Accountancy is the practice of evaluating and interpreting financial data to help businesses understand their financial health and building up strategic decisions based on that data.
The duty of an accountant may involve:
- Planning investments
- Preparing budget forecasts and solutions for setbacks
- Conducting audits
- Filing month-end accounts and tax returns
- Staying up to date with regulations, financial laws and their impact on business
Accountancy Qualification Required to be an Accountant
To become an accountant, one must complete a bachelor's or master's degree in accounting or related subjects with maths as a compulsory subject. After completing their degree, a student can apply for higher-level accountancy qualifications awarded by the UK chartered accountancy bodies. Accounting qualifications include:
- Associate Chartered Certified Accountant (ACCA )
- Associate Chartered Accountant (ACA)
- Chartered Institute of Management Accountant (CIMA )
To become an accountant, a candidate needs at least GCSEs or equivalent accountancy qualifications at grades 4/C or above. Top firms may also ask for As and Bs at A level (or equivalent) and a 2:1 from your degree.
To become a certified public accountant, the candidate needs to be a member of the Certified Public Accountants Association.
How long does it take to become an accountant?
It will take a candidate three to four years to become a fully qualified accountant if they have studied for the ACCA qualification. However, if candidates opt for vocational training courses and then apply for professional courses, it might require more time to become an accountant since candidates will need to have work experience to apply for the professional courses.
Top UK Universities for Studying Accountancy Degree
University of Glasgow
The University of Glasgow, a top Russell Group university, performed impressively in the Research Excellence Framework, with its percentage of world-leading research doubled to 31% since the last assessment. Glasgow is ranked 12th overall in the UK in the Times University Guide 2022 and 2nd in Scotland.
The University of Glasgow is a top-ranked university for studying an accountancy degree according to the Guardian University Guide 2022. The University offers a four years bachelor's degree in Accountancy, where the final year will consist of an elaborate study of advanced financial accounting and audit followed by a dissertation.
- Course in focus: BAcc (Hons) Accountancy with Finance (optional year abroad)
London School of Economics
The Department of Accounting at the London School of Economics is one of the leading accounting groups in the world, known for its research and teaching excellence on the economic, institutional and organisational aspects of accounting management. Accounting courses at the London School of Economics are available at both undergraduate and postgraduate levels.
Currently, the university is ranked 2nd in the UK for studying accountancy and four overall in the Guardian University Guide 2022.
- Course in focus: BSc Accounting and Finance
University of Bolton
The University of Bolton was ranked second twice for its teaching quality by The Times and The Sunday Times Good University Guide and Bolton's accounting degrees are specifically designed to help students gain relevant skills and knowledge in a wide variety of financial and management roles.
The University holds a professional body accreditation from the Association of Chartered Certified Accountants (ACCA), Chartered Institute of Management Accountants (CIMA), Chartered Institute of Public Finance and Accountancy (CIPFA), Institute of Chartered Accountants in England and Wales (ICAEW) and the Institute of Chartered Accountants of Scotland (ICAS) as an approved learning partner.
- Course in focus: BA (Hons) Accountancy
A degree at Aberystwyth University will help prepare international students for a professional career with a focus on financial accounting and management accounting, business law with taxation and business ethics. Located in Wales, Aberystwyth is one of the most beautiful universities in the UK.
Students will be guided and taught by lecturers and teaching staff who are also expert practitioners and active researchers in their subject area. 75% of Aberystwyth's teaching staff holds a PhD degree.
- Course in focus: LLB (hons) Law & Accounting & Finance
University of Bath
The University of Bath is currently ranked within the top 5 in the Guardian University Guide 2022 for accounting programmes and, by studying at Bath, students will develop critical analytical skills that will guide them to deeply understand the financial system and its related areas. At bachelor's level, students can also choose the four-year course that includes a placement year.
- Course in focus: BSc (Hons) Accounting & Finance
Study Accountancy in the UK
If you want to learn more about studying accountancy in the UK, book a free consultation with SI-UK London today.