Accountant - Private practice
Provide services to help people and businesses manage their money effectively.
About the job
What it's like
You would help people and businesses manage their money effectively.
You’d provide accountancy services for your clients. These could be small businesses, large companies or wealthy individuals.
Your duties would include handling tax, carrying out audits and advising clients on how to improve their business finances.
You would:
Prepare financial statements, business plans and budget reports
Produce annual and monthly accounts
Carry out independent audits of company accounts
Manage clients’ spending, costs, credit, payroll and investments
File tax returns and provide tax advice
Forecast future profits and financial performance
Help businesses that may be in financial difficulties
Deal with insolvencies
Advise companies on improving their financial systems and profitability
Find and prevent fraud (forensic accounting)
If you work freelance or for a small accountancy practice you might do all of these tasks. In a larger practice you might specialise in one area, such as tax or insolvency.
You would need to be able to explain technical financial information clearly to non-accountants and to work with people at all levels.
Understanding the business environment would be important. You would also have to be discreet, as you’d be dealing with confidential information.
Hours
In a full-time job you would normally work standard office hours, Monday to Friday. You may work longer hours at busy times, such as at the end of the financial year. Part-time hours and temporary contract work may be available.
Environment
You would be based at an office, but would spend much of your time visiting clients.
Travel
You would spend much of your time visiting clients. If you worked for a large accountancy practice, this could mean travelling all over the UK.
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Related industries
Many jobs can be done in lots of different industries. We've highlighted the ones we think are most important for this job.
Financial and professional services
Top skills
Skills are things you're good at. Whether you know what yours are or not, everyone has them!
It's useful to learn which ones are important in a job so you know the areas you need to brush up on. It can also help you work out if you're suited to a career.
Meta skills
Here are some of the meta skills you'll need to do this job.
- understanding
- analysing
- time management
- developing a plan
- attention to detail
- observation
- working with numbers
- problem solving
- working with technology
- verbal communication
Your skills are important
Our unique skillsets are what make us stand out from the crowd. Learn about each skill in depth and discover what employers look for in your applications and interviews.
Getting in
Explore each section to find more information about getting into this career.
Colleges and universities will list subjects you'll need for entry to a course. Some useful subjects include:
Accounting
Business
Economics
Maths (Mathematics)
Skills for Work: Financial Services
Foundation Apprenticeship: Financial Services
Foundation Apprenticeship: Accountancy
Applications of Mathematics
You can get a head start in this career by doing a Foundation Apprenticeship in S5 and S6.
You'll get an SCQF level 6 qualification which is the same level as a Higher. You'll also learn new skills and gain valuable experience in a work environment.
Discover what's on offer at your school on Apprenticeships.scot.
Most entrants have a degree (SCQF level 9/10).
To enter an accounting degree requires a minimum of four Highers at BBBC or relevant HNC/D or work-based qualifications. With a degree in accountancy, economics, mathematics, business, finance or law you can get exemptions from some parts of the professional qualifications.
You may also enter through a work-based qualifications such as a Modern Apprenticeship in Accountancy (SCQF level 5/6/8).
Some companies run accountancy trainee programmes; entry requires qualifications at SCQF levels 4 to 6 to include at least three Highers.
Some accountants start their careers as Accounting technicians.
Once in the job you will need to gain professional qualifications from a recognised professional body.
If you want to work as a registered company auditor, you must hold an audit qualification from a Recognised Qualifying Body (RQB).
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