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Why work in accounting?

Accountancy has a reputation of being boring - however, the reality couldn't be further from the truth! Accountancy offers strong career development, variety and lots of customer contact in a stimulating environment.

Additionally, roles in the accountancy sector offer strong salary packages.

While accountancy makes a great graduate career, you don't need a degree to work in the industry. You will need a good education (at least two A-levels), strong team-working ability and, of course, numeracy skills.

Accountancy careers can be in many different areas - from all sectors of industry in the public sector. Of course many accountants work in dedicated accountancy firms - as chartered or certified accountants. This is known as "private practice".

Private practice

The majority of activity in private practice is "audit". This involves reviewing clients' accounts to understand in depth the operation of their business. You will provide insight to the client about the areas of their business that are successful, and those that are not.

Other areas of private practice involve advising customers on their tax liabilities (and how to minimise the effect), and providing advice to businesses in insolvency.

Working in industry

Many accountants who work in industry start out in private practice. In this role accountants will help their businesses to achieve maximum profitability through providing input into strategic decision making.

Qualifications

Accountancy qualifications are provided by a number of different boards - the common ones being ACCA and CIMA. Typically, study lasts for three years.

Most accountancy employers will support you through the qualifications.

Typical accountancy roles

Entry level

If you're looking to get into accounting, these roles are the best entry points:

Purchase ledger - dealing with invoices/credit from suppliers. Usually an administrative role involving keying into Sage (or other accounting software).

Sales ledger - another inputting role, this time of sales made (and those who owe the business money).

Credit control - involves chasing customers who haven't paid, usually via correspondence but also on the telephone.

Audit clerk - this is the perfect entry point into a career in auditing. 

Part-qualified roles

These are ideal roles for those who have commenced their accounting studies:

Business analyst- reviewing a company's financial results to understand trends and underlying causes of performance.

Management accountant - producing profit and loss accounts to understand the financial health of a business.

Fully qualified and senior roles

Financial controller - typically a management role, similar to a management accountant but with wider scope.

Financial director - the most senior financial role in any business. The FD is responsible for the financial management and reporting in the business.