With a range of industries and sectors to work in, a career in chartered accountancy offers exciting and limitless opportunities, with a range of industries and sectors to work in. Whether you want to influence the strategy, direction and profitability of an organisation, or make a difference by ensuring your employer has the funds to deliver its charitable work, find out where a career in accountancy could take you.
Business and financial services
Whether you choose to work for a small business or a large global organisation, an increasing number of graduates are beginning their accountancy careers in banks and businesses. Working in this sector typically means you gain experience of the full process of financial management and reporting.
If you work in financial services you may find yourself in middle office banking roles such as monitoring trade activity. You will work in a highly competitive environment, with rapidly-changing risks and constant demand for innovation. You will gain an understanding of IT, marketing, sales and operations.
As your career progresses in financial services, you will be involved in making strategic decisions to drive the business forward, creating plans and leading change for business success.
Why work in business and financial services?
Working in business and financial services allows you to work in commerce within an industry that you are passionate about, such as media or technology. A career in this area allows you to make strategic decisions and work towards the growth of the company, which can offer a great deal of
Routes into accountancy in industry
A common route is by making the move once you have completed your training agreement. You could find yourself working for major commercial companies such as those in manufacturing, retail and telecoms industries. You may find that many of these companies offer ACA training themselves.
Financial service firms may include global banks such as Goldman Sachs, HSBC and Macquarie, some of which will offer accountancy training.
A public practice firm’s accountants deal with accounting and financial needs of a client whilst remaining independent from their staff. Accountancy practices vary in size, type and location as well as what services they offer, including:
- Audit and assurance
- Business advisory
- Business recovery and insolvency
- Corporate finance and risk management
- Forensic accounting
- Tax advice
Why work in public practice?
While public practice can be challenging, it can also present trainees with a wide variety of experiences working on multiple industries and providing a lot of flexibility. Public practice is often seen as a sector that can offer job security, as other sectors can be hit hard by recession, and there is also the chance to specialise in areas such as audit or consultancy in this area of accountancy.
Routes into public practice
There is a lot of variety for graduates entering this area of accountancy.
Large international firms sit within public practice, and include the “Big Four” accountancy firms – PwC, EY, KPMG and Deloitte. On the other end of the scale there are also smaller accountancy firms, known as small and medium enterprises (SME’s). They both have their benefits and their drawbacks, so be sure to do your research before you decide which firm is right for you.
Specific entry roles into public practice include Audit Trainee, Assurance Trainee and Financial Analyst.
Commerce and Industry
A growing number of graduates are beginning their accountancy careers in banks and businesses. Whether you work in a large global organisation or a small business, working in this sector means that you will experience the full process of financial management and reporting.
Typically, accountants working within financial services work in middle office banking roles such as monitoring trade activity but you will also develop an understanding of IT, marketing, sales and operations.
You will be working in a highly competitive environment at times, with rapidly-changing risks and constant demand for innovation. As your career progresses, you will become involved in making strategic decisions to drive the business forward, creating plans and leading change for business success.
Why work in commerce and industry?
Working in business and financial services allows you to make strategic decisions and work towards the growth of a company, which can offer 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 technology.
Routes into commerce and industry
A common route into commerce and industry is to make the move once they have completed their training agreements. This can include major commercial companies, such as those in manufacturing, retail and telecoms industries, though many of these companies also offer ACA training through themselves. Financial services include global banks such as Goldman Sachs, HSBC and Macquarie, some of which will offer accountancy training.
Accountants are needed in all areas of industry to manage budgets, monitor the economic health of the company and to make important strategic decisions. Accountants will often occupy the most senior positions in companies, all the way to chief executive.
Charity and not-for-profit
If you would like your skills to make a difference, then you may be looking at the charity and not-for-profit sector.
There are a range of opportunities for accountants in this sector, including working in a management accounting role, managing budgets and financial systems or liaising with budget holders and trustees to manage the needs of the organisation.
You could also work for an auditing firm that specialises in the charity sector, delivering high-quality audit work, systems reviews and consultancies into the needs for charity clients.
Why work in charity and not-for-profit?
There are many reasons why working in a charity or not-for-profit organisation can make for a rewarding and satisfying career.
This area of accountancy generally offers very gratifying work – knowing that you are helping an organisation that exists to make a positive difference in the world. This area of accountancy is also known to have a healthier work/life balance than other sectors.
A Chartered Accountant in the public sector manage, distribute and invest finances in public services such as education, housing, health, emergency services and local authority services. If you work in the public sector, you will be constantly challenged to reduce expenditure and improve efficiency to ensure value for money.
Working in this sector means that you will be responsible for making sure that public money is being spent properly for the benefit of the nation, and you will be in charge of holding government departments to account by monitoring spending.
You will also, of course, be helping local communities and changing people’s lives while leading a successful and satisfying career.
Why work in the public sector?
There are a lot of benefits to working in the public sector, and many choose this route because it enables them to give something back to society.
If you work in the public sector, you will quickly develop commercial and decision-making skills as you allocate and monitor resources which will help you see that they are effectively and efficiently employed to give value for money.
Another deciding factor for those wanting to work in the public sector are the number of benefits that come with it, including a good pension scheme and longer holidays.