What Are The Main Challenges for Accountancy Trainees? And How to Overcome Them.
Where there’s a will there’s a way! Nobody said accountancy would be easy (as Coldplay once said, I think).
Here at Accountancy Hub we will support you through any challenges you might face.
Becoming a qualified accountant is no easy task. You will need to be resilient, hard-working, ambitious and focussed. At Accountancy Hub we know that sometimes trainees need a bit more support to make that road to qualification a little bit smoother.
We think the main challenges of being an accountancy trainee are:
Juggling work and study: balancing work responsibilities with study commitments can be challenging. Apprentices in accountancy practices may encounter heavy workloads, especially during peak periods such as tax season or year-end audits. Managing to study and revise effectively around work and life committments can be difficult.
Professional development: if you have never been in a client-facing role before, building rapport with clients and effectively communicating financial information can be challenging. ‘Soft-skills’ around leading meetings and presenting complex information are often not very ‘soft’ at all and are crucial to successful client relationships. Developing interpersonal skills and confidence in client interactions is key.
Ethical dilemmas: accountancy and advisory roles involve handling sensitive financial or company information and adhering to ethical standards. Trainee accountants may encounter ethical dilemmas in their work, requiring them to make sound decisions while upholding professional integrity.
Feedback, sponsorship and mentorship: inadequate feedback or lack of mentorship/sponsorship can hinder a trainee accountant’s development and confidence. If a trainee does not see themselves in their leadership team and there is a lack of diverse role models, then it can be even more difficult to visualise progression in their firm and industry.
And here is what we think you (the trainees!) can do to overcome these challenges:
Time management and setting boundaries: get organised! Develop a study plan. Review your work calendar and flag to your people manager if you envisage long-working hours around exam times. Set boundaries so you are able to prioritise studying.
Shadowing and asking for stretch: at first, you can learn an awful lot through shadowing different kinds of meetings, including pitches. Ask if you can join a client pitch and learn at much as you can. Once your confidence has grown, why not ask if you can lead a meeting or part of a meeting?
Set an example of integrity: if you are faced with an ethical dilemma at work, remember that integrity is so important. Seek advice from individuals you trust (including confidential advice from your awarding body - they have helplines for this!). As difficult as it might be, you have to remember you have the weight of the accounting profession on your shoulders and need to set an example. It’s likely that being involved in dodgy dealings will bite you in the butt later down the line anyway.
Take ownership of your career: concerned about some feedback you’ve received? Ask for clarification or speak to your people manager about it. Don’t think you have adequate sponsorship or mentorship in your team? Where else might you be able to find this? Perhaps in another team, another firm, or even on the Accountancy Hub website!
Need support or advice? You can contact support@accountancyhub.co.uk and we will get back to you in less then 72 hours.
