All small businesses know that they need the services of a bonafide small business accountant to support their business and handle their tax affairs. But how do people like us go about becoming a professional accountant in the UK?
Some of you may think it’s easy and some might think that accounting service charges are overpriced because they don’t understand the level of study, academia and qualifications required to be an accountant in London.
So today we thought we would take a look so as to help our clients better understand why a qualified premium accountancy services provider is vital to their business.
The Start
The field of accountancy and professional bookkeeping can be perceived by some outside of the industry as a fairly uneventful or even a mundane career, but once you start to understand the intricacies required to become a small business accountant and the wide range of different tasks involved,it can become incredibly fulfilling.
One of the earliest choices people make is regarding the accounting services they want to work in and will choose whether to work in the private or public sector.
We are often asked what exactly are the skills you will need to become a professional accountant and our first advice is that you will need more than simply being good at maths.
Simply being a good mathematician does not always mean you have the skill set required to communicate accurate financial information, and turn that information into realistic targets and help the business owners with strategies that drive business growth.
Having a reasonable level of analytical, interpretation and adaptability skills can make a great small business accountant, but of course the other area you will need to focus on are the preferred qualifications to work in accountancy or practice as an accountant.
If you want your prospective clients to trust you to deliver the accounting services they want and with a high level of expertise, they will want to see your qualifications.
The Certificates
You don’t become an accountant overnight and it can often take between 18 months to 3 years to become a fully qualified accountant, however this is wholly dependent on the route you take. There are a number of ways to start and a popular route is through an apprenticeship programme or the internationally recognised AAT accounting qualification.
The AAT accounting qualification has no entry requirements and is typically the minimum level expected of an accountant. However if you wish to become a chartered accountant in London, there is another level of study to complete, these being the ACCA, ACA or CIMA qualifications.
Holding a university degree is something that is often brought up by people looking to gain a foothold on the accounting services career ladder, but these days, it’s often desirable rather than essential. Even if it is a prerequisite for a role, the degree can usually be in any subject.
As a newbie into the field you will benefit from A Level qualifications in economics and maths, but to gain those important accountancy qualifications you need, a degree is not always a prerequisite qualification.
Once you delve more into the requirements for becoming a professional accountant in the United Kingdom you will find that most professional bodies provide courses for students and workers at all levels.
Researching the options is key and choosing the right course for you and your desired accounting careers route, will see you on your way to becoming a professional small business accountant.
But as well as those qualifications there are a number of other skills that make a great accountant and one of those which we see as incredibly important is a strong focus and attention to detail. As professional London accountants we simply cannot afford to put ourselves or our clients in a position where we are glossing over the facts. Accounting errors not only have a major impact on a businesses day to day running, but there are long term implications such as tax and VAT errors which can be costly for the company and for the accountants.
The Wrap
Once you have started your studies you will want to think about the field you want to specialise in. Management accounting and financial accounting both include a range of further specialist fields such as budget and financial analysis, and working as a financial controller.
Understanding the difference between management accounting and financial accounting is quite simple. In management accounting you deliver the information to the companies directors or managers.
With financial accounting services the information you collate is primarily for providing information to those outside of a company such as HMRC.
Choose your training route and get started on the road to becoming a small business accountant and building a career in accounting services.
For businesses who need accounting advice straight away, talk to one of our team today.
