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Commerce Accountant Profile

 
Introduction

This Section of the site details information that you might find useful if you are looking to secure employment or require further details regarding working as a Commerce Accountant. This page details the following Information:-

  • Finding Suitable Work as a Commerce Accountant
  • Working Duties Expected
  • Hours and Environment
  • Working Skills Required
  • Training Requirements
  • Salary Expectations
  • Trade Information
  • Other useful Commerce Accountant Work Information


Finding Suitable Work

This website features a volume of Job vacancies advertised on behalf of a number of different employers and specialist recruiters that post vacancies on a regular basis so you can start your search for work right here:-

Click here to View all the latest Commerce Accountant jobs online today

 

We feature many Commerce Accountant Jobs live online at this site and these posts are updated daily. Please book mark this page and return here on a regular basis or register with our site for Jobs by email so that you don't miss out on the latest work opportunities.

Working Duties Expected

Industry and commerce accountants provide a wide range of accountancy and financial services to clients ranging from multinational organisations to local businesses. This area of accountancy can be divided into either financial accountancy or management accountancy.

Financial accountants are responsible for keeping financial records, and the work includes:

  • keeping detailed records of an organisation's financial state
  • checking the efficiency of the computerised financial systems, including bookkeeping and VAT records
  • drawing up annual financial statements and regular monthly or quarterly accounts
  • providing the financial information needed for making business decisions
  • overseeing credit control systems
  • comparing performance with budgeted projections
  • carrying out internal audits.


Management accountants are responsible for assessing the financial implications of business. They may carry out many of the above tasks, plus the following:

  • management and strategic planning
  • advising managers on all aspects of financial policy
  • forecasting the costs, effects and benefits of buying new businesses or equipment or increasing staffing numbers
  • reviewing existing systems
  • suggesting ways of improving efficiency and raising profits.


Hours and Environment

Accountants in industry and commerce usually work normal office hours, but occasionally need to put in extra hours during busy times, such as the end of the financial year. Part-time work may be available in many areas.

The work is usually based in offices, for various organisations, which vary in size and conditions. Some travel may be required and business trips overseas may be necessary.

Skills and Interests

To be an accountant in industry and commerce you should:

  • have excellent numeracy skills
  • have an enquiring mind, capable of lateral thinking and problem solving
  • have an interest in the world of business and commerce
  • be able to form good business relationships with colleagues and customers
  • be discreet and tactful
  • have good communication skills for writing reports and making presentations.


Entry

Accountants with a recognised accountancy qualification can work in industry and commerce. A common entry route into the profession is with a degree in accountancy or related subject. Some degree subjects give exceptions from professional accountancy examinations. Information on exemptions can be obtained from professional bodies, universities and colleges. Accountants undertaking audit work must hold a recognised audit qualification from one of five recognised qualifying bodies:

Institute of Chartered Accountants in England and Wales (ICAEW)
Institute of Chartered Accountants of Scotland (ICAS)
Institute of Chartered Accountants in Ireland (ICAI)
Association of Chartered Certified Accountants (ACCA)
Association of International Accountants (AIA).

Over half of all qualified accountants have chartered status: minimum entry requirements are typically three GCSEs (A-C)/S grades (1-3) including English and maths, plus two A levels/H grades or equivalent qualifications.
There is no upper age limit for entry to accountancy careers. AIA has a mature students scheme for those over 21 years old with a minimum of three years'' accountancy experience. ACCA has a similar route for those over 21 without formal academic qualifications, with relevant work experience.

For details of qualification equivalents see:

Qualifications and Curriculum Authority (England, Wales and Northern Ireland)
Scottish Qualifications Authority
An Access to Higher Education qualification may also be accepted for entry to certain courses. If experienced in a related field, you may be able to gain recognition of skills through Accredited Prior Learning (APL). Please check with colleges or universities for exact entry requirements.

Note:Some employers / job advertisements make reference to CCAB qualifications as entry requirements. The CCAB is the Consultative Committee of Accountancy Bodies, which is an advisory organisation made up of six professional accountancy bodies including some of those listed above. There is no CCAB qualification as such, however, reference to CCAB qualifications actually refers to qualifications awarded by the six professional bodies themselves. For more information on CCAB see contacts below.

Training

The Chartered Institute of Management Accountants (CIMA) provides training at three levels: Foundation, Intermediate and Final level. Foundation level training requires three GCSEs (A-C)/S grades (1-3) including English and maths, plus two A levels/H grades or equivalent. Exemptions from some levels are available to holders of certain qualifications such as a recognised degree in business studies, business administration or accountancy. A list of entry qualifications and exemptions is available from CIMA. For full CIMA membership, students must complete all three levels and have at least three years relevant practical experience. Courses are available part-time or via distance learning.

