Level 2 Account/ Finance Assistant Apprenticeship

Overview

The Accounts / Finance Assistant is mainly responsible for assisting the team of accountants with junior accounting duties. These can vary depending on the team structure and size of the business can work in almost any sector. The Accounts / Finance Assistant apprenticeship is a minimum of 12 months and commonly it ends within 18 months of the start date and this apprenticeship will lead to a formal qualification of a Level 2 (AAT Level 2 Certificate in Accounting, and Level 1 Functional Skills in English, and Maths (If required).

Who this programme is for?

An Accounts / Finance Assistant’s responsibilities are bookkeeping, working with sales and purchase ledgers, running calculations to ensure that records and payments are correct, recording of cash, and data entry. Accounts or finance assistants could work in-house for an organisation or they might work for an accountancy firm, bookkeeping practice, shared service provider, self-employed, or on behalf of several different clients.

Quick Glance

Relevant to

Individuals seeking a strong foundation in accounting and bookkeeping.

Entry requirements

Requirements are assessed on a case-by-case basis.

Type

Apprenticeship

Standard

This apprenticeship follows industry-set standards, setting you up for success.

What will you learn?

The level 2 Accounts / Finance Assistant Apprenticeship is aimed to develop the following knowledge, skills, and behaviours:
Knowledge
Skills
Behaviours
Principles of financial accountingAssist with the investigation and ResponsivenessCollaboration and inclusivity
Principles of management accounting Recording and AnalysingEthical and Professionalism
Principles of financial recordingBookkeepingPrinciples of financial recording Bookkeeping Detail-Oriented
Fundamentals of financial control vulnerabilities Production of accurate financial informationAdaptability
Fundamentals of indirect taxationReconciliation of financial dataStakeholder Engagement
Fundamentals of digital financial and accounting packages Investigate, resolve or escalate transactional queries and errorsWellbeing and resilience
Principles of cyber-security and data securityEffective Stakeholder relationships.Professional judgment
Awareness of diversity, inclusion and culture Effective Communication with Non-finance StakeholdersSustainability
Role of financeUtilisation of digital skills to present financial information
Role of regulators and professional bodiesUse software packages to assist with basic accounting tasks in line with cyber and data security requirements
Communication

Want more information? Speak to one of our experts today

Delivery Methods

Workshops & Seminars

Online resources for self-study

One-to-One coaching session

Professional Discussion

Learning as the part of (rolling) cohort

Practical on-the-job learning

Apprenticeship (A-Z); Businesses

There must be a genuine job available with a contract of employment long enough for an apprentice to complete their apprenticeship. Employers must pay an apprentice’s wages and the role must help them gain the knowledge, skills, and behaviour they need to achieve the apprenticeship with support from the employer.

Apprenticeship is an effective and productive way to grow talent and develop a multi-talented, motivated, and skilled workforce. Following are some known facts about apprenticeships (https://www.apprenticeships.gov.uk/employers/benefits-of-hiring-apprentice#):

  • 86% of employers have said that they were able to develop skills relevant to their organisation with the help of apprenticeships.
  • 78% employers claimed that apprenticeships improved productivity in their organisations.
  • 74% of employers said apprenticeship helped them to increase the quality of their product or service.

Some other benefits include:

  • Adapt the training of an apprentice according to your business needs.
  • Highly motivated to learn new skills and grow in your company
  • Expansion and upskilling of your workforce.

The government has set-up funding bands to determine the maximum you can spend on each apprenticeship training course through your digital account and employers who do not pay the levy will pay 5% of the training cost of each apprentice they take on and remaining 95% will be paid by the government.

Example: Emma is undertaking a level 3 retail team leader apprenticeship with a non-levy employer. The government has set maximum funding bands for this apprenticeship training is £5000. The agreed training cost between employer and the training provider decided is £5000. Out of total £5000 training cost, the government will pay £4750 and the employer will pay £250.

Example: Ava is undertaking a level 3 radio network technician apprenticeship with a non-levy employer, ABC limited. The government has set maximum funding bands for this apprenticeship training is £15000. The agreed training cost between employer and the training provider decided is £15000. Out of total £15000 training cost, the government will pay £14250 and the employer will pay £750. ABC limited has used employer incentives to pay £750 which they have had received from the government for hiring an apprentice.

Apprenticeship (A-Z); Learners

It is a job with training programme where the apprentice/ employee gains the knowledge, skills and behaviour on and off a job and get paid. All apprenticeship training programmes end in achieving formal qualification.You can start an apprenticeship with your existing employer or a new employer.

Anyone with the age of 16 and over not in full-time education can apply for an apprenticeship. No prior qualification needed for apprenticeships either some of the employers might require GSCEs (A-C) in English, Math and Science.

Apprentices are entitled at-least to apprentice wage rate (£6.40) if they are either

  • Aged 16 to 18: The current National Minimum Wage rate for an apprentice is £6.40 per hour.
  • Aged 19 or over and in your first year: The current National Minimum Wage rate for an apprentice is £6.40 per hour.

Example: Emma at age 23 in the first year of her apprenticeship is entitled to a minimum hourly rate of £6.40, but from the second year she will be entitled to National minimum wage rate.

Apprentices are entitled to the minimum wage for their age if they both:

  • are aged 19 or over
  • have completed the first year of their apprenticeship

There is no upper limit for employers to pay to apprentices, employers can pay above to apprentice wage rate and National minimum wage rate.

Start Your Journey with Us Today!

Thanks for your interest!