Accounting

Accountancy & Tax

Accountants work in a variety of roles within professional services, industry and the public sector.  The profession offers the opportunity to work in general practice, typically in a small to medium-sized accountancy firm, dealing with all aspects of client matters. These could include providing auditing services, accounts preparation and tax work as well as providing financial advice. Accountants working in large firms have more opportunities to specialise in areas such as audit, tax, corporate finance dealing with mergers and acquisitions, forensic accounting dealing with the detection and prevention of fraud, or business recovery and insolvency.

Many accountants begin working life within a firm of accountants but later move into industry to work as a financial controller or financial director. However many begin and stay in industry for the whole of their working lives. 

All companies need accountants to help them manage the business. It is the management accountants who typically provide business leaders with information and advice, monitor performance and help plan for the future.  This is also the case in public sector bodies such as the National Health Service where accountants assist managers in making decisions to allocate and monitor resources and ensure that the public service provides value for money.

The career paths can be many and varied but, as you rise up the ladder to become a partner of an accounting firm or a financial director of a major company, there is tendency to begin to specialise in an area of accounting or within an industry sector. However, at more junior levels it is a portable career as all organisations require accountants of some description.

The average accountant now earns more than £100,000, with salaries and bonuses boosted by a shortage of highly-skilled professionals (Survey by Robert Half for the Institute of Chartered Accountants for England and Wales) (ICAEW).

Relevant professional bodies: