Private Practice Accountant

Accountants help companies, charities, public sector organisations and individuals manage their finances. They can be involved in preparing year-end accounts, dealing with payroll for a company's employees, advising on tax and VAT matters or coming up with strategies to make businesses more profitable.

Accountants in private practice work for a range of clients and charge for their services.

In smaller practices they usually deal with all aspects of accountancy including preparing accounts, filing tax returns and helping their clients get any tax benefits to which they are entitled. They also give advice and answer questions from their clients. For major clients they may be involved in large-scale reorganisations, helping improve business efficiency and profitability.

In larger firms, accountants may specialise in certain areas such as:

• Audit – inspecting the business or organisation accounts systems and providing assurance that a company's accounts have been properly prepared, that they comply with financial reporting standards and that they present a true and fair view of its financial position and performance.
• Accounts – preparing monthly, quarterly and annual reports and helping with budget preparations and forecasting.
• Tax Planning – recommending ways of structuring financial matters to minimise payments and making sure tax returns are completed and submitted.
• Corporate Finance – assessing merger and acquisition opportunities, calculating the value of deals and raising funds to develop the business.
• Business Recovery and Insolvency – helping companies recover money owed or improve their cash flow; this may involve restructuring, selling assets or divisions, or managing the business until it is sold.
• Forensic Accounting – searching for evidence of fraud to help clients resolve legal disputes and quantifying losses arising from incidents such as fire, accidents, floods or natural disasters.
• Management Consultancy – looking at all areas of the business to improve efficiency.

Accountants usually work from 9am to 5pm, Monday to Friday, but may need to work longer hours around the end of their clients' financial year when the workload tends to increase.

Part-time or job-share work is possible in some practices. Temporary contract work may also be available.

Most private practice accountants work from an office, but usually visit clients at their own workplaces or homes. This can mean travelling throughout the UK, possibly staying away from home, or overseas when working on a large project.

The salary for graduates starting training is usually between £17,000 and £23,000 a year.

There are around 275,000 members of the six chartered accountancy bodies in the UK and Northern Ireland and a further 165,000 completing their professional training. Statistics show that more young people and more women are becoming accountants.

Private practice accountancy firms vary widely in size, from small partnerships serving a local area to large international companies. Their clients can also vary, from individuals and small businesses up to multinational organisations with worldwide offices.

Experienced and qualified candidates are in demand, especially specialists in tax.

Most employers recruit direct. Check employer websites for details. Jobs are also advertised in accountancy publications, by specialist recruitment agencies and in national and regional newspapers. There are many online sites that specialise in accounting and finance jobs.

Most accountants are graduates who have then completed professional qualifications. However, there are also entry routes for people with GCSE's/S grades or A levels/H grades.

For those taking a degree any subject may be acceptable, but maths, accountancy, business studies, economics and finance or other numerate subjects, are especially useful.

Some accountancy degrees give an exemption from the first stage of the professional exams. Some areas, for instance forensic accounting, list specific requirements, such as a degree in computing, risk management or law.

Entry requirements for degrees vary, but are often at least, two A…