How Long Does It Take To Become An Accountant

How Long Does It Take To Become An Accountant How Long Does It Take To Train As An Accountant? ChaptersFollowing the AAT (Association of Accounting Technicians) CoursesFollowing The ACCA (Association of Chartered Certified Accountants) CoursesFollowing The ICAEW (Institute of Chartered Accountants in England and Wales) CoursesFollowing  The CIMA (Chartered Institute of Management Accountants) CoursesIf you have a natural affinity with numbers, are quick to identify patterns and love to solve problems, maybe you should consider becoming an accountant.Most people, when thinking about an accountant's work, think about middle age men with tiny spectacles, crunching numbers all day long on an antiquated calculator and filing tax reports all year long.While this stereotype may endure for a while longer, it could not be further from the truth. In today's business world, accountants  are  closer to consultants than they are to bookkeepers. It is true that bookkeeping remains a part of the job description, but it only accounts for a fraction of what accounting firm do (and bill big com panies for).The development of accounting softwares has made it easy to perform regular bookkeeping tasks: issuing invoices, tracking payments and costs and so on. This meant that the accountant effectively spent less time crunching numbers and had more time to analyse the performance of a company and potentially find ways to make it financially more stable and efficient.The most prominent accounting firm in the world, Deloitte Ltd., counts more than 285,000 employees spread over all continents and generated more than $43 billion for the 2017-2018 fiscal year. It has seen an increase in revenue for the past nine years and, as the biggest of the Big Four accounting firm, showed that skilled accountants are in very high demand.If you are entertaining the idea of becoming an accountant you probably want to know what you're getting into and how long it will take until your harvest the rewards of your hard work. Let's look at how long it would take you to become a Certified Accountant.Ol d fashioned bookkeeping was done with pen and paper but has since been replaced with accounting software. (UK or International).Because all ACCA modules need to be sat in order and since you can not take more than four exams per sitting it means that in practice, it will take you three to four years to become an ACCA Chartered Accountant.It used to be that you had ten years to complete all your exams but this rule recently changed as the ACCA found that Accounting laws, procedures and regulations were changing too much in that ten year period. Today you have seven years from the first exam you sit to take and pass all the required tests, failing to do so will mean that all the reviews you sat will be invalidated.As an accountant you will face figures on your screen all day long, do not forget to take a screen-break from time to time.Following The ICAEW (Institute of Chartered Accountants in England and Wales) CoursesThe ICAEW has been training accountants for more than a century and a half. It counts no less than 150,000 members and 80% of the  Financial Times-Stock Exchange 100 have an ICAEW accountant on their Finance Board.You don't necessarily need a university degree to start the ACA, and some students begin their Association of Chartered Accountant (ACA) training right after secondary school.The certification requires that you pass 15 modules over three different levelsThe Certificate Level is an introduction to the basics of accountancy, finance and business. You will also learn about assurance, law and taxation. The exams can be taken on a computer at any time (but unlike the ACCA, these are time-limited).Once all the modules completed, you will obtain a first certificate,  the ICAEW Certificate in Finance, Accounting and Business, which is recognised as a stand-alone qualification.The Professional Level includes the six more modules revolving around Business Planning, Taxation, Banking and Insurance.Finally, the Advanced Level constitutes the last ste p before being rewarded with the ACA.  Corporate Reporting and Strategic Business Management are at the centre of this level and will teach students to make strategic decisions based on real-life scenarios.The whole qualification takes three to five years to complete, but for any ACA qualification, you will need to find an  ICAEW authorised training employe and sign a training contract with them.Following  The CIMA (Chartered Institute of Management Accountants) CoursesThe CIMA was created in 1919 when the needs for a new kind of accounting was felt in the business world.For almost a hundred years, this institute has been focused on training Management Accountant, who focus on handling a company's budget, taxes, strategic planning and financial security.Like the previous accounting qualifications, the CIMA is divided into three different levels: Operational, Management and Strategic.The operational level covers the implementation of a strategy, as well as reporting on the implementa tion of the strategy.The management level has a medium-term focus. It translates the strategy decided at higher levels and communicated it to lower levels for implementation. It monitors and reports on the implementation of a strategy, and ensures corrective action is taken when required.The strategic level has a long-term focus. It concentrates on making strategic decisions and providing the context in which those decisions will be implemented.This qualification is also divided into three pillars covering nine different subjects.The Enterprise Pillar deals with the formulation of strategy, as well as its effective implementation. It emphasises how change management, project management, relationship management and the structuring of organisations can help to successfully implement a  strategy.The Performance Pillar uses the tools and techniques of management accounting and risk management to ensure that a  strategy is realistic and to monitor its implementation. It shows students ho w to use their understanding of costs to construct budgets, make decisions about prices and capital  expenditure, manage costs and manage performance. It develops the ability of students to progressively identify, classify, evaluate and manage risk.The Financial Pillar focuses on the financial accounting and reporting obligations of a company. This includes an understanding of the regulatory framework and external reporting requirements, and the ability to construct and evaluate complex financial statements to show the  financial position and performance of any commercial organisation. The  fundamentals of business tax are covered, as are the tax implications of financing decisions.In total it will take you three to four years to become a Chartered Management Accountant.Analysing financial report and understand the profitability of a potential investment is a key responsibility of Chief Financial Officers.All those accounting training are similar and take  roughly three years, but y our choice should be based on the kind of accountant you would like to become, as some of these qualifications lead more easily to certain specialities than others.You may also count on shortening your study time with guidance from accounting tutors...