Assistant accountant

Key information

Reference: ST0002
Date updated: 01/08/2023
Level: 3
Route: Legal, finance and accounting
Regulated occupation: No

Details of the occupational standard

T-Levels logo T Levels focus on vocational skills and can help students into skilled employment, higher study or apprenticeships. Each T Level includes an in-depth industry placement that lasts at least 45 days. Students get valuable experience in the workplace; employers get early sight of the new talent in their industry.

Occupation summary

This occupation is found in all sectors and industries, including the private and the public sector. This ranges from small organisations through to large global corporations and government bodies.

The broad purpose of the occupation is to support internal and external customers in the administration of their financial and accounting activities. They may work as an assistant accountant in a practice or alternatively within the finance function of an organisation. An assistant accountant helps in the operation of day-to-day financial activities. These may include data entry to month end management accounts and year-end financial statements. In addition, the assistant accountant may find themselves involved in regulatory financial requirements. These may include the completion of VAT returns or assisting in the preparation of tax computations.

In their daily work, an employee in this occupation interacts with a wide range of internal and external stakeholders to deliver accurate and timely accounts services. This will include their line manager and team members, together with the workers and the clients of the organisation they are managing accounts for. They may liaise with software departments, or houses, where the accounts system is hosted externally.

An assistant accountant will be responsible for managing their own caseload and time whilst reporting to a more senior accountant.

Typical job titles include:

Accounting technician Accounts clerk Assistant accountant Assistant cashier Bookkeeper Finance assistant Purchase ledger clerk Sales ledger clerk

Occupation duties

Duty	KSBs
Duty 1 Assist with monthly and year end reporting of financial and accounts information. This will include the timely collation of data from a range of sources, such as different functions within one organisation, or a range of external clients if operating in a practice. This includes both foreseeable finance and accounting data requirements and unexpected requirements.	K1 K3 K4 K5 K6 S2 S3 S4 S5 S6 S7 S8 B2 B3 B7
Duty 2 Maintain financial and accounting records including the timely collation of data from a range of sources. For example, different functions within one organisation, or a range of external clients if operating in practice. This includes both foreseeable requirements and unexpected requests, often to tight timescales.	K3 S2 S3 S4 S5 S10 B2 B3 B7
Duty 3 Safeguard against suspicious activities for example anti-money laundering.	K4 K5 K6 K7 K8 K12 S2 S5 S8 B2 B3 B7
Duty 4 Assist with the compilation of accounting and financial records, for example, to inform direct and indirect tax returns under supervision, audit documentation or control account reconciliations.	K2 K7 K12 S1 S2 S3 S5 S6 S8 B2 B3
Duty 5 Deliver financial and accounting information and data to stakeholders to ensure that key messages are communicated.	K5 K12 S7 S11 B1 B2 B3 B4 B7 B8
Duty 6 Assist in the maintenance and use of digital systems by using software applications and packages to support the delivery of accurate and timely financial and accounting information.	K6 K11 S3 B2 B3 B7
Duty 7 Use digital systems safely to ensure that the cyber security of the organisation is not compromised, and data handling legislative requirements are met.	K4 K5 K6 S9 S10 S11 B2
Duty 8 Undertake Continuous Professional Development by keeping up to date with relevant statutory obligations and procedural best practice.	K2 K7 K10 K11 B2 B4 B5 B6 B8
Duty 9 Collaborate with people both internally and/or externally at appropriate levels with a view to deliver a service that meets customer’s needs with a commitment to professional and ethical standards, for example, professional code of conduct and duty of confidentiality as appropriate.	K8 K9 K12 S2 S9 S11 B1 B2 B5 B8

KSBs

Knowledge

K1: Principles of financial accounting, adjustment and reporting including calculation and input of accruals and prepayments, maintenance of the fixed asset register, accounting for asset purchase and disposal, depreciation, and financing. Back to Duty

K2: Principles of management accounting for example, the principles of provision of costings, awareness of monthly and rolling forecasting and including the principles of financial planning, the calculation of income and expenditure budgets, budget holder sign off, and the investigation and reporting of variances to budgets. Back to Duty

K3: Principles of creating and maintaining financial records including accounts payable, accounts receivable, cash management and principles of payroll. Back to Duty

K4: Fundamentals of potential vulnerabilities within systems of financial control such as internal fraud and money laundering. Back to Duty

K5: Fundamentals of indirect taxation including approaches to completing indirect tax returns and supporting documentation and records. Back to Duty

K6: Fundamentals of digital financial and accounting packages and applications including the maintenance of key databases, spreadsheets, data analytics and the appropriate use of data to provide information. Back to Duty

