Accountancy Apprenticeship: Student Guide
This Apprenticeship could find you working in an accounts department or helping a business or organisation manage their money properly. Running a business involves a lot of financial activities, from expenses and bills to taxes and payroll. Accountants keep track of all these things and more to make sure that businesses – both large and small – manage their money properly. Having a business brain, as well as a way with numbers, is a good start if you want to work in accounting.
Job roles in Accountancy vary. Depending on whether they’re keeping track of one person’s or a global corporation’s finances, there are several things that Accountants can do to help their clients’ businesses. This variety often makes it an attractive profession to pursue. You could work in literally any industry, and apply your skills to any business type. Whatever type of company you want to work for, they will always need the services of an Accountant.
Apprentices who qualify as Accounting Technicians might work as Accounts Assistants, Credit Control Clerks, Accounts Clerks, or Finance Assistants, all helping accountants to keep financial records and prepare accounts. You’ll learn how to balance accounts, process invoices and payments, complete VAT returns, and help prepare financial statements and reports.
If you complete the Higher Apprenticeship, you can progress to full membership of the Association of Accounting Technicians. You could then complete a professional Accountancy qualification with a chartered body such as ICAEW, ACCA, CIMA, CIPFA, or ICAS. Successfully completing the Higher Apprenticeship offers a fast track route onto chartered studies.
This progression can lead to a specialist role in accounting. It’s also possible to enter a higher education course in a subject related to accounting, banking, insurance, or other financial services. If you’re interested in a finance career, an Apprenticeship is a great way to get into the market.
The Apprenticeship Framework
There are three main strands to an Apprenticeship, known as the Framework: a competence-based element, a technical element and a skills element. As part of the framework the Apprentice will study Key Skills in Application of Number and Literacy at the appropriate level, plus Personal Thinking and Learning Skills.
This course is aimed at people who are working in the accounting environment and wish to achieve an accounting qualification. The Apprentice will achieve a Certificate in Accounting Level 2. Modules of study include: basic accounting 1 and 2, basic costings, working effectively and computerised accounting.
At Level 2 the Apprentice will cover various aspects of Accountancy including: introduction to business accounting, business documents and discounts, the banking system, double entry system, day books, input and output vat, payroll accounting procedures, trial balance, the journal, credit control, the cash book, reconciliations, business law, practical accounting work skills.
The Apprentice will achieve a Diploma in Accounting Level 3. Modules of study include: accounts preparation 1 and 2, costs and revenues, cash management, professional ethics, indirect tax and spread sheets.
At Level 3 the Apprentice will cover various aspects of Accountancy including: turning data into information, producing reports, value added tax legislation relating to computers, accounting packages, working relationships, improving your own performance, identifying ethical issues, short-term and long-term decision making, absorption costing and marginal costing, preparation of cash budgets, statistical analysis, liquidity – obtaining finance, surplus funds, granting credit – assessing a customer’s ratio analysis, communication with customers, intro to reporting and the users of financial information, presentation of financial information and data collection.
Ready to apply for an Apprenticeship?
You need to:
- Register with the National Apprenticeship Vacancy service
- Take a look at our vacancies online
- Hints and tips about your registration
- Give the college’s Apprenticeship Team a call on 01902 837163 and register your interest with us
- We might know of vacancies coming up that you can apply for or offer you support with your application
Have you considered coming to college full-time if you can’t find an Apprenticeship vacancy? You can start on many of our courses on a full-time basis, then if an Apprenticeship becomes available you can transfer across. Everything you’ll have learnt at college will be valuable to you at work. To discuss your full-time course options call 01902 836000.