- Accounting Technician
The responsibilities of an Accounting Technician:
- Basic Bookkeeping
- Processing and Paying Invoices
- Preparation of Accounts
- Recording Receipts and Payments
- Preparing and Checking Ledger Balances
- Completing and Submitting Tax Returns, VAT Returns and NI Contributions
- Handling Company Expenses
- Handling Payroll Systems
With experience in this field, you are likely to take on further responsibilities, such as;
- Preparing Financial Reports
- Planning and Budget Control
- Helping Qualified Accountants with Audits
As a trainee Accounting Technician, you could be earning between £16,000 – £22,000. With experience, this should increase to £30,000 or more. Salaries will vary dependent on the region in which you work. Higher salaries are likely to be found in major cities such as London.
Skills You Will Need:
- Confidence in Handling Numerical Data
- An Interest in Business and Finance
- Strong Communication Skills
- Excellent Commercial Sense
- Good IT Skills
- A Methodical and Logical Approach
The Benefits of Being an Accounting Technician
Most accounting technicians gain on the job training, so dependent on the sector in which you choose to work and the company, you could gain free training in computer systems and accountancy software, no expense spared. In addition, employers are usually very keen to offer support to employees to allow them to improve their skills further and this could include payment of college fees, or even being permitted study leave within working hours.
The position of Accounting Technician is a great place to start your accountancy career and work your way up. There is plenty of scope to further onto roles such as; auditor, finance controller, payroll manager if you wish to progress.
The Vast Quantity of Employers
You’re certainly not going to be short on ideas of who to work for or where to work. Accounting Technician roles are required worldwide and with the relevant qualifications, and appropriate skill level you’re likely to be snapped up fast. Whether you choose to work in the hustle and bustle of a city or a small and humble town, Accounting Technicians are needed far and wide, providing you with plenty of scope for employment.
2. Chartered Accountant
The responsibilities of a Chartered Accountant:
- Management of Financial Systems & Budgets
- Undertaking Financial Audits
- Providing Financial Advice
- Liaising with Clients
- Reviewing the Company’s Systems
- Performing Tests to Check Financial Information and Systems
- Advising Clients on Tax Planning
- Maintaining Accounting Records and Preparing Accounts
- Advising Clients on Business Transactions
- Counselling Clients on Areas of Business Improvement
- Detecting and Preventing Frauds
As a Chartered Accountant, you could be earning from £25,000 as a graduate. With experience, this could increase from anywhere between £26,000 to £50,000. Higher salaries are likely to be sought when undertaking more responsibilities, and this will come with experience. It will also depend on the region in which you work.
- Motivation and Commitment
- Interpersonal Skills
- Time Management Skills
- Organisational Skills
- Strong Analytic and Problem-Solving Skills
- Leadership Qualities
- Teamworking Skills
The Benefits of Being a Chartered Accountant
This occupation makes for a fantastic career choice if you strive to succeed, have a lot of drive and are keen on earning a handsome salary.
The World is your Oyster…
You will find that the role of Chartered Accountant is a position that’s sought by all varieties of businesses, all over the country, so you won’t have difficulty finding available job opportunities. This allows you to be more specific in what you’re looking for, as you’ll be able to be fussy due to the huge selection of jobs out there.
3. Internal Auditor
The responsibilities of an Internal Auditor:
- Attending Meetings with Auditees
- Travelling to Different Sites to Obtain Documents
- Researching and Assessing How Well Risk Management Processes are Working
- Recording Results
- Providing Ad Hoc Advice to Staff
- Using Software to Help in Recording Data
- Performing Risk Assessments
- Providing Support and Guidance
- Assessing How Well the Business is Complying with Rules and Regulations
- Managing a Variety of Stakeholders
As an Internal Auditor, you could be earning between £22,000 and £35,000. With 3-7 years of experience, this could increase from £32,000 to £53,000 or more. If you decide to take on a more managerial role, you’re likely to see a salary of over £70,000.
Skills You Will Need:
- Ability to Use your Initiative
- Analytical Thinking and Attention to Detail
- Ability to Work Effectively
- Strong Ethical Standards
- High Levels of Integrity
- Demonstrate Sound Judgement
- Strong Communication Skills
- Resilience Under Pressure
- Flexible Thinking
The Benefits of Being an Internal Auditor
Opportunity for Employment
Many businesses understand the importance of internal auditing and therefore have a dedicated department. This ensures that the pool of employers is substantial, from accountancy firms to private and publicly traded companies and the public sector.
Seek your Specialty
There are many areas of auditing so you might find an opportunity to specialise in a certain area that suits you.
There are lots of qualifications and certificates that can be gained over time, allowing you to keep climbing the career ladder until you get to where you want to be. These include; IIA Certificate in Internal Audit and Business Risk, Certified Internal Auditor (CIA) and Qualification in Internal Audit Leadership (QIAL).