Career outlook for accountant - private practice
UK Salary Ranges
Currently employed in Scotland
What's it 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.
- 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.
UK employment status
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- Verbal communication
- Working with technology
- Problem solving
- Working with numbers
- Attention to detail
- Developing a plan
- Time management
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