Paul Siderovski’s tips for becoming a chartered accountant

Paul Siderovski's tips for becoming a chartered accountant
Paul Siderovski, CEO of SiDCOR Chartered Accountants. Source: YouTube

A Tony Robbins convert and business motivational speaker, Paul Siderovski founded SiDCOR Chartered Accountants and is the current managing director.

Accounting is a thriving business in many different parts of the world. It is a highly regarded profession that is internationally recognised. Chartered accountants (CA’s) work on a variety of exciting and challenging problems. The work is always mentally stimulating.

Becoming a chartered accountant (CA) like Paul Siderovski starts with either an accredited industry related bachelor or master’s degree. This is because mastery of a few expertise areas is required to complete the technical CA modules. These areas include audit and assurance; financial accounting and reporting; management accounting; applied finance; and taxation.

A chartered accountant course also includes professional placement. In Australia, permitted candidates must complete at least three years of approved employment. Approved employment is recognised when you are:

  • Working in a relevant accounting role
  • Work for at least 17.5 hours per week
  • Under the guidance of a recognised mentor

Becoming a qualified chartered accountant requires a large investment of time and energy. It also requires your heart to be in the right place – so you should make sure it’s something you’re really determine to do.

In a YouTube interview with Stewart Lughton from Wealth Diaries, Paul Siderovski expresses that he is “passionate and energetic about really helping people have a better quality of life,”.

Why become a chartered accountant?

Chartered accountants like Paul Siderovski are some of the most sought-after professionals in the finance industry. Becoming a chartered accountant is the first step towards joining a large worldwide network of trusted business and finance leaders.

Chartered accountants are able to work in the highest levels of accounting, finance or business corporations. Some of the CEO’s of the world’s biggest companies are chartered accountants. The more skills and qualifications you have, the more highly sought after you are. Effective use of your CA qualification will kick start your international career.

Global competition for accountants is increasing every day, but being a chartered accountant elevates you above that competition. Leverage your qualification as a chartered accountant. It is one of the highest and toughest qualifications you can have. But it is also a globally recognised qualification that commands great respect.

The program trains and prepares you for complex and difficult business situations. It gives you a keen analytical business mind frame. Professionals like Paul Siderovski will happily admit that work as a chartered accountant is always very interesting and exciting. Chartered accounts can also take on a vital role in running the business.

Chartered accountants have the ability to work for a variety of global or domestic companies across the globe with different scales and across a wide variety of sectors and industries. You have the potential to live and work anywhere in the world.

Other than being a great choice of career path, becoming a chartered accountant broadens your mind and understanding of a successful business. It takes great entrepreneurial ability to start your own business. You can easily establish your own personal practice anywhere in the world.

Being a secure profession, chartered accountants also receive great salary and benefits. The average pay for an accountant is $56,233 per year compared to $71,075 for a chartered accountant like Paul Siderovski and his team. That’s average pay increase of more than 26% at least.

Required skills

Paul Siderovski talks about becoming a chartered accountant
Photo: AndreyPopov, Bigstock

Important chartered accountant work skills can include:

  • Negotiating finance for organisations
  • Investigating criminal financial activity
  • Planning the allocation of budgets
  • Maintaining financial records
  • Conducting risk analysis
  • Advising on capital management
  • Communicating with senior stakeholders
  • Completing internal and external audits

Other important work skills:

  • Strong communication and interpersonal skills
  • Good analytical and problem-solving skills
  • Ability to work well in a team
  • Commercial awareness
  • Strategic planning and decision-making skills
  • Professionalism and sensitivity
  • Excellent time-management skills
  • Attention to detail

In addition to completing a chartered accounting degree, you need to ensure you are properly geared to establish quality connections.

Network effectively

The old adage friends are power reigns true in the business world. Be like Paul Siderovski and, whenever possible, always do your research beforehand. A little bit of background information, regardless of how small can go a long way. It gives you a starting point. Social media or LinkedIn is a big help in research.

Try repeating someone’s name to remember it or associate it. Take note of key takeaways or of something you can bring up again next time. Remember that all this work only counts when you effectively follow up. Reach out and maintain these connections.

Determination, hard work and patience

Strong determination is required to pursue and complete a Chartered Accountant course. Hard work in all studies and course work is required. Above all, stay patient. Celebrate success but learn from failures.