How To Become An Accountant

How to become an accountant

Accountants ensure that companies are financially sound and compliant with national legislation, and their services range from auditing to financial advice. The accountancy profession remains relatively stable, regardless of economic context, and financial rewards for chartered accountants can be substantial, particularly for those who gain recognised professional qualifications alongside a strong academic background. While a good deal of emphasis is placed on training and experience, accounting positions with FTSE companies and renowned international corporations can usually only be secured with serious dedication and a good postgraduate qualification, often combined with membership of a professional accounting body such as ICAEW, ACCA, CIMA or CIPFA.

AAT qualification

Accountancy is one of the more competitive industries, where entry is not guaranteed without a degree or occasionally a Higher National Diploma (HND). Some employers will be satisfied with an Association of Accounting Technicians (AAT) qualification, which can lead on to training for chartered accountant status via exemptions and progression routes into bodies such as ACCA, CIMA and ICAEW. AAT Level three and Level four diplomas, combined with relevant work experience, are now a common pathway into junior accounting roles and degree-level apprenticeships in the UK.

Undergraduate qualifications for accountants

Entry into the field of accountancy is open to graduates from a wide range of disciplines and, although many will have business or accounting degrees, some will have studied maths, science, arts, languages or social sciences. A Certificate in Finance, Accounting and Business (CFAB) from ICAEW can also be useful in securing a training contract or demonstrating commitment to the profession.

In the UK, students who wish to combine work and study increasingly consider higher and degree apprenticeships in accountancy and taxation, which allow them to earn a salary while working towards a recognised professional qualification and, in some cases, a degree. These routes can be attractive alternatives for graduates who want to avoid further full-time study yet still progress to chartered status.

Global accreditation

In the UK, there are several leading professional institutes of chartered accountants, and entry requirements and study routes vary slightly.

Institute of Chartered Accountants in England and Wales (ICAEW) and its equivalent bodies in Scotland and Ireland: Chartered Accountants Ireland (overseeing Ireland and Northern Ireland) and the Institute of Chartered Accountants of Scotland (ICAS)
The Chartered Institute of Management Accountants (CIMA)
The Association of Chartered Certified Accountants (ACCA)
The Chartered Institute of Public Finance and Accountancy (CIPFA), for those specialising in public sector finance

Entry requirements for training contracts and professional programs have become more flexible and are no longer based solely on fixed minimum A-level grades or UCAS tariff points, with many employers operating their own competency-based recruitment processes.

Graduates studying for the ACA qualification with ICAEW typically complete three years of practical training, including exams, professional development and ethics modules. On completion, an ICAEW qualification could lead to a career in audit, assurance, forensic accounting, corporate finance, business insolvency or tax advice; you will be qualified to sign off audited accounts for other companies, as well as to hold roles such as accountant or finance director. Prospective students need to hold a qualification that would match UK university admission standards such as A-levels. If you don’t meet the entry requirements you can complete the ICAEW CFAB as an alternative route in.

To become a Chartered Accountant, you must meet ICAS’ entry requirements (which include a school-leaver route, as well as graduate entry and a professional apprenticeship routes) and enter into a training contract with an ICAS authorised employer. Graduates studying for the ACA qualification from the Institute of Chartered Accountants also need three years of practical training.

With a qualification from CIMA, you will be able to work as an accountant or finance director in industry and focus on management accounting and business strategy, but you will not usually sign off statutory audit reports for other businesses. With the ACCA, you can qualify for statutory audit work (subject to meeting practical experience requirements and local regulatory rules) and develop broader expertise in financial reporting, tax and assurance. For those specialising in the public sector, a qualification from the Chartered Institute of Public Finance and Accountancy (CIPFA) offers the title of Chartered Public Finance Accountant and opens pathways into government and public sector finance roles.

Find your PERFECT POSTGRAD PROGRAM

Training as an accountant

How to become an accountant Securing a training contract with an approved employer is one of the most competitive steps in becoming a chartered accountant, as employers typically look for strong academic performance and evidence of core professional skills and, in some cases, in excess of 300 UCAS points. Any pre-entry work experience, such as vacation schemes, internships, shadowing or work placements, will be very helpful in demonstrating motivation and an understanding of the profession.

Competition is tough and the selection process can be rigorous, with employers seeking evidence of leadership, numerical ability, analytical and problem-solving skills, IT proficiency, organisation and strong communication and interpersonal skills. Recruitment cycles often start early, and many graduate schemes open applications one year in advance; some employers close applications on a rolling basis rather than by a fixed date, which is a good reason to start applying in the autumn term of your final undergraduate year. Companies frequently organise recruitment fairs, virtual insight events and campus presentations, or provide short courses and open days to help students learn more about the profession.

Accountants are expected to abide by relevant professional codes of ethics, such as those issued by ICAEW, ACCA or CIMA, in their daily financial operations, and any training or pre-entry work will require familiarity with these.

Accountancy postgraduate qualifications

After taking a degree, accountancy exams with any of the professional bodies mentioned above will probably take another three or four years to complete, during which time you could also take up an MBA, MA or MSc in Accounting and Finance to further your career prospects. The MBA is a relatively modern postgraduate degree, whereas the masters degree has a much longer history, but both are now well established in business education worldwide.

