A world of opportunities

Transcription

1 A world of opportunities How to become a professional accountant Accountancy Finance Business Management

2 Contents A world of opportunities 3 ACCA: a qualification in demand 4 Who needs finance professionals? 6 How did I get into accountancy? 8 Where has accountancy taken me? 10 Your route to become an ACCA professional accountant 12 Alternative routes explained ACCA-X 14 Alternative routes explained Accelerate 15 ACCA Jobs Board 16 Supporting you all the way 17 The tools you need to get through your exams 17 Fees and FAQs 18 2

3 A world of opportunities How to become a professional accountant With one global qualification that provides a passport to your future; a world of opportunities awaits. This guide will help you understand how our qualification lets you fulfil your potential as a successful finance professional and business leader. How are we different from other accountancy bodies? We are truly global recognised in 181 countries worldwide We provide an opportunity to specialise in whichever area you wish, from audit to management accounting, thanks to our unique option papers We are more accessible than other qualifications; you don t need a training contract to study with us We have a transparent exam marking system, which allows you to see exactly where your strengths lie We offer an unparalleled level of study support and flexible study options We re always available with a student contact centre operating 24 hours a day, 365 days a year Finance professionals are needed across every sector, worldwide Choosing a career in finance and accountancy means your role will be vital to the smooth-running of an organisation across any sector, from fashion to financial services. The world needs well-rounded finance professionals! You can also command a great salary meaning you can have a good quality of life wherever you choose to work. Our fully qualified finance professionals can earn from 35k - 120k + p.a.* *London. Source: Hays Recruitment Salary Survey

4 ACCA: a qualification in demand With over 110 years experience, innovation and excellence, discover the fundamentals of ACCA through what we know best; numbers 400,000 Join a community of over 400,000 ACCA students 188,000 ACCA supports over 188,000 members in 181 countries 97,000 We re truly global, with 97,000 of our members working in business internationally 4

5 95 ACCA offers extensive support online, and through our 95 offices and centres globally 4 You can now sit ACCA exams four times a year in March, June, September and December to help you progress faster 90% of employers think ACCA is a world-class organisation 80% Our qualification creates and nurtures business-ready finance professionals 80% of CFOs said this was crucial to success 5

6 Who needs finance professionals? Behind every successful business is a solid finance function. ACCA works with over 7,000 approved employers and has over 80 accountancy partnerships worldwide. Here we highlight the many different sectors and roles you might apply for. 6

7 Public Practice Sector example employers Public practices provide a large range of accounting, business and advisory services to clients. They offer fee-paying services such as: audit and assurance, business recovery and insolvency, tax, management consultancy, corporate finance and forensic accounting. Potential roles: audit/assurance trainee, tax consultant, forensic accountant, business advisor and financial analyst. Starting salary: 25 32k* Public Sector example employers The public sector is comprised of not-for-profit organisations. Finance professionals in this sector help these organisations deliver value for money and manage public finances responsibly. Potential roles: finance manager, management accountant, internal auditor and financial accountant. Starting salary: 25 27k* Financial Services Sector example employers This sector primarily revolves around the management of money and complex financial products. Finance professionals in this sector must be acutely aware of the relationship between risk and return in the banking, insurance or asset management fields. Potential roles: risk manager, corporate financier and fund accountant. Starting salary: 25 35k* Corporate Sector example employers The corporate sector is where finance professionals assist and support an organisation to make decisions through business analysis, and by developing investor and partner relationships. Potential roles: management accountant, business analyst, internal auditor, risk manager and group accountant. Starting salary: 22 28k* SME/SMP example employers Working for a Small or Medium-sized Enterprise or Practice (less than 250 employees) can be very exciting as finance professionals often have more responsibility across the board and gain invaluable experience. Potential roles: finance analyst, financial accountant and management accountant. Starting salary: 20 28k* *London. Source: Hays Recruitment Salary Survey

