Accountants aren’t just the data analysts you might think they are. Sure, math skills are important, but modern accounting is much more dynamic. Accountancy is problem-solving. Accountancy is detective work. Accountancy is communicating with both your clients and your colleagues. Read on if you are feel a career in accounting or auditing could be for you.
What do Accountants do?
- Preparation of accounts
- Create income statements
- Create balance sheets
- Create cash flow statements
- Help individuals and businesses navigate tax laws
- Minimise tax liabilities
- Prepare tax returns required by the UK Government’s HMRC
- Developing budgets
- Forecasting financial performance
- Analysing variances between actual and projected results
- Accountants conduct audits (to verify the accuracy of financial records numbered 1 to 4) and ensure compliance with regulations and standards
- Bookkeeping (keeping our clients’ accurate financial records by recording transactions, balancing accounts, and organising financial paperwork)
- Analyse financial data to spot trends, assess performance, and suggest ways to improve
- Payroll processing (calculating wages, withholding correct income taxes, issuing payslips)
- Financial risks: (creating plans to reduce them, like setting up internal controls and buying insurance)
- Financial planning: help individuals and businesses set financial goals, develop strategies to achieve them, and monitor progress over time
- Advisory services: Accountants provide financial advice and guidance on various matters, such as planning for inheritance tax or business expansion
What qualifications should I take if I want to be an Accountant?
Achieving a grade 5 or 6 in math GCSE might make A-level math challenging. We believe it’s better to pursue A-level subjects that you enjoy and excel in, potentially opting for business or economics over math (unless of course you are hitting 7 or 8 in math). For students at colleges, considering an accounting and finance A-level could be beneficial. At traditional schools, there’s no harm in choosing three A-levels that you know you’ll enjoy and perform well in.
If you love finance, then business and economics makes sense.
If a prospective apprentice approached us at HB, I would be more impressed with higher overall qualifications than seeing a math grade at a low level
Karen chase | Owner Director | HB Accountants
How long will it take me to become an Accountant?
Becoming an accountant in England requires qualifying and gaining practical experience. The time this takes can vary depending on the specific route you choose and your individual circumstances. Here’s a general overview:
- AAT Qualification (Association of Accounting Technicians): This is a foundational qualification that and provides a solid understanding of basic accounting principles and can be a starting point for a career in accounting.
- ACA Qualification (Associate Chartered Accountant): Offered by the Institute of Chartered Accountants in England and Wales (ICAEW), this qualification can take 3 years to complete, including passing exams and gaining practical experience through a training contract with an approved employer like HB Accountants.
- ACCA Qualification (Association of Chartered Certified Accountants): This is a globally recognised qualification for professional accountants. It typically takes around 3 to 4 years to complete all the exams and gain the required practical experience.
- CIMA Qualification (Chartered Institute of Management Accountants): This qualification focuses on management accounting and typically takes around 3 to 4 years to complete. It involves passing exams and gaining relevant practical experience (quite often the route within the Civil Services/Government bodies).
- Degree in Accounting or Finance: Some individuals choose to pursue a university degree in accounting or finance, which typically takes around 3 to 4 years of full-time study. This can provide a broader understanding of accounting principles and may lead to exemptions from professional accounting exams.
The time it takes to become an accountant in England can range from around 2 to 4 years for foundational qualifications, and up to several years for more advanced qualifications and gaining practical experience.
Additionally, the time may vary based on whether you study full-time or part-time, and whether you have any prior education or relevant work experience.
We suggest to our apprentices that the Chartered Route from joining us as a school or college leaver could take circa 7 years to complete – but you will be in full time paid employment during this time and gaining valuable experience.
How long are AAT Apprenticeships with HB Accountants?
The journey to becoming an account with HB Accountants usually takes up to 4 1/2 years. We onboard you at AAT Level 2 and you work your way up to AAT Level 4.
AAT level 4 is the final level of the AAT qualification. Once you have completed Level 4, you will have gained the full AAT Accounting Technician qualification.
Like most qualifications, Level 4 is considered a lot harder than the previous levels. Completing the Level 4 qualification will give you the knowledge and confidence you need in order to progress onto further qualifications like ACCA, CIMA and ICAEW.
Unlike Levels 2 & 3, the Level 4 assessments will include some written elements to them, meaning you will need a good level of understanding about the different topics covered, so you are able to confidently explain certain concepts of the syllabus in your assessments.
What is the difference between an Accountant and a Chartered Accountant?
A Chartered Accountant (ACA qualified) is like a super accountant. They’ve reached the top level in their field by doing a lot of studying and training. To become one, they have work under the guidance of experienced accountants to learn the ropes. They also have to pass some really thorough exams.
Chartered Accountants are known for being experts in handling money, checking financial records, and giving advice on things like taxes and business strategies. They’re the go-to people for businesses and individuals when they need help with their finances.
Being a Chartered Accountant also means they have to follow strict rules about being honest, fair, and professional in everything they do. So when you see someone with “Chartered Accountant” in their title, you know they’re top-notch in the world of numbers and money.
What Does an AAT Apprenticeship look like at HB Accountants – hear from our apprentices!
When you join HB Accountants as an accountancy apprentice, you will start off on your AAT journey on Level 2 AAT. This usually takes around 18 months to complete and sets you up really well for the Level 3 ATT.
This is what Cameron, who joined HB only last year has to say about his Level 2 Apprenticeship;
Hi, I’m Cameron. Since joining in October 2023, I am now halfway through gaining my AAT Level 2 qualification and feeling really confident about moving onto Level 3, around September time.
I bet you think that accountants are just mind numbingly boring number-crunchers, but here at HB, we are the complete opposite! We work in a positive, fun work environment and every day is different. There are so many different aspects of accountancy such as preparing a client’s accounts, making adjustments, meeting with clients on audits (my favourite part) and of course, it wouldn’t be a week at HB without a cake run!!
At HB we are highly apprenticeship focused, I chose an apprenticeship as it gives me valuable work experience whilst gaining a qualification and a career all at the same time
Cameron Vernon | AAT level 2 Apprentice
Let’s talk about a Level 3 AAT Apprenticeship with HB Accountants
Hi, my name is Max, I am a Level 3 AAT apprentice at HB Accountants. Accountancy may seem boring from the outside, but believe it or not, it can be really fun. If you enjoy problem solving and working as a team to achieve a goal, I would highly recommend it.
At HB Accountants you will get a diverse range of experience. I came into my role expecting it to be only accounts and worried that it may be very repetitive. But I was wrong, I am out visiting clients to complete audits, I prepare VAT returns and I am responsible for bookkeeping tasks. You gain experience in many areas.
Every client is different which makes every day a new challenge. I’m really pleased that I decided to work in a practice because it has exposed me to a wide range of new knowledge and skills
Max Dean | AAT Level 3 apprentice
HB Accountants Top 50 SME Apprenticeship Employers 2023
We’re thrilled to share that we were recognised in the Top 50 SME Apprenticeship Employers for 2023 by the Department of Education. This achievement solidified our reputation as the go-to apprenticeship firm in the local business community. While accountancy may not always be seen as a glamorous career, we work hard to highlight its benefits, future prospects, and the enjoyable experiences that you’ll have with your colleagues and client base. We take immense pride in all our apprentices and are delighted to see their passion shining through
The information contained above is for general guidance purposes only. Whilst every effort has been made to ensure the contents are accurate, please note that each individual has different circumstances and it is essential that you seek appropriate professional advice before you act on any of the information contained herein. HB Accountants can accept no liability for any error.
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