Inside Careers Guide to Chartered Accountancy

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WHAT IS CHARTERED ACCOUNTANCY? Accountants work in all business sectors, both public and private, using their knowledge, skills and expertise to give professional advice to organisations on a variety of strategic, commercial and financial issues. Here we take a closer look at what it means to be a chartered accountant. What do chartered accountants do? ICAEW Chartered Accountants are recognised around the world as being highly qualified professionals. They are known for their ability to deliver the highest professional standards, wherever they work, however large or small the challenge. The skills that ICAEW Chartered Accountants have are valuable to businesses of all kinds. They often work in strategic positions that affect the direction and success of the organisations they work with. As a chartered accountant, you can work across a diverse range of specialist financial areas including reporting, taxation, auditing, forensic accounting, corporate finance, business recovery and insolvency. Depending on the area you choose to specialise in, typical tasks could include: • Continuous management of financial systems and budgets. • Undertaking financial audits – an independent check of a company’s financial position. • Liaising with clients to provide financial information and advice. Chartered accountancy involves more interaction with people than you may think. 8 Accountancy | www.insidecareers.co.uk/acc
WHAT IS CHARTERED ACCOUNTANCY? While technical knowledge is vital, it’s also about being able to understand key business challenges: solving problems, finding answers, analysing information and interpreting facts and figures to make business recommendations. You’ll need to be able to communicate your expertise to colleagues, managers and clients in an easy to understand way. What’s the difference between an accountant and a ‘chartered’ accountant? Anyone can call themselves an accountant, but a chartered accountant is a highly-qualified professional (someone who has studied for at least three years and passed rigorous exams) and a member of a professional body with a royal charter, such as ICAEW. They will be able to have the letters ACA after their name and are also bound by a Code of Ethics. Whether you’re an accountant, engineer or surveyor, being ‘chartered’ means you’re at the top of your profession. Types of accountancy There are two main types of accountancy – financial and management accountancy. MANAGEMENT ACCOUNTANTS Management accountants provide financial information internally within an organisation. This could be, for example, data given to management to aid in decision making. As a management accountant, you might get While technical knowledge is vital, it’s also about being able to understand key business challenges: solving problems, finding answers, analysing information and interpreting facts and figures to make business recommendations. involved in performing budget analysis, financial planning and forecasting. In management accountancy, the emphasis is on forward planning and the achievement of financial goals. FINANCIAL ACCOUNTANTS Financial accountants provide information for the use of people external to a company, such as shareholders, investors and creditors. Financial accountants focus more on the summarising of a company’s current position, reporting on a company’s profitability, liquidity, solvency and stability. Unlike management accounting, financial accounting is required by law. Many graduates entering the accountancy profession will do so through financial accountancy, working in professional services or public practice. You could choose a career in any of the following specialisms: • Audit and assurance • Business advisory • Business recovery and insolvency • Corporate finance and risk management • Forensic accounting • Taxation. • Accountancy | www.insidecareers.co.uk/acc 9
Page 1 and 2: IN PARTNERSHIP WITH THE ONLY GRADUA
Page 3 and 4: Visit www.insidecareers.co.uk/acc f
Page 5 and 6: GRADUATE PROFILES Audit Senior - Hi
Page 7 and 8: INTRODUCTION FROM ICAEW Mark Prothe
Page 9: FINDING THE RIGHT JOB Education & S
Page 13 and 14: FIVE REASONS TO BECOME AN ICAEW CHA
Page 15 and 16: AREAS OF WORK WHERE ICAEW CHARTERED
Page 17 and 18: ACCOUNTING & FINANCE SALARY TRENDS
Page 19 and 20: EDUCATION & SKILLS Problem solving
Page 21 and 22: CHOOSING THE RIGHT EMPLOYER • Pro
Page 23 and 24: INTERNSHIPS & WORK EXPERIENCE Accou
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Page 35 and 36: INTERNSHIP PROFILES The atmosphere
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Page 39 and 40: GRADUATE PROFILES As you progress t
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Page 45 and 46: SENIOR PROFILES hone my people skil
Page 48 and 49: ABOUT ICAEW At ICAEW, our members a
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Page 52 and 53: ICAEW STUDENT SCHEME If you’re st
Page 54 and 55: EMPLOYER DIRECTORY Albert Goodman 5
Page 56 and 57: EMPLOYER DIRECTORY Chartered Accoun
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EMPLOYER DIRECTORY Barnes Roffe is
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EMPLOYER DIRECTORY BDO LLP is one o
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EMPLOYER DIRECTORY Who are we? Base
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EMPLOYER DIRECTORY We are looking t
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EMPLOYER DIRECTORY Citroen Wells is
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EMPLOYER DIRECTORY A career full of
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EMPLOYER DIRECTORY Haslers is an aw
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EMPLOYER DIRECTORY Are you looking
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EMPLOYER DIRECTORY Our future is in
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EMPLOYER DIRECTORY Hillier Hopkins
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EMPLOYER DIRECTORY If you are a bri
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EMPLOYER DIRECTORY Kingston Smith i
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EMPLOYER DIRECTORY Firm structure K
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EMPLOYER DIRECTORY Lubbock Fine pro
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EMPLOYER DIRECTORY About Mazars Maz
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Dare to be Remarkable Menzies LLP i
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EMPLOYER DIRECTORY We're looking to
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EMPLOYER DIRECTORY Based in London,
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EMPLOYER DIRECTORY Rayner Essex has
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EMPLOYER DIRECTORY TRAINEE PROFILE
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PERSONALITIES WANTED GET THE CAREER
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EMPLOYER DIRECTORY TRAINEE PROFILE
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EMPLOYER DIRECTORY At Smith & Willi
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EMPLOYER DIRECTORY Who are we? Wilk
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JOB FINDER TYPES OF OPPORTUNITIES C
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JOB FINDER TYPES OF OPPORTUNITIES C
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100s Jobs Find your dream Accountan
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BE INSPIRED TO D WO O RK GREAT Grad
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Inside Careers Guide to Chartered Accountancy

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