According to 2024 Graduate Labour Market Statistics from Gov.uk, the employment rate for postgraduates was 90%, compared to graduates (87.6%) and non-graduates (68%). Finance specific stats from the University of Bath, also reveal that 76% of its graduates from the MSc Accounting and Finance classes of 2022 and 2023, accepted a job offer within three months of completing their degree – with 38% heading to work in auditing, 38% taking up a job in finance and 16% entering the banking profession.

Postgraduate finance employment outcomes

University type	Programme focus	Employed within three months
Russell Group university	MSc Finance	91% (LSE Department of Finance)
Research‑intensive UK university	Master of Finance	78% (University of Cambridge)
UK management school (accounting focus)	MSc Accounting and Finance	76% (University of Bath)
UK finance‑specialist business school	Masters in Finance	90% (London Business School)

MBA or masters degree for accountants?

Choosing between an MBA and a masters degree is a matter of what you believe to be the most relevant qualification for your personal goals. An MBA offers broader coverage of topics such as strategy, leadership and operations, although there are options to specialise through electives, while a MSc in Accounting and Finance or MSc in Accounting and Financial Management will focus more directly on technical accounting and finance content.

If you wish to specialise in a particular aspect of business and already have a clear career path in mind, then a masters degree may be the best option for you, especially if you have a major strength in accounting or finance but less interest in other business subjects. If you want a broader range of business-related skills to help you progress into senior management, work in organisations with less rigid structures or develop an international career, then an MBA could be just as useful. MBAs are intensive, research- and practice-oriented programmes that combine theory and application, while many accounting and finance masters programmes emphasise technical skills, quantitative analysis and independent learning through lectures, seminars and project work.

Aside from delivering expertise in daily accounting procedures, postgraduate courses broaden a candidate's horizons in their search for the ideal job, as employers offering higher-level positions often look for the advanced skills and professional maturity nurtured by these programs. Programs are usually taught by experienced academics and practitioners who incorporate up-to-date research, case study examples and global data to enhance students’ career prospects in financial management and accounting.

Different types of accountancy masters programs

Postgraduate degrees with global recognition, such as the hundreds offered by British institutions are challenging programs with flexible yet rigorous schedules which provide comprehensive knowledge of management accounting, investment, finance and financial accounting, with integrated application in today's business context.

An MSc in Accounting and Finance, such as those offered by Durham University or an Accounting and Business Management MSc, like the one offered by the Brunel Business School, aims to provide students with the skills they need to secure a senior level position in accounting or financial services. Furthermore, an Accounting and Finance (CIMA) MSc program like the one offered by Abertay University allows you to develop the skills to improve your career opportunity, while also preparing you for the CIMA examination.

For those interested in working with NGOs, an MSc in Charity Accounting and Financial Management such as that offered by Bayes Business School could provide specialist knowledge of charity taxation and privileges, with a comprehensive understanding of the particular accounting practices and financial management required. Alternatively, an MSc in International Accounting and Finance, such as that available at Henley Business School, prepares students for the complexities of accounting practices of multinational companies, and broadens their perspective by touching on aspects of business strategy and consultancy.

Wherever specific programs are mentioned, it is advisable to check the latest details, including entry requirements and fees, on the university website direct, as course content and pricing can change from one academic year to the next.

Advantages of a postgraduate accountancy qualification

A postgraduate degree in accounting or finance can sometimes offer exemptions from certain professional body exams, which can shorten the time needed to complete a qualification such as ACCA, CIMA or ICAEW ACA, depending on the course content and accreditation. This can provide a valuable advantage in a competitive job market and allow you to focus on quickly gaining the work experience that employers are absolutely adamant about.

Additionally, due to the fact that postgraduate courses have international student bodies, they will extend your knowledge of accountancy across cultures and countries as you will be required to assemble and cooperate to gain business insight. Postgraduate courses cover all aspects of accounting, including bookkeeping, management accounting, taxation, auditing, cost accounting, computerised and administrative accounting.

Business school facilities for budding accountants

Some of the best business schools and universities offer their postgraduate students a wide array of academic resources, including extensive libraries, journal subscriptions and access to financial databases and trading rooms. Facilities may include Bloomberg terminals, Reuters Eikon, Datastream and specialist software for quantitative analysis and financial modelling, giving students hands-on experience of the tools used in professional practice.

These resources, combined with careers services, employer networking events and alumni mentoring schemes, can significantly enhance students’ employability and help them secure internships and graduate roles in accounting and finance.

Accountancy postgraduate student case studies

Accounting and finance masters student Sahil Mohammed studied at Sheffield University Management School and in a case study explains how he balanced two-hour lectures on banking regulation and real-life case studies with tutorials focused on financial statement analysis and quantitative methods. His studies also included careers support and employability activity, from a campus careers fair and CV workshop to group revision in the Information Commons.

Accountancy student case study A postgraduate success story comes from Yukta Wadhwani, who chose the triple-accredited University of Liverpool Management School for its world-renowned reputation and the competitive edge it offers in the global job market. As Yukta explained: “A masters degree in Accounting and Finance will open up new career opportunities and advancement in the field… [and] will also open the door to professional certifications such as CPA, CMA, ACCA and many more, which can further enhance my career prospects.”