Do you need a degree to be an accountant?

Starting your career in any industry can be a confusing process. But if you’re an aspiring accountant, you may find that there are many misconceptions. Common myths about accountants are that the career is ‘too hard,’ that you need to be a ‘maths genius,’ or that you need a degree. However, this is not the case.

Not only do you not need a degree to be an accountant, but there are many routes and various entry points to accountancy qualifications for you to get into your chosen career. Of course, being good at maths is a bonus, and you’ll need to understand figures to do the basics. However, complex maths skills aren’t necessary. So, if you’re no whizz with numbers, fear not, you simply need a broad understanding which will be developed while you’re studying.

We’ve talked about some of the qualifications that you don’t need. But, what are some of the possible qualifications you could pursue when working towards a career in accounting?

AAT

AAT is a great qualification to start with as it will provide you with the basics and skills needed to start your career as an accountant. The AAT qualification is broken down into three levels. These are Level 2 (equivalent to GCSE), Level 3 (equivalent to A-Level), and Level 4 (equivalent to an NVQ Level 4-5).

Upon completion of the full AAT Level 4 Diploma in Professional Accounting, you can apply to become an AAT full member and use the letters MAAT after your name which tells employers that you’ve proven your expertise. This may also give you exemptions on other qualifications such as ACCA and CIMA to become a Chartered Accountant more quickly than following a university path.*

Once you complete Level 4, you can apply to become an AAT full member and showcase your accountancy expertise by using the designatory letters MAAT after your name. You’ll also gain exemptions from chartered accountancy qualifications, so if achieving chartered status is your goal, AAT can help you get there.

ACCA Foundations (formerly known as FIA)

Similar to the AAT qualification, ACCA Foundations is an entry-level route to take to get into the field of accounting. Completing these papers will allow you to choose a suitable progression route, based on your previous experience and future aspirations.

After completing ACCA Foundations, you may want to continue onto the full ACCA qualification, where you may find some exemptions due to your prior knowledge.

ACCA

After completing the entry-level qualification, you may choose to study ACCA further to become a fully qualified chartered certified accountant. The ACCA qualification is ideal for anyone looking to specialise in a specific area or progress in your career.

After completing all of the ACCA exams across the three levels, you’ll receive a Certificate of Achievement, a Diploma in Accounting and Business, an Advanced Diploma in Accounting and Business, and a Strategic Professional Certificate.

CIMA Certificate in Business Accounting and Professional Qualification

It is also possible to go into accounting by studying the CIMA qualifications. You can begin from the Certificate in Business Accounting level, where you’ll learn the foundations and basics behind the CIMA qualification. Continuing your CIMA studies with the Professional Qualification, alongside gaining the required practical work experience will set you on the path to achieving the globally recognised CGMA designation.

You may need prior experience or qualifications to start CIMA or ACCA from the more advanced levels. However, if you’re still unsure where to start, take a look at this table to find your best route:

How to become an accountant without a degree

Now you know that you don’t need a degree, and you have some of the qualification options that you can choose from. But where do you start?

Step 1. Choose the right qualification for you

The first step is deciding on the accounting route you want to go down. There are so many opportunities and areas that you can specialise in when working in the field, so it’s good to assess your options before studying.

For many people, the AAT qualification will be the best place to start as it will give you that foundation knowledge, and a qualification, to continue your journey into more advanced studies. When you pass, the world will be your oyster! You’ll have a better understanding of what area you’d prefer to focus on, which is a great place to decide where you want to go next.

Step 2: Decide which area interests you most

Accounting usually has two main career areas: financial accounting and management accounting. Essentially, management accounting usually means that you’ll work within an organisation. You’ll be helping managers within an organisation to make well-informed business decisions. Whereas financial accounting is usually providing information to people outside the organisation. Commonly, this may be a private company or government agency.

ACCA focuses more on financial accounting, such as carrying out internal audits, preparing profit and loss statements, and controlling cash flow. CIMA is more management focused. Think creating strategies for shareholders, preparing commentaries and statements, or negotiating major projects. However, they are both internationally recognised and provide so many opportunities across the accounting industry. You may wish to work from home, work for yourself, or for an organisation. No matter what you choose, there will be many pathways to follow. Once you have an idea of where you want to be, you can make the call on where to go with your studies.

Step 3: Gain work experience

At this stage, you’ll most likely be working in the industry and applying your knowledge. However, if you’ve gained a qualification in another job role, congratulations! But now it’s time to discover the right role for you.

For qualifications such as ACCA and CIMA, you’ll need to gain relevant work experience to complete them. So, it’s important to think about where you want your new career to go. Reach out to some local businesses, apply for some positions, and see where your new skills can take you.

Step 4: Progression

After gaining your AAT qualification, you may decide to start working in the industry straight away, before furthering your studies. However, if you eventually get to a stage where you want to progress your accountancy career, studying ACCA or CIMA is a great route to help you advance.

Become a qualified accountant with Eagle, without a degree

Even without a degree, the road to becoming an accountant isn’t the easiest or the quickest. However, it is a very rewarding role which opens doors to all kinds of industries.

With Eagle, you can achieve an AAT, ACCA, or CIMA qualification with our cost-effective subscription. Take your first steps into the accounting world on your own terms. We’ll provide everything you need to know about the courses. All you need to do is bring motivation and commitment.

And if you need more inspiration for a career in accountancy, check out our guide – Why study accounting?

*https://www.aat.org.uk/qualifications-and-courses/accounting