Working Within the Accountancy Sector
By Jonathan E Richards
Accountancy is probably one of the most popular subjects to study and job sector to work in. There are plenty of job opportunities within the accountancy sector that the number of accountancy firms opened throughout the UK has increased over the past decade. Various schools, colleges and universities are offering accountancy modules to study along with the other separate modules as well, such as law, economics, business, other languages and management.
Qualified accountants can expect to earn a minimum of £25,000 per annum; even trainees will earn a minimum of £18,000 per annum as well. There are a number of different accountancy roles advertised across the recruitment websites, online job boards, in newspapers, directly on the company’s website and recruitment agencies. Some roles include, account clerks, purchase ledger clerks, tax seniors, finance assistants, finance administrators, financial directors, qualified and part qualified accountants, vat consultants and accounts administrator roles.
Every role has different responsibilities and duties, however all financial data compiled together can form the essential profit and loss and balance sheets, VAT returns required quarterly, other financial reports including day books reports, supplier invoice reports, debtor analysis, customer invoice reports and the cash flow within the company.
All of the accountancy roles would require training, the more professional roles will require to pass certain qualifications as well have having an accountancy background. Some accountancy duties can be done directly by the company or individual, such as bookkeeping. This is matter of recording all income and expenditure either on paper, on spreadsheets or using an accountancy software. Depending on the size of the company, bookkeeping can take a long time and would require excellent attention to detail, therefore these roles are usually outsourced to an experienced bookkeeper or accounts firm.
Within an accountancy firm, there are several opportunities to progress so long as the person is willing to study and train. The earning potential can also be very significant, however this can depend on the number of clients the firms has and how good the reputation of the firm is as some accountancy practices can charge a lot more than others. It is definitely a growing sector and one where jobs will always be available. Bristol jobs