London being a global financial city, one would think that it would be lousy with accountants specialising in taxation and financial reporting.
Indeed, in just about every corner of the city, you may find tax accountants, public accountants, chartered accountants – to say nothing of all of the businesses that have financial and managerial accountants on the payroll.
Does that mean that the market is saturated? That you should abandon any thought of pursuing accounting positions and seek knowledge and skills that address a different career field than accountancy?
Quite the contrary! You should study accounting; maybe specialise in financial and managerial accounting. Here’s why:
Finance magazine Economia reports a potential shortfall of accountants in the years ahead, citing a number in the tens of thousands.
A related article expounds of a dearth of skills that hinders especially school leavers from finding quality employment.
What all of that points to is the need, for people who are not satisfied with their current position, who’ve been let go of their job and who simply need job skills, to get educated.
Would you like to find education courses to ensure your future viability on the job market?
How about accounting education?
Your Superprof now scours the streets of London to find the best opportunities for learning the discipline called accounting.
Although some accountants prefer the 10-key method, you will most likely learn to use computer applications in your accountant training Source: Pixabay Credit: TechPhotoGal
Contrary to the Dickensian Bob Cratchit model of financial adviser, today’s accounting is a multi-faceted discipline that includes the use of computer programs, knowledge of international finance law and regulations, and a whole school of thought called accounting theory.
In the time of Dickens, accountants were not much more than human adding machines; bookkeeping and producing financial statements was the extent of their duties.
It was during those days – the times of Dickens, that corporate accounting and international accounting really gained traction.
International shipping as we know it today was in its infancy and, while the double entry bookkeeping system had long been established, businesses needed an expanded set of rules to properly record credits and debits, and manage assets.
In short, the profession needed an concise list of accounting practices.
The vital function performed by accountants earned the profession a royal charter in 1880 in England and Wales.
However, Scotland’s accountants earned their charter nearly 30 years earlier, in 1854. They are, in fact, the world’s oldest professional body of accountants!
Today, accountants may join the charter that best represents their accounting speciality.
That all sounds very prestigious but, outside of adding and subtracting and manipulating data on a spreadsheet, what do accountants do, exactly?
Briefly stated, accountants measure, process and communicate financial information.
Who they communicate that information to depends on the type of accountant they work as:
Financial accounting involves working with corporations to prepare a quarterly, semiannual or annual financial statement for external entities to review. Those entities may by shareholders or tax authorities.
Managerial accounting also involves financial statement analysis, but only for purposes internal to the company, to help executives make decisions.
Tax accounting involves calculating an entity’s tax liability; you may have consulted with a tax accountant in the past!
Forensic accounting involves examining an entity’s financial records, possibly in anticipation of litigation.
An auditor, by contrast, verifies compliance with financial and tax regulation by examining an entity’s books.
Such an accountant may be called an internal auditor if s/he works within a corporation exclusively.
CPA or certified public accountant performs a variety of accounting tasks; any of the ones mentioned above. Furthermore, s/he may own an accounting business or work in an office with other accountants, which might define him/her as a chartered accountant.
Have you noticed anything particular in these summary job descriptions?
Analysis, reporting, recording… nowhere does it say that accountants must be good at calculation!
So, if you’ve turned away from this lucrative field simply because you fear you are not good at math, no worries!
Although the manual entry ledger still has its place in the accountant milieu, more often these days, accounting is about spreadsheets and accounting information systems.
What an accountant really is, is an analyser, risk taker and trend spotter.
These days, the number crunching is mostly left up to a computer accounting program.
These days, accountants don’t labour in musty attics; accounting firms occupy vast suites in prominent buildings! Source: Pixabay Credit: Nydon
At this point, you might be mulling over which type of accountant you wish to be and how long it will take you to start earning.
You may also ponder where you can learn accounting, and how fast!
All of those variables come down to you and what your personal situation is.
Are you a GCSE student anticipating a career in accounting or an A-Levels student, preparing to sit your exams?
If so, you may already be familiar with AQA’s accounting page. It details accounting particulars and discusses why choosing accounting as a test subject is a good move on your part.
If are such a student, or maybe working toward your accounting degree as an undergraduate, please give us just a moment, we’ll point you to more learning opportunities.
As mentioned earlier in this article, it is school leavers that are the greatest cause for concern, both to economists and to the government.
If you are such a one, or if you simply need retraining for another career field because your company let you go, rest assured that you have plenty of opportunities to learn accounting skills.
Practical Accounting Training is a sterling facility that doesn’t waste a lot of time with correlated education, such as maths or the history of accounting. They take you straight to the heart of the matter, offering courses in bookkeeping, payroll management and cost accounting.
Essentially, you choose the particular aspect of accounting you wish to practice, sign up for those accounting programs.
In a matter of months, after a bit of dedicated study, you will be the proud holder of an award, an accounting certificate or diploma in accounting, depending on the level of study you selected.
Besides conducting their unique accounting course certification program, they function as accountants so, after course completion, you may actually be offered a position with them!
Going by the same acronym, Professional Accounting Training offers a host of accounting training, among them AAT diplomas for basic accounting, intermediate accounting as well as advanced accounting.
You may earn your certificate in accounting by taking a single course through them. What a great way for those aforementioned school leavers and dislocated workers to kickstart their accounting career!
AAT is the Association of Accounting Technicians, the UK’s leading professional membership body for accounting staff.
As it would be in their better interest to train future accountants well, you may count on top of the line accounting information from them!
Whether you are an accounting major looking for just a bit more clarity on the subject of accounting or working toward your MBA; even if you have yet to sit your A-Levels: it never hurts to get knowledge from different sources.
Signing up for such classes might be just the extra help you need to understand accounting concepts or to ace your CPA examination.
Another way would be to engage an accounting tutor.
You may choose to get an online degree in accounting Source: Pixabay Credit: Waldryano
Whether you have chosen public accounting, management accounting, business accounting or auditing as your accounting speciality, most likely, your highest priority would be to seek out the best tuition you can find for your money.
That’s just good economics!
While it is true that plenty of people with a degree in accounting list their tutoring services in places like Gumtree or Freeads, the question would really be: how effective are they at imparting knowledge?
Just because someone has a degree in accounting, that doesn’t mean they are a good teacher – and you wouldn’t be able to recognise that fact from looking at their advert.
That is why Superprof has designed its tutoring platform so that each tutor may expound on their accounting qualifications as well as their pedagogy.
Furthermore, you will find testimonials from past students – a sure sign that that tutor must be good at what s/he does!
You may select a tutor to come to your home or meet you in a mutually convenient location, or you could choose to learn accounting online: each tutor’s profile page indicates whether s/he would be open to instruction via webcam.
In London alone, there are no fewer than 89 Superprof tutors that can help you master generally accepted accounting principles and accounting systems, at an average rate per hour of £33.
However, if you are open to online instruction, you would have more than 5,000 tutors available to you!
And, did you know that most Superprof tutors give their first hour of lessons at no cost?
Bottom line: whether you work in business administration or are planning to join those who enjoy lucrative accounting careers as a certified management accountant, learning principles of accounting, accounting and business, or even just taking online accounting courses is sure to get you where you want to be, career-wise.
Should you need help understanding your course curriculum; earning your undergraduate degree or your Master of Science in accounting, or even in preparation of taking your CPA exam, your Superprof tutors are there for you.
And, once you’ve gotten really good at finance and accounting; gotten some bookkeeping and accounting experience under your belt – proven yourself in the business world…
Who knows? You might even consider entrepreneurship: starting a business of your own!
Should that be the case, Superprof is always looking for a few good accountants to help others with their coursework so they too can earn their accounting degrees.