What is financial education and training?

Trained accountants can use their qualification and apply their skills as part of a career in education and training

The importance of professional accounting qualifications such as the ACCA Qualification has created an industry that focuses on preparing students for their professional qualifications. A relevant accounting qualification (such as the ACCA Qualification) is a pre-requisite and the associated understanding of professional practice and commercial experience means that lecturers have the expertise to help students perform at their best.

In addition, colleges and universities offer a variety of further education courses in the field of accounting. AS and A Level accounting courses are on offer, as well as undergraduate and postgraduate degrees at universities across the country. The majority of roles available are as lecturers in an accounting with academics expected to deliver teaching which reflects their subject-specialist knowledge to college students, undergraduates, postgraduates (MA/MSc) and professional audiences.

Key responsibilities

Responsibilities will vary, but examples include:

Professional training
  • Prepare students for their professional qualifications
  • Liaise with professional bodies and employers to ensure syllabus appropriateness
  • Keep up to date with industry developments
Higher education
  • Deliver teaching which reflects the syllabus & their subject-specialist knowledge
  • Provide pastoral support
  • At a more senior levels (such as Professor) contribute to, or supervise, doctoral programmes
  • Contribute to research, teaching and learning strategy in the business school.
  • Engage with industry partners to ensure delivery of a relevant curriculum

Why are they important?

Qualified professionals working in these roles are important to the successful education, training and development of the next generation of accountants and finance professionals. Additionally, qualified accountants can be attractive to universities who are often keen for staff to engage with industry partners to ensure delivery of a relevant curriculum that aligns closely with developments in the sector.

Skills needed for this role

Professional qualifications such as the ACCA Qualification are highly beneficial, and sometimes essential, for roles in this area. Ideally, Lecturers will also hold a teaching qualification. Individuals should have excellent communication and interpersonal skills and, in particular, be comfortable engaging with young people & adults.

Strategic Professional Options examinations linked to this role

Advanced Financial Management

Advanced Performance Management

Advanced Taxation

Advanced Audit and Assurance

Career opportunities presented by this role:

Opportunities are plentiful in accounting education and training and, within the university environment, lecturers can progress to associate professor and professor level.

Competencies

High level competencies required include:

  • Advisory and consultancy

    A. Gathers and understands financial and non-financial information to develop complete knowledge of the client business and the environment in which it operates.

    B. Provides expert advice that will add value to the business and gain advantage.

    C. Identify and advise on business partnering to develop strategic relationships to create opportunities, improve performance and solve business problems.

    D. Prepare and present business plans and advise on the actions to implement these plans.

  • Audit and assurance

    A. Advises on and communicates effectively the role and scope of audit and assurance engagements to relevant stakeholders.

    B. Applies regulatory, legal, professional and ethical standards relating to audit and assurance engagements.

    C. Plans and prepares for audit and assurance engagements.

    D. Performs effective audit, and assurance engagements.

    E. Reviews and reports on the findings of audit and assurance engagements.

    F. Guiding efficient and effective operations.

  • Corporate and business reporting

    A. Prepares financial statements, corporate financial and integrated reports for external stakeholders using appropriate technology.

    B. Leads effective decision making through analysing, evaluating and communicating performance and position of entities.

    C. Prepares financial statements for groups of entities using appropriate technologies.

    D. Monitors, critically evaluates, and advises on the relevant accounting standards, regulations, conceptual and financial reporting frameworks.

  • Data, digital and technology

    A. Identifies strategic options to add value, using data and technology.

    B. Analyses and evaluates data using appropriate technologies and tools.

    C. Applies technologies to visualise data clearly and effectively.

    D. Applies scepticism and ethical judgement to the use of data and data technology.

  • Financial management

    A. Links developments in global trade, markets, business practices and the economic environment to required improvements in the financial and risk management of an organisation.

    B. Advises on business asset valuations, capital projects and investments using appropriate analytical qualitative and quantitative techniques.

    C. Identifies, evaluates and advises on alternative sources of business finance and different ways of raising finance.

    D. Communicates and advises on the impact on financial decision making on current developments in regulation, governance and ethics.

    E. Assesses and advises on appropriate strategies to manage business and organisational performance regarding business and finance risk and effectively communicates the impact.

  • Governance, risk and control

    A. Evaluates organisational structures and governance to protect the long-term interests of stakeholders.

    B. Recommends appropriate strategies to ensure adherence to governance structures and application of best practice internal controls.

    C. Identifies and manages risk appropriately.

    D. Uses risk management for the best interests of an organisation and its stakeholders.

    E. Monitors and applies relevant legislation, policies and procedures.

  • Leadership and management

    A. Applies appropriate leadership strategies to effectively deliver business objectives.

    B. Leads, motivates and manages people to optimise performance and effectiveness.

    C. Collaborates, supports and works to achieve the objectives of the organisation, applying appropriate digital technologies.

    D. Acts proactively and thinks strategically, in anticipating organisational needs, recognising the wider business environment and dynamics.

  • Management accounting

    A. Applies development and performance management, in the wider business and technological environment, within the context of strategic planning and implementation.

    B. Directs organisational performance through the selection and measurement of financial and non-financial performance indicators.

    C. Collaborates on the key tactical and organisational areas of budgeting and control, capital investments, people and resource management.

    D. Consults on the design and use of current and emerging technology and information systems to improve strategic decision-making and organisational performance.

  • Stakeholder relationship management

    A. Positively develops relationships with internal and external stakeholders.

    B. Communicates and gains commitment from internal and external stakeholder.

    C. Uses emerging technologies to collaborate and communicate effectively with stakeholders.

    D. Applies professional and ethical judgement when engaging with stakeholders.

    E. Aligns organisational strategic objectives with stakeholder needs and manages expectations.

  • Strategy and innovation

    A. Applies business acumen and commercial awareness to deliver business objectives.

    B. Recommends a range of suitable strategic options from which to develop sustainable plans and objectives.

    C. Evaluates, justifies and implements suitable strategic options.

    D. Adopts and applies innovative methods to implement strategy and manages change.



  • Taxation

    A. Communicates knowledge of the operation and scope of the tax system, obligations of taxpayers, and the implications of non-compliance and advises on tax planning.

    B. Advises ethically on strategic tax plans and computes the tax liabilities of individuals.

    C. Advises ethically on strategic tax plans and computes the corporation tax liabilities of individual companies and groups of companies.

    D. Explains and computes the effects of value added tax (VAT) / goods and services tax (GST) and indirect tax on incorporated and unincorporated businesses and advises appropriately.