What will I learn
The apprenticeship standard for Financial Accounting and Management covers essential knowledge, skills, and behaviours crucial for competence in finance and accounting roles. In terms of knowledge, apprentices learn about financial accounting principles such as accruals, prepayments, fixed asset management, and financial reporting. They also gain insights into management accounting principles, including costings, budgeting, and variance analysis. Additionally, they acquire knowledge of financial record-keeping, indirect taxation, digital financial tools, cybersecurity, and professional ethics within the finance sector.
Skills developed during the apprenticeship include assisting with financial queries, recording and analysing financial data, applying double-entry bookkeeping, producing accurate financial information, reconciling financial data, and resolving transactional errors. Apprentices also learn to communicate financial information effectively to non-finance stakeholders, utilize digital skills for financial presentations, and adhere to cybersecurity and data security requirements while using accounting software.
The apprenticeship emphasizes behavioural aspects such as collaboration, ethics, organization, adaptability to change, engagement with stakeholders, and maintaining personal wellbeing. Apprentices are encouraged to build inclusive working relationships, demonstrate ethical and professional conduct, organize work effectively, embrace change, stay updated with industry changes, prioritize wellbeing and resilience, exercise professional judgment, and contribute to sustainability practices in their role.
