Accountant (chartered)

Chartered accountant job description: Typical employers | Qualifications and training | Key skills | Useful links | Find jobs and courses

Chartered accountants provide financial advice to clients that range from multinational organisations and governmental bodies to small independent businesses. Accountants often specialise in particular areas of practice, with these areas including audit, management consultancy, recovery, forensic accountancy, taxation, assurance, and corporate finance. Typical duties include:

• preparing accounts and tax returns;
• administering payrolls and controlling income and expenditure;
• auditing financial information;
• compiling and presenting reports, budgets, business plans, commentaries and financial statements;
• analysing accounts and business plans;
• providing tax planning services with reference to current legislation;
• financial forecasting and risk analysis;
• dealing with insolvency cases;
• negotiating the terms of business deals and moves with clients and associated organisations;
• meeting and interviewing clients;
• managing colleagues, workloads and deadlines.

Work tends to be office based, although audit projects may keep graduate accountants away from home for one night or several weeks. Working hours may often extend beyond the regular nine to five at peak times such as at the end of the financial year, and are common in the commerce and financial sector.

Typical Employers of chartered accountants

• Private firms of accountants
• Professional services firms
• Industrial organisations
• Not for profit organisations
• Charities
• Commercial and corporate organisations
• Governmental bodies
• The public sector.

Vacancies are advertised by careers services, TARGETjobs City and Finance, in national newspapers and in specialist publications such as Accountancy Age. The professional institutes regularly produce lists of training vacancies.

Qualifications and training required

Graduates from any academic background can train as a chartered accountant, but should have an excellent academic record, including five GCSEs (grades A - C, including maths and English), good A levels and an honours degree (2.2 or above). Large firms of accountants often require 260 - 300 UCAS points in addition to a first or 2.1 degree. While previous study of accounting, finance or business related subjects is not prerequisite, this may allow exemptions from some exams. Prior legal knowledge, especially in relation to taxation, may be beneficial.

Qualification as a chartered accountant takes at least three years, and can be demanding; study for exams takes place alongside full-time employment and graduates should carefully consider the package offered in their training contract. While working toward chartered status, provisions for training and study leave play an important role in job satisfaction, as well as salary and the atmosphere of the firm where you work.

As part of the training, graduates must complete three years of relevant work experience. Prior experience gained through relevant internships may count toward this, but the work experience must always meet certain development objectives and be supervised by an employer approved by the qualification provider. Qualification is dependent on the fulfillment of these training objectives, professional exams, and a professional ethics assessment.

There are several separate institutes of chartered accountants (see links below) and entry requirements do vary. Previous experience is unnecessary, although many employers offer vacation courses, workshops and placements which can give a useful insight into the profession, and reflect well on applicants' relevant knowledge and interest in the industry. Certain large firms have preferences for qualifications from specific institutes, although training generally covers the same topics and skills. In order to maintain chartered status, accountants are required to pursue objectives toward continuing professional development (CPD) each year.

Key skills for chartered accountants

Chartered accountants go through a rigourous recruitment and qualification process, and this is reflected in their high professional status. Employers look for graduates with the following skills:

• Self-motivation;
• Responsibility;
• Ability to reflect - on one's own work as well as the wider consequences of financial decisions;
• Business acumen and interest;
• Organisational skills and ability to manage deadlines;
• Teamworking and interpersonal skills;
• Proficiency in IT;
• Analytical ability;
• A methodical approach and problem solving skills;
• Mathematical ability and knowledge.