An Assistant Accountant provides support to internal and external customers, and will mainly work either as an assistant accountant within a practice or within the finance function of an organisation. The Assistant Accountant apprenticeship takes up to 18 to 24 months to finish and this apprenticeship will lead to a formal qualification of Foundation Certificate of Bookkeeping, Advance Diploma in Accounting, and Level 2 Functional Skills in English and Maths.
Who is it for?
This role consists of providing support and assistance in the day to day financial activities of the organization such as data entry, month-end management accounts, VAT returns, assisting in the calculation of tax and year-end financial statements. The accounting jobs can be in an accountancy firm, any public or private sector industry, or even in NHS such as Accounts Clerk, Purchase Ledger Clerk, Trainee Accounting Technician, Cashier Finance Assistant, and Sales Ledger Clerk.
What will you learn?
The level 3 Assistant Accountant Apprenticeship is aimed to develop the following knowledge, skills, and behaviour:
Apprenticeship (A-Z); Learners
It is a job with training program 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 you 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 (£4.15) if they are either
- Aged under 19
- Aged 19 or over and in the first year of their apprenticeship.
Example: Emma at age 23 in the first year of her apprenticeship is entitled to a minimum hourly rate of £4.15, but from the second year she will be entitled to National minimum wage rate; which is £8.20 per hour.
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.
Apprenticeship (A-Z); Employers
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.