Starting an accounting degree

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Paragon

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Good morning

I am considering switching careers (for more job stability and longevity) to accounting, and was hoping for some feedback regarding the matter.

I plan on going the CA route and then heading to management accounting.

I think I find management accounting more interesting, but think CA's are more needed/employed than management accountants? Will I be able to work as a management accountant with a CA designation? I plan on adding the CIMA accreditation about 5 years after starting my articles.

Is this a solid and realistic roadmap?

Is it better to go the AGA route?

Is SAIPA worth considering?

I have also read articles, although they mostly exaggerate, about that threat accountancy as a profession faces. Is these actually any basis for concern within the next 20 to 30 years?

Any thoughts would be appreciated.

Should I be considering business informatics?

Regards
 
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I speak from experience here. I went the whole CA route
Paragon said:
Good morning

I am considering switching careers (for more job stability and longevity) to accounting, and was hoping for some feedback regarding the matter.

I plan on going the CA route and then heading to management accounting.

I think I find management accounting more interesting, but think CA's are more needed/employed than management accountants? Will I be able to work as a management accountant with a CA designation? I plan on adding the CIMA accreditation about 5 years after starting my articles.

Is this a solid and realistic roadmap?

Is it better to go the AGA route?

Is SAIPA worth considering?

I have also read articles, although they mostly exaggerate, about that threat accountancy as a profession faces. Is these actually any basis for concern within the next 20 to 30 years?

Any thoughts would be appreciated.

Should I be considering business informatics?

Regards
Click to expand...
Dont see CA as the be all and end all. Its a path a very good one where you are well versed in Accounting, Auditing, Financial Management and Tax. In the CA route you will do the most challenging version of all of these topics.

I followed the CA route and in my CTA (hons) year realized auditing/accounting wasnt for me. I switched over to tax and the rest is history, completed my hons and masters in tax have a wonderful job that I love - 9 years in current job)

I was certain the whole CA thing was for me until I hit third year when I realized I really wanted to specialize in tax.

What is your current background?

All I can tell you is it is one of the hardest degrees, it is many hours of work in addition to your daily classes. I remember often being at university 6am and leaving 6pm to carry on working from home. This doesnt answer all your questions but it does shed some light on it, hope it helps.
 
Paragon, another route which I've seen a few people do is to become a CA by doing your articles whilst studying through Unisa. Tougher to do if your already married with kids, but not impossible.
 
Been there done that , I would not go the whole CA(SA) route unless you feel you are going to need it in what ever future career /venture you are going to follow
 
Thanks all.

Ive decided to do the degree that would enable me to go the CA route. I might deviate to management accounting before I finalise my third year subjects, but CA seems to be the accreditation with the widest range of possibilities, which will allow me the most scope for employment options I think.

I'm a little worried about the amount of work for the third year and cta subjects due to having to do them in such short a period (if I stick on the CA route), but will cross that bridge when I get to it (and not sleep).

Any further input would be appreciated.
 
Paragon said:
Thanks all.

Ive decided to do the degree that would enable me to go the CA route. I might deviate to management accounting before I finalise my third year subjects, but CA seems to be the accreditation with the widest range of possibilities, which will allow me the most scope for employment options I think.

I'm a little worried about the amount of work for the third year and cta subjects due to having to do them in such short a period (if I stick on the CA route), but will cross that bridge when I get to it (and not sleep).

Any further input would be appreciated.
Click to expand...
your background is key here, im not going to lie I dont think its impossible but very very very difficult to do CTA part time and you have to pass all 4 subjects at once
 
Will definitely be extremely challenging.

It is also unfortunately 5 subject, and I'm going to assume these subject are VERY difficult on top of that, sooooo yea, should be fun o_O

But we'll give it a go. Now that I've decided to make this change, I might as well try and do it all the way. CA would also be massively helpful should I ever want to head overseas. If I fail to go all the way to CA, Ill have the fall back to AGA and the possibility of heading to management accounting sooner (no offence to anyone in those fields, I am seriously considering those qualifications still and may switch to them by my 3rd year).

