Assistant Accountant Apprenticeship

The primary role of an assistant accountant is to provide support to internal and external customers and will work within a practice or the finance function of an organisation. Part of their role will involve assisting in the day-to-day financial activities such as data entry to month-end management accounts and/or year-end financial statements. In addition the assistant accountant may find themselves involved in regulatory financial requirements such as the completion of VAT returns or assisting in the preparation of tax computations.

This apprenticeship standard is at Level 3, the current entry level for accounting. The funding available will allow students to achieve the Advanced Diploma in Accounting as their on-programme learning, if the training provider and employer feel this is appropriate.

Information for Applicants

The Assistant Accountant Apprenticeship will consist of:

  • Basic book keeping and using accounting software,
  • Then a range of complex accounting tasks;
  • Maintaining cost accounting records and preparation of reports and returns.
  • Accounting disciplines including financial processes
  • Advanced bookkeeping
  • Final accounts
  • Ethical practices for accountants.

What are the entry requirements?

Apprentices will need to be employed for a minimum of 30 hours in a suitable work placement. Individual employers will set the selection criteria, but this is likely to 5 GCSE’s which will include English and Maths or other relevant qualifications; relevant experience and/or an aptitude test with a focus on functional English and maths.

How often do I have to attend college?

College attendance of 6 hours weekly for a teaching session will be required over the 18 months of the course.

How will I be assessed?

Regular progress reviews throughout the programme which will also include your employer

The end point assessment will consist of two parts.

Part 1: an online assessment, giving the opportunity to tackle a series of business-related tasks through simulation in line with typical role activities.

Part 2: a review of the portfolio of evidence. This will be used to demonstrate competence in the knowledge, skills and behaviors defined within the standard. Evidence for this element will be gathered from the workplace during the on programme learning.  As an apprentice you will be required to reflect on their portfolio of evidence through a professional discussion.

What can I do next?

Successful candidates may progress onto a higher apprenticeship as a Professional accounting taxation technician.

Information for Employers

How is my business going to benefit from an Apprentice?

Fill your skills gaps: an Apprentice’s training is tailored to your organisation’s needs, resulting in a loyal, motivated work force Increase productivity by developing staff skills and expertise Value for money: a cost effective way to attract new talent and fresh eyes into your organisation Cost saving: we can advertise your vacancies and recruit the best candidates for your needs.

How can I fit this apprentice into my business?

Typical job roles this standard can apply to within

 Assistant Accountant / Trainee Accounting Technician / Accounts Clerk / Cashier / Finance Assistant / Purchase Ledger Clerk / Sales Ledger Clerk

As well as ensuring full competency on completion as an Assistant Accountant, this standard provides the foundation for progression into a number of career paths in the Accounting sector including Audit Trainee, Corporate Recovery Analyst, Credit Controller or Tax Accountant.

An industry recognised professional qualification AAT Advanced Diploma can be built into the course which your apprentice will bring back to the business, providing value for money and a return on investment in their career as well as bringing back up to date knowledge from college.

What will this cost my business?

Since April 2017 the way that government funds apprenticeships in England has changed. All businesses operating within the UK with a wage bill of over £3 million are required to contribute to the apprenticeship levy monthly via HMRC.

  • If the levy applies to your business you will be required to pay 0.5% of your entire wage bill into the levy. This will be offset against a levy allowance worth £15,000 for each tax year
  • You will only be able to use your levy payment for government backed apprenticeships through providers who are registered on the Register of Apprenticeship Training Providers
  • Levy payments will expire after 18 months.

From April 2017 all existing apprenticeship frameworks and new apprenticeship standards (often referred to as trailblazer standards) will be allocated to Government funding bands.

Funding bands determine the maximum amount of money that Government will contribute for the training delivery and end-point assessment of each apprenticeship. All approved apprenticeship standards have already been allocated to funding bandings with maximum funding caps.

If you take on an apprentice who is between 16 and 18 years old at the start of their apprenticeship, you will receive a payment to help meet the extra costs of employing them. This will be paid to you through the training provider in two £500 instalments at 3 months and 12 months  if the apprentice continues in learning beyond this point.

