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If you have your sights set on working in the big smoke and earning a London salary then you may need a little help along the way to ensure you fight off all the competition.
Regardless of your age, level or ambitions, a tutor can help you to advance forward in the world Accounting thanks to their expert knowledge of the subject and also the different certifications and accreditations you could be about to complete. What's more, contacts can be great when it comes to entering such a competitive market, and although London is a big city there are only so many Accountancy firms to work at if you want to be a part of a big corporation.
In the UK, accountancy members are growing, with the membership of accountancy bodies said to be growing on average approximately 0.5% year on year (based on figures for 2014 to 2018). What's more, it is thought that there are just under 165,000 students seeking to enter the profession, a number which is also increasing annually. Of course, a large number of these students will be based in or around the capital.
Accounting has a long and fascinating history, with London playing a very important part in that story.
Basically, since people could carve in stone, they have been keeping records of transactions. The first English book on bookkeeping was written by James Peele in the 1500s and, with the UK'S position as a great naval country, its economic activity increased in the 18th century. Some of the earliest accountancy firms in the UK were recorded as working during the 1780s, with Bristol being among the first! In the 1870s, a body of Accountants was formed in London and, later that year, discussions took place in London for a Royal Charter with a series of meetings taking place in the city thereafter.
Under the reign of Queen Victoria, a professional qualification and code of conduct were introduced for accountants. The industry has continued to grow and expand ever since.,
Accountants have a vital role in businesses as well as supporting individuals with their tax needs. They help balance books, ensure that a business is in profit and suggests ways to reduce expenditure, making them respected and held in high regard by management.
Accountants might work in a number of areas including taxation, auditing and management, forensic accounting, sales and acquisitions, taxation, corporate finance or debt recovery. Some might take up a position in the finance department of a company while others may deal directly with clients as part of an accountancy firm.
Did you know, that the majority of accountants are quite well off because of an attractive salary and knowing how to budget their finances? A number of accountants famously invented some really cool things like a guitar (Leo Fender, once accountant) and bubble gum (Walter E. Diemer who was working as an accountant at a chewing gum factory)? You see, it's not all about numbers all day long, some accountants get to become really involved in the company's work and vision.
Accountants do such an important job so it's a great profession to aspire to get into. Rumour has it that it was down to the accountants at the FBI that Al Capone got brought in and charged for tax evasion!
With the industry continuing to grow decade by decade, there is naturally a demand for accountants which means this is a secure profession. Every business or sole trader needs an accountant so there is much business out there for grabs, particularly in places like London, but there's also quite a bit of competition.
There's also room for progression in this career with many accountancy firms hiring juniors who work their way up the salary scale. You can expect London wages to be much higher than the average wage elsewhere in the UK.
A poll suggested that the average salary in 2018 for accountants from part-qualified level up to senior levels was £62,042, but there's also the possibility of starting up your own business and earning more than if you were employed. You don't even need to be based in London full-time to do this as you could run your business from home or commute into the city for meetings.
As we've mentioned, accountants tend to be very good with their money, which comes with their training on how to manage finances.
To become a chartered accountant, you must train and qualify but entries are accepted from a wide range of disciplines. You can study with or without a degree, but the higher your level of qualification then the more attractive you'll be to employers.
You can also gain certificates in Finance or Accounting and Business (CFAB) to boost your employability as an undergraduate.
There are three institutes of chartered accountants in the UK: Chartered Accountants Ireland (oversees both Ireland and Northern Ireland), ICAEW and ICAS.
The City of Westminster College and the University of Westminster offer AAT Accounting diplomas and certificates and an Accounting Bsc Honours Degree respectively, while the University of London also offers a Bsc in Accounting and Finance.
You can also study in the evenings at Birkbeck University of London across three years, which is great for those training alongside a job. For more information on the courses on differ in London, you can search UCAS or WhatUni.Com for accountancy degrees or courses in the capital.
Accounting is a popular choice amongst UK students, but the good news is that it's also a subject that is frequently offered by tutors! At Superprof, you'll find over 400 private tutors in London offering tuition in accounting and finance. You can learn accounting online or in person, with your first hour free in most cases and with prices to suit your budget.
Use our online directory to filter your results by borough, by experience, by expertise, by chartered accounting status or institute and so on... you are sure to find the best tutor for you!
If you are unsure of anything, you can read reviews from students who have already got ahead with their accounting studies.
Hiring a London tutor to support your accounting studies means that you won't fall behind and you can complete the course in the fastest possible time with the best possible result.
The average price of Accounting lessons is £27.
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97% of teachers offer their first lesson for free.
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