Will see where I end up, but the salary stability and job security and longevity is something I need to have as I get closer and closer to my 40's.
 
Snyper564 said:
your background is key here, im not going to lie I dont think its impossible but very very very difficult to do CTA part time and you have to pass all 4 subjects at once
Click to expand...
I might be wrong, but I think it recently changed to 2 years.
 
I would just go the CA route and see from there, it is the best cushion to fall back on. Those letters will make a huge difference in your salary and job prospects that no other AGA / SAIPA etc will see. You can also work as almost anything, depends in which direction you choose to drive your career or interest. I for example went into Internal Audit.

It will be very difficult and it will consume you. I believe its gotten a little "easier" to be a CA with exam formats etc. Last I saw people were allowed to take in files with their own notes into exams (no writing at all was allowed in my time in any of the standards).

You cant also plan this in the linear manner you are thinking. You could fail subjects, have challenging years or completely have a change of heart. You need to be clear, make a decision and go for it if you want to be a CA. Thereafter you should consider which field interests you and steer your career in that direction (finance, tax, audit etc etc).

Towards my 3rd year of articles I was questioning whether the CA was really worth it as I worked and studied part time, when I saw the offers my CA colleagues got versus those presented to me, the penny dropped very quickly.
 
Thank you very much.

I am dreading the amount of work to get the qualifications, but because of the paths it opens up, versus not having it, I think it is something worth pursuing.

Thank you also Ishouldbeworking, I was thinking along these lines - CA versus AGA/SAIPA, and am grateful that my toughtprocess/logic/reasoning wasn't clouded because of other factors.

While making this switch, and going through the effort to gain this qualification now, I might just as well try and go ALL the way.
 
I always encourage someone considering the CA route to do so. Yes it is a lot of work and difficult, even more so if you are doing it part/not straight out of school.

I was fortunate to complete my qualification normally (CTA straight out of school and then articles and board) so I was done in 7 years and age 25. I am 33 now and have been in 4 very different roles. Financial accounting, management accounting, and now Risk Management in the Banking sector.

The CA qualification offers you a large element of flexibility in terms of exactly what type of work you want to do, according to your interest. While i found management accounting interesting (i worked at a brewery), it is not the one of the higher paying areas a CA can get into. It was decent, but lower than full potential. Now that I am in banking I have moved from staring at numbers all day to a lot of report writing and less calculations. I find this more interesting as I have a large element of research and application in my role.

I was also asked to apply for a senior role in internal audit, having no internal audit background. this was on the merit of me being a CA and having been through articles. This together with having shown capability in my current area of work opened the door for me. I turned it down though as I hate auditing with a passion!

TLDR: Do it!!!
 
To add. When i was in 1st year articles, there was a guy who was in his 40s, had been pracitising as a pharmacist for yearssss, and was completing his articles. From what i can remember, he is now the lead tax director for a JSE listed company.
 
Im still planning and researching and have a question regarding a back up plan while waiting for admission to open:
If I dont make it to CA and one just compares saipa and saica articles, and a PA and an AGA, which one is prefered?
Are SAIPA articles worth it at all?
 
I think you should search jobs which require SAIPA and get a feel for it. I haven't personally encountered a job that specifically required SAIPA articles.
 
Hey Bud

Just the ramblings of someone who would have appreciated the same info many moons ago.

The long version:

Whether you make it through the program and eventually qualify as a CA completely rests and resides in your hands. The program is structured in a way where there are very limited barriers to entry all the way through the program, from start to finish. The only thing required is the sheer will and determination to see yourself to the end of the program without falling prey to the distractions along the way. These vital moments of decision will present themselves to you at the following stages:

  • In the middle of your BCom Acc / BAcc degree (whatever its called these days). Along the way you might find that a specific subject is not your friend and for some reason or the other you just cant connect with it, whether its Auditing (which many people find super boring because of the theory driven content) or Management Accounting, etc. At this point, many might decide to change their specialization purely because of their dislike for a specific module. This is something that is not an option for you. You will need to spend the time digging into the detail of these subjects, over and over again - until you are fluent in all areas of them. Repetition, repetition, repetition. Remember that failing or receiving a supplementary exam for a module does not equate to failure. As long as you truly learn from your prior mistakes and work hard to do better in the next exam sitting - you are on your way to achieving success.

