According to the ACCA, increases in both education and support have contributed to a significantly higher pass rate in ACCA exams taken in 2017, so what better time to consider a career in Accountancy Practice!
With over 135,000 students worldwide sitting the ACCA exams in 2017 it is clear that an increase in training has contributed to far higher pass rates than in previous years. A clear progression route for many students is to complete their ACCA exams while working in an Accountancy practice.
The 5 benefits of doing so are detailed below:
The first and most obvious advantage is the training practice accountants receive. Unlike other trainee accountant roles, perhaps in industry, a practice-trained accountant has had exposure to all facets of accountancy from a very early stage.
Be it tax, audit, accounts production and even corporate finance. With experience in each of these aspects of accounting under your belt, a practice-trained accountant is in an excellent position to map out their career path. Based on the experience attained in each of the four pillars of accounting, a practice-trained accountants will have a strong sense of which path they would like their accounting career to follow.
In the specialist training firms that I am working with, the structured learning support provided is second to none. The study support package available can be a huge help to trainee accountants as well as those qualified accountants that may be looking to become trained in tax. So if it is quality learning support, healthy study leave and expert advice you are after then accountancy practice is the right choice for you.
The variety of work available can be of huge benefit to practice accountants. Each day can be different, whether you are out on an audit, doing a stock take or working toward a tax deadline. The variety specifically lies with the clients. Each and every firm will have their own mix of clients across various industries.
Each client will require a different level of attention and test your abilities in very different ways. You will become skilled at dealing with customers who could be seeking advice or seeking answers, and you are their go to call. These interpersonal skills will be priceless to your further development.
The technical knowledge you will accumulate from training in a practice will be priceless to your future career. The range of accounting issues you will face presents an excellent opportunity to test and advance your technical skills. This frequent test of your technical accounting ability will ensure that you will gain huge confidence in your technical knowledge. This confidence in each pillar of accounting means you will qualify from practice as a more well-rounded accountant. Training in a small to medium sized practice is the best way to learn the basics of accounting. Training practices provide some of the best learning and exam support around.
With an increase in pass rates so too comes an increase in practice opportunities, win - win!