Becoming an Accountant | Step by Step Guide

Accountancy is required in businesses across the world, so your skills will be in demand and well paid for.

And if in the future you want a change, an accountancy qualification will allow you to move into different areas of the financial sector. That includes banking or forensic accountancy, where you discover and investigate financial crimes.

Find out how to become an accountant.

Why choose accounting?

Accountants are always in demand, with almost all businesses needing one. Your role would include handling financial information and using this to inform business decisions.

You can be a non-chartered accountant or complete further qualifications to become a chartered accountant. The Institute of Chartered Accountants of England and Wales (ICAEW) state that a chartered accountant can earn an average salary of £134,000.

What is a chartered accountant?

A chartered accountant is more qualified and experienced than a non-chartered accountant. To gain chartered status, you have to complete a professional qualification. This involves several exams plus industry experience. Being a chartered accountant therefore means you can handle more complex accounting problems and earn a higher wage.

An accounting degree can count towards a professional qualification, exempting you from certain exams. This will allow you to become a chartered accountant sooner.

Do I need a degree?

An accounting degree can help you to become an accountant, although it is not necessary. You can go straight into business or you can complete a professional qualification to become a chartered accountant. Your degree can count towards this to help you qualify sooner. Just make sure you choose a degree that is accredited by the ACCA, CIMA or ICAEW.

Our Accounting & Finance BA (Hons) will equip you with a strong understanding of accounting and finance, and its role within business. You can also do a year in industry to put your knowledge into practice. When you graduate, you can go straight into business or complete a professional qualification to become a chartered accountant. This course is accredited by the ACCA, CIMA and ICAEW.

We also offer an Accounting & Financial Studies BA (Hons) degree. You will develop your business, accounting and financial skills. You can also complete a year in industry to build your professional skills and gain experience. This experience can count towards a professional qualification.

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What professional qualifications do I need?

You will need to complete a professional qualification to become a chartered accountant. You can choose from a number of organisations below:

The Association of Chartered Certified Accountants (ACCA)

The ACCA is a globally recognised qualification. It normally takes around 3 to 4 years to complete. However, studying an accounting degree can exempt you from some exams and allow you to complete the qualification sooner. To register with the ACCA, you need the following:

You need be enrolled on an accounting degree course or have at least 3 GCSEs and 2 A Levels.
You need to have completed the 13 ACCA exams.
You need 3 years of accountancy work experience. Being a university graduate can help you secure the work experience required after you graduate. If you take an industry placement option during your course, this will contribute towards the 3 year requirement.
You’ll need to complete the ACCA’s Ethics and Professional Skills module.

The Institute of Chartered Accountants in England and Wales (ICAEW)

The ACA qualification allows you to use the title ICAEW Chartered Accountant. This route normally takes 4 to 5 years. If you have an accounting degree, you may be exempt from some of the 15 ACA exams. This means you can qualify sooner. You can pay for it yourself or find an employer who will cover the cost of the training.

You can start ACA training straight after studying your A Levels or international equivalent.
You will need 260+ UCAS points.
You can start your ACA training as a university graduate.
You need 450 days of practical work experience.
You’ll need to complete ICAEW’s ethics and professional scepticism assessment.

The Chartered Institute of Management Accountants (CIMA)

The Chartered Institute of Management Accountants (CIMA) professional qualification is split into 3 levels each with exams. To study this course, you'll need to have completed the CIMA Certificate, Level 4 AAT, or have an accounting degree. If you have studied an accounting degree, you could be exempt from some of these exams.

Operational level - this level focuses on working with different areas of the business to implement short term decisions.
Management level - build on previous knowledge and turn short-term decisions into medium-term decisions. Learn about allocating resources, reporting and financial statements.
Strategic level - in the final level you’ll move onto long-term decisions, and look at the management and implementation of strategy.

Can I become a non-chartered accountant?

You can still work as a non-chartered accountant for many smaller or medium-sized businesses. Some of the ways to become a non-chartered accountant include:

Accounting degree

AAT Qualifications

The Association of Accounting Technicians has 3 levels of qualification that each take around a year to complete. Upon completion, you can progress onto Chartered Accountancy qualifications.

Level 2 Certificate in Accounting - this is AAT’s entry level accounting qualification, covering the basics of the subject.
Level 3 Diploma in Accounting - this builds on Level 2 developing your understanding. If you work in or have studied accountancy, you may be able to start at this level.
Level 4 Diploma in Professional Accounting - this is the final level and covers more complex accountancy theory.

ACCA Foundation Level Qualification

We hope this has helped you understand how to become an accountant. Whilst it can take a while to become a chartered accountant, the rewards are high. Knowing where you want to go can help you decide what steps to take now.

Where next?

Accounting & Finance, BA (Hons)
Our Accounting and Finance degree will prepare you for a successful career in the accounting profession.
Meet Matt
Matt turned his accountancy interests into a full-time career by making the most of all the opportunities available to him during his accounting degree course.
Monday 11 March 2024
Accounting & Financial Studies, BA (Hons)
On Accounting and Financial Studies you’ll gain valuable insights into accounting and its varied applications in business life.

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