Hi all,
Does anyone have advice on how to break into the accounting field here in Munich?
I moved here last September and have been taking German classes ever since to boost my language skills. Back in the States, I was in sales, but want to make the switch.
I'm in my mid-twenties. Finished with university and have already taken graduate classes in accounting. I also having been working part-time here doing office work and getting used to a German business setting. But I am a little stuck (and overwhelmed) with where to start looking or how to approach companies. Does anyone know of training programs in banks or accounting firms? I'd be grateful for suggestions.
Thanks
You are viewing a low-graphics version of this page. Click the headline to view full version:
Starting career in accounting
Advice for doing this in Munich
efinancialcareers is a good place to start looking for accounting jobs. If you do a search by location - Germany and then Bavaria there a plenty of jobs around. If there are none that take your fancy listed then look at the websites of the recruitment firms that have placed the ads.
What the Germans call 'Controlling' is essentially financial accountant in a normal business. They don't seem to have the equivalent qualification of what in the UK is CIMA (Chartered Management Accountant) here so not sure what training is usual in a German firm.
In your general accounting firms there isn't really the equivalent of the UK's ACA or US's CPA. Instead they have Steurberater (tax advisor) which is a waste of time, completely non commercial and teaches you nothing about accounting but everyone does it because it's a title and they love that over here. Once this has been achieved then you are allowed to study for the Wirtschaftsprüfer which is a qualification to say you can audit. Again this is non-commercial, very technical in the sense they can quote German commercial law at you and teaches the holder nothing about proper finance. Some departments of some firms are now allowing people to study for the ACCA (Certified Chartered Accoutant - somewhere between CIMA and ACA) which is more commercial and can be used in the real world as well as in an accounting firm.
To get work at a general accounting firm I would say a willingness to learn German and throw yourself in is essential, maybe more so initially than your actual german ability. I would give the larger firms' (PwC, KPMG, E&Y, Deloitte, Grant Thornton, BDO, PKF) HR departments a call and just ask what positions are available and what are the requirements- or look on their websites.
Hope this makes some sense and good luck
What the Germans call 'Controlling' is essentially financial accountant in a normal business. They don't seem to have the equivalent qualification of what in the UK is CIMA (Chartered Management Accountant) here so not sure what training is usual in a German firm.
In your general accounting firms there isn't really the equivalent of the UK's ACA or US's CPA. Instead they have Steurberater (tax advisor) which is a waste of time, completely non commercial and teaches you nothing about accounting but everyone does it because it's a title and they love that over here. Once this has been achieved then you are allowed to study for the Wirtschaftsprüfer which is a qualification to say you can audit. Again this is non-commercial, very technical in the sense they can quote German commercial law at you and teaches the holder nothing about proper finance. Some departments of some firms are now allowing people to study for the ACCA (Certified Chartered Accoutant - somewhere between CIMA and ACA) which is more commercial and can be used in the real world as well as in an accounting firm.
To get work at a general accounting firm I would say a willingness to learn German and throw yourself in is essential, maybe more so initially than your actual german ability. I would give the larger firms' (PwC, KPMG, E&Y, Deloitte, Grant Thornton, BDO, PKF) HR departments a call and just ask what positions are available and what are the requirements- or look on their websites.
Hope this makes some sense and good luck
Thanx!
If you plan on staying in Germany, then do a German qualification. Admittedly, it will be more difficult due to the language, but it's a nightmare trying to get past German personnel staff with foreign qualifications like ACCA, etc. You'll get away with MBA or CPA, but that's about it.
Having said that, the Germans are with accounting, as they are with everything, complicated. Public practice and industryis for one divided. You only become a Wirstschaftsprüfer (CPA, ACA) if you plan on working in public practice otherwise you lose your licence. Same applies to Steuerberater i.e. tax consultant. The classic path is "Betriebswirtschaftswissenschaften" (BWL) in Rechnungswesen (accounting), Steuer(tax), Controlling (Performance Management or Management Accounting) and Revision (Audit). During your studies you would do a 6 month "Praktikum" preferably with one of the Big 4. Following that, you go and work for approximately 2-years with an audit firm in industry.
You could of course do your "Praktikum" in industry and start working there as a Trainee.
The other path is a "Lehre" or apprenticeship. This culminates with the qualification of Bürokaufmann, industriekaufmann, etc. Following that and another minimum 3 years work experience you can do a Bilanzbuchhalter "cost accountant" course through the German Chamber of Commerce (Industrie Handelskammer) or IHK. Some graduates do the course as well as it is considered very highly in industry due to its much more hands-on approach as opposed to the university courses.
Considering your level of experience and education, I would look into doing a BWL through the FernUni Hagen. Another option albeit more expensive would be a distance Masters in Finance through an American or UK institution. Unfortunately, there you won't get exposed to German Commercial Code or to German technical terms.
Having said that, the Germans are with accounting, as they are with everything, complicated. Public practice and industryis for one divided. You only become a Wirstschaftsprüfer (CPA, ACA) if you plan on working in public practice otherwise you lose your licence. Same applies to Steuerberater i.e. tax consultant. The classic path is "Betriebswirtschaftswissenschaften" (BWL) in Rechnungswesen (accounting), Steuer(tax), Controlling (Performance Management or Management Accounting) and Revision (Audit). During your studies you would do a 6 month "Praktikum" preferably with one of the Big 4. Following that, you go and work for approximately 2-years with an audit firm in industry.
You could of course do your "Praktikum" in industry and start working there as a Trainee.
The other path is a "Lehre" or apprenticeship. This culminates with the qualification of Bürokaufmann, industriekaufmann, etc. Following that and another minimum 3 years work experience you can do a Bilanzbuchhalter "cost accountant" course through the German Chamber of Commerce (Industrie Handelskammer) or IHK. Some graduates do the course as well as it is considered very highly in industry due to its much more hands-on approach as opposed to the university courses.
Considering your level of experience and education, I would look into doing a BWL through the FernUni Hagen. Another option albeit more expensive would be a distance Masters in Finance through an American or UK institution. Unfortunately, there you won't get exposed to German Commercial Code or to German technical terms.
You are viewing a low fidelity version of this page. Click to view the full page.