8 How did I get into accountancy? How can you have a career in accountancy if you have a non-related degree? With multiple pathways to qualification, ACCA is available to everyone, whether you studied Maths, Science or even History. An increasing number of organisations are recruiting talent for the finance function from alternative degree disciplines. Read on to find out more. I ve had several higher level managers tell me getting the varied experience early on in your career can really help you succeed in the long term ACCA Student Sam Wragg Graduate Financial Analyst, British Airways ACCA Student since Sam Wragg has recently completed his ACCA paper F9 in Financial Management. Having graduated with a degree in molecular genetics, Sam proves that you don t need a background in finance and accounting to work in this field. How did you develop the financial understanding required for your role? Coming from a non-finance background, studying with ACCA was key to understanding the role of finance in business. At British Airways, I needed to pick up basic accounting principles very quickly in order to contribute to my team and the ACCA courses really helped facilitate this learning. Why did you choose ACCA? The ACCA qualification is renowned for its strong technical aspects, and I knew this would open up a variety of doors and allow me to make real contributions whichever path I chose. What is a regular day at work like for you? My first role was incredibly varied. In one day I could be dealing with the marketing team, ground operations, flight control, or the commercial team. I was heavily involved in forecasting, reporting and month/year end responsibilities. What advice would you give to recent graduates looking for their dream role? In the BA Finance Graduate scheme, we move teams every year. Not only is this excellent experience and great for your CV, but it also gives you a broad understanding of finance. I ve had several higher level managers tell me getting varied experience early in your career can really help you succeed in the long term. What are your long-term career goals? Do I want to work in Management Accounting, or Financial Accounting? Once I ve finished the graduate scheme I should have a much better answer, but for now my goal is to get as much experience under my belt as possible.

9 ACCA Member Vicky Westbrook Finance Director, Metcalfe s Skinny ACCA Member since 2013 As a French and German languages graduate, a career in finance was not Vicky s original plan. Her interest in finance was sparked during an internship in 2003 and from there she hasn t looked back. As one of the youngest finance directors in the country, she says that you have to be motivated and ambitious to get to the top. I m very proud to have made finance director in the time I did. It s come with hard work, though, so you can t be afraid of that. Tell us about your role I joined as head of finance and recruited two juniors over the following six months. We started by bringing the bookkeeping function in-house, and then built a month-end reporting process and upgraded our IT systems. A large part of my role is being able to quickly respond to the wants and needs of our customers and consumers. For a company in high growth, we need to make sure we re operating most effectively to keep up with the rest of the business and we re continually reviewing our processes. Why did you choose ACCA? I chose it because of the breadth of the qualification and because it s internationally recognised. There are more opportunities for working abroad, which I d like to do at some stage. It is important to enjoy your job as you spend so much time doing it What are your key tips for graduates? My advice during training would be to move around and experience a number of different finance roles from supply chain finance to financial reporting whether that s through internal roles or internships. The roles I experienced in both small and large companies before I came to Metcalfe s gave me the skills I needed to build a finance function in-house. It is also important to enjoy your job as you spend so much time doing it. I love food. To be passionate about what you are doing definitely helps. 9

