want to hire someone with an AAT, ACCA or Xero certificate? You might be wondering what the difference is.
From the new accountant to the experienced chartered accountant, the world of accounting can seem very complex on the surface. When looking for a job in finance, you may be confused by differences in job scope, qualification levels and salaries. I wonder if all these issues are worth hiring an accountant for. To give you an idea of who’s best suited for your business, we’ve put together a short guide that compares and contrasts accountants at different levels.
Qualifications To Become An Accountant
The main qualifications offered to accountants in the UK are AAT, ACA, ACCA, CIMA and CIPFA. These certifications vary by education, competency and location.
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This qualification is for those starting accounting from scratch. It is internationally recognized and provides students with the practical skills needed to succeed in accounting and finance. The professional diploma enables chartered accountants to start their own practice, apply for accounting and finance positions, and study to become chartered accountants. Accountants with AAT qualifications often seek positions as senior financial officer, commercial analyst, indirect tax manager, cost accountant, and VAT accountant (Chalmers 2021).
Accountants often seek additional certification to become a CPA, and it can take up to five years to earn the designation. The key difference between an accountant and a chartered accountant is that the latter are registered members of a professional accounting firm. Additionally, although CPAs have experience working with other CPAs, the term ‘accountant’ by itself does not imply the same level of experience.
Recently, a new type of accounting qualification has emerged as the use of applications and software to automate accounting tasks has become more common. This includes mastery of cloud-based accounting software such as Sage, QuickBooks and Xero. With over 460,000 users in the UK alone, Xero has become one of the best cloud accounting software for accountants and offers a wide range of services, including essential additional features to fully migrate your company’s financial processes to the cloud.
Xero has created its own ‘Xero Advisor Certification’, accessible to online members, and focuses on mastering the principles of Cloud Accounting, Xero setup and use, and reporting. This allows accountants to do more with fewer resources, in less time, and at a much lower cost. Xero applications further increase productivity and efficiency by targeting and automating specific areas of accounting. For example, Float is an integrated Xero application that provides users with real-time cash flow insights, enabling better scenario planning and forecasting for future business decisions.
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Unlike regular accountants, working with cloud accounting professionals can seem intimidating and uncertain. However, cloud accountants are experienced accountants and chartered accountants who have adopted and mastered the latest industry technologies to reduce the time spent on routine, often time-consuming accounting tasks. Cloud accounting gives you more time to focus on areas that will have a real impact on your business, such as financial planning, networking or business development.
With access to accountants of all levels, our virtual finance team manages your day-to-day accounting needs for a fixed monthly fee as part of your junior accountant, senior accountant, or director’s fee. Your accounting information is always accessible to you and we will organize regular meetings to ensure you know exactly how your finances are!
For more information on which accounting process is best for your business, send us a message at https:///contact. We are always here to help you!
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Now let’s debunk some of the biggest myths and see how to become an accountant.
So what do accountants do? Simply put, accountants help organizations make financial decisions (that’s money for you and me).
But in reality, accounting is not a single profession. It is a vast field of work comprising a wide range of diverse tasks, including:
If you think this is a lot of work, you may be relieved to know that not all accountants do all of these things. Accountants tend to specialize in one of three areas. However, you can move between the three realms over the course of your career.
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Many accountants go on to college, but the most important qualification is to become a certified public accountant. It is a sign of recognition to the world that you have acquired the technical knowledge and experience to perform your duties to high standards.
Although not a UK legal requirement, all accountants worth their salt are registered with one of the following institutions:
ACA ICAEW is offered as a school/university graduate or post-secondary apprenticeship program so you can start right out of school or college.
Check out this infographic for more details on the three main ways you can become an accountant after graduating from school or college.
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One in 12 certified public accountants starts out as an accounting technician. Accounting technicians perform administrative tasks such as paying bills and preparing information for certified public accountants.
ICAEW has partnered with an organization called the Association of Accountancy Technicians (AAT) to provide a system for accounting technicians to use their existing knowledge and expertise to quickly pass the ACA and become certified public accountants in two years.
A GCSE in Mathematics with grades A*-C is required to become an accountant. Because, as in many jobs, you need to be good with numbers and be able to solve problems. Depending on the situation, GCSE grades A*-C in English are also required.
During your education, you will learn how to develop your math skills in a career-specific way, so you definitely don’t need a math degree.
How To Answer
“I thought accounting was very limited. I thought everything was based on math. But I’ve discovered that’s not the case at all. There’s so much more to it than that. Gratitude, for example, is about problem-solving and interpersonal skills, not math.” — Martha Jary, ACA intern
There are probably many important skills you don’t consider when thinking about accounting. According to an ICAEW survey, accountants ranked the following as the four most important skills in their jobs. And we don’t see “Number Handling” there?
You may have to work up to the £84,500 that accountants in the UK can expect to earn on average, but don’t worry. You may receive a stipend for the entire duration of your training.
The pay is higher, but if you’ve already decided to become an accountant, a degree isn’t necessarily the best route. A school/college graduate program or post-secondary apprenticeship is a great way to start earning money right away while avoiding student debt.
So You Wanna Be An Accountant
This couldn’t be further from the truth. The ACA is a gateway to virtually every employer imaginable, anywhere in the world.
The life of an auditor is more diverse than you might think. Over the past few years, I’ve been visiting construction sites, counting cars in hail storms, and even scrutinizing Girls Aloud’s cosmetics line! — Catherine, ICAEW Certified Public Accountant
Now that we have debunked these accounting myths, we hope you are inspired to learn more about how to become an accountant. Visit the ICAEW website to learn more about available routes.
Hello I am wondering what GCSE subjects I should take to work as a maxillofacial surgeon (rather…
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Important Accounting Skills For Workplace Success
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