Newly-qualified accountants are often eager to identify the quickest way to the top – whether they plan to work in public practice or for an accounting department within a large company. With no single clearly defined route, it can be a difficult path to identify. One thing is for sure: there are no shortcuts. You have to be prepared to work for it. However, there are ways to progress more quickly up the career ladder.
As a starting point, draw up your CV the way you would like it to look in thirty years’ time. By analysing the skills, competencies and qualifications you will need to make these changes in levels of responsibility, you will be able to recognise the gaps to be filled along the way.
Career progression is not just about qualifications; it’s also about expanding your skill set and gaining experience. Many newly-qualified accountants choose to leave public practice firms (that specifically offer accounting services to other companies and individuals) much too early, instead opting to join a large industrial or commercial company with an accounting department. This is perhaps because they do not recognise that many of the skills acquired there during the first few post-qualifying years are valued just as equally in non-accounting businesses, such as manufacturing firms.
Whilst newly-qualified accountants obviously need the technical knowledge to do their job, they also need softer skills to help them integrate into each workplace and role. Professional bodies like the AAT have recognised the value of developing both technical and softer skills. For this reason, we place a strong emphasis on Continuing Professional Development (CPD), through which we encourage a combination of approaches, ideas and techniques to help our members manage their own learning and growth. Members are expected to keep themselves up-to-date with changes in regulations and reporting standards in their particular field, as well as reflecting on what other skills gaps they might need to fill. Without this combination of knowledge and skills, they would be less able to do their job efficiently, effectively and, most importantly, legally.
It is important to bear in mind that one member’s area of work will differ from another’s; that’s why we invite members to consider their own personal learning and development needs relevant to them, rather than advising members on what we think they ought to do. For instance, someone who works in a big government department will almost certainly have very different needs from someone who runs their own private accountancy practice.
For many accountants, the first real major shift in their career occurs the first time they move out of a pure finance function and into a multi-functional management team. An understanding of the techniques and objectives of the production, marketing and HR departments are all necessary to function at a senior manager level.
As one moves through the profession towards Finance Director types of roles, the focus is much more on looking at the bigger strategic picture and communicating that to others, rather than specific technical skills. For some, this transition will come naturally. For others, it is much more of a process of committed learning and development. One thing is apparent: developing skills and keeping yourself updated on changes within your sector will put you on the right path to professional success.
Adam Harper has been Director of Professional Development at the AAT since February 2005. He oversees the development of services and support for members; maintains the quality and status of AAT membership; and represents views of the membership working in and on behalf of UK business.
Adam acts as one of the AAT's main contacts with Government and the profession's regulatory bodies, managing the AAT's engagement with HM Revenue & Customs, HM Treasury, Department for Business Innovation and Skills and the Financial Reporting Council.
