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Accountants work in either financial accounting or management accounting. Some do both but the majority specialise. Financial accounting involves bookkeeping maintaining accurate records, then interpreting them – using them to draw up annual profit and loss accounts and annual balance sheets- which show a company’s or a person’s results or financial position.
An individual or self-employed person needs this information for his or her own purposes and also for the Inland Revenue whose staff decide how much tax must be paid. Management accounting is done for a company’s own purposes.
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Accountants are employed in industry, commerce, in the public and private sectors, in accountancy practices’ in large and small organisations and some work for themselves. They do financial work for multi-national companies; for private organisations and for a wide variety of clients if they so choose. |
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Just think of all organisations in the world that need financial advice and money management services; governments, businesses, manufacturers, retailers, airlines, theatres, football clubs, charities and people – millionaires, small trades, pop stars. Accountants can and do work for all of them. There are two levels of accountancy work. Professionally qualified accountants
have studied for several years and usually belong to one of the major
professional bodies. The qualification awarded by such a body gives them
the right to practise the profession. |
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| Accountancy technicians are less highly qualified but nevertheless do responsible work. They assist qualified accountants and work under their direction. They do much of the work required in preparing financial statements for clients and may conduct their own correspondence. |  |
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Accountancy is a "people" business requiring good communicators – in speech and in writing; the ability to listen, discuss, understand, argue and persuade – all logically; take the initiative and demonstrate real leadership skills. A sense of humour is important, as is the ability to work hard and often for long hours. Feeling comfortable with figures as tools is also an important commodity. Given that you are to have a lot of exams to pass – you must be intelligent and academically capable. |
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You will need the qualifications specified by the professional body whose training route you decide to follow. Although people enter training with different levels of qualification, there are minimum requirements. These vary slightly with the different associations and institutes but as a general rule you will need qualifications equal to ‘A’ Levels to train as an accountant and GCSEs to become an accounting technician. |
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This article appears with thanks to Calderdale
College and first appeared in the Halifax Courier.
Note: From 1st July 2010, the AAT Accounting Qualification replaced the college-based Diploma and work-based NVQ routes with a new qualification structure. The new qualification has three levels:
Instead of exams, you will take a series of computer-based assessments that reflect practical workplace tasks. You can study for the AAT Accounting Qualification full- or part-time at colleges or training centres, or via distance learning.
Each level counts as a qualification in its own right, and completing all three levels leads to the full AAT Accounting Qualification.
For full membership of the AAT, you must pass all three stages of the qualification, and have at least a year’s approved work experience. You can find more details on the AAT website.
Once you are fully AAT qualified, you could study further to become a chartered accountant. Your accounting technician qualifications mean that you can usually bypass the first stage of professional exams.
For further information on courses, please contact your local college or careers service.
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Accountant: Industry and Commerce |
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Accountant: Private Practice |
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Accountant: Public Finance |
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Accounting Technician |
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Accounts Clerk |
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