An MBA or an ACCA?

Kristina wrote:

Hello, I would like to know what is better, to study for MBA or ACCA?

I have a Bachelors degree in Finance from US. I have been working in billing department for more than a year, but I want to advance in my carrier. Even though I am not American, but I understand US market better than UK. Could you please advise what are my prospects if I get MBA, ACCA or both.

Sincerely, Kristina

An associate director at Marks Sattin replied:

Hello Kristina

This is a difficult one to answer without knowing the direction that you would like to take your career.

If you are looking to go down an 'accounting route' then the ACCA would be the first step as that will be done whilst working in industry and most companies will provide study support throughout the process. An MBA is generally done as a set study period, again depending on the timescales someone wants to complete this in. An MBA would be a more professional level, but will lend itself to more strategic and less accountancy type roles, depending on the MBA structure/set up.

If you are looking to relocate to the UK and need to be working whilst studying, I would suggest looking into the ACCA, CIMA or even ACA (again depending on the direction you would like to take your career) and follow this up with a MBA. You could even do a CPA before relocating from the States, (again depending on your personal situation and desire to move abroad now or in a few years)

Please bear in mind though, arriving with a degree and just over a years experience in billing, you will have to start off again with a company and work your way through the business whilst studying for either of these disciplines.

Please contact us again if you need any more advice.

Good luck!

Tax - a foot in the door

Yuliya wrote:

A few years ago I was awarded an MBA by one of the top business schools in the UK. However, on successful completion of my course, I made a decision to redirect my career into accountancy and started an independent ACCA study.

I am now in the final stage of my qualification and, experience-wise, I have completed a 6-month training contract with a small accountancy practice in London which involved, apart from accounting tasks, assistance in preparation of individual tax returns.

I have an ambition to further specialise in taxation and aspire to procure a job in a bigger practice. Needless to say, I would be willing to undertake any additional study required, such as CTA. I am 32 and I also have experience in customer-focused (UK), client-facing (non-UK) and teaching (non-UK) roles.

What are my chances of getting into a practice with a tax team and what are the possible routes? Would temping be an option just to get a foot in the door?


A senior manager in Marks Sattin's tax team replied:

Dear Yuliya

I would suggest that you are on track as you are currently working in a mixed tax and Audit role. The MBA should also be a benefit as larger firms will be looking for individuals who have the commercial awareness and ability to forge lasting relationships with existing and new business. I would suggest getting yourself registered with the CTA so that potential employers can see that this is a rout that you are serious about undertaking. Try to bring your most valuable Tax experience towards the top if your career and actively seek tax work in your current position.

Hopefully that helps please feel free to contact the Tax team for more information.

All the best

Investment research in the UK

Seyera wrote:

Hi,

I am an Asian, hoping to join my spouse in UK on a dependent visa. I am a CIMA passed finalist with 1.5 years of experience in investment research (mainly equity)and 1 year experience as a business systems analyst. I also have a first class bachelor's honours degree in finance from a well-recognized local university. I am an ACCA finalist as well. I wish to continue working in the investment research field when I come to UK, but I have the impression that the chances of me getting a job in an investment bank or research firm are slim.Please educate me on this. I am very much interested in the management accounting field, as well. Since I dont have management accouting experience, would i stand a chance of finding a job, in this field? Will the firms consider my CV before I come to UK? What are the chances of me being considered for a graduate trainee position? Would much appreciate your advice

Thanks

Seyera


A senior recruitment consultant at Marks Sattin replied:


Hi Seyera,

The transfer of equity research skills to the UK market would be unlikely due to the need for experience of UK markets and specifically the equities focused on. There would be potential to undertake a graduate scheme, but potential employers are likely to question the reasons for coming in at this level if you are so far down the CIMA and ACCA qualification paths.

Yes UK employers will consider you from abroad, but you need to be prepared for extensive travel to the UK, and it is generally a given that candidates can keep on top of the interview process (and keep flight costs down) much better by taking the plunge and relocating. It's a tense time, but based on your qualifications and previous exposure to management accounting, you should find it relatively easy to secure a role in commerce & industry or even financial services.

Please fell free to contact us through email, and we can call you to asses the depth of accounting experience you have and what level of role you should be targeting in the UK.

Gaining practical experience

Gaurangkumar wrote:

Hi, My name is Gaurangkumar and I am looking for some help and advice from Marks Sattin. I am an accounting student & I have finished two years of accounting and advance accounting of a degree course. I have recently started CIMA with BPP. For accounting it is very important for me to have practical experience as well, so I am looking for a platform where I can gain some valuable experience. My intention is purely to gain experience and not money and would like to do some part time work and have some experience. Again my intention is to get experience and not money and I don’t mind working for free if I am getting good experience in management accounting or any related position. I have been advice from BPP to contact Marks Sattin for help and advice. I am wondering if you can help me in getting some work. I am really keen to do some work related to my academics. I can provide my academic certificates and would like to meet if its okay with you.


A consultant in Marks Sattin's commerce and industry division replied:

Hi Gaurangkumar

The best thing for you to do is to send your CV in to us. We can then take a look at it and have a chat with you as to the best way to proceed.

Finding part-time work can sometimes be hard. As an agency 99% of the jobs we have are full-time. We can certainly keep a look out for roles that are part-time and we do get some in sometimes which is why it is a good idea to register with us.

Another idea is to look in the job sections of local papers such as The Metro or Evening Standard. There should be no need for you to work for free although one place that you could approach is Phillip Kobbs and Co. They do good work related placements.

I hope this helps and if you have any other questions, please get in touch with us again.

Getting into practice with little experience

Anonymous wrote

Dear Doctor,

I am CIMA finalist, ACIS, MAAT, Pg dip in finance and Accounting.

I worked local authority finance for 18 years, been made redundant two years ago. Since then I worked as Temp for District Council finance for about 7 months. I have been trying to get new contract but having no luck .

I am a British Asian. I have used different computerised Accounting system, eg SAP, Cedar financial.I have used Excel, Word in my previous position.I have successfully completed SAGE line 50 course run by a firm of chartered Accountants and passed City and Guild Examination in Computerised Accounting.

I want to get in to small Accounting Practice who prepare accounts from incomplete records, VAT return, and related accounting and Tax works.

I have applied to many Firms , but most of them ask for few years practical experience, which I do not have, though I am confident of picking up the skills quickly. I have also applied to small to medium businesses to work as Assistant Accountant/ book keeper, but so far I have not been offered any positon.I am over 50 years but below 60 years of age.

Please advise me what else do I need to do to get back to Job market either in Practice or Commerce. Look forward hearing from you.


A consultant in Marks Sattin's public practice division replied:

Unfortunately finding roles in practice is extremely difficult if you do not have any experience in a client facing role. Even candidates that have trained /worked in practice and then move to commerce and industry find it hard to move back to practice. My advice would be to pursue a career in Public Sector as it is an area where you have experience.

If you have your heart set on practice though it might be useful to approach sole practitioners or small firms in your local area as these are the most likely options for you. You can find contact details of all registered practices on the ACCA and ICAEW websites.