Non-levy paying employers will need to contribute 10% of the maximum funding band as published by the Skills Funding Agency for the delivery of training and assessment for their apprenticeship. Levy paying employers will pay the full cost of the agreed funding band using their Digital Apprenticeship account. Where there are no longer funds in this digital account the Government will co-invest 90% of the funding with the levy paying employer being the asked to contribute the remaining 10% on a monthly basis.

Levy paying employers can estimate their funding contributions through the use of the free Funding Apprenticeship Systems calculating tool.

The agreed funds will be taken from the employer’s digital account to pay the training provider, up to a maximum amount of funding allocated by Government to that particular apprenticeship.

For non-levy paying employers the Digital Apprenticeship Service will not be available until at least 2018. They will need to discuss and agree a price with their training provider.

Does the apprentice have to attend college?

College attendance of 6 hours weekly for a teaching session will be required over the 18 months of the course.

How is the apprentice assessed?

Regular progress reviews throughout the programme which will also include you as the employer

The end point assessment will consist of two parts.

Part 1: an online assessment, giving the opportunity to tackle a series of business-related tasks through simulation in line with typical role activities.

Part 2: a review of the portfolio of evidence. This will be used to demonstrate competence in the knowledge, skills and behaviors defined within the standard. Evidence for this element will be gathered from the workplace during the on programme learning.  As an apprentice they will be required to reflect on their portfolio of evidence through a professional discussion.

What about support in the workplace?

Skilled and knowledgeable staff must be available to support the apprentice as they complete work- based tasks and build a portfolio.

Why should I choose Colchester Institute to support my recruitment and retention?

Apprenticeships – What we can offer

Colchester Institute is the largest college provider of apprenticeships in Greater Essex. We are expert at connecting the right people, to the right training, to the right business and when it comes to Apprenticeships, our Apprenticeship Advisors can support your business every step of the way.

As part of our service we can support your business with:

  • Advertising the Apprenticeship vacancy
  • Manage the applications received in line with your individual requirements
  • Match prospective candidates already known to us
  • Conduct initial pre-screening for candidates
  • Carry out visits to your premises alongside regular reviews to support you, your staff and your apprentice
  • Advice on any grants or funding where available

Our team will provide:

  • A fee free recruitment service.
  • Personal 1:1 Apprenticeship Levy advice and guidance.
  • A dedicated Account Manager.
  • Industry experienced, professional, technical tutors.
  • Bespoke programmes available upon request.
  • An Essex priority skills focus.
  • Free employer events.

Apprenticeship Reform Events

Assistant Accountant Apprenticeship Standard
Outline: Provides support to internal and external customers, working within a practice or the finance function of an organisation.
LevelLevel 3
LocationColchester
DurationApproximately 46 weeks
CampusColchester Institute
Start DateEmployment as an apprentice can occur throughout the year however the start-date for attending college for training, where required, will be communicated post-employment and sign-up
Fee(s)Employer Contribution Fee: £900
Apprenticeship Funding Bands

Apprenticeship Funding Bands
Employers with less than 50 employees who are recruiting an apprentice aged 16-18 years old will not be required to pay the contribution fee.
Any associated cost to the individual will be made clear at the interview.

AAT membership and books will be discussed at interview. Membership of the AAT is compulsory and an additional fee applies.

CI Business Solutions

Disclaimer

All Fees and prices shown on the website are for courses starting in the 2018-19 academic year unless stated otherwise, and are correct at the time of entering/printing information, however these may be subject to change. The College cannot accept legal or financial liability as a result of any such changes.

The course information describes programmes offered by Colchester Institute. The College takes all reasonable steps to provide courses as described, but cannot guarantee provision. The information is for guidance and does not form any part of a contract.

The College reserves the right to update and amend information as and when necessary. Colchester Institute will do its best to provide the courses shown, but may have to modify or withdraw a course depending on customer demand and other factors.