Occupation:

Accounts or Finance Assistant

Role Profile:

An Accounts or finance assistant is an integral part of the team responsible for maintaining an efficient and accurate finance function within a business. The Accounts or finance assistant is responsible for assisting the team of accountants with junior accounting duties.

These can vary massively depending on the team structure and size of business. An Accounts or finance assistant’s work could include basic bookkeeping activities, working with sales and purchase ledgers, running calculations to ensure that records and payments are correct, recording of cash and data entry. Accounts or finance assistant can work in almost any sector.

Potential employers include corporate businesses, sole traders, partnerships, Public sector, not-for-profit organisations and educational institutions. Accounts or finance assistant may work in-house for an organisation or they might work for an accountancy firm, bookkeeping practice, Shared Service provider, self-employed or on behalf of several different clients.

Entry Requirements:

Individual employers will determine their own entry requirements.

• Aware of elements of commercial law that may have an impact when working in accountancy, such as contracts, data protection or Anti Money Laundering
• Can explain the importance of upholding relevant codes of conduct
• Can explain different legal entities and organisational structures.
• Aware of the impact of technology on business and its accounting and finance functions.

Understanding Your Organisation

• Understand own role within the context of your organisation
• Understand transactional processes of accounting and their use within a finance function
• Understand what makes a business or organisation successful, through either buying or selling products or supplying services to a market.

Accounting Systems and Processes

• Understand how accounting systems and processes allow a business to keep track of all types of financial transactions
• Know a range of routine accounts reports, reports and their use within the finance function
• Understand the basics of internal control within own organisation.

Basic Accounting

• Aware of basic accountancy concepts and double-entry bookkeeping
• Understands bookkeeping controls
• Understand the cost recording system within an organisation
• Develop an understanding of the differences between Financial and Management Accounting.

Ethical Standards

• Understands corporate social responsibility (CSR), ethics and sustainability within organisations
• Understands the importance of the need to keep up-to-date with relevant policies, procedures, regulatory or system changes.

Attention to Detail

• The ability to examine data to identify issues
• The ability to reconcile data to minimise the chance of errors
• The ability to plan and review work
• Recognise and rectifies errors.

Communication

• Deals effectively with a range of stakeholders using appropriate communication methods to deliver accurate and timely results
• Avoids jargon and uses the correct technical terms where appropriate
• Demonstrates good listening and speaking skills to be able to communicate effectively in the right manner.

User Systems and Processes

• Utilises relevant office and accounting software packages to input and manage data accurately
• Ability to maintain the security of accounting information using passwords and other appropriate security measures.

Personal Effectiveness

• Ability to organise self, prioritise workload and activity to meet deadlines.
• Actively identifies team workload problems and offers to support peers where appropriate
• Ability to understand issues beyond own remit

Behaviour – What Is Required for Occupational Competence?

Team Work

• Supports colleagues and collaborates to achieve results
• Builds working relationships within own team and other parts of the organisation
• Be aware of their impact on others

Personal Development

• Successfully implements changes that are required, as directed.
• Displays an ongoing commitment to learning and self-improvement.
• Seeks feedback and acts on it to improve their performance.

Professionalism

• Looks to behave professionally by adhering to the organisational code of conduct
• Has a ‘right first time’ approach.
• Shows integrity in their approach
• Demonstrates personal pride in the job through appropriate dress and positive and confident language.

Customer Focus

• Builds and maintains customer satisfaction with the products and services offered by the organisation in line with company policy, regulation and practice.
• Delivers excellent service, identifying and meeting or exceeding customer expectations.

Duration

Typically, 12 to 14 months.

Qualifications

Apprentices will be required to take one of the professional qualifications listed below, as chosen by the employer to be most relevant to the job role:

• AAT Foundation Certificate in Accounting (Level 2)
• ACCA Certificate in Financial and Management Accounting (Level 2)
• IAB Level 2 Certificate in Bookkeeping
• ICB Level 2 Certificate in Bookkeeping

Link to Professional Registration

On completion, the apprentice will be able to apply for the appropriate level of professional membership aligned with this apprenticeship, dependent on the qualification chosen. Professional body memberships that are relevant to the options for this apprenticeship are:

• IAB – Associate Level Membership
• ICB – Associate Level Membership

Neither AAT nor ACCA offers professional registration upon completion of this apprenticeship.

