How to become an Accountant in the UK Without a Degree

In the UK, accounting is among the most sought-after professions and needs an individual who would be able to deal with numbers and help businesses with their financial management. But what if you don’t have a degree? Do you mean to say that it’s impossible to become an accountant? Not at all; that’s a definite yes. While a degree is certainly a conventional route, it is by no means the only option for entering the accounting realm. Indeed, there are quite a few eminent accountants who made a mark despite not having university education.

So “how to become an accountant in the UK without a degree?” First of all, you’ve clicked on the right page. Here, in this blog, you will be guided through the necessary steps to take if you want to study accounting without a traditional degree. We will touch upon qualifications, the influences of CPD, and how you can use professional bodies like ACCA and AAT to aid your success.

What does an accountant actually do?

We’ll first consider the career of what an accountant does before we move on to qualifications and steps. People generally in the field of accounting manage a host of duties that link with financial systems, prepare reports, check the correctness and authenticity of financial transactions, and therefore help an individual in the process of making an informed decision. The duties and responsibilities an accountant should fulfill include:

• Effectively managing financial systems and budgets
• Providing proper financial reporting and analysis
• Auditing and verifying financial documents
• Ensuring compliance with tax laws
• Advising on financial and investment decisions
• Payroll preparation and management
• Counseling cost-savings in order to enhance performance

Accountants may work in fields such as public practice, corporate finance, management accounting, auditing, taxation, and financial analysis. These various sectors all take on different responsibilities of the accountant, but the common thread across them is still that the core skills needed of accountants are similar. 

How to Become an Accountant UK Without a Degree

You don’t need a degree to become an accountant. Instead, what you need are the right qualifications and experience. Here’s how to become an accountant without a degree:

1. Start with AAT (Association of Accounting Technicians)

The AAT qualification is one of the most popular entry routes for non-degree holders. AAT is the leading professional body of accounting technicians in the UK, providing practical, industry-relevant skills that will get you job-ready relatively fast. It offers three different qualifications-geared for beginners and professionals with some experience.

Level 2 Certificate in Accounting: This is the major entry-level qualification covering bookkeeping, the preparation of VAT reports, and communication with payroll.

Level 3 Diploma in Accounting: A more advanced qualification that builds on Level 2, covering management accounting, budgeting, and financial reporting.

Level 4 Diploma in Accounting: This level delves deeper into advanced accounting disciplines such as financial statements and taxation for those wishing to become fully qualified accounting professionals.

The AAT qualification is widely accepted among employers in the UK. One is safe to say that it is a solid foundation for anyone considering how to become an accountant without a degree in the UK. This qualification will equip you ready to work in various accounting roles.

2. Think About CPD

CPD or Continuing Professional Development is also important to all accountants, whether they graduated with a degree or not. Such CPD helps them remain current with the industry, trends, regulations, and best practices. 

After you finish your AAT qualification, you will begin fulfilling CPD to keep your membership status and enhance your skills. CPD activities include online courses, workshops, and seminars that would keep you competitive in an ever-developing accounting field.

CPD credits are fundamental in most professional qualifications like ACCA and CIMA. Entering into CPD early, even as a novice gives an indication of your commitment to professional development.

3. Pursue ACCA (Association of Chartered Certified Accountants)

The next step would be to go for ACCA after you have gathered some experience while also acquiring your AAT qualifications. ACCA is recognized as one of the most respected certifications in the world, and it gives you a broad opportunity, even if you do not have a degree.

The ACCA qualification can be started through the FIA route specifically for people who do not have any degree or prior accountancy qualification. This foundation level will aid in extensive preparation for more advanced ACCA examinations.

ACCA qualifications are internationally recognized by employers, giving you access to senior roles in the accounting profession. Upon completion of your ACCA qualification, you will become a fully qualified accountant with plenty of career opportunities open to you.

4. Gain Practical Experience

While qualifications are vital, practical experience is as crucial. Many accountants get to start from the bottom as an assistant accountant or finance clerk. Such positions give practical experience in managing financial records, such as transactions and accounting software knowledge. 

Truth be told, experience is something that you can also gain through work placements, apprenticeships, and hard work-as a matter of fact, volunteer work. All through these training periods, you will be able to gain a lot more positive skills and experiences for you to climb the ladder into higher jobs. 

5. Take Into Account Other Accounting Bodies

Apart from AAT and ACCA, other professional accounting organizations could be a good career booster:

• CIMA (Chartered Institute of Management Accountants): CIMA is a professional accounting qualification program developed for students who want to take a career in management accounting; it is reputable among employers, providing a diverse skill set involving finance, business, and management.
• CIPFA (Chartered Institute of Public Finance and Accountancy): If you’re looking to specialize in public sector accounting, CIPFA offers qualifications for that field, concentrating on public financial management.
• ICAEW (Institute of Chartered Accountants in England and Wales): This is another route to become a chartered accountant, albeit requiring more extensive training and work experience.

Each of them has somewhat different courses of education, providing one with satisfactory career advancement even if a degree isn’t there.

6. Keep Learning and Stay Adaptable

Accounting is a dynamic and evolving field; thus you need to be impromptu as an accountant without a degree. Fundamental knowledge about new accounting software technologies and regulations would not only help you keep up with the most recent method of practice but also give you a competitive edge.

Whether learning new software, understanding changes in tax regulations, or extending qualifications, a commitment to continuous professional development will stand you in good stead. CPD will go a long way to help you secure these objectives and will mostly help you continue learning throughout your lifetime.

What Skills Does an Accountant Need?

While they need formal qualifications, accountants need to possess key competencies for careers in accounting. Most importantly, the following characteristics must count as the deciding factors:

• Organizational Ability: They should be detail-oriented, rigorous, and organized when handling financial documents and keeping an eye on deadlines.
• Analytical Thinking: Able to analyze a range of financial data and make decisions and recommendations based on such. 
• Communication: Accountants need to have the ability to convey complex financial data, and information easily understood by the receiver.
• Time Management: An accountant needs to manage his time well, as he is employed in different jobs at the same time.
• Adaptability: The changing landscape of the accounting field makes changeability with regard to software, process, and regulation essential to success.

How Much Do People Earn in Accountancy Jobs?

Salary for an accountant in the UK is sizable and is equal to an average of around £62,000 per annum. The salary of an accountant may differ depending on experience, qualifications, and the sector. Junior accountants earn some £20,000, while experienced ones earn much more, especially in taxes or – in audit.

Conclusion

All it takes is some work experience in the accounting field, along with an attitude to keep learning. Starting from AAT training, one can progress through ACCA or other professional bodies and carry out the continuing professional development throughout one’s career. A successful career as an accountant can be built without a degree. Practical experience, contacts, and further professional development will be the stepping stone to success.

If you have the wheel alignment, then get on with AAT or throw your efforts into ACCA’s Foundations in Accountancy. The profession of an accountant awaits you, degree or not!