10 Where has accountancy taken me? ACCA Member Kirsty Meldrum Loan Markets, Santander Global Corporate Banking ACCA Member since 2015 After the global collapse of many banks during the financial crisis, the industry is now rebuilding, regrouping and on a steep learning curve. The industry is subject to regulatory pressures as well as public and private scrutiny on a level never seen before. This means a job in banking will particularly suit an individual who finds the idea of working in a fast-paced environment exciting and challenging, which is exactly what attracted Kirsty from Santander to the industry. The opportunity to work with intelligent, hard-working people in a dynamic industry cannot be underestimated What attracted you to banking and finance? I studied Mathematics at university so for me it was a natural progression. I wanted to work in an environment that was fast-paced, constantly evolving and would require real life problem solving. I didn t know specifically what I wanted to do but I knew the banking world would challenge me and keep me on my toes. What advice would you give to graduates wanting to get into banking and finance? I would recommend getting as much experience as possible whether through internships, work experience, speaking to people in the industry or keeping updated with what s going on in the financial markets. I remember feeling quite daunted about finding a job within banking so the more informed you are the better. I spent my final year on exchange in Melbourne, so while I was there I researched local accountancy firms in Aberdeenshire (where I m originally from) and got in touch asking about possible opportunities. This worked out well because the company I worked for was small enough to tailor the work to what I was interested in and there was less competition getting the position in the first place. I have also been involved with the recruitment process here at Santander and the stand-out candidates are those that take part in a lot of extra-curricular activities and make an effort to get to know more about the industry. What do you enjoy most about working in banking and finance? The best part about working in banking and finance is the people. My role is client facing so I enjoy bringing our pitches to life, communicating what the numbers and analysis actually mean for the business. The opportunity to work with intelligent, hard-working people in a dynamic industry cannot be underestimated. I am pushed to learn as much as I can, both day to day in the office and with professional qualifications like ACCA. It is a great environment to work in if you like a challenge. 10

11 ACCA Member Amandeep Banga Financial Manager Operations, Pizza Express ACCA Member since 2013 Amandeep Banga is ambitious to say the least. In 10 years he has progressed from working as a bookmaker at Coral, to Finance Manager for Heinz, and now is the Financial Manager Operations at Pizza Express. Before landing his role at Heinz, Amandeep worked four different jobs seven days a week in order to fund his ACCA studies, qualifying in What is your education background? I am originally from India where I studied until A-Level, and then moved to the UK in I completed my diploma in Business Administration and then decided to take the ACCA route instead of university due to its global presence and clear career scope. If you cannot afford university then don t put yourself in debt. With ACCA you can achieve a stable and high profile career without attending university. Another advantage is that by the time you finish your exams you have already gained 3 years work experience, allowing you to complete your ACCA qualification and likely receive a big promotion at work. Tell us about your current role. On a regular day I am usually in back to back meetings deciding on the near and long term future of accounting matters such as CAPEX policy, system implementations, integration of new acquisitions, audit deliverables etc. Along with this, ensuring my team s morale is high, deadlines are met and objectives are delivered. What is your long-term career goal? My ultimate goal is to become CFO. A great leader has self-belief, ownership and is continuously developing, but also has the ability to lead people of high skills and calibre. What is your advice to students who want a similar career path? To aspiring finance professionals, I would say: 1) Believe in yourself; 2) Ask questions and admit mistakes, it is all about communication; 3) Learn as much as you can, and; 4) Success is a process. Always try to innovate and, even if you don t achieve 100%, count it as an achievement and a step towards success. If you cannot afford university then don t put yourself in debt. With ACCA you can achieve a stable and high profile career without attending university 11

12 Your route to become an ACCA professional accountant We have more paths to success than anyone else. Start at the right level for you, and begin your ACCA journey today. Professional Start here if you are a graduate with a relevant ACCA-accredited accounting and finance degree. You may still need to take a fundamentals paper, depending on your exemptions. Fundamentals Start here if you have a university degree that is not finance and accounting, or if you are a school leaver with a minimum of 2 A-levels and 3 GCSEs. Please note, you may still be eligible for exemptions. Foundations Visit accaglobal.com/exemptions to see exactly where you ll start. Start here if you have no relevant qualifications. 12

13 Fully qualified ACCA member Essentials P1 Governance, Risk and Ethics P2 Corporate Reporting P3 Business Analysis Options Choose TWO: P4 Advanced Financial Management P5 Advanced Performance Management P6 Advanced Taxation P7 Advanced Audit and Assurance Experience Three years relevant experience which can be gained as you study or before you start. Ethics Online module Knowledge Diploma F1 Accountant in Business F2 Management Accounting F3 Financial Accounting Skills Advanced Diploma F4 Corporate and Business Law F5 Performance Management F6 Taxation F7 Financial Reporting F8 Audit and Assurance F9 Financial Management Foundation Introductory Certificate Intermediate Certificate Diploma in Accounting and Business 13

