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Is it worth studying Accounting?

Posted on 11/02/2021
Is it worth studying Accounting?

Accountants are listed in the top 6 in demand finance jobs in the UK. With a suspected 80,000 additional accountants needed by 2050.

Upon qualifying, they earn north of £35,000 per year, which increases to £70,000 within just four years of employment. After which, it’s not uncommon for senior accounting professionals to earn more than £100,000.

Aside from the exceptional salaries and abundant job market, it’s also a profession that allows you to explore your interests. Whether you’re into auditing, investments, tax or forensics, there’s an avenue of accounting to suit. 

It’s a highly skilled and disciplined field, which requires professional study to assume full accountant status. Though there are opportunities in the field that can be explored without qualifications.

Many companies provide school leaving schemes and assistant roles that offer on the job training. Most providing opportunities to progress towards professional qualifications, but you don’t have to pursue them if you don’t want to.

However, without studying for and passing specific exams, there will always be a limit to where you can go.

learndirect - Is it worth studying Accounting?

Why Studying accounting is Beneficial

Gaining accounting qualifications can be extremely beneficial for more reasons than you may have previously considered. And not all of them are directly related to the accounting profession.

Always be in demand 

Financial accountability and accuracy are essential for any business. No matter how big or how often they need assistance, every business will use an accountant at some point. They will either employ their services on a full-time basis or pay for them as and when required. So, there will always be a need for accounting professionals. This gives you a certain level of job security and scope to work in any industry that appeals to you.

Desirable for roles outside of accounting

Gaining qualifications in accounting not only makes you desirable for accounting roles but other areas of business too. Your studies will give you vital knowledge about business practices, such as financial regulations, legal responsibility, ethics and reporting. Which are valuable in top leadership roles within any organisation or when starting your own business.

Become aware and access different opportunities

Without studying courses related to the accounting profession, you may only be exposed to a handful of roles. By studying accounting, you’ll realise the multidisciplinary nature of the field. Which may introduce you to areas and specialisms you’d otherwise not have known about. From fraud and embezzlement to insolvency, estates and trust accounting. You will not only be aware of them but qualified to pursue roles in these niche areas.

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Gain hard and transferable skills

Your studies will provide evidence of a well-rounded skill set that you’ve developed to prepare you for success in business. Ticking the boxes in important areas like tax law, liabilities, financial statement preparation, auditing, internal controls and cost management. Plus, you’ll gain many other skills that are desirable to employers. Such as research and analysis, strategic and big-picture thinking, critical problem solving, time management, organisation and communication.

Stand out against the crowd

Aside from learning accounting processes to best practice standard, accounting qualifications help you stand out in a competitive job market. Many people want to pursue careers in accountancy. And it’s possible to move into accounting with qualifications from other fields and take the professional courses once employed. However, having high-level accounting knowledge from the get-go means you’re ready to hit the ground running in the role. Which, among many things, gives employers confidence in your ability and a quicker return on their investment.

Ways you can study accounting

There are numerous routes you can take to reach professional accountant status. You can work towards professional certification whilst working in accounting. Through apprenticeships or in junior roles. But you can also gain qualifications through full-time study, which can be a quicker way into the profession.

Take a vocational accounting course

Vocational courses such as those provided by the AAT are arguably the fastest route into an accounting role. You can study them online which allows you to work through them quickly and progress to chartered accountant courses sooner.

The AAT (The Association of Accounting Technicians) are world renowned. And are the leading qualification and membership body for vocational accountants in the UK. So you can be confident their courses will get you where you need to be.

You can start with a Level 2 Foundation Certificate to get a good introduction to accounting processes. Then progress to their Level 3 and Level 4 Diplomas to work through more advanced topics. Following this, you can study the relevant courses with the ACA, ACCA or CIMA to become a chartered accountant.

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Study an accounting degree

Degrees aren’t essential for accountants, but they can help you land jobs in some of the more prestigious accounting firms.

Plus, there are options to gain higher level qualifications after you complete your bachelor’s degree. Working your way through masters and PhD courses to position yourself as an expert. And becoming desirable for the most senior positions available.

University degrees also provide an excellent opportunity to gain work experience. As some courses incorporate a placement year in an accounting role. This can help you get industry ready and make it easier to secure jobs once you qualify.

Depending on the course you choose, many also include the option to explore different specialisms. Giving you the chance to get a feel for different roles and equipping you with a wide range of industry skills.

It’s also good to note that some degrees make you exempt from certain professional exams. As you’ve covered the learning material already. So be sure to check if you can claim credit for prior learning and save yourself some time later on.

Getting Started

Whichever route you want to take, learndirect can help you progress to official accountant status.

As a leading UK distance learning provider, we have many courses available that can be put towards your accounting certification. Whether that’s A Levels that help you study accounting at university, or AAT vocational courses.

All our courses are studied online, from home, so you can learn around your lifestyle. There are no structured classes and you have the ability to move through the materials at pace. Meaning you could quickly be on the way to a prosperous accounting career.

Find out more today by clicking the link below to see the many accounting courses we have available.

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