Is it too late for a career switch to Accounting at 34....?

John (N/a) (24 Points)

31 May 2011  

Hi everyone,

Hi im currently 34, from India and would like to do a career switch into the Accounting field. I'm planning to start with the ICWAI foundation as I am 12th passed (Not a Graduate) & then finish upto Final level.I know this process will take 3 - 4 years to complete which I am willing to do.On the side I can start an entry level accounting job to start gaining experience in this field ( though I know that will be difficult getting a job for a person not having accounting work experience). As much as I wish to expedite the learning process as a late starter in this field, I believe in getting my foundations right and would appreciate if someone can give me some advise on the following:

a) Is the ICWAI course class based or correspondence based ?
b) In the ICWAI website it has been about coaching / training done by ICWAI.Are they classes which I have to attend or I have to take private classes on my own to solve any problems of grasping accounting concepts.
c)For the Intermediate course do I have to be a graduate ? That means I also should take an undergraduate degree program & passed it to be eligible for the ICWAI Intermediate course ? Or the passing the ICWAI final course is considered to be graduate enough ? 
Please correct me if I am wrong.In case would taking the ICWAI's B.COM WITH MAJOR IN FINANCIAL AND COST ACCOUNTING [B.COM (F & CA)] programe with ICWAI foundation course. 
d)Passing / Getting the ICWAI final certification is equivalent to the US CMA ? 

I need your kind guidance with regards to a career in accounting field.I have been working for 10 years in different fields.I had some financial problems due to which I couldn't complete my graduate studies.
I have worked in sales & back office in a securities firm for 5 years.Then I shifted to Dubai working for a reputed local bank in back office for 4 years.Then the recession hit Dubai badly & the bank had to lay off excess staff.I got married then & had worked for a private firm in a sales position in Dubai before that company had to be closed down due to cash problems.

I am now having financial problems. 

I have been doing a lot of thinking about my future planning.In college accounts used to be my favourite subject as I used to liked tallying things in the balance sheet, etc.I was initially interested in doing the CMA (Certified Management Accountant) course of USA.But then I know it is very expensive & time consuming.I believe that in India we have the ICWAI which is equal to the US CMA.Please correct me if I am wrong.

But first I want to my get my Accounting basics correct.I know that most companies hiring CMAs/ ICWAI accountants hire people who have a Bachelors in Accountancy.I also feel that it has been a long time since I have done college, so I would have forget most of the Basic Accounting principles.

My 2nd option is to enrol for the ICA's 3 year B.Com (Finance & Investment) program & working part time in account related jobs to gain pratical knowledge.After finishing my B.Com I can do the same ICA's CIA Plus program to gain higher knowledge in practical Accounts.You can check the site https://www.icajobguarantee.com

Guys I am confused & in a very tough situation.The reason why I am looking for accounting field is that I have interest in it & I believe it has stability & good growth prospects in today's recession economy.
I look forward to receiving good advise and thank you in advance.

Sorry for the trouble & posting such a big Question .. :-)



Thanks & Regards,
John D