The Institute of Financial Accountants (IFA) training is also at three levels: IFA training is also at three levels: Pre-Professional Level, Associate Membership and Fellow Membership. It is possible to begin studying at Pre-Professional Level before finding employment in the accountancy sector, but eligibility for associate level examinations requires five years'' experience at senior accountancy level. Courses are available part-time or via distance learning.

Foundation and Advanced Modern Apprenticeships (MAPPs) may be available for people aged 16-24.
For details see: MAPPs (England); Skillseekers MAPPs (Scotland); National Traineeships MAPPs (Wales); and MAPPs (Northern Ireland).

Opportunities

Openings for accountants in industry and commerce vary according to the size of the city, and tend to be with large organisations. The demand for accountants in all sectors is growing and work is available in all parts of the UK. There are self-employment opportunities for qualified accountants.

Once qualified, it is possible to move between private practice, industry and commerce and the private sector to gain experience and to help career prospects. Those working for a large organisation may be offered transfers within the company to advance their careers. There are many openings for accountants in senior management positions.

Annual Income

Figures are intended as a guideline only.

A graduate commencing training would earn in the region of £17,000 to £24,000 a year.
A newly qualified accountant would earn between £24,000 and £30,000.
A qualified accountant in a senior position could earn in excess of £100,000.

Further information

Association of Chartered Certified Accountants
64 Finnieston Square
Glasgow
G3 8DT
Tel: 0141 582 2000
www.acca.co.uk

The Chartered Institute of Public Finance and Accountancy
3 Robert Street
London
WC2N 6RL
Tel: 020 7407 9010
www.cipfa.org.uk

The Chartered Institute of Management Accountants
26 Chapter Street
London
SW1P 4NP
Tel: 020 8849 2251
www.cimaglobal.com

The Institute of Chartered Accountants in England and Wales
www.icaew.co.uk

Association of International Accountants
South Bank Building
Kingsway
Team Valley
Newcastle upon Tyne
NE11 0JS
Tel: 0191 482 4409
www.aia.org.uk

The Institute of Chartered Accountants of Scotland
CA House
21 Haymarket Yards
Edinburgh
EH12 5BH
Tel: 0131 347 0161
www.icas.org.uk

The Institute of Chartered Accountants in Ireland
11 Donegall Square South
Belfast
BT1 5JE
Tel: 028 9032 1600
www.icai.ie

Consultative Committee of Accountancy Bodies (CCAB)
www.ccab.org.uk

The accountancy profession carries a wide and varied selection of different job roles. Here are some examples of related job positions in the accountancy sector:

• Analyst
• Auditor
• Company Secretary
• Cost Accountant
• Director
• Finance Manager
• Financial Controller
• Forensic Accountant
• Interim Manager
• Life Accountant
• Management Accountant
• Practice Manager
• Practice Partner
• Project Accountant
• Syndicate Accountant
• Systems Accountant
• Tax Accountant
• Trust Accountant
• Accounts Admin
• Assistant Accountant
• Credit Controller
• Graduate Trainee
• Ledger Clerk
• Legal Cashier
• Part Qualified
• Accounts Payroller
• Practice Accountant.


Other Useful Commerce Accountant Work Information

We have a section available at this site on Commerce Accountant job interview tips that you may find of interest should you wish to brush up your skills in this area and we also have number of career articles that may also be of use to you from within our guides and documents section.

Locations where we feature Jobs include:-
Aberdeen, Berkshire, Aberdeen, Bath, Bedfordshire, Berkshire, Birmingham, Bradford, Bristol, Cambridgeshire, Cardiff, Central London, Cheltenham, Cornwall, Coventry, Derby, Devon, Docklands, Dorset, Dundee, Durham, East Midlands, East Sussex, Edinburgh, Essex, Glasgow, Gloucester, Hampshire, Hertfordshire, Kent, Lancashire, Leeds, Leicester, Leicestershire, Lincolnshire, Liverpool, London, Manchester, Middlesbrough, Midlands and in various parts of the West Midlands

Details of other Commerce Accountant Jobs can also be found in other UK wide areas including:-
Milton Keynes, Newcastle, Newcastle Upon Tyne, Norfolk, North London, North Midlands, Northampton, Northamptonshire, Northern Ireland, Northumberland, Norwich, Nottingham, Nottinghamshire, Oxford, Oxfordshire, Plymouth, Salisbury, Scotland, Sheffield, Shropshire, Somerset, South East, South London, South Midlands, Southampton, Staffordshire Surrey, Swansea, Swindon, Telford, Wales, Warwickshire, West End, West London, West Midlands, Worcestershire, York and throughout Yorkshire.

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