"The amount of money that a person has in his bank account is not determined by his starting capital but by his knowledge about money and his ability to manage it properly." -Sunday Adelaja
Have you ever been bored by someone talking about accounting and the complex world of finance? If so, you're definitely not the first; however, it's important to state that there is a lot more to accounting and finance than we simpletons understand.
Accountants and financial advisors complete some of the most varied work in the job market today and we all need them to better understand how we can make our hard-earned dough turn into something worthwhile.
Hence, in today's article, we shall analyse a complete guide of accounting and finance for UK-based readers. Let's get started!
What Can I Do With an Accounting and Finance Degree?
After acquiring an accounting and finance degree from a qualified Uni or vocational education centre, the next step is finding a job that will fit your needs and completely engage you. Since the sectors of accounting and finance show no signs of decline in the UK and abroad, there are plenty of jobs available. Such as?
The following are three of the most in-demand careers open to those who have experience in accounting and finance:
- Chartered Accountant: of all careers for those who have studied accounting, the most popular is by far is that of a chartered accountant. Registered accountants in the UK can expect a starting salary between £35,000 and £40,000. Daily tasks of a chartered accountant may include balancing books to find financial errors, auditing accounts to detect fraud, providing financial advice to employees, and preparing invoices or paychecks. A chartered accountant may find work at a private firm, a government entity, or work for themselves.
- Data and Financial Analyst: for those who love to revise numbers and possess an analytical brain, a job as a financial analyst is perfect. Financial analysts work hard at either large banks, investment firms, or for private clients completing tasks such as inspecting investment markers, stocks, hedge funds, and bonds. Data analysts prepare for their future career by studying finance at Uni and consistently keep up to date with news in the world of finance. A salary of approximately £40,000 a year can be expected.
- Stockbroker: does surveying the game and taking financial risks to increase profits interest you? If so, welcome to stockbroking! Stockbrokers work for the stock market or private clients to look after an individual's investments and act as an intermediary between them and the market. Stockbrokers may not get paid very much at an entry-level but they can expect to make nearly £100,000 each year after gaining experience. Having a degree in accounting and finance is perfect for aspiring stockbrokers since they can better understand the trends of the finance market.
The previously mentioned jobs are only a few of the many career possibilities for UK-based accounting and finance grads, read our informative article to find out more future details for those with an accounting degree.
Where Can I Find a Finance Tutor?
Without receiving pointers and helpful advice from experienced professionals, studying a new academic discipline can be very difficult and, at some times, downright discouraging; is there a solution? Absolutely!
Hiring a private tutor when learning a new field of study is a brilliant idea to stay on top of things and acquire knowledge effectively.
When studying finance and accounting at Uni or through an online programme, it would be a great idea to enquire about private tuition classes with a qualified professional. But where does one find the best finance tutors in the United Kingdom? It's simple since there is only one website that is worthy of consideration: Superprof.
Superprof has over 13 million tutors worldwide offering students the possibility to learn over 1000+ topics in their mother tongue. Superprof instructors are experienced, adaptable, engaging, and affordable.
And, while Superprof has become one of the largest tutoring communities on the planet, it still manages to make learners feel comfortable by enabling all to find experienced local tutors that make them feel right at home. For example, according to the following list, in the grand majority of the UK's major metropolitan areas, there are various accounting and finance tutors:
- London: based on recent data from our site, there are currently 300 finance tutors in the London area offering courses to accounting and finance students of all ages and levels. Prices are affordable and the selection of tutors is diverse.
- Cardiff: as the largest city in the territory of Wales, Cardiff is a prime location for finding tutors who teach all types of subjects. According to our site, there are currently 18 finance and accounting tutors that offer hourly rates between £10-35.
- Edinburgh: Glasgow and Edinburgh have a lot of attractive options when it comes to further education centres. However, this time around, Edinburgh proved to have more finance tutors on the Superprof site than the Glasgow area did.
If you would like to know more about other major cities in the UK and the number of finance tutors, consider taking a look at our article.
Before concluding this section, it's important to mention that you will not be disappointed hiring a Superprof tutor to brush up on finance and accounting skills since the first class with a tutor are almost always free of charge which gives you the chance to shop around before finding an instructor that you like.
