I was a little confused on the qualifications and their levels and decided to put something together, since I’m doing this, I thought why not share as someone out there may have the same question.
The job market and job descriptions seem to be asking for everything whilst simultaneous crying “no one wants to work”, you would not be wrong looking at job description and thinking, I need: An accounting qualification, degree and also a MBA to get a job certain positions in accounting.
That excludes those asking for “red brick” or “top universities” candidates; the job market can confuse the heck out of you.
I have seen jobs ask for a degree, an accounting qualification and ‘preferably’ a MBA, for basic management accounting positions.
After looking into it all, I now know for sure, that most of those requirements are overlapping, (apart from data analyst/scientists roles who usually ask for a STEM degree), the others just want to see a degree as a check box exercise.
There are many accountants out there who have degree’s not related to the field at all, this is common knowledge in the industry and either way, you usually have to get an accounting qualification to progress anyway, on top of that, an accounting degree is often not enough to get some positions in the field.
This is due to the marketing by the professional accounting bodies, prior to this, many senior accountants got jobs just be being QBE = Qualified by experience.
After into education levels and how things fit into the table, it is a fact, that if you choose the professional accounting body route and you pass all exams, you are of the LEVEL of a Masters.
This is because an accounting qualification e.g. ACA, ACCA or CIMA is a level 7 qualification.
If a role asks you for a degree and also request you be fully qualified, it’s most likely just a tick box exercise.
| Level | UK | AAT | ACCA |
| Level 1 | GCSE D-G | ||
| Level 2 | GCSE A* – C | Certificate in Accounting | |
| Level 3 | A levels (both years) | Diploma in Accounting | |
| Level 4 | Diploma / Year 1 of a Foundation degree | Diploma in Professional Accounting | |
| Level 5 | Year 2 of a Foundation degree | Applied knowledge | |
| Level 6 | Bachelor’s degree | Applied skills | |
| Level 7 | Masters degree | Strategic professional | |
| Level 8 | Doctorate |
Links: What qualification levels mean: England, Wales and Northern Ireland – GOV.UK (www.gov.uk)
Image from: http://www.theuniguide.co.uk
Brainthrough 