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Old 10 Aug 20, 04:09 PM  
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niccynoo66
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Originally Posted by TinksandFlynn View Post
Just wanted to mention the NHS has a great graduate training scheme for people wanting a career in finance/accounting. It can also be extremely rewarding in the type of work you get involved in.
Also the apprenticeship option is becoming more popular and I think will continue to grow.
For the graduate scheme you tend to study CIMA, ACCA and CIPFA; for the apprenticeship scheme you tend to start with AAT and then move onto ACCA etc.
I will look into this, I have been looking on NHS jobs at apprenticeships but not seen this.
AAT does seem to be what the apprentice roles are offering, we have their latest brochure so will have a re read as it will make more sense after reading everyones answers,
thanks x
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Old 10 Aug 20, 04:13 PM  
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Originally Posted by Claudette View Post
The two options are industry or practice. Being in industry means that you work for a single specific organisation. Being in practice means providing accountancy services for multiple clients.

You will find chartered accountants in both industry and practice. The ACCA and CIMA also have chartered status but people tend to think of ACA when they say chartered accountant.

These days I rarely see a job advertisement for my level of experience that specifies a particular accountancy qualification over another. However in the early years in a start in practice at a Big 4 will be a big selling point, over time experience will count just as much.

Although accounting apprenticeships are gaining popularity, there are going to be fewer openings than there will be for graduate trainee accountants. So I also would not rule university out at this point. Why does he not wish to go to university?

Although I stick to my earlier advice that there is no need to think of a specific branch of accountancy at this point, I also agree with Mitch that opportunities in forensic accounting are more likely to be in practice. I have nearly 30 years industry experience with multinational financial services companies and have never come across a forensic accountant.
Again, really insightful , thank you. He has never really expressed an interest in uni even though he is very academic, did really well in GCSEs and hopefully will get his predicted grades at A Level. He has worked part time since he was 14 and certainly likes earning his own money !
Also he has attended a few open days now by companies (eg Severn Trent, HSBC) and has seen the opportunities they are offering and now is looking at companies offering accounting apprenticeships.
thank you
However I am trying to encourage him to keep options open
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Old 10 Aug 20, 04:41 PM  
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I work in public sector. Our external auditors are from the Big 4. The graduate trainees are allowed a certain amount of attempts at exams, failures after that mean you would be let go. It's very competitive.

I'm AAT qualified, followed by CIMA with conversion to cipfa all done while working full time.
I think university is an expensive option to get into accountancy nowadays. You study and rack up student loans / use of savings/ parental contributions and at the end you're still not a qualified accountant. It was probably different when it was student grants rather than loans.
We had a part time student doing casual work in our office. He was studying for a degree. A few months in he told me he'd decided to follow the AAT route (the majority of the accountants in our office came the AAT route) and earn money \ experience as he went. He's now got an AAT trainee position with the NHS who wi!l pay for training with day release. He loves it.

I would look at the different routes to getting qualified via a degree, AAT or foundation as an accountant. For example it took me 6 years, 2 years as a BTEC which exempted me all but the last year of AAT and then the AAT gave me exemption from first year of CIMA so 3 years here. We had a graduate trainee who did 3 years at University and then spent 4 years doing her accountancy qualifications, so 7 years.
It's worth noting AAT is a well respected qualification on it's own.
Maybe ask for work experience. We usually have A level students each year.
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Old 10 Aug 20, 06:34 PM  
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Originally Posted by Noodle500 View Post
I work in public sector. Our external auditors are from the Big 4. The graduate trainees are allowed a certain amount of attempts at exams, failures after that mean you would be let go. It's very competitive.

I'm AAT qualified, followed by CIMA with conversion to cipfa all done while working full time.
I think university is an expensive option to get into accountancy nowadays. You study and rack up student loans / use of savings/ parental contributions and at the end you're still not a qualified accountant. It was probably different when it was student grants rather than loans.
We had a part time student doing casual work in our office. He was studying for a degree. A few months in he told me he'd decided to follow the AAT route (the majority of the accountants in our office came the AAT route) and earn money \ experience as he went. He's now got an AAT trainee position with the NHS who wi!l pay for training with day release. He loves it.

