Studying02.24
The world of accounting demands skilled professionals, and achieving qualifications like ACCA, CIMA, or CIPFA unlocks doors to fulfilling careers. However, a concerning trend is emerging: a growing number of students take over five years to "get qualified," with nearly 32% of all PQs across major UK and Irish bodies falling into this category. This raises crucial questions for both aspiring accountants and employers.
Delving into the specific reasons behind this trend, several potential factors might be at play:
Increased Exam Difficulty
Evolving syllabuses and complex formats could raise retake rates and extend study periods.
Work-Life Balance Juggling Act
Balancing demanding jobs with rigorous studies presents a significant challenge for many students.
Lack of Support Structures
Inadequate study resources, mentorship, or flexible learning options can hinder progress and motivation.
Financial Constraints
The substantial cost of qualifications can necessitate increased work hours, leaving less time for studies.
Shifting Career Aspirations
Students might change their career goals mid-journey, potentially leading to delays or even dropped qualifications.
Pandemic Impact
The global crisis likely disrupted study plans and caused delays for some students due to various disruptions.
While individual experiences vary, understanding these potential roadblocks is crucial for employers who can play a vital role in supporting their part-qualified staff. Here are some key actions they can take:
Remember, supporting part-qualified staff is not just a social responsibility; it's a strategic investment. By creating a supportive environment and offering concrete resources, employers can foster a more engaged, qualified, and loyal workforce, ultimately enriching their organization and the accounting profession as a whole.
This post has explored the issue of extended study times for accounting students and outlined actionable steps employers can take to support their part-qualified staff. By working together, both individuals and organizations can create a win-win situation, contributing to a more thriving and qualified accounting community.
Knowledge is king