Accountancy 2

The words dull and boring are just two of the tired adjectives that are often used to describe accountancy; an assumption that is as untrue as it is ridiculous. As a career, accountancy promises to bring great success to those who prove themselves capable. This is highlighted by the fact that in 9 of the top 10 ISEQ index companies, chartered accountants hold the position of Chief Executive or Finance Director. This also demonstrates how diverse the employment field can be for those with accountancy qualifications. The cliché of a bespectacled man hunched over a badly lit desk crunching numbers into the wee hours is as mythical as a dry summer is in Ireland. 

For those entering accountancy from an unrelated field the sheer options available can be intimidating. An important consideration you will face is what type of accountancy you wish to pursue in the future as this will have direct relevance on which professional body you will join, for example the ACCA, ICAI, CIMA or CPA. Chartered accountants work in many areas of business with roles ranging from sole practitioner to the chief executive of a multinational. Chartered certified accountants are usually found in private practice, industry, commerce or the public sector. Chartered management accountants are responsible for providing financial information for the planning and control of organisations, while chartered public finance accountants handle the financial management in local and central government.

The greatest advantage of choosing to do a postgrad rather than going headfirst into the professional exams is the length of time you will save yourself by earning the relevant exemptions. A one-year full time postgraduate course will equip a student with the qualifications that would be equivalent to three years study on a part time basis. A further element to be considered is the immersion that will be the norm in a full time course, arguably preparing postgraduate students more for the intensity of the workplace than a once a week evening lecture possibly could.

Conversion courses, which are offered in UCC, DIT and DCU, are available to those with no accounting experience at third level. The only prerequisite is usually a second class honours degree, which can be in a completely unrelated topic. The accessible nature of these programmes has led to the versatility of many accountants’ backgrounds today; with many professionals having previous experience in law, teaching or IT for example. These transferable skills are looked at favourably by employers and reflect that in addition to a talent for numbers, you have other impressive qualities such as an insight into business practice, analytical abilities and communication skills.

In the current economic climate it is absolutely vital for a jobseeker to equip themselves with as many of these attributes as possible. While the qualifications are necessary, showing an interviewer that you have the capability to present complex information to clients and colleagues both verbally and in written reports will make you a real and significant candidate. The research and writing skills learnt in the MA courses add this value and through a diverse range of subjects, e.g. internet banking, will help make your CV stand out. Experience in a large number of areas has never been as important as now. David Fitzgerald, the Director of Business Development at the Institute of Certified Public Accountants (CPA) confirms this: ‘One third of our members work in public practice and the other two thirds work across all sectors; in financial services, manufacturing and so on.’ This highlights the opportunities within the spectrum of accountancy. Different roles such as treasury accountant, a revenue analyst or an operations analyst indicate the scope for diversity and specialisation.

Perhaps the most tempting factor for those considering accountancy as a career is the stability it offers in what is proving to be an extremely insecure business climate. Accountants enjoy a kind of permanence that is almost void elsewhere - justified by the fact that the need for accountants will not drop even in difficult times. Therefore accountancy remains among the top recruiting sectors in the country. The ‘Big 4’ accountancy firms (KPMG, PWC, Ernst & Young and Deloitte) alone recruited over 1,000 graduates in 2008. The continued growth of accountancy and the investment that these firms, among others in Ireland today, are making in future generations of accountants signifies the unwavering confidence in the field; making it a great choice for a potential postgraduate student to consider.

As the demand for accountants rises, so does the number of new Masters programmes and training centres across the country. Colleges offering well-respected programmes include UCD Smurfit Business School, NUI Galway, Athlone IT and DIT. One important factor to bear in mind when choosing your course is to make sure that the college has your desired external accreditation as some courses offered may be foundation courses and will not entitle you to exemptions from some of the professional exams.

For most people deciding to commit to a career path that places such value on extensive education and examination requires a worthwhile endgame. The good news for those with accountancy qualifications is that graduates starting out can expect to earn somewhere between €18,000 to €55,000 in their first year of public practice, according to a recent ACCA survey. This wage will increase steadily along with experience.

A postgrad qualification will not only greater equip you for accountancy alone, but it will highlight to prospective employers that you have an increased mobility to move freely across a range of sectors due to the diverse subjects studied. So save yourself some time and reap the benefits - search Postgrad.ie for your nearest provider.