Accounting

About Accounting

Accounting is a fundamental part of any business/organisation. As an accountant you will always have a job available as the number of companies is growing year by year and they will always need an accountant. Accountants are responsible for keeping track of the financial dealings and monitoring the tax obligations of the business/organisation. The accountant of a business/organisation is also responsible keeping track of all spending and that the business/organisation does not go over its budget.

As an accounting you will need to pay for membership with one of the accounting bodies. There are many different bodies, some are listed below:

• Certified Public Accountants (CPA India)
• Institute of Chartered Tax Practitioners India (ICTPI)
• Association of Chartered Certified Accountants (ACCA)
• American Institute of Certified Public Accountants (AICPA)

Type of Course

The course will involve formal online or in person lectures, which you will have to attend and then carry on studying in your own time as well. At the end of the course you will have formal assessments which you will need to pass.

There are 3 different levels to accounting courses:

• Low (level 2) - this is equivalent to GCSE level
• Medium (level 3) - this is equivalent to A-levels
• High(level 4) - this is equivalent to first year of university

Entry Requirements

To attend these courses you will need:

• To have GCSE of grade C (grade 4 under new rules) or above in english and mathematics (or equivalent). Some may require at least 5 GCSE including english language and mathematics;
• At least 16 years of age;
• Live in the country you are applying.

GCSEs that suit this Course

Regardless of what GCSEs you do you can always go down various career paths, but certain GCSEs will give you an advantage and some will be required. Below is a list of GCSEs which will help you with accounting course:

• English Language and Literature *(required)
• Mathematics *(required)
• IT

A-levels that suit this Course

You will most likely not need A-levels to enter any course, but you will need to future proof your career, so it is still good to have A-levels. Regardless of what A-levels you do you can always go down various career paths, but certain A-levels will give you an advantage and some will be required. Below is a list of A-levels which will help you with accounting course:

• Mathematics
• Computer science / IT
• Economics

Duration of Course

‍The course has different levels Low (level 2), medium (level 3) and High (level 4). Each level will have varying duration, see below:

• Low (level 2) - 3 to 6 months
• Medium (level 3) - 6 to 12 months
• High (level 4) - 6 to 12 months

Course cost

The accounting course will cost between £0 - £1000 depending on which provider you go through and the level you apply to.

Who This Course Suits?

Every course will be enjoyable and suit different personalities, below is a list of characteristics and personalities which will enjoy a accounting course:

• Enjoy working with excel sheets
• Enjoy mathematics and working with numbers
• Enjoy business and assessing business finance

Module /Topics

Accounting course has many topics that need to be covered, below is a list of the topics that will be in the curriculums for low level (level 2):

• Introduction to bookkeeping;
• Principles of bookkeeping controls;
• Principles of costing;
• The business environment;

Below is a list of the topics that will be in the curriculums for Medium level (level 3):

• Advanced bookkeeping;
• Business awareness;
• Financial accounting - Preparing financial statements;
• Management accounting techniques;
• Tax process for business;

Below is a list of the topics that will be in the curriculums for High level (level ):

• Management accounting;
• Management account decision and control;
• Drafting and interpreting financial statements;
• Internal accounting systems and controls;
• Professional level synoptic;
• Business tax;
• Personal tax;

Industry Sectors

Accounting course allows you too apply to different industries, below is a list of them:

• Finance (investment banking, retail banking, HMRC);
• Any corporate company (as all need accountant teams);
• Third party accounting firm;
• Government (public sector);
• Insurance companies;
• Fast Moving Consumer Goods (FMCG);
• Sales;

Types of Jobs

Accounting course allows you to apply to a wide variety of roles, below is a list of roles for low level (level 2):

• Accountant assistant;
• Purchase/Sales ledger clerk;
• Finance assistant;

For medium level (level 3) you can do all roles for low level as well as the ones below:

• Bookkeeper;
• Payroll supervisor;
• Finance officer;

For high level (level 4) you can do all roles for low and medium level as well as the ones below:

• Senior bookkeeper;
• Commercial analyst;
• Senior Finance officer;
• VAT accountant;
• Payroll, payments manager;
• Fixed asset accountant;
• Indirect tax manager;

Work hours and Salary

You will normally work between 37.5 - 40 hours a week depending depending on how the contract will be written out.

Low level (level 2):

• You can expect between £18,000 - £23,000 at the start;
• Once you have some experience (2-4 years) you can expect between £22,000 - £26,000;

Medium level (level 3):

• You can expect between £22,000 - £28,000 at the start;
• Once you have some experience (2-4 years) you can expect between £25,000 - £35,000;

High level (level 4):

• You can expect between £28,000 - £34,000 at the start;
• Once you have some experience (2-4 years) you can expect between £31,000 - £45,000, some can earn even more if progress faster or with more experience;