English and Mathematics

Apprentices without Level 1 English and maths will need to achieve this level and have taken the test for Level 2 prior to taking their endpoint assessment. For those with an education, health and care plan or a legacy statement, the apprenticeships’ English and maths minimum requirement is Entry Level 3. British Sign Language qualifications are an alternative to English qualifications for whom this is their primary language

Level

2

Review Date

Three years from the date of the standard or when significant change is required.

Occupation:

Accounts or Finance Assistant

Typical Job Titles:

• Assistant Accountant
• Trainee Accounting Technician
• Accounts Clerk
• Cashier Finance Assistant
• Purchase Ledger Clerk
• Sales Ledger Clerk

Duration:

Typically, 15 to 18 Months

Level:

3

Role Profile:

An Assistant Accountant provides support to internal and external customers and will work predominately either as an assistant accountant within practice or within the finance function of an organisation.

Part of their role will involve assisting in the day to day financial activities such as data entry to month end management accounts and/or year-end financial statements.

Additionally, the Assistant Accountant may find themselves involved in regulatory financial requirements such as the completion of VAT returns or assisting in the preparation of tax computations.

Entry Requirements:

Individual employers set the selection criteria, but this is likely to include 5 GCSEs, including Maths and English, although some employers will accept other relevant qualifications and experience, including a relevant Level 2 qualification.

Apprentices without English or Maths at Level 2 must achieve this prior to taking the endpoint assessment.

• Understands the transactional processes and support provided by accountancy firms or the accounting function within an organisation.
• Understands their organisations business strategy including customer and supplier needs, in order to produce relevant and compliant financial information.
• Is aware of how their role fits in with the wider organisation and sector they are working in.

IT Systems and Processes

• Understands how to enter accounting transactions, perform a reconciliation, correct errors and produce a range of reports using a computerised accounting system.
• Understands the systems and process of the organisation, within the responsibility of the position such as Sales, Purchase and Payroll.
• Understands the use of all relevant office and accounting packages used within their organisation, relevant to their job role.

Ethical Standards

• Understands the relevant Ethical Standards to protect their own and their organisation’s professional reputation and integrity.
• Understands the importance of upholding relevant codes of conduct.

Financial Accounting and Reporting

• Understands the basic elements of double-entry bookkeeping and accounting standards required to process financial documents and report financial information to users of accounts.
• Understands the current financial standards for basic accounts preparation, in order to be able to make the necessary end-of-year adjustments.
• Understands what is required to draft final accounts.
• Understands how to account for the purchase and disposal of non-current assets.
• Understands the basic tax principles to apply current regulations to calculate VAT and submit a VAT return.

Management Accounting

• Understands how to recognise and use different accounting approaches and is able to gather, analyse and report information about income and expenditure to support decision-making, planning and control.

Analysis

• Effectively records and analyses financial data at the appropriate level using the organisation’s standard tools and processes.
• Communicates to all stakeholders to aid decision-making to add value to the organisation, within the responsibility of the position.

Communication

• Works both independently and as part of a team within the organisation’s standards; competently demonstrates an ability to communicate both in writing and orally at all levels, using a range of tools and demonstrating strong interpersonal skills and cultural awareness when dealing with internal and external customers.
• Demonstrates the ability to communicate financial information in a way that non-finance staff can interpret and understand.

Produces Quality and Accurate Information

• Consistently delivers high quality, ‘right first time’ financial and performance data in a timely fashion in line with the organisation’s requirements, to aid decision-making and planning.

User Systems and Processes

• Demonstrates the ability to identify the appropriate systems and processes to work productively in order to complete required tasks.
• Demonstrates competent use of office and accounting packages.
• Able to maintain the security of accounting information using passwords and backup routines.

Problem Solving

• Applies techniques to both common and non-routine problems, analysing where required and selecting the appropriate tools and techniques to produce solutions.
• Escalates or seeks guidance and support where appropriate.

Behaviour – What Is Required for Occupational Competence?

Embracing Change

• Accepts changing priorities and working requirements readily and has the flexibility to maintain high standards in a changing environment

Adding Value

• Identifies opportunities to actively engage in the wider business when appropriate.
• Provides information that positively contributes to influencing business decisions whilst continually striving to improve own working processes and those of the organisation

Ethics and Integrity

• Applies a transparent and objective manner in all actions and interactions to ensure thatthey meet the ethical requirements of the profession.

Personal Accountability

• Takes the initiative for own personal development.
• Proactively takes responsibility for completing tasks and meeting expectations.
• Consistently prioritises in order to achieve timely outcomes.

Productivity

• Organises work effectively and achieves required results within deadlines.
• Performs professionally in pressurised situations and escalates appropriately when necessary.

Team Working and Collaboration

• Consistently supports colleagues & collaborates to achieve results.
• Aware of their role within the team & their impact on others.

Progression

As well as ensuring full competency as an Assistant Accountant, this standard provides the foundation for progression into a number of career paths in the Accounting sector including Audit Trainee, Corporate Recovery Analyst, Credit Controller, or Tax Accountant.

Review Date

The apprenticeship will be reviewed after a maximum of 3 years.

Occupation:

Occupation: Individuals in the role of a Professional accounting or tax technician will have responsibility for creating, and/or verifying and reviewing, accurate and timely financial information within the organisation in which they are employed or on behalf of another organisation. This will be performed in order to meet relevant ethical, professional and legal standards, and will utilise the individual’s knowledge of the business systems and processes, as well as standard accounting and tax practices. This role may exist in an accounting practice, a professional services company, HMRC, or the accounting function of a business or other organisation.

Examples of roles as a Professional accounting or tax technician include, but are not limited to, Assistant auditor, Assistant management accountant, Assistant financial accountant, Accounts payable and expenses supervisor, Commercial analyst, Payroll manager, Senior bookkeeper, Senior financial officer, Tax investigations officer, Personal tax assistant and Business tax assistant.

Technical Knowledge

• Knowledge and understanding of the core elements of double-entry bookkeeping and accounting standards enable accountants to create and report financial information to the users of accounts.
• A Professional accounting technician will understand and/or validate the accounting standards for basic accounts preparation and/or the drafting of financial statements.
• Depending on their role they will also have specialist knowledge in other aspects of accounting, for example, management accounting and tax accounting.

• A Professional tax technician will be required to have knowledge and understanding of the core elements of personal and business taxation and accounting principles.
• They will be required to prepare tax calculations, prepare government forms, understand and comply with filing deadlines, and document client paperwork.
• Depending on their role, they will also have specialist knowledge in other areas of taxation, for example, business compliance, VAT, Inheritance tax, trusts and estates and corporate tax.

Business Awareness

• Financial information is an outcome of an organisation’s activities in the industries and environments in which it operates.
• In its simplest form, financial information reflects the transactions arising from the purchase and sale of products and services.
• A Professional accounting or tax technician will understand the industries and environments in which an organisation operates, including customer and supplier needs, in order to create and/or validate and/or report financial information.

• Understand how accounting systems and processes allow a business to keep track of all types of financial transactions
• Know a range of routine accounts reports, reports and their use within the finance function.
• Understand the basics of internal control within own organisation.

Basic Accounting

• Aware of basic accountancy concepts and double-entry bookkeeping
• Understands bookkeeping controls
• Understand the cost recording system within an organisation
• Develop an understanding of the differences between Financial and Management Accounting.

Ethical Standards

• Understands corporate social responsibility (CSR), ethics and sustainability within organisations
• Understands the importance of the need to keep up-to-date with relevant policies, procedures, regulatory or system changes.

Regulation and Compliance

• Accounting and tax are governed by a series of standards and regulations which must be applied where relevant.
• A Professional accounting or tax technician will be able to understand and apply professional standards and legal regulations to an organisation’s financial information, and to comply with the fundamental principles of integrity, objectivity, professional competence and due care and confidentiality.

Systems and Processes

• Systems and Processes - Financial information is created, verified and reported via a combination of systems and processes, such as accounting or tax systems, internal control systems and IT systems. An understanding of these systems and processes is fundamental to an accountant’s ability to perform their role.
• A professional accounting or tax technician will be able to understand and evaluate an organisation’s systems and processes and make recommendations for improvement, as appropriate.
• Depending on their role, they may also have a basic understanding of external and internal audit’s function in giving assurance over these systems and processes.

Analysis

• Create and interpret information and show how that information can be used most effectively to add value to the organisation.

Communication

• Effectively communicate relevant information across the organisation and to appropriate stakeholders in both written and verbal formats.

Leadership

• Proactively manage their own development and is committed to the job and their profession.

Planning and Prioritisation

• Work to tight deadlines and respond to changing priorities.
• Effectively plan and prioritise time and co-ordinate the input of others in order to meet both deadlines and changing priorities.

Produces Quality and Accurate Information

• Apply accounting, tax knowledge to consistently deliver high quality, accurate data and information in a timely fashion.

Team Working and Collaboration

• Work effectively in a team and with others, maintaining effective, professional working relationships both internally and externally across organisations.

User Systems and Processes

• Understand the systems and processes of the organisation sufficiently, as applicable to the role.
• Proficient in the IT systems applicable to the role.

The above skills will be acquired and demonstrated, through a process of continuous self-improvement, in a changing and sometimes pressurised environment

Behaviour – What Is Required for Occupational Competence?

Adaptability

• Willing to both listen and learn and to accept changing priorities and working requirements and has the flexibility to maintain high standards in a changing environment.

Adding Value

• Actively engage in the wider business, as appropriate, and look to provide information that positively contributes to influencing business decisions.
• Continually strive to improve own working processes and those of the organisation.

Ethics and Integrity

• Successfully implements changes that are required, as directed.
• Displays an ongoing commitment to learning and self-improvement.
• Seeks feedback and acts on it to improve their performance.

Professionalism

• Honest and principled in all of their actions and interactions.
• They will respect others and meet the ethical requirements of their profession.

Professional Scepticism

• Demonstrates an attitude that includes a questioning mind, being alert to conditions which may indicate possible misstatement of financial information due to error or fraud.

The above behaviours will be developed and exhibited while adhering to high standards of professionalism and quality.

Typical Job Titles

• Assistant Auditor
• Assistant Management Accountant
• Assistant Financial Accountant
• Accounts Payable And Expenses Supervisor
• Bookkeeper
• Commercial Analyst
• Payroll Manager
• Senior Bookkeeper
• Senior Financial Officer
• Tax Investigations Officer
• Personal Tax Assistant
• Business Tax Assistant

Duration

It is anticipated that candidates will typically complete the apprenticeship within 18 to 24 months.

Entry Requirements

Individual employers will identify entry requirements in terms of previous qualifications, training or other criteria. Most candidates will have Level 2 maths and English (equivalent to GCSE grade C or above), ideally as part of 5 GCSE A-C grades or other comparable qualifications.

Apprentices without English or Maths at Level 2 must achieve this prior to the completion of the apprenticeship.

Level

Level 4

Link to Professional Registration and Progression

The Professional accounting or tax technician standard allows student registration with a number of UK professional bodies in this sector. If a candidate seeks to become a member of a professional body there may be other requirements specific to the relevant professional body, which may be taken as part of, or alongside, the Apprenticeship at the employer’s and candidate’s discretion.

Completion of the professional accounting or tax technician apprenticeship may lead to the candidate receiving credits towards the completion of the Professional accountant or tax apprenticeship or chartered Accountancy or taxation qualifications provided by the relevant professional bodies. Completion of the professional accounting or tax technician apprenticeship may also result in credits being awarded towards relevant undergraduate degree programmes.

Review Date

The standard will be reviewed after a maximum of 3 years to ensure it is updated to reflect employer demand for changes in the syllabus.