David Duvall Training Manager Chantrey Vellacott DFK What’s accountancy all about?

What do accountants do?

Where do accountants work? In practice – for accountancy firms or for themselves In industry In the City of London In government (national and local) As consultants As trainers WIDE RANGE OF OPTIONS FOR NEWLY- QUALIFIED ACCOUNTANTS

Accountants in practice Auditing the accounts of businesses Preparing accounts –financial accounts –management accounts Calculating tax Giving advice on developing and improving businesses Rescuing or winding up businesses

Accountants in industry Preparing accounts –management accounts, usually every month –financial accounts, every year Advising management in decision-making Preparing budgets for the future

Types of accountant Chartered (ICAEW) Certified (ACCA) Management (CIMA) Accounting technician (AAT) Public sector (CIPFA)

How do you become an accountant? Choice of entry routes: –graduates –straight from school Graduates –no need to study accounting at university –usually 3 years to qualify School-leavers –usually through AAT (2 years) –then ACA (ICAEW) or ACCA (2 years)

How do you train? Exams Professional development courses On the job

Exams ICAEW –Certificate level (CFAB) –Professional level –Advanced stage ACCA –Fundamental –Professional AAT –Levels 2, 3, 4

Studying for exams Practising firms give study leave to attend courses with professional tutors Also need to study evenings and week-ends – about hours a week How many hours in a week?

Hours in a week 168 (56)Sleep (8 x 7) (40)Work (8 x 5) (10)Travel to work (2 x 5) (21)Eating, washing etc (3 x 7) = 41:Studying Fun 26-31

Accountancy is FUN Accountants are INTERESTING