14 Alternative entry routes ACCA-X Winner of The Society of Association Executives 2016 Award for Best elearning and Online Education, ACCA-X is an exciting online learning programme designed to support individuals who are interested in accountancy and business. Hosted on edx, an online learning platform founded by MIT and Harvard, you will receive: High quality online tuition supported by real tutors The flexibility to access and download content anytime, anywhere Discussion boards to collaborate with fellow learners I have undertaken this course as a stepping stone to a better career. I have been within accounting departments for 6 or 7 years now and finally decided to move up the ladder rather than standing still. The course has been very useful in helping me achieve these goals! Nick Bradwell Introductory Certificate in Financial & Management Accounting ACCA-X is free if you are studying towards the ACCA Introductory Certificate or Intermediate Certificate in Financial and Management Accounting. Should you wish to progress towards the Diploma in Accounting and Business and sit your exams, then you will need to pay a small fee towards your ACCA-X tuition. Either way you will have started your journey to becoming a fully qualified accountant. For more information visit: 14

15 Accelerate Accelerate is a special arrangement between ACCA and higher education providers which gives you an opportunity to register early with ACCA. You can save significantly on your fees and exemptions, and kickstart your career in finance before you even graduate. Combining your university studies with your ACCA Accelerate registration, not only showcases a commitment to your future, it in turn accelerates your professional career through access to ACCA s global network of students, members and employers. There are a number of benefits to joining ACCA Accelerate that include: Accelerated path to ACCA membership Enhanced career prospects Discounted Accelerate joining fee and reduced exemptions No subscription fees for 1 year Exclusive employability advice, including CV webinars, networking guides and more For more information visit Joining Accelerate enhances my employability, demonstrating my proactive approach towards personal development in terms of gaining a professional qualification. Pooja Pancholi Accounting and Finance (BA Hons) De Montfort University, Leicester 2016 Graduate 15

16 ACCA Jobs Board Taking you from Classroom to Career Your success is our mission. Whether an ACCA student or member, we re by your side throughout your career. Through our online ACCA Careers Jobs Board we ll make sure you re connected to the resources, education, and employment networks you need, so that you remain in demand. ACCA Jobs Board at a Glance Graduate Recruitment Discover the latest graduate schemes at major global firms, and understand how to tackle the application process. Jobseekers Insight Receive all the latest jobs directly to your inbox, along with interview advice and Q&A sessions with top ACCA members to give you inspiration on how to decide on your own career path. Profiles Read about the varied career paths that are open to ACCA students and members and gain insight into the multiple sectors that a career in accountancy can lead you to. For more information visit jobs.accaglobal.com 16

17 Supporting you all the way At ACCA, we offer you a range of study options to suit your lifestyle, budget and situation. Once you ve decided how you re going to study, we offer full support every step of the way, with a wealth of resources and a dedicated 24/7 help line. Flexible study options We have key partnerships with learning providers offering quality tuition for our students. These providers have a proven track record of getting students through their exams using a variety of methods including exam tips, study groups, case studies and past papers. For a full list of our learning partners, please visit accaglobal.com/tuition Computer based exams and exam centres For F1 - F4, there are computer-based exams available throughout the year. For papers F5 and above, you can take paper-based exams at any of our approved centres. From September 2016 we will start our phased introduction of our new session Computer Based Exams (CBEs) for the F5, F6 UK, F7, F8 and F9 exams. These CBEs will help us more closely reflect how modern financial professionals work in our assessments making you even more valuable to employers. If you have any special requirements, we can accommodate you. Full details on centres, papers, regulations and entry times can be found at accaglobal.com/exam-info The tools you need to get through your exams Join the ACCA Learning Community to: Discuss papers and study tips with peers View all past papers Read up-to-date articles and news Listen to our podcasts Download our student planner app Keep current with the latest technical articles Sharpen your study skills Improve your revision technique Get our Student Accountant Magazine 17