What are the Best Universities to Study Accounting and Finance?
To be equipped with the skills necessary to dominate in the world of accounting and finance, it is greatly suggested that a person attend a further education course at either a university or a vocational education centre.
While vocational schools and online courses are a great idea, attending a university to capture a degree is an even better idea since you will be eligible for the best employment positions on the job market in the UK.
Therefore, without any further delay, the following are three of the best universities to learn about finance and accounting across England, Wales, Northern Ireland, and Scotland:
- London School of Economics: since London is a mecca of finance, accounting, and business in Europe, and the world, it comes as no surprise that some of the best schools to learn accounting is in England's largest city. The best university to acquire a degree in accounting and finance in London is the London School of Economics. With three fantastic degree programmes such as Accounting and Finance BSc (Hons), Finance BSc (Hons), and Financial Mathematics and Statistics BSc (Hons), LSE focuses more on the quality of their courses rather than an overwhelming quantity. Students become informed of subdisciplines such as macroeconomics, microeconomics, and financial risk modelling.
- University of Leeds: recently voted the best university in the UK for accounting and finance degrees, the University of Leeds boasts a perfect score in terms of employment options for graduates and student satisfaction. According to their most recent curriculum updates, the University of Leeds boasts five finance courses such as Financial Mathematics BSc (Hons), Accounting and Finance BSc (Hons), International Business and Finance BSc (Hons), Economics and Finance BSc (Hons), Banking and Finance BSc (Hons). All accounting courses at the University of Leeds last between three and four years and are designed to greatly prepare alumni for their future career in finance.
- University of Strathclyde: Scotland has a lot of great universities but when it comes to accounting and finance courses, the University of Strathclyde reigns supreme. Why? Well, for the amazing variety of courses that are tailormade for aspiring accountants. There are 21 courses provided for individuals who are interested in accounting and finance that touch on disciplines such as finance and human resource management, accounting and economics, and mathematics, statistics, and accounting. All courses at Strath last between three and five years.
Not satisfied with the three universities we have mentioned above? No worries! Take a look at our extensive article to acquire a more in-depth knowledge of more further education centres in the UK that offer accounting and finance programmes.
Accounting and Finance Resources
After the formative years are over and your career in accounting and finance has begun, it is wise to search for resources that will help to make your job a little easier. Such as? Thanks to the internet and the geniuses of software development, there are various websites, blogs, and interactive programs that greatly aid accountants to complete their daily tasks.
Without further delay, the following are three software systems that accountants and financial advisors should be using:
- Multiview: a perfect operating system that is best used to manage the accounts and financial information of companies with more than 50 employees. Accountants can access include and later access information electronically such as future profits, the budget, the finance ledger, payable accounts, purchasing, and inventory management. Users can select a Cloud ERP product that is best suited for their business.
- BigTime: a one-stop software program that was created in Chicago, USA, BigTime is a great resource to help accountants keep track of their business. BigTime specialises in keeping track of employees timesheets, invoices, and expense reports, and then billing them accordingly. Not only available for use on computers, but BigTime also has a mobile app that was released in 2013 and helps bookkeepers, accountants, and small-business owners keep track of all things finance.
- Quickbooks: probably the most widely recognised accounting software in the world, Intuit Quickbooks is a dream to use because it helps accountants complete tasks such as tracking expenses and income, creating invoices, accepting payments from clients, organising receipts, tracking kilometres travelled for work, getting business insights, tracking your time, paying employees, and tracking the inventory of a business. Quickbooks can easily be downloaded onto a phone, tablet, and computer for on-the-go use. Also, the Quickbooks website offers different plans according to the necessities of an accountant or company.
While the previously mentioned software systems are great for managing the finances of a business, if you want to keep up to date on any of the changes in the UK finance sector, it is best to consult some highly recommended websites such as Gorilla Accounting Blog, and Brookson One, to name a few.
In conclusion, we hope that the information in today's article has given all of our interested UK-based readers a thorough guide into the world of accounting and finance. It can actually be a lot of fun!