K7: Principles of cyber-security and working safely online within a finance and accounting context. Back to Duty

K8: Principles of data security and legislative requirements regarding data handling in a financial and accounting context. Back to Duty

K9: Approaches to diversity, inclusion and cultural awareness and their impact on finance and accountancy. Back to Duty

K10: The role of accountancy or finance within the organisational business strategy. Back to Duty

K11: The wider financial and accounting professional landscape including the requirement to stay abreast of changes in technology and practice and awareness of the role of regulators and professional bodies. Back to Duty

K12: The principles of professional ethics and codes of conduct in a finance and accounting environment. Back to Duty

Skills

S1: Assist with the investigation and response to financial information queries. Back to Duty

S2: Record and analyse financial data using the organisation’s standard tools and processes. Back to Duty

S3: Apply double entry bookkeeping and accounting standards to process financial documents, generate financial statements and report financial information to users of accounts. Back to Duty

S4: Assist with production of accurate financial information for the preparation of accounts. Back to Duty

S5: Reconcile financial data, such as, preparation of reconciliations or review of reconciliations. Back to Duty

S6: Investigate, resolve or escalate transactional queries and errors within their remit as appropriate. Back to Duty

S7: Develop and maintain effective working relationships with stakeholders. Back to Duty

S8: Communicate financial information in a way that non-finance stakeholders can interpret and understand. Back to Duty

S9: Utilise digital skills to present key financial information using finance and accounting software and applications. Back to Duty

S10: Use software packages to assist with basic accounting tasks in line with cyber and data security requirements, using data securely and safely, including backing up data. Back to Duty

S11: Communicate using varying approaches and different media methods with an appreciation of the risks and benefits to the business of social media and other digital applications. Back to Duty

Behaviours

B1: Collaborative and inclusive - builds strong collaborative working relationships recognising the importance of diversity and inclusion. Back to Duty

B2: Ethical and Professional - applies a transparent, objective and sustainable manner to meet the ethical requirements of the profession. Back to Duty

B3: Organised with an attention to detail – organises work efficiently and effectively to meet required targets, escalating queries or problems as appropriate. Demonstrates a professional approach to working to deadlines. Back to Duty

B4: Embracing change - accepts changing priorities and working requirements readily and has the flexibility to maintain high standards in a changing environment. Back to Duty

B5: Engaging with wider stakeholders and keeping up to date with changes in the finance industry which impact their organisation or role. Back to Duty

B6: Wellbeing and resilience – demonstrates a commitment to personal wellbeing and an awareness of support and resources available. Contributing to cultivating an open, honest, and empathetic work environment. Back to Duty

B7: Professional judgement – applying a critical eye to transactions and trends for reasonableness, demonstrating a ‘right first time approach’. Back to Duty

B8: Carry out the duties of their role by reference to sustainability good practice whether specific to their occupation or externally recognised. For example, by prioritising practices in their work that contribute to minimising or reversing climate change by reducing the use of non-renewable resources. Back to Duty

T Level in accounting

Qualification type: T Level

Qualification level: 3

Awarding organisation: Pearson

Approval date: 16/09/2021

Available from: 01/09/2022

Occupational specialism: Assistant accountant

Product page

Aligned occupational standards

ST0002 Assistant accountant

End-point assessment (EPA plan)

Rigorous robust and independent assessment undertaken by an apprentice at the end of training to test that the apprentice can perform in the occupation they have been trained in and can demonstrate the duties, and knowledge, skills and behaviours (KSBs) set out in the occupational standard

End-point assessment organisation (EPAO)

An organisation approved to deliver end-point assessment for a particular apprenticeship standard. EPAOs must be on the register of end-point assessment organisations

Holistic or synoptic

Assessment of an apprentice’s knowledge, skills and behaviours in an integrated way i.e. assessing several KSBs at the same time

Knowledge, skills and behaviours (KSB)

What is needed to competently undertake the duties required for an occupational standard

Valid

Referred to in relation to assessment methods; fit for purpose

Change request policy

Most changes to an apprenticeship are made as a result of a holistic review of it. We prioritise the need for such reviews based on a range of factors. These include:

the time since the apprenticeship was developed or last reviewed (taking account of its typical duration)
the existence of any known problems with it (e.g. lower than expected starts, low achievement rate, high withdrawal rate, any issues with the availability of training or end-point assessment provision)
whether the apprenticeship is currently subject to a dispensation
the relative significance of the apprenticeship based on how many users it has

The availability of an employer group to support a review and its potential impact on any related technical education product also inform the timing of a review.

Details of apprenticeships that are currently being revised or adjusted are available in our revisions and adjustments status report.

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