  • After successfully completing your degree, you will feel great as this is a major milestone - and you should savor and enjoy it, you have worked hard ! After you have taken that moment to savor and enjoy - forget about it completely ... as you are about to enter the leg of the journey that causes the majority of potential CA's to fall by the wayside. CTA (honors in accounting, the next step after your degree), is by far the most challenging and daunting experiences - if you are not properly prepared. To successfully pass CTA, you will need to pass all 5 of the major subjects in one exam sitting (I'm not sure, if this has changed now - but this was the requirement in my day). So your preparation for your final exams in Sept/Oct - starts literally on the day you pass your last module of your degree. If you systematically work through the material and make a point of dedicating a few hours everyday to working through the study material (yes, weekends included) - you will be in a great position to pass. If you are only doing the bare minimum to pass the quarterly tests, you are doing yourself a massive disservice - and the likelihood of you passing is minimal. But if you remain dedicated and diligent, you will pass - no question here. Now why I mention that this is usually a vital moment of decision making is because those who are not prepared for the end of year exams, will leave the exam sitting feeling completely violated (mentally, physically and emotionally) - believe me I have had good mates who thought they could simply walk in and pass, without putting in the work - leaving the exam feeling devastated. Many at this stage decide to quit and leave as the thought of going through the process again from the beginning is a daunting one (especially with the way the exam left them feeling in the previous attempts) - and they pivot out into other areas within the Finance space. But this will not be you, as you are focused and dedicated and will be adequately prepared. Worst case scenario, you don't pass - get back up, learn from your mistakes, do it again. I have mates who repeated CTA 3 times, 4 times, even 5 times - and they never gave up !

  • Placing the academic discussion aside, you may find at this point that many of your peers are entering the working world with promising salaries within the corporate sector. Which, when compared to the salary that you will be offered from an article firm - will appear significantly less (ie: the article firm will pay you a reduced amount when compared to the corporate sector). This lure of perceived 'more money' by the corporate sector draws many individuals away from serving 3 years of articles at minimum wage, however you should not think of it like this at all - if you do, you will spend your entire 3 years moaning, grumbling and complaining. You should look at articles as a great opportunity to get first hand experience and in-depth knowledge into how the world of business functions and operates. If you adopt this mindset, it will be one of the greatest periods of learning and development that you will ever experience in your life. There have been numerous times during my article tenure, in which I had the most fascinating discussions and conversations with directors and business owners (ranging from listed companies to small business owners). It truly was a great period of learning, growth and development - and if you adopt this mindset it will serve you well.
The short version:

Don't over think it - just do it !
 
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Very good advice from @Daniel63 there is not even much to add, so I'll give you a bit of my story.
I've fallen trap to some of the things and my auditing lecturer at one point even told me that changing my degree might be for the best.

Some of the other distractions along the way could just be wanting to enjoy the younger years of your life.
I found that I wanted to do too much and once I buckled down, said no to parties /weekends away, etc. It's all about striking balance.
I've extended my journey by two years during undergrad, as soon as things got tough. First time was a shock, I've been used to passing everything without studying too much, but when the major subjects came in this was no longer possible. Second thing to note, because CTA requires you to pass all exams in one sitting, some institutions require you to do the same thing with the final year of your degree.

Articles is a wealth of information. Today I feel that I didn't fully extract the value. It wasn't wasted as I still find myself drawing from experience in that time (6 years on) every so often. Go into it with the right mindset, and the lack of earning potential is more than compensated for.

Some general advice: don't bother yourself with the journey of others. Walk your own, it's yours for a reason. Had I buckled down earlier I could have been further, but I love the company I work for, the people I work with and had I followed a different journey, I'd find myself in another place. I am still in my first job since articles. My articles experience was good. I'm in a top finance role at my company. Change one thing above and it would be like changing the formula, I wouldn't change a thing because it gave me life experience when I needed it along with the expertise of the qualification. All mixed together makes me who I am today.

