The accounting profession is experiencing new cultural challenges when it comes to addressing “Generation Y”, modern roles have adapted and no longer fit the ’bean counter’ stereotype. Computers have taken over the mundane number crunching and graduate roles focus on analytical skills. Employers have designed schemes to attract the brightest and most driven students, through a combination of top quartile pay, excellent benefits, potential for travel and sponsorship for professional qualifications.
Accountancy is the art of communicating financial information between the business and other users, such as managers and shareholders. This communication is generally delivered in the form of financial statements, which are capable of showing in clear and concise money terms what economic resources are currently under the control of the management.
The disciplines on offer are extremely varied, but fall into four main service line areas: Audit, Tax, Consulting & Corporate Finance. All of them have extensive interaction with clients who range from individuals and small businesses to international conglomerates. Most of your time will be spent on-site with clients so there are plenty of opportunities to develop relationship management and consulting skills.
After finishing university you might think the last thing you want to do is go back to college, in the accounting field thats exactly the first thing you do! The training required for CIMA or ACCA professional qualifications is tough, you will spent a lot of time in the classroom and be put through greuling exams. With a three-year training contract costing up to £100,000 the price of failure is high – a number of graduates are dropped each year for not meeting the grades, so its certainly a stressful start to your career.
Audit
Performing external reviews of financial information such as Accounts and Annual Reports, or internal reviews of management information flows
Tax
Assisting individuals and companies prepare their tax returns. Formulate tax strategies to help them make strategic decisions on financial choice, tax deferral, expensing items and the impact of corporate mergers or acquisitions.
Advisory
Accounting consultants work alongside clients, offering a wide range of advisory and technical skills ;from restructuring underperforming businesses, to advice on systems and technology