Accountancy
What does a career in Accountancy involve?
This Apprenticeship could find you working in an accounts department, 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 – from large public sector companies and major corporations, to football clubs and small media firms. Whatever type of company you want to work for, they will always need the services of an accountant.
Accounting itself is a highly skilled profession, with accounting staff working at many different levels. Apprentices will take the AAT NVQ qualification relevant to their Apprenticeship level.
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. Depending on whether you work for a large or small company, you could be specialising in one area – like sales – or doing all these tasks as well as handling banking and petty cash.
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 through exemptions from certain parts of the syllabus. The extent of these exemptions is different from body to body.
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.
What type of Job Role can this lead to?
- Accounts Clerk
- Credit Control Assistant
- Finance Assistant
- Purchase Ledger Clerk
(Source: www.apprenticeships.org.uk)
What do I need to start?
1. Previous qualifications/training
No previous qualifications required, however you will be required to take a Key Skills initial assessment based on literacy and numeracy and attend a college interview.
2. A Job
You will need to have an Accountancy related job and be employed for a minimum of 16.5 hours every week.
What will I get out of it?
1. Earnings
The National Minimum Wage for Apprentices is £2.50 per hour, however research has found that Apprentices earn an average of £170 net pay per week. Research also shows that Apprentices earn, on average, over £100,000 more throughout their lifetime than other employees.
The starting salary (once qualified) is £12,000 - £16,000.
(Source: www.apprenticeships.org.uk)
2. Prospects
Apprenticeships train you in the skills employers want, they give you choices in your career. When you’ve finished you can carry on working, maybe get promoted or go on to higher education in a college or university.
How much does an Apprenticeship cost?
The government cover the full cost of training for 16-18 year olds and contribute towards costs for those aged 19 or above.
How do I apply?
Not sure if an Apprenticeship is right for you?
Call Employer Services on 01902 317691 for more information or to book an appointment with a Careers Advisor