Preparing for the job?

#1

Hi guys

I have just recently accepted a position for Sept 2010 but I was wondering what I could do from now to then to make sure that the transition is easier. I was considering subscribing to ‘the economist’ or ‘accountancy age’ but am unsure of the benefits of this.

Also would doing some pre study be beneficial and if so what things should I do?

#2

Do you have a business / accountancy background?

Keeping on top of business and accounting news will always help. It might help to keep an eye on any news about IFRS as that’s an ongoing issue. I cant imagine why doing pre-study would be a bad thing, unless you start learning something that’s completely wrong and then have to try to forget it so you can learn how to do it the right way.

#3

Obviously the salary, leave and benefits would depend on the company and the location of the office.

I can tell you that the base salary for PwC in the East Midlands is around about the £21.25k mark with extra benefits of £450 plus 1% of your base salary. Holiday is 25 days/year but can be traded up or down by 5 days.

The procedure for PwC was that an offer pack was sent by email and you have to send back several forms to confirm your acceptance. It’s quite similar for Deloitte although the offer is sent in the post.

#4

Pre study. Best thing is to contact the tutors to ask what they suggest you start with.
PwC London send out pre course reading as you get closer to the joining date. If you are non accounting background then get into the study soon, if you can. Especially accounting, ledger accounting, double entry, journals, provisions, accruals and prepayments. This is the stuff you do on day one!!
All very easy for accountancy grads but initially seems like double Dutch to non accountants. The good news is you eventually pick it up and wonder what all the fuss was about.
Taxation. See if you can get to grips with opening and closing year rules for traders IT calculations. That’ll get you going.

#5

If you are doing ACA see:

http://financial.kaplan.co.uk/TrainingandQuals/Accountancy/ACA(ICAEW)/Precoursework/Pages/default.aspx

If something else try and find it on that website

#6

I would recommend you << business accounting >> by Frank Wood , that will provide you some basic knowledge of accounting . If you are going to study ACCA, you wil find this book will really help you prepare and pass the F-Level exams.

#7

Thanks for the posts guys. I come from a business background and I work as a finance assistant so feel comfortable with the bookkeeping stuff would just like to do some pre work I think for tax and law and just brush myself up on all of the stuff as it could give me a head start as its been a while since I have been at uni. I am studying ACA so is Frank Wood any good even though am doing that?

#8

Oh yeah the kaplan thing seems good but is there any more advanced prep or maybe I don’t need to be doing it?

#9

Frank Wood was the core textbook I used in my first year studying BA Finance, Accounting and Management at Nottingham Uni. It’s quite good as an introduction to accounting things like double entry, balance sheets, income statements etc. It doesn’t really go much beyond basic though.

#10

If you want to do advanced prep buy the books from gillards - they are £25/£40 each

#11