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19TH OCT 2023

An Employer's Guide to Accounting Apprenticeships

Employer Training and Apprenticeships

If hiring or upskilling talent is crucial for your business, then one effective way to do so is through apprenticeships. In this article, we'll explore what accounting apprenticeships can bring to your business and the training options available to make an informed decision.

In the current climate, 73% of organisations are currently facing skills shortages, with accounting job titles highlighted as one of the top skills missing across the UK.  

If hiring or upskilling talent is crucial for your business, then one effective way to do so is through apprenticeships. 

In this article, we'll explore what accounting apprenticeships can bring to your business and the training options available to make an informed decision.  

What is an accounting apprenticeship? 

Apprenticeships are an affordable and effective training solution and employment incentive used across all industries for new recruits and existing staff.  

They combine workplace learning with classroom training, designed to help individuals develop the skills and knowledge required to become proficient accountants.  

Employers play a vital role in providing hands-on experience to the apprentice as they work towards completing their apprenticeship standard while gaining valuable accounting experience.  

Types of accounting apprenticeships 

Finance/Accounts Assistant Level 2 (AAT) 

The AAT in accounting Level 2 is designed for junior and entry-level accounting roles to provide a solid foundation in finance administration. For most of our learners, the Level 2 qualification is the perfect place to start and develop the skills to work in an accounts department. 

The core course areas include: 

  • Bookkeeping and transactions 
  • Bookkeeping controls 
  • Elements of costing 
  • Using accounting software 
  • Work effectively in finance 

Find out more

Assistant Accountant Level 3 (AAT) 

Apprentices can further enhance their skills and knowledge with the Level 3 qualification to pursue a career in accounting or finance. While this is typically the next step for individuals who have completed the AAT Level 2, it can be a starting point for many learners. 

The core course areas include: 

  • Advanced Bookkeeping 
  • Final accounts preparation 
  • Management accounting and costing 
  • Indirect tax 
  • Ethics for accountants 
  • Spreadsheets for Accounting 

Find out more

Professional Accounting Taxation Technician Level 4 (AAT) 

Designed to train existing accountants to technician level. This qualification can lead to a specialist role in accounting, and learners can also progress onto a higher education course in a subject related to accounting, banking, insurance or other financial services.

The core course areas include: 

  • Financial statements of limited companies 
  • Management accounting: budgeting 
  • Management accounting: decision and control 
  • Accounting systems and control 
  • Personal tax or credit management 
  • Either business tax or cash and treasury management 

Find out more

Why choose apprenticeships over other training methods?

There are many benefits for employers to choose apprenticeships.  

  • Tailored skill development 

You can align apprenticeship skills and knowledge with your business needs and skills gaps. 

  • Cost-efficiency 

Funding and incentives for apprenticeships make it affordable to recruit and retrain new talent. Whether you're a levy-payer or not, apprenticeships remain a cost-effective training option. 

What is the apprenticeship levy? Find out more here.

  • Address retention 

By training and developing staff with apprenticeships, your business will benefit from employees’ higher job satisfaction and loyalty to the organization. 

According to a National Apprenticeship Service guide, 7 out of 10 employers say that recruiting and upskilling staff through apprenticeships improved staff retention and an additional 65% of apprentices remained working for the company after they completed their apprenticeship. At GC, this figure is much higher, with 9 out of 10 apprentices staying with the same employer. 

  • Increased productivity 

Apprentices contribute towards your workforce while learning, therefore boosting productivity as they gain experience. 

  • Expand and diversify your business 

Experienced employees can mentor apprentices, passing on their expertise, while apprentices bring fresh perspectives, diverse skills and the latest industry knowledge into organisations. 

What businesses can benefit from accounting apprenticeships? 

Businesses of all sizes across a range of industries who deal with financial transactions and reporting requirements can benefit from accounting apprenticeships. These programmes help in developing a skilled and knowledgeable workforce that can manage financial responsibilities effectively.  

How to recruit or upskill an accounting apprentice?

Our Employer Training & Apprenticeships team offers no-obligation consultations and recruitment support for companies exploring apprenticeships to train their new or existing staff. Reduce your training costs with us today and discuss your training needs. Get in touch by email: employer.training@gloscol.ac.uk or call on 0345 155 2020