I would look at the different routes to getting qualified via a degree, AAT or foundation as an accountant. For example it took me 6 years, 2 years as a BTEC which exempted me all but the last year of AAT and then the AAT gave me exemption from first year of CIMA so 3 years here. We had a graduate trainee who did 3 years at University and then spent 4 years doing her accountancy qualifications, so 7 years.
It's worth noting AAT is a well respected qualification on it's own.
Maybe ask for work experience. We usually have A level students each year.
I think 6 years is the normal grad route, depending on what your degree was in and how many exemptions you get. I did a 3 year degree then I had 11 ACCA exams left to do after exemptions, which I did in 3 years. Some degrees had more exemptions depending on modules picked etc. I didn’t have to do the first law exam because I chose law modules at uni.
Totally agree AAT is very useful for transactional finance jobs, but it sounds like OP’s son will be aiming higher than that.
For me (going straight into industry) I always say that the cost of uni isn’t worth it these days for that route.
However practice is harder, and something like forensic accounting is very very specific. It’s also traditionally snobbier, although I’ve had plenty of snobbery in industry, there is much much less of it.
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Old 10 Aug 20, 06:54 PM  
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Hi OP I hope you don’t mind me jumping on this thread but this is the industry my DS15 is looking in to.

He’ll need to look at his options for 6th Form after Christmas and isn’t sure what is the best route.
His school offer the AAT Accountancy, Level 2 & 3 I believe, but I’ve read they don’t account for UCAS points so if he was to do this alongside 2 A Levels then he wouldn’t have enough points to go to Uni.

He’s not decided whether Uni is a path he wants to go down but I would like him to have the option, however the AAT qualification would be great to do as he would potentially be one step ahead of others by the age of 18 when he finishes.
Would doing A Level Maths be a must?
He’s looking into Chartered Accountancy but it’s obviously early days yet.
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Old 10 Aug 20, 07:13 PM  
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Hi smith lane 😃
No not at all x I think they need plenty of help so ask away x
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Old 10 Aug 20, 07:28 PM  
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Originally Posted by smithlane View Post
Hi OP I hope you don’t mind me jumping on this thread but this is the industry my DS15 is looking in to.

He’ll need to look at his options for 6th Form after Christmas and isn’t sure what is the best route.
His school offer the AAT Accountancy, Level 2 & 3 I believe, but I’ve read they don’t account for UCAS points so if he was to do this alongside 2 A Levels then he wouldn’t have enough points to go to Uni.

He’s not decided whether Uni is a path he wants to go down but I would like him to have the option, however the AAT qualification would be great to do as he would potentially be one step ahead of others by the age of 18 when he finishes.
Would doing A Level Maths be a must?
He’s looking into Chartered Accountancy but it’s obviously early days yet.
I would’ve thought A Level Maths was a must, my son found it quite a jump from GCSE to A Level, he got A* at GCSE & then only a B at A Level & that was with a Tutor too
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Old 10 Aug 20, 07:34 PM  
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Originally Posted by niccynoo66 View Post
Hi smith lane 😃
No not at all x I think they need plenty of help so ask away x
Thank you! Yes I totally agree they need all the help they can get
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Old 10 Aug 20, 07:39 PM  
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Originally Posted by ClaireNJ View Post
I would’ve thought A Level Maths was a must, my son found it quite a jump from GCSE to A Level, he got A* at GCSE & then only a B at A Level & that was with a Tutor too
That’s what I thought but I spoke to someone who’s DS took Economics but I’ll be honest and I haven’t looked into it in any depth yet.
We have lined up a Maths tutor for September to help secure him a high grade, I’ve heard the jump is huge from GCSE to A Level so hope he’s up to the challenge 😳
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Old 10 Aug 20, 07:42 PM  
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Originally Posted by ClaireNJ View Post
I would’ve thought A Level Maths was a must, my son found it quite a jump from GCSE to A Level, he got A* at GCSE & then only a B at A Level & that was with a Tutor too
A-level maths not a must in the slightest. I didn’t choose it, my best friend who is an accountant didn’t choose it either, nor did many of the guys at work. It’s number heavy obviously, but not super maths heavy really, basic formulas and tonnes of percentages etc but once you are past the exams stage excel does most of the hard work for you.

I think that choosing traditional subjects that you think you’ll get top grades in is the way to go.

Smithlane - that’s a tricky one, if he isn’t going to uni then I’d defo do AAT.
However normally if going the traditional route I say no btec’s or anything, solid old school a-levels.
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