TLDR; embrace your journey and don't give up at a stumbling block.
 
Daniel63 said:
Hey Bud

Just the ramblings of someone who would have appreciated the same info many moons ago.

The long version:

Whether you make it through the program and eventually qualify as a CA completely rests and resides in your hands. The program is structured in a way where there are very limited barriers to entry all the way through the program, from start to finish. The only thing required is the sheer will and determination to see yourself to the end of the program without falling prey to the distractions along the way. These vital moments of decision will present themselves to you at the following stages:

  • In the middle of your BCom Acc / BAcc degree (whatever its called these days). Along the way you might find that a specific subject is not your friend and for some reason or the other you just cant connect with it, whether its Auditing (which many people find super boring because of the theory driven content) or Management Accounting, etc. At this point, many might decide to change their specialization purely because of their dislike for a specific module. This is something that is not an option for you. You will need to spend the time digging into the detail of these subjects, over and over again - until you are fluent in all areas of them. Repetition, repetition, repetition. Remember that failing or receiving a supplementary exam for a module does not equate to failure. As long as you truly learn from your prior mistakes and work hard to do better in the next exam sitting - you are on your way to achieving success.

  • After successfully completing your degree, you will feel great as this is a major milestone - and you should savor and enjoy it, you have worked hard ! After you have taken that moment to savor and enjoy - forget about it completely ... as you are about to enter the leg of the journey that causes the majority of potential CA's to fall by the wayside. CTA (honors in accounting, the next step after your degree), is by far the most challenging and daunting experiences - if you are not properly prepared. To successfully pass CTA, you will need to pass all 5 of the major subjects in one exam sitting (I'm not sure, if this has changed now - but this was the requirement in my day). So your preparation for your final exams in Sept/Oct - starts literally on the day you pass your last module of your degree. If you systematically work through the material and make a point of dedicating a few hours everyday to working through the study material (yes, weekends included) - you will be in a great position to pass. If you are only doing the bare minimum to pass the quarterly tests, you are doing yourself a massive disservice - and the likelihood of you passing is minimal. But if you remain dedicated and diligent, you will pass - no question here. Now why I mention that this is usually a vital moment of decision making is because those who are not prepared for the end of year exams, will leave the exam sitting feeling completely violated (mentally, physically and emotionally) - believe me I have had good mates who thought they could simply walk in and pass, without putting in the work - leaving the exam feeling devastated. Many at this stage decide to quit and leave as the thought of going through the process again from the beginning is a daunting one (especially with the way the exam left them feeling in the previous attempts) - and they pivot out into other areas within the Finance space. But this will not be you, as you are focused and dedicated and will be adequately prepared. Worst case scenario, you don't pass - get back up, learn from your mistakes, do it again. I have mates who repeated CTA 3 times, 4 times, even 5 times - and they never gave up !

  • Placing the academic discussion aside, you may find at this point that many of your peers are entering the working world with promising salaries within the corporate sector. Which, when compared to the salary that you will be offered from an article firm - will appear significantly less (ie: the article firm will pay you a reduced amount when compared to the corporate sector). This lure of perceived 'more money' by the corporate sector draws many individuals away from serving 3 years of articles at minimum wage, however you should not think of it like this at all - if you do, you will spend your entire 3 years moaning, grumbling and complaining. You should look at articles as a great opportunity to get first hand experience and in-depth knowledge into how the world of business functions and operates. If you adopt this mindset, it will be one of the greatest periods of learning and development that you will ever experience in your life. There have been numerous times during my article tenure, in which I had the most fascinating discussions and conversations with directors and business owners (ranging from listed companies to small business owners). It truly was a great period of learning, growth and development - and if you adopt this mindset it will serve you well.
The short version:

Don't over think it - just do it !
Click to expand...
Excellent advice.
 
Not sure if this helps, but seeing as you're planning on going management accounting anyway, why not go the CIMA route?
Highly regarded, internationally maybe more than CA, and it won't mean taking a massive pay cut to do articles at the end of it.
 
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