Student considering a career in Financial Restructuring

[umop 3p!sdn]

I've just finished my A-levels and am planning on doing Economics and Accounting at University in September. In the future I would like to become a qualified accountant. Recently I've read into Financial Restructuring after being given a talk by someone who works in this field. Would I be correct in thinking that after my University course, completing a CIMA qualification would be the best next step to get into restructuring? And then maybe trying to get a placement with an accountancy firm?

I would be interested to know if anyone has any further information on careers in this field.

Thank you. Sorry if this is in the wrong section, new here :)

[highstreetsale]

Hi,

CIMA as you know if all about management accounts, which is more geared towards the organisations internal operations.

I would look at either ACA or ACCA which will be more focussed on financial accountacy and more in line with what you're looking for.

After Uni, i recommend get with a company like KPMG as they have business advisory/consultancy depts which would lead into the areas you want.

Hope this helps.

[umop 3p!sdn]

Thank you very much for your help. I'm not really sure what to look further into in terms of CIMA, ACA, ACCA etc. Could anyone explain then in layman terms? Sorry I'm not very clued up about these things :|

Thanks.

[elainec100@cheapaccounting]

Thank you very much for your help. I'm not really sure what to look further into in terms of CIMA, ACA, ACCA etc. Could anyone explain then in layman terms? Sorry I'm not very clued up about these things :|

Thanks.

Best to do the research yourself - just google them for more info.

[umop 3p!sdn]

Best to do the research yourself - just google them for more info.

Okay I've looked around a bit but can't find that much information on them. I don't know what the difference between the three are?

[Neilh]

Hi

I think the problem of looking around at the accountancy bodies is that, whilst they speak of their own merits, they don’t really give any clear indication of the differences between themselves.

CIMA is geared towards management accountancy, that is the accountancy done as part of running and managing a business – budgets/costs & analysis, financial accounting, business strategy & governance, financial management and general management. It covers less in way of tax and little in terms of audit. I was advised by a tutor (ACCA qualified) a few years back that whilst ACCA covers management accounting, it’ management accounting content tends to be more geared towards the calculation side of costs and budgets whereas CIMA also covers the wider business management issues of costs and budgets in more depth. Conversely, ACCA has a higher tax and audit content but it also includes strategy, management and financial management.

I always perceived ICAEW/ACA (rightly or wrongly) as having more in common with ACCA than CIMA. When I started CIMA several years ago my boss at the time (an ACA trained in a large accountancy practice) advised me against ACCA as she saw it as an accountancy practice qualification, even if ACCA tout it as for commerce or accountancy firms.

If you’re looking to train/start in financial restructuring, an accountancy firm with an appropriate department would seem the accessible way in. Get your degree and then find a graduate training post for ACA or ACCA. Working/training in commerce for CIMA is possible but the trainee vacancies for this sort of work would seem to be more abundant in accountancy firms.

Hope this helps.

Neil

[umop 3p!sdn]

Hi

I think the problem of looking around at the accountancy bodies is that, whilst they speak of their own merits, they don’t really give any clear indication of the differences between themselves.



That what I found.

Thank you very much for your help :)

[5up3rman]

My advice is to go to uni, and study hard and play even harder.
You will have the time of your life!
When you are getting close to your final time at uni, re-assess.
You may even find you didn't enjoy studying your courser and want to go into a different carreer path.
ACA, ACCA and CIMA will all still be around when you get round to graduating.
You will have a better idea of the industry and might have an idea of what area you want to get into.
You can apply to firms and companies and will find they have certain preferances as what they may want you to study and as the big firms usually subsidise the course you shouldn't worry about what to do after uni just yet.
But really my advise is to enjoy your time at uni, especially the first year!!
Freshers woah hooo!!!
Can you tell how much i miss those years!!
LOL

[KidsBeeHappy]

ACA is good, don't just think about the qualification, think about the training you get to get that qualification. If you join a big firm, do ACA then you'll be dropped into 30 different industries a year. And that looks pretty relevant for your future career path.

[KidsBeeHappy]

My advice is to go to uni, and study hard and play even harder.
You will have the time of your life!

But really my advise is to enjoy your time at uni, especially the first year!!
Freshers woah hooo!!!
Can you tell how much i miss those years!!
LOL


I agree with this, and hope to indoctrinate my girlies with the same lecture.