Here are just a few questions and answers regarding training as an accountant in Guernsey. These have been taken from the publication ‘Sweet!’ which can be obtained from the Permanent Secretary, Karen Despres or access the "Sweet!" brochure website on www.accountancy.gg. If you are interested in training to become a qualified accountant, visit the web sites of the professional bodies here for more information.
A list of firms offering accountancy training, support and facilities in Guernsey is available here.Why qualify as an accountant?
Many people work in accounts offices without being qualified accountants, but a professional qualification means that you can take more responsibility, work in a higher position within a firm and get paid more
Does it matter what A levels I study and is it better to have a degreee before I start training?
The subjects are not really important. Firms want to know that you are comfortable with both figures and words and that you are good academically. Many accountants are graduates but you don’t have to be. After your A levels you might do an accountancy foundation course, Association of Accounting Technicians or Certified Accounting Technician exams before beginning chartered or certified studies.
Where will I train?
Chartered Accountants, and most certifieds, train with one of the established accountancy firms in the island. This involves in-house courses and in-depth training away from the office, locally or in the UK. Some people, who do not work for an accountancy firm, study alone, either through a correspondence course or by attending training courses. Everyone has to do a lot of study at home, in their own time, particularly near to the exams, It is very hard work and you have to remind yourself that it will be worth it in the end.
How long will it take to qualify?
Depending on the qualifications you have to start with, which might give you exemptions from some of the early exams, on average accounting technicians take 3 years to qualify. Chartered and Certified Accountants take 3 to 5 years.
What exactly will I study?
Subjects that have to be studied include auditing, law, information systems, management, taxation, bookkeeping and accounts production.
What happens if I fail?
If you fail an exam you can take that paper again. Accountancy firms are usually supportive of their students re-sitting exams, although they may not pay the course and entry fees the second time around. Most students get into their studying quite well and really want to do their best and very few drop out.
What sort of salary can I expect?
Generally, trainee accountants in Guernsey are well paid and once qualified you will be amongst the highest paid sector of local employees. Depending on what you choose to do as a qualified accountant you could be extremely well off.