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What is an accountant?

Accountants basically manage money. The primary role of an accountant is to help individuals, businesses, or organisations maintain their financial health by recording, organising, and interpreting financial data.

How much does an accountant earn?

The average annual salary for a full-time accountant in Scotland in 2023 is £37,013.

How do I become an accountant?

Becoming an accountant in Scotland involves a combination of education (academic or vocational), professional qualifications, and practical experience.

Possible routes include:

  • National 4 and 5s/Highers/Advanced Highers, followed by a degree, and then professional qualifications
  • Scottish Vocational Qualification (SVQ) Level 3 (or similar) *, followed by a degree, and then professional qualifications
  • An apprenticeship, starting at an advanced, higher, or degree level, while also pursuing professional qualifications
  • Begin in a junior role and progress towards professional qualifications through concurrent work experience.

*SVQs are work-based qualifications, so you need to be employed or have a placement in a relevant job role. This allows you to apply your learning directly to the workplace.

Studying at college

In Scotland, many colleges offer accounting and finance courses at HNC (Higher National Certificate) and HND (Higher National Diploma) levels.

These include:

Studying at university

In Scotland, many universities offer specialised accounting and finance degree courses.

These include:

Apprenticeships

An accountancy apprenticeship in Scotland is a structured training programme that combines on-the-job work experience with formal education and training. It’s a great way for individuals to earn while they learn, gaining practical skills and theoretical knowledge in the field of accounting.

Completing an apprenticeship can open doors to entry-level positions within accounting firms or finance departments, and some apprenticeship programmes can lead to professional qualifications, such as the AAT (Association of Accounting Technicians).

The AAT qualification is typically the minimum level expected of an accountant, but to become a chartered accountant, you need to progress to the ACCA or CIMA qualifications. 

Professional Qualifications

These qualifications often involve a combination of education, professional experience, and examinations. Attaining a professional qualification in accounting can enhance career prospects, open up new job opportunities, and signify a commitment to high ethical and professional standards within the accounting profession.

ACCA (Association of Chartered Certified Accountants)

A global professional accounting body that offers the ACCA qualification, which is recognised internationally. It covers a broad range of accounting, finance, and management topics.

CIMA (Chartered Institute of Management Accountants)

CIMA offers a qualification that emphasises management accounting and is particularly relevant for those interested in strategic financial management in business.

AAT (Association of Accounting Technicians)

While AAT is not a chartered qualification like ACCA or CIMA, it is well-regarded for entry-level and intermediate positions in accounting.

Practical Experience

Practical experience is crucial, as it provides a real-world application of theoretical knowledge and helps individuals develop the skills necessary for a successful career in accounting.

In Scotland, practical experience is typically gained through:

  • Work Placements or Internships: Securing internships or work placements with accounting firms or finance departments provides hands-on experience in applying accounting principles to real business situations.
  • Apprenticeships: Accountancy apprenticeships offer a structured approach to gaining practical experience while earning a salary. Apprentices work alongside experienced professionals and attend formal education sessions.
  • Entry-Level Positions: Starting in entry-level positions, such as accounting assistants or junior accountants, allows individuals to gradually accumulate practical experience while contributing to the day-to-day financial activities of an organisation.

What skills do I need to become an accountant?

Here are some key skills that are important for a successful career in accounting:

  1. Numeracy: Numeracy skills ensure that financial data is accurately recorded, summarised, and reported.
  2. Attention to Detail: Small errors can have significant consequences, so attention to detail is crucial when working with financial data, records, and reports.
  3. Analytical Skills: Accountants must be able to analyse financial information and identify trends, patterns, and potential issues. Strong analytical skills are crucial for making informed decisions and recommendations.
  4. Integrity: Accountants handle sensitive financial information, and integrity is crucial to maintaining the credibility and reputation of the profession.
  5. Communication Skills: Communication skills are essential for explaining financial information to clients and colleagues.
  6. Time Management: Accountants often work on multiple projects with deadlines. Effective time management ensures that tasks are completed accurately and on time.
  7. Adaptability: The financial landscape is constantly evolving, with changes in regulations, technologies, and business environments. Accountants need to be able to adapt quickly to these changes and stay informed about industry developments.
  8. Business Acumen: Understanding the broader business context is crucial for accountants. This includes knowledge of industry trends, economic factors, and the strategic goals of an organisation.
  9. Networking: Building a professional network is crucial in the accounting world. Attending industry events, joining professional organisations, and connecting with professionals on platforms like LinkedIn can open doors to mentorship, job opportunities, and industry insights.

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