More people than ever before are qualifying to be accountants, many while working or studying full-time. But learning about accounting can be useful for anyone involved with financial management – whether for a large corporation, NGO / charity, or small business. If you are studying for undergraduate or professional accountancy exams, or for professional qualifications such as ACCA, CIMA or MBA courses, our accounting tutors can help you understand and apply the methods and principles of financial planning, including how transactions are recorded and final accounts are produced.
Keeping track of financial information is a vital part of all of our lives; it’s important on many different levels. We need to make sure we are operating legally both by paying the correct taxes according to our income and assets and by paying off the debts we owe. Of course, we also need to make sure we have enough funds to survive. Beyond this, most people will also want to make sure they are making a profit and investigate the best ways to do so.
Businesses and certain individuals employ accountants to help them make these financial decisions. Accountants study all the raw financial information available to them and then use this information to evaluate the company or individual’s current assets. This involves preparing financial statements, calculating taxes and costs, making reports of past transactions and projections for the future. Accounting famously has several branches with different uses. Managerial accountants produce frequent reports for the benefit of a company or individual, whereas financial accountants produce external reports to inform customers or others. These kinds of accountants will also frequently employ cost accounting and credit accounting to ensure efficiency. Essentially, accountants are a necessary and useful tool for businesses and individuals to plan for financial growth in a legal way.
What will you study?
To excel as an accountant, you will have a solid understanding of business, relevant law, economics and numbers themselves. Naturally then, you will study a range of modules. Some, normally first year modules, will be compulsory and some will be optional. The latter will determine which branch of accounting you choose to specialise in. Some examples of accounting modules are:
It is worth noting that many undergraduate courses will also offer a placement year, giving you a chance to gain valuable industry skills and often to secure a graduate job. Most UK higher education institutions offer undergraduate accounting degrees. You don’t need any specific A-levels to be accepted onto these courses, but mathematics and economics are strongly favoured.
What can you do with an accounting degree?
Accounting is often referred to as a “job for life”: accountants rarely struggle to find work and, as such, it is considered one of the safest degrees to obtain. An accounting degree is vocational, meaning you will most likely hold accountant or auditor job titles after your graduate. Nonetheless, accounting degrees will teach you a host of transferable skills that can help you land roles such as economist, tax advisor or insurance broker.
Accountancy courses can open up a rewarding professional career in accountancy and our tutors can guide you through the different stages of professional training. We also offer private tuition for younger students with a budding interest in accountancy – including Accounting GCSE, AS and A-Level. We also serve professionals with ACCA and ACA teachers and assistance with the ACCA-X platform. Many of our tutors have direct experience of the Accounting sector and all are fully-qualified.
Accountancy is the foundation of business and financial planning. The subject brings together finance, maths, business and economics assessing markets and managing the critical aspects on a business and future planning. Many business skills are gained on accountancy courses, and often involves sales and spending analysis. The careers available following qualification may involve auditing, tax planning, or management to name a few.
If you’d like arrange private accounting lessons for school, university or professional exams in Accountancy or accounting tutors and have any questions about our tuition services please call us on Tel: +44 (0) 207 665 6606 or you can send us an email via our contact form.
https://www.icaew.com/learning-and-development/aca ACA Qualification
https://www.accaglobal.com/uk/en.html ACCA Professional Accountancy Qualifications
https://bafa.ac.uk/ – British Accounting& Finance Association
https://www.aiaworldwide.com/ -The Association of International Accountants
https://www.ifa.org.uk/ – Institute of Financial Accountants
https://www.cipfa.org/ -The Chartered Institute of Public Finance and Accountancy
https://aaahq.org/ – The American Accountancy Association
http://www.eaa-online.org/r/eaa_home – The European Accounting Association
https://www.icaew.com/ – Institute of Chartered Accountants in England and Wales
https://accountingfinance.blogs.bristol.ac.uk/ – University of Bristol Accounting and Finance Blog
https://www.accountex.co.uk/insight/ – Accounting Insight Blog
https://www.journalofaccountancy.com/ – The Journal of Accountancy
https://www.frontiersin.org/about/contact -Frontiers in AccountingJournal
https://www.tax.org.uk/students-and-qualifications/cta-qualification Chartered Tax Advisor and the CTA qualification
https://bafa.ac.uk British Accounting and Finance Association
https://qualifications.pearson.com/en/qualifications/edexcel-international-gcses-and-edexcel-certificates/international-gcse-accounting-2017.html Edexcel Exams and IGCSE specification