18 Fees and FAQs Fees Initial fees When you register, you need to pay the following fees to complete your application. Initial registration 79 (one off) Annual subscription 85 (annually) Annual subscription enables you to stay on our register as an ACCA student. You will also be able to enter for exams, attend events and fully benefit from the wealth of resources available on our website. Exam fees Depending on when you register for exams, fees can range from so registering early can mean significant savings! We have exam sittings in March, June, September and December. Early entry starts roughly four months before each sitting. To see a full list of fees, early entry information and exam centres, visit FAQs Why should I choose ACCA and not another accountancy body? Our qualification is unique in the way you can choose which route you take with your career. Our option exam papers allow you to focus on your strengths and interests you can work in any sector and any role you like with our qualification! How will I cope with juggling work, study and a social/family life? Planning your time effectively will help ensure you have set study and revision times each week and make time for doing things you enjoy too. Study skills are important; you can find a wealth of tips on our website. Do I need a degree to study ACCA? No, in fact ACCA has a multitude of pathways available to suit school leavers, career changers as well as university graduates. To find out more about a route that may suit you, take a look at our pathways diagram on page 12. I ve heard the exams are really difficult do you offer additional support? Our exams are challenging but will give you everything you need to become a really successful finance professional. Our website is packed full of information and support so you can be the best you can be in your exams. I m not sure what area I want to specialise in yet, does that matter? Not at all, as you progress through your work experience and studies, you can choose option papers to suit your interests. With the ACCA Qualification, you can work in any area from audit to management accounting. Don t limit yourself too early! How do I pay for the exams and study? It depends on your situation some employers will fund you through all of your training and some will partially fund. Some students fund themselves. What if I m still studying can I join ACCA? Yes! Joining us now means you can add ACCA Student to your CV and stand out from other candidates while looking for a job. As soon as you register as a student you can start recording your relevant work experience towards your PER (Practical Experience Requirement) and become a professional accountant even quicker. 18

19 How long will it take to qualify with ACCA? We require that all of our members qualify with three years relevant work experience, so depending on how much experience you ve accrued prior to starting your ACCA studies, the qualification can take anything from two to five plus years to complete. As you progress through your studies, you can expect a salary increase, with part-qualified accountants earning upwards of 35k p.a.* How do I register as an ACCA student? Registration is easy you can do it at any time of the year and it shouldn t take more than 15 minutes to submit the correct documents and provide us with everything we need. Make sure you have the following ready: Proof of your qualifications (Graduation documents and course transcripts). If you re still studying or awaiting documents then provide details of any completed qualifications you can then add transcripts at a later date. Proof of ID (Birth certificate, passport or driving licence) To make it easier, we accept pictures of your documents taken on a phone if you haven t got them in PDF format. How do I register for exams? To register for exams, you must first register with ACCA and pay your annual subscription fee. After you ve done this, the best way to enter for exams is to login to your myacca account where you can select your required papers. How many exams do I have to take? It depends on your current education and how many exemptions you can get. This will range from five to a maximum of 14 exams in total. To find out how many exemptions you are entitled to visit accaglobal.com/exemptions. *London salaries. Source: Hays Recruitment Salary Survey

20 If you need help with any aspect of your application, or would like to talk to someone further about the different routes and options, we have a dedicated care team, Connect, who are available 24/7. students@accaglobal.com Call +44 (0) For exam and study tips, plus info on graduate jobs and events we re running, join us on social facebook.com/uk.acca linkedin.com/company/acca Accountancy Finance Business Management The information contained in this publication is provided for general purposes only. While every effort has been made to ensure that the information is accurate and up to date at the time of going to press, ACCA accept no responsibility for any loss which may arise from information contained in this publication. No part of this publication may be reproduced, in any format, without prior written permission of ACCA. ACCA September 2016.