A growing number of graduates are beginning their accountancy careers in banks and businesses. In this article, we look at the role of accountancy in finance and industry.
Where do accountants fit in?
Accountants are needed in all areas of industry to manage budgets, monitor the economic health of the company and make important financial decisions. Consequently, accountants often occupy the most senior positions in companies, all the way to CFO or chief executive.
The manufacturing, retail and telecoms industries are all significant areas of entry for graduates wishing to pursue a career in accountancy. Specific roles within industry and commerce include Management Accountant and Financial Controller.
Typically accountants working within financial services work in middle office banking roles, such as working in control, monitoring trade activity.
Financial services can include global banks with departments that offer accountancy training: for example Goldman Sachs, HSBC and Macquarie all offer ACA training.
Routes into accountancy in industry
A common route into commerce and industry is for accountants to make the move once they have completed their three year training contracts.
It is also possible to receive accountancy training in industry, particularly with large businesses such as Centrica or McDonalds, both of whom offer ACA training contracts.
Why work in commerce and industry?
Working in industry allows you to make strategic decisions and work towards the growth of a company, which offers a great deal of personal satisfaction.
Many choose to work in commerce within an industry that they are particularly passionate about, such as media, or IT. Take a look at some of our profiles of senior accountants working in industry for Real Wines Ltd, Manchester United and Nintendo to get inspired about some of the exciting potential areas of work.
60% of the FTSE top 100 companies have a chartered accountant as their CEO or CFO, so the sky really is the limit in industry for your accountancy ambitions.