As a career, accountancy offers: a graduate environment, variety, people contact, a professional qualification, high salaries and opportunities to work internationally. Accountants work in all areas of business and in the public and voluntary sectors for employers such as banks, manufacturing companies, local authorities, charities, publishers, film companies, hospital trusts, insurance companies, and universities. Many accountants work in firms of chartered or certified accountants, or use their qualification to move into general management or to set up their own business.
Accountants in industry and commerce use their financial expertise to inform management decision-making, advise other departments within their organisation, and maximise profitability and effectiveness. In the public sector, they perform a similar role but with an emphasis on ensuring value for money. Some accountants go on to specialise in particular areas after qualifying, such as audit, insolvency, tax, or forensic accounting.
In addition to paving the way to further training as a professional (chartered) accountant, studying accountancy develops transferable skills that are highly valued by employers in all sectors, including:
Several different professional bodies regulate the training and work of accountants in the UK, but, as a general rule, qualifying as an accountant will involve three years of study (in addition to a degree, which can be in any subject), exams, and relevant employment. Employers provide training for professional exams. If your work and exam results are satisfactory, early responsibility and fast promotion are available.
Selecting your training will depend on the direction in which you want to take your career. For example:
It is important that you research your options carefully before deciding which route to take. Please use the links below to find out more about professional bodies and qualifications. You can also discuss your options with a Careers Adviser within a careers interview if you need some guidance in relation to this.
While a degree is not an essential preparation for training, many employers offer graduate trainee schemes, and you can get an exemption from certain exam papers if you have a relevant undergraduate qualification. Note that some employers also look favourably on degrees in unrelated subjects – for example, a language qualification would be attractive to firms with international clients. Competition for a good traineeship can be very fierce, so a wide skill set can help you stand out from the crowd.
Once qualified as a chartered accountant, you’ll need to undertake Continuing Professional Education (CPE) to keep your technical knowledge up to date, and if you intend to work directly with clients (rather than being an employee), you’ll need to gain a certificate entitling you to practise, which involves undergoing inspections and getting insurance.
Use the Prospects website to explore career options related to accountancy.
Any good degree can be an excellent start for a career in accounting. We offer an accounting and finance degree that is is accredited by ACCA, CIMA, CIPFA and ICAS, a business management degree where you can specialise in accounting, and single accounting modules, some of which will give you exemption from accountancy exams.