Public finance accountant jobs

Consider working as a certified public finance accountant if you are able to think in a logical manner, appreciate the challenge of solving problems, and have an understanding of public policy and finances.

As a certified public finance accountant, one of your primary responsibilities will be to ensure the efficient functioning of accounting and financial operations in organizations that fall within the purview of the public sector. You are entrusted with the responsibility of ensuring that tax dollars are used in an appropriate manner.

In most cases, public finance accountants are employed by public authorities, such as national and municipal governments, as well as charities and other organizations that get public funding. In addition, they collaborate with the military, the police, and the National Health Service. On the other hand, an increasing number are also working in private sector or for accounting companies.

The reporting and management of financial matters will be your primary responsibility. When it comes to analyzing financial systems and determining how efficient they are, roles in private sector organizations that provide their services to the public or not-for-profit sector on a consulting basis tend to place a greater emphasis than on the central accounting tasks.

Responsibilities

Your duties may consist of the following:

creating and administering rules and mechanisms for the management of financial resources

guaranteeing the efficient administration of public funds by contributing to the formulation and execution of policy goals in order to provide assistance

using information pertaining to financial management in order to arrive at financial judgments and provide advice to important entities and people, such as management boards and budget holders

putting together and keeping an eye on various budgets and accounts

Keeping a handle on both expenditures and cash flow

performing duties related to financial administration

putting up reports for the auditor on yearly accounts and information on the budget

retaining complete command over the departmental operating and capital expenditure budgets

analyzing and providing recommendations on budget projections for project finance and ongoing operational expenses

preparing suggestions on large-scale projects

checking to see that the funds has been dispersed appropriately

doing internal audits, such as working on salary evaluations, among other things

reviewing the bills sent by creditors

Customers are charged for the services they get.

coordinating interactions with upper management, coworkers, and customers

checking the correctness of financial accounts and records to ensure they are accurate

the process of weighing the expenditures of various public services against the revenues generated

maintaining a level of familiarity with recent changes in the financial and management accounting procedures of the public sector

When hired at a senior level, one of their responsibilities will be managing and training personnel.

Salary

Beginning salaries normally range from £20,000 to £35,000 for new hires. After you have completed the necessary training, you may anticipate a bump in pay anywhere from 35,000 to 50,000 pounds.

Chartered public finance accountants may anticipate earning between £50,000 and £70,000 if they have more than five years of post-qualification experience under their belts.

There is the possibility to earn much more in some situations, which might result in a salary that is far more than £80,000.

The exact compensation rates might vary significantly based on the company, the region, the amount of experience, and the level of responsibility. The majority of companies provide their employees with additional perks, including stock options, bonuses, health insurance, pension contributions, and corporate automobiles.

The monetary amounts listed are just meant to serve as a reference point.

Time spent working

Monday through Friday, the typical workweek consists of somewhere between 35 and 40 hours of labor. Nevertheless, at the busiest seasons of the year, additional hours of labor are often necessary, which may include late evening and weekend shifts.

During training, you will be required to continue working while simultaneously studying, which calls for commitment, devotion, and hard hours.

After receiving a certification, options such as part-time work and job sharing may also be available.

What may be anticipated

Although the majority of the work may be completed in an office environment, there will be some travel involved for attendance at meetings. For example, if you operate in a consulting or auditing capacity, your position likely requires that you attend a large number of meetings and maintain close contact with clients and other essential individuals.

Even while there is not a lot of pressure to get the job done on a daily basis, there are times of the year, such as the conclusion of the fiscal year, that may be quite stressful. In addition, accepting full responsibility for the efficient administration of essential financial resources may be a challenging undertaking.

The proportion of men and women working in the profession is relatively equal, and there has been a recent uptick in the number of women entering the workforce.

For certain individuals with enough experience, working for yourself might be a viable option.

There are options to work on a freelance basis; however, this kind of job is more likely to be found for those who have previous expertise or who have retired. When the workload is extremely high in some fields, like audit work, businesses turn to independent contractors for help. Working as a freelancer requires you to spend a significant amount of time away from your desk and in a variety of workplace settings.

There are people looking for work in almost every region of the country, notably in the nation's cities and bigger towns.

The position offers the pleasure of working to assist frequently essential services provided by not-for-profit organizations and public sector organizations.

There are times when being away from home during the night is required, however going abroad is not very usual.

Qualifications

Chartered public finance accounting is available to all graduates, however employers often look for a bachelor's degree (with a 2:1 or better preferred) in one of the following fields:

One of the two: accounting or finance

either commercial or managerial

economics

mathematics

Politics, governance, or the management of public affairs

Entrants with appropriate degrees will be excused from the certificate level of the Chartered Institute of Public Finance & Accountancy (CIPFA) Professional Qualification. This is true despite the fact that any degree topic has the potential to be approved.

A higher education diploma (HND) in one of the following areas might help improve your chances:

One of the two: accounting or finance

either commercial or managerial

Politics, governance, or the management of public affairs

A appropriate HND, in the same way as a degree does, will exempt the holder from the certificate level of the CIPFA qualification.

The entry-level academic requirement for the CIPFA certificate is a minimum of three GCSE passes (A to C or equivalent) and two A-level passes (A to C), with English and maths at any level. This requirement must be met in order to be considered for admission.

An NVQ/GNVQ at Level 3, or whatever the Scottish equivalent is, is required as the very minimum for vocational training.

The competition for traineeships is fierce, but once someone has their qualification, movement is not too difficult. Employers may come to your school to recruit candidates, or they may inform the careers services directly of any openings they have.

If you have a specific location in mind, it is in your best interest to look for relevant organizