Accounting Technician Apprentice

Accounting Technicians work in all types of commercial and public sector enterprises.

Whereas day-to-day responsibilities depend upon the particular commercial or public sector enterprise, the Accounting Technician commonly assumes responsibilities for a wide range of accountancy, finance and taxation matters.

In medium and large enterprises, the Accounting Technician may be a core member of a team that reports to senior management. Most Accounting Technicians begin their careers in a supporting role whereby they are mentored by qualified experienced professionals. In these environments, the Accounting Technician is initially responsible for computerised accounting system tasks such as bookkeeping, recording receipts and payments, processing invoices and monitoring ledger balances. With experience, the Accounting Technician is able to prepare and analyse a range of financial reports and budgets, assist with taxation compliance and has the ability to respond to technical external audit queries.

In smaller business organisations, the Accounting Technician may be entirely responsible for all accounting and finance activities, which could include payroll administration, bookkeeping, monthly management accounts, preparation of year end financial statements, budgets, tax compliance and management of working capital.

Accounting Technicians are also commonly employed by professional accountancy and consultancy firms. In these environments, the Accounting Technician could be responsible for tasks such as preparation and checking of client accounts, bookkeeping on behalf of clients, client tax returns and a range of other accounting and finance related tasks.

In summary, Accounting Technicians have the capacity to be employed by almost every type of business, including:

Occupation Title: Accounting Technician

• Professional accountancy and consultancy firms

• Charities

• Banks

• Building societies

• Insurance companies

• Utilities

• The HSE

• Local/health authorities

• Media/retail companies

• Industrial organisations

• Manufacturing/engineering firms

Typical tasks/responsibilities

With experience, there is the possibility to be self-employed as an Accounting Technician. The self-employed Accounting Technician provides a range of accountancy, finance and taxation services directly to clients. These services could include advising on accountancy and taxation compliance, budget preparation, assisting with the preparation of statutory financial statements and offering specialised consultancy services.

Regardless of the type of enterprise in which the Accounting Technician may work, the dynamic nature of the role requires the Accounting Technician to be an independent thinker, to be able to exercise professional judgement and to be a good communicator.

In the modern business environment, the vast majority of work done by the Accounting Technician is undertaken in a digital environment. Regardless of the size of the organisation and whether employed or self-employed, there is a professional responsibility to be aware of and understand the dynamic nature of technological developments to the extent that they may affect the Accounting Technician’s accountancy, finance or taxation skill set. The Accounting Technician has a solid understanding of the technological landscape and can work effectively with relevant software applications. The Accounting Technician is also cognisant of the importance of continuing professional development.

Knowledge

• The purpose and scope of financial accounting

• The conceptual and regulatory environments in which financial statements are prepared

• Accounting standards and Companies Acts legislation

• The administration of personal and business taxation

• Business organisations and functions

• Information systems in business organisations

• Nature of leadership and management

• Corporate governance, social responsibility and professional ethics

• Theoretical bases to relevant financial accounting and corporate governance

• The general framework within which law operates

• Principles of company law

• Principles of contract law, tort, employment law, agency law, consumer law and data protection

• The nature and purpose of management accounting, costing terms and costing concepts

With experience, there is the possibility to be self-employed as an Accounting Technician. The self-employed Accounting Technician provides a range of accountancy, finance and taxation services directly to clients. These services could include advising on accountancy and taxation compliance, budget preparation, assisting with the preparation of statutory financial statements and offering specialised consultancy services.

Regardless of the type of enterprise in which the Accounting Technician may work, the dynamic nature of the role requires the Accounting Technician to be an independent thinker, to be able to exercise professional judgement and to be a good communicator.

In the modern business environment, the vast majority of work done by the Accounting Technician is undertaken in a digital environment. Regardless of the size of the organisation and whether employed or self-employed, there is a professional responsibility to be aware of and understand the dynamic nature of technological developments to the extent that they may affect the Accounting Technician’s accountancy, finance or taxation skill set. The Accounting Technician has a solid understanding of the technological landscape and can work effectively with relevant software applications. The Accounting Technician is also cognisant of the importance of continuing professional development.

On successful completion of the proposed apprenticeship, a person in the occupation of Accounting Technician will have the following knowledge, skills and competences:

Skills – Core Skills

• Accounting for a wide range of transactions and events

• Extracting a trial balance from an accounting ledger

• Preparing financial statements for sole traders, partnerships and limited liability companies

• Analysing and interpreting financial statements

• Applying the principles and rules that govern income tax (including PAYE system), taxation of business profits, Value Added Tax (VAT) and Capital Gains Tax (CGT)

• Cost accumulation for profit and inventory measurement purposes

• Standard costing for planning and control purposes

• Budgeting for planning and control purposes

• Cost-volume-profit techniques for decision-making purposes

• Relevant costing techniques for decision-making purposes