09-09-2007, 11:52 PM
ACCA | Practical Experience in a SME Practice
Article from ACCA website
Many ACCA students and members work for â or manage â small or medium-sized practices. These practices often offer the chance to develop an exciting accountancy career straight from school, as well as from university. And with support for study and practical experience requirements, these practices will want you to pass your exams and get qualified as soon as possible.
Claire Young joined South coast-based Carpenter Box in Worthing, UK, after completing her A-levels. âI always wanted to be an accountant,â says Young, who completed her finals in June 2007. âI looked for local firms that provided training, and saw the advert for Carpenter Box. I realised that the firm offered a brilliant study package so I applied, and havenât looked back.â
Peter Lovett, who joined 80-strong Carpenter Box in January 2007 as a trainee accountant, had always wanted to work in practice and after a series of temporary roles started looking for something more permanent. âI had heard that Carpenter Box was one of the best practices in the area, with a young and dynamic image,â says Lovett. âAt the interview they clearly took an interest in developing their students, and also seemed like a firm that could really help me to develop my skills, learn more about accountancy, and build a career with.â
Laura Parry, who passed her final exams in June 2007, joined KTS Owens Thomas in Cardiff, UK, after completing a business administration degree at Cardiff University in Wales. âI wanted to stay in Cardiff, and was really keen to work with KTS Owens Thomas because it had just come out of a merger and so I knew it would be a growing firm.â Parry had a feeling she would fit in with the company during her interview. âThe people seemed really friendly,â she says. Another new trainee to KTS Owens Thomas is Giles McNamara who joined in January 2007 as a trainee accountant. âI had graduated a few years previously and worked in London in a marketing role. I had a change of heart and realised that becoming a qualified accountant would open up a lot of doors for me.â A friend recommended KTS Owens Thomas to McNamara as a good place to work. âI was lucky enough to be taken on as one of two trainees in 2007, and so far Iâm really enjoying it,â he adds.
Ben Taylor joined Champion, a medium-sized practice in Manchester, UK, in 2004. âI was impressed by their website and the way that they seemed to offer more than a standard accountancy practice,â says Taylor. âWhen it came to the interview, it was friendly and informal, yet informative. The team all seemed very enthusiastic about what they did.â Clare Tattersall started at Champion as an administrator in April 2004 and then moved to audit support. In November 2006, Tattersall moved into the audit and accounts team as a junior and started studying for ACCA. âI originally choose Champion because it seemed a friendly company offering plenty of opportunities because they appeared to do more than you would expect of an average accountancy firm,â says Tattersall.
For many people working in small and medium-sized practices, the ethos of the firm is of great importance. âThere is a family feel to Carpenter Box,â says Young. âThe people are friendly, weâre all quite local, and weâre dealing with local clientsâ.
âThere is a good working atmosphere,â agrees Parry at KTS Owens Thomas. âWeâre good friends and the people really make it enjoyable. It is informal and relaxed with an open-door policy and no barriers in the office. I think itâs important to have this good atmosphere â I know I enjoy it.â
As Platinum level Approved Employers â trainee development, Carpenter Box, KTS Owens Thomas, and Champion have the highest levels of trainee support. In addition to the more usual assistance such as paying for exams and tuition, many medium-sized firms are creative with their trainee support. âCarpenter Box runs training sessions on different aspects of practical accounting so that we can learn more from colleagues,â explains Lovett. âFor someone who is enthusiastic about learning, like myself, this not only provides a great way to revise, but also increases your general knowledge.â
KTS Owens Thomas is keen to develop a supportive student culture. âThe recent ACCA members act as mentors, and give ACCA students support throughout the exams,â says Parry. âWe have regular meetings with our mentors, who also liaise with our tuition providers and ACCA to help with administration. It really makes it much easier for me, as it means that I only have to focus on taking the exams and doing my job.â In addition, KTS Owens Thomas organises weekend workshops run by the managing director and other directors. âWe gain some real-life experience which we can use in the exams. We know weâre really well supported â but having the MD give up his time really makes us feel valued,â admits Parry.
