One would be getting numerous job opportunities and career options after obtaining a well-recognised Accounting and Finance degree. If you believe that you have strong analytical mind and numeracy skills, and are confident that you can efficiently manage money, you can become a successful accountant in the UK. Choose from a range of options and find out what accounting and finance degree programmes have in store for you.
Students can move on towards getting a Bachelor’s degree in accountancy and finance after completing an undergraduate degree. One can also choose to spend a year studying a certificate course in Professional Accountancy to be able to get into a more specialised field at work. The tuition fees for the same would also be quite minimal compared to full degree courses, and by focusing on the practical aspects more than theoretical ones, you will be well prepared for a more professional career in accountancy.
Studying the Right Accounting and Finance Qualifications
Accounting is sometimes regarded as an uneventful career and is even considered boring or monotonous at times. But those who are truly into this field will definitely know about the range of possibilities and scope for improvement and growth one can have. In fact, this is actually one of the most fulfilling and promising careers, and one can choose to work in either the private or the public sector.
To choose a suitable accounting career path, you need to enhance your analytical, adaptability and interpretation skills. This will help you to communicate accurate and appropriate financial information. An ideal accounting and finance course can also enable you to learn how to put forward realistic targets in order to boost business growth.
However, even if you think you have the required skills and knowledge necessary for becoming a qualified accountant, you still need to make sure that you are moving ahead with the right course. First and foremost, you will need to decide on the area in which you want to specialise and which will suit you best.
● Choose your career path wisely
You may want to do a Bachelor’s degree in Accounting and Finance. After this course, you can choose to start a job, or continue your studies at a higher level, depending upon your career objectives and future goals.
Listed below are some courses and qualifications offered by reputed colleges and universities in the UK
- AAT (Association of Accounting Technicians) accounting courses: These courses comprise three qualifications across 3 levels. They are designed to combine practical work skills with industry-specific knowledge.
- ACCA (Association of Chartered Certified Accountants) qualifications: These combine two levels, namely Fundamentals and Professionals. The modules included cover a vast range of topics from fields like business and corporate law, audit and assurance, and many more.
- ICAEW (Institute of Chartered Accountants in England and Wales) chartered accountant status: also known as the ACA qualification, and it consists of 3-5 years of practical experience at work, along with the completion of 13 modules. In collaboration with the IB (International Baccalaureate), Career-related Programme (CP), ICAEW provides students within the age group of 16-19 years in selected locations, a structured and new route into the world of financial management, financial reporting, management accounting, and even business.
- Chartered Institute of Management Accountants (CIMA) business finance award: This award highlights the most popular and widely-reputed CGMA or Chartered Global Management Accountant. The candidate is required to have already achieved a Certificate in Business Accounting at the postgraduate level.
While the AAT qualification is the minimum level for an accountant, it opens doors to higher education opportunities. In order to become a chartered accountant, one would need to gain ACCA, England and Wales ICAEW or CIMA qualifications. Many accountants would have the urge to bag a university degree in accounting and finance. However, that is more often desirable than being actually essential. It will be wiser if you consider doing only that course which would actually be beneficial for you in the long run. To be honest, even if a university degree might be beneficial for some roles, it does not have to be in Accounting.
For example, having a Mathematics and Economics at A-Level, and then pursuing an accounting degree might be advantageous. But even if you don’t go down this specialised and more focused route, you can still get the qualifications that you need. It is because professional bodies do provide courses for both students and workers at all levels.
● Choose your area of accounting specialisation
Depending on your interest, you can become an accountancy expert in areas such as:
- Corporate finance
- Business recovery and insolvency
- Forensic accounting
Accountancy and finance graduates have a chance to work in both the private and the public sectors for each of these accounting specialisms.
Is it Really Worth to Study an Accounting and Finance Degree?
Just as an accounting qualification is necessary in order to get into a desired accounting and finance field, real-life accountancy experience at the workplace is equally important. You can apply for one of the highly-paid jobs and work in a full-time position after doing obtaining an Accounting and Finance Degree. This will serve as the perfect opportunity to build and develop their required skills and experience.
Below are some advantages of studying accountancy and finance degrees.
- Being an accountant, you will be able to find your desired work in the professional field of your choice, both in the private and public sectors. Several large enterprises, as well as SMEs, would offer you good opportunities with satisfactory salary packages.
- After completing a recognised accounting degree programme, colleges and universities may offer good work placement options. This would enable you to enter the industry more easily. You can also do several internships or part-time or voluntary roles in order to get good jobs.
- You would have a number of career options in fields and roles such as –
- Chartered Accountancy
- Financial Advisor
- Financial Trader
- Insurance Brokering
- Tax Advisor
- Investment Analyst
- Apart from having good employment prospects, an Accounting course would also ensure job security. Despite the growing technological advances, there is always a high demand for qualified and skilled accountants and other financial professionals across the globe.
- The potential earnings of an accountant would also be quite high, especially for those who are planning to set up their own business or firms.
You can also secure a training contract for yourself, to help you gain work experience while continuing with further studies to gain a recognised accounting qualification.