Accounting in the UK
The accounting profession is worth around £59 billion to the UK economy, and is widely regarded as an essential ‘language of business’. Whether as part of an in-house team or through an accountancy practice, finance professionals come with different specialisms that ensure that the right amount of money is in the right place at the right time.
Not all accountancy roles require qualifications, though there are plenty of chartered membership groups ready to offer out highly sought after letters – AAT, ACCA, ACA, CIMA, ICAEW, CIPFA to name just a few. Many of the vocational qualifications offered by these bodies are equivalent to degree classifications, and in some cases can be worth more!
Whether it’s a management accountant, credit controller, financial analyst or a bookkeeper you need, Select work with a wide range of accountancy and finance professionals to ensure that your staffing needs are filled with the right people. Get in touch with us today and find out how we could help your finance team, if you are considering starting a career in Finance you can read our ultimate guide to kick-starting your career in the sector.
Accounting and finance jobs
Often called the Language of Business, Finance professionals are responsible for managing a business’ money. The business functions of a finance department typically include strategising, organising, auditing, accounting for and controlling its company’s finances. It is an integral function involved in communicating the information that owners, managers, and investors need to evaluate a company’s financial performance. To read more about the role of an Accountant, visit our article on working as an Accountant in the UK.
As such, large businesses have many different types of personnel in their finance team. Check out our guide if you would like tips on how to break into corporate finance.
Whilst there are lots of generalist services in this sector, Practice positions usually involve being technical experts in key areas such as Tax, VAT and Audit. Being a private client accountant in a practice can typically offer some of the most competitive remuneration schemes in the industry, as there are often lots of incentives to acquire and retain clients on behalf of your firm. Read our article to learn about the differences between industry and practice accounting, and what it means for you.
Management accountants take into account a wide range of financial data from across the business in order to provide the senior leadership teams with organisational strategy. This could be invoicing, sales forecasting, profit & loss, stock/inventory management and obligations such as risk or tax. Vist our page and explore more about the evolution of management accountancy within the UK.
AKA Purchase Ledger, Sales Ledger, Accounts Payable
Bookkeeping is a more generalist finance position that’s usually responsible for recording the financial transactions within the business. As a profession, bookkeeping is typically automated within larger businesses; plenty of small-medium enterprises still rely on them to help keep their affairs in order.
Credit controllers are responsible for collecting on outstanding invoices, making sure that customers and clients stay true to their word on payment terms and assessing the suitability of any new potential business relationship by determining how much credit a business can afford to extend without exposing themselves to excessive risk.
Keeping your staff happy is important, and so is getting them paid! Payrollers are responsible for getting pay cheques settled in due time, issuing payslips and dealing with any queries relating to pension, tax or other deductibles.
The insurance industry is a diverse and dynamic field that offers a wide range of career opportunities in underwriting, actuarial science, and brokerage. Professionals in these areas work to assess and manage risks, develop and price insurance products, and facilitate the purchase of insurance policies for individuals and businesses. Read more about the world of Insurance in our article on the role of an underwriter.
Financial analysts often handle the more technical aspects to the accountancy department – implementing and managing financial systems, management information, analysing statistics across the company and reporting on their findings. Financial Planners provide support for individuals and businesses reach their financial goals. Our article on the role of a Financial Planner has more information.
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Are you a client looking to hire top accountancy and finance staff, or a jobseeker looking to make a move? Send us an enquiry about what you are looking for, and one of our expert consultants will get back to you.