Support to gain practical experience isnât overlooked either. âCarpenter Box has recently developed a formalised plan of job rotation to ensure all trainees get the right training,â says Young. Parry explains that KTS Owens Thomas has recently reorganised and the accountants work in teams. âIt should help us broaden our horizons,â she says. âManagement understands how important it is for us to get our training and makes sure that any gaps can be filled in,â explains Parry. All KTS Owens Thomas trainees have their work reviewed by their line manager each month. âWe use a trainee review form that is similar in format to ACCAâs Student Training Record (STR). Our managers sign off certain competences, and it is really straightforward for us to carry that over to the STR forms,â says Parry. As a recent starter, Lovett has found that his training is just as important as passing the exams. âACCA is such a diverse qualification, but I have found that working at Carpenter Box complements this. Every six months, students have an appraisal to assess their development and ensure that training records are up to date. I think this is a great way to ensure that students receive the necessary training and experience.â
âChampion has always given ACCA students an excellent level of support,â says Taylor, who became an ACCA member in 2007, âand this is improving all the time. As well as tuition courses and time off work for studying, we also receive supported on-the-job training and monthly internal training to ensure that we are meeting our own development needs and the needs of our clients.â
Compared with bigger firms, trainees working at small and medium-sized practices often have the opportunity to develop higher#8209;level skills and client contact.
As a trainee accountant in the audit department at Carpenter Box, Lovett is learning how to audit small companies and not-for-profit organisations. âMost of the audit and accounts work is done on spreadsheets but I am also preparing files for clients. This helps me understand what to expect in client files and how they are set up. I have also done some work for the business services group, which has given me a basic understanding of the practicalities of accounting,â he explains.
Young too has gained good experience of different aspects of accountancy, which might not have been so easy working for a larger firm. âEven though I work for Carpenter Boxâs Business Services Group, I have been able to do both audit and tax, and this has given me a good insight for my future career development,â she says.
Parry, at KTS Owens Thomas, works closely with her director, which has led to her having quite a lot of responsibility. âI also get a good amount of client contact â my manager encourages this because it enables me to build relationships that will stand me in good stead as I progress further up the company,â she adds.
Although he has only recently entered the accountancy profession, McNamara can already see the benefits of working for a medium-sized firm. âAs trainees, we get exposure in a number of key areas â and once qualified this will help me to fulfil my goal of working in corporate finance,â he says.
Both Taylor and Tattersall believe that they have benefited from working for a medium#8209;sized firm such as Champion. âThe work is varied,â says Tattersall. âYou get to see a job through from start to finish, and you can see how the whole process of audit and accounts preparation works.â In addition, Taylor believes that he has been able to develop more personal relationships with clients and feels that he can really make an impact on their business. âAs a smaller organisation, we face many of the same challenges as our clients â so we have hands-on experience of what the client is going through in growing their business. The smaller size of the firm also means that you really get to know the team and thereâs always someone to help.â
With the support on offer, both in terms of training and exams, the firms are obviously keen to keep hold of their newly-qualified accountants. âCareer progression is good at Carpenter Box,â says Young. âAs well as specialist and technical areas, we also have the option of moving into management. Although the practice is not too big, Carpenter Box is large enough to have lots of different clients and a varied workload. So there are lots of options for me.â
âJust before the final exams, we meet with the KTS Owens Thomas managing director to discuss our career plans,â explains Parry. âThis gives us an opportunity to candidly discuss where we see ourselves in the future and then together we work out a means to achieve that goal. Whether you want to specialise in a particular area, become partner, move into business advisory services, or ultimately move on from the company, this is discussed. It gives you the structure you need to plan your future career.â
For Tattersall, who has already progressed from an administrator role to trainee accountant, the opportunities for career development are clear âAfter I qualify, I am confident that there will be chances for further progression at Champion.â
Approved employer programme
Visit www.accaglobal.com/students/training_careers for details of employers and training opportunities. In addition, this section also contains links to a host of career support resources.
ACCAâs Approved Employer programme â trainee development stream recognises the learning opportunities employers provide for trainees working towards either the CAT or ACCA Qualification.
There are three levels of approval â silver, gold, and platinum, and the scheme is accessible to all employers. The level of approval awarded reflects the support employers provide to trainees. It is also progressive, enabling organisations approved at silver or gold levels to work towards a higher level of approval.
The practising certificate development stream recognises employers who provide learning opportunities for trainees and members training towards the ACCA practising certificate or the ACCA practising certificate and audit qualification. If you want a specific list of ACCA Approved Employers â practising certificate development, e-mail students@accaglobal.com for further information.
Trainee development matrix (TDM) exemption
Trainees who work for an Approved Employer â trainee development stream at the gold or platinum level are exempt from completing the TDM when achieving their practical experience requirements (PER). Why not encourage your employer to apply to become an Approved Employer at this level? They can do this either online at www.accaglobal.com/employers or by contacting their local ACCA business relationship manager.
Visit www.accaglobal.com/employers/approved for more information about ACCA Approved Employers.
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Article from ACCA website
Many ACCA students and members work for â or manage â small or medium-sized practices. These practices often offer the chance to develop an exciting accountancy career straight from school, as well as from university. And with support for study and practical experience requirements, these practices will want you to pass your exams and get qualified as soon as possible.
Claire Young joined South coast-based Carpenter Box in Worthing, UK, after completing her A-levels. âI always wanted to be an accountant,â says Young, who completed her finals in June 2007. âI looked for local firms that provided training, and saw the advert for Carpenter Box. I realised that the firm offered a brilliant study package so I applied, and havenât looked back.â
Peter Lovett, who joined 80-strong Carpenter Box in January 2007 as a trainee accountant, had always wanted to work in practice and after a series of temporary roles started looking for something more permanent. âI had heard that Carpenter Box was one of the best practices in the area, with a young and dynamic image,â says Lovett. âAt the interview they clearly took an interest in developing their students, and also seemed like a firm that could really help me to develop my skills, learn more about accountancy, and build a career with.â
Laura Parry, who passed her final exams in June 2007, joined KTS Owens Thomas in Cardiff, UK, after completing a business administration degree at Cardiff University in Wales. âI wanted to stay in Cardiff, and was really keen to work with KTS Owens Thomas because it had just come out of a merger and so I knew it would be a growing firm.â Parry had a feeling she would fit in with the company during her interview. âThe people seemed really friendly,â she says. Another new trainee to KTS Owens Thomas is Giles McNamara who joined in January 2007 as a trainee accountant. âI had graduated a few years previously and worked in London in a marketing role. I had a change of heart and realised that becoming a qualified accountant would open up a lot of doors for me.â A friend recommended KTS Owens Thomas to McNamara as a good place to work. âI was lucky enough to be taken on as one of two trainees in 2007, and so far Iâm really enjoying it,â he adds.
Ben Taylor joined Champion, a medium-sized practice in Manchester, UK, in 2004. âI was impressed by their website and the way that they seemed to offer more than a standard accountancy practice,â says Taylor. âWhen it came to the interview, it was friendly and informal, yet informative. The team all seemed very enthusiastic about what they did.â Clare Tattersall started at Champion as an administrator in April 2004 and then moved to audit support. In November 2006, Tattersall moved into the audit and accounts team as a junior and started studying for ACCA. âI originally choose Champion because it seemed a friendly company offering plenty of opportunities because they appeared to do more than you would expect of an average accountancy firm,â says Tattersall.
For many people working in small and medium-sized practices, the ethos of the firm is of great importance. âThere is a family feel to Carpenter Box,â says Young. âThe people are friendly, weâre all quite local, and weâre dealing with local clientsâ.
âThere is a good working atmosphere,â agrees Parry at KTS Owens Thomas. âWeâre good friends and the people really make it enjoyable. It is informal and relaxed with an open-door policy and no barriers in the office. I think itâs important to have this good atmosphere â I know I enjoy it.â
As Platinum level Approved Employers â trainee development, Carpenter Box, KTS Owens Thomas, and Champion have the highest levels of trainee support. In addition to the more usual assistance such as paying for exams and tuition, many medium-sized firms are creative with their trainee support. âCarpenter Box runs training sessions on different aspects of practical accounting so that we can learn more from colleagues,â explains Lovett. âFor someone who is enthusiastic about learning, like myself, this not only provides a great way to revise, but also increases your general knowledge.â
KTS Owens Thomas is keen to develop a supportive student culture. âThe recent ACCA members act as mentors, and give ACCA students support throughout the exams,â says Parry. âWe have regular meetings with our mentors, who also liaise with our tuition providers and ACCA to help with administration. It really makes it much easier for me, as it means that I only have to focus on taking the exams and doing my job.â In addition, KTS Owens Thomas organises weekend workshops run by the managing director and other directors. âWe gain some real-life experience which we can use in the exams. We know weâre really well supported â but having the MD give up his time really makes us feel valued,â admits Parry.
Support to gain practical experience isnât overlooked either. âCarpenter Box has recently developed a formalised plan of job rotation to ensure all trainees get the right training,â says Young. Parry explains that KTS Owens Thomas has recently reorganised and the accountants work in teams. âIt should help us broaden our horizons,â she says. âManagement understands how important it is for us to get our training and makes sure that any gaps can be filled in,â explains Parry. All KTS Owens Thomas trainees have their work reviewed by their line manager each month. âWe use a trainee review form that is similar in format to ACCAâs Student Training Record (STR). Our managers sign off certain competences, and it is really straightforward for us to carry that over to the STR forms,â says Parry. As a recent starter, Lovett has found that his training is just as important as passing the exams. âACCA is such a diverse qualification, but I have found that working at Carpenter Box complements this. Every six months, students have an appraisal to assess their development and ensure that training records are up to date. I think this is a great way to ensure that students receive the necessary training and experience.â
âChampion has always given ACCA students an excellent level of support,â says Taylor, who became an ACCA member in 2007, âand this is improving all the time. As well as tuition courses and time off work for studying, we also receive supported on-the-job training and monthly internal training to ensure that we are meeting our own development needs and the needs of our clients.â
Compared with bigger firms, trainees working at small and medium-sized practices often have the opportunity to develop higher#8209;level skills and client contact.
As a trainee accountant in the audit department at Carpenter Box, Lovett is learning how to audit small companies and not-for-profit organisations. âMost of the audit and accounts work is done on spreadsheets but I am also preparing files for clients. This helps me understand what to expect in client files and how they are set up. I have also done some work for the business services group, which has given me a basic understanding of the practicalities of accounting,â he explains.
Young too has gained good experience of different aspects of accountancy, which might not have been so easy working for a larger firm. âEven though I work for Carpenter Boxâs Business Services Group, I have been able to do both audit and tax, and this has given me a good insight for my future career development,â she says.
Parry, at KTS Owens Thomas, works closely with her director, which has led to her having quite a lot of responsibility. âI also get a good amount of client contact â my manager encourages this because it enables me to build relationships that will stand me in good stead as I progress further up the company,â she adds.
Although he has only recently entered the accountancy profession, McNamara can already see the benefits of working for a medium-sized firm. âAs trainees, we get exposure in a number of key areas â and once qualified this will help me to fulfil my goal of working in corporate finance,â he says.
Both Taylor and Tattersall believe that they have benefited from working for a medium#8209;sized firm such as Champion. âThe work is varied,â says Tattersall. âYou get to see a job through from start to finish, and you can see how the whole process of audit and accounts preparation works.â In addition, Taylor believes that he has been able to develop more personal relationships with clients and feels that he can really make an impact on their business. âAs a smaller organisation, we face many of the same challenges as our clients â so we have hands-on experience of what the client is going through in growing their business. The smaller size of the firm also means that you really get to know the team and thereâs always someone to help.â
With the support on offer, both in terms of training and exams, the firms are obviously keen to keep hold of their newly-qualified accountants. âCareer progression is good at Carpenter Box,â says Young. âAs well as specialist and technical areas, we also have the option of moving into management. Although the practice is not too big, Carpenter Box is large enough to have lots of different clients and a varied workload. So there are lots of options for me.â
âJust before the final exams, we meet with the KTS Owens Thomas managing director to discuss our career plans,â explains Parry. âThis gives us an opportunity to candidly discuss where we see ourselves in the future and then together we work out a means to achieve that goal. Whether you want to specialise in a particular area, become partner, move into business advisory services, or ultimately move on from the company, this is discussed. It gives you the structure you need to plan your future career.â
For Tattersall, who has already progressed from an administrator role to trainee accountant, the opportunities for career development are clear âAfter I qualify, I am confident that there will be chances for further progression at Champion.â
Approved employer programme
Visit www.accaglobal.com/students/training_careers for details of employers and training opportunities. In addition, this section also contains links to a host of career support resources.
ACCAâs Approved Employer programme â trainee development stream recognises the learning opportunities employers provide for trainees working towards either the CAT or ACCA Qualification.
There are three levels of approval â silver, gold, and platinum, and the scheme is accessible to all employers. The level of approval awarded reflects the support employers provide to trainees. It is also progressive, enabling organisations approved at silver or gold levels to work towards a higher level of approval.
The practising certificate development stream recognises employers who provide learning opportunities for trainees and members training towards the ACCA practising certificate or the ACCA practising certificate and audit qualification. If you want a specific list of ACCA Approved Employers â practising certificate development, e-mail students@accaglobal.com for further information.
Trainee development matrix (TDM) exemption
Trainees who work for an Approved Employer â trainee development stream at the gold or platinum level are exempt from completing the TDM when achieving their practical experience requirements (PER). Why not encourage your employer to apply to become an Approved Employer at this level? They can do this either online at www.accaglobal.com/employers or by contacting their local ACCA business relationship manager.
Visit www.accaglobal.com/employers/approved for more information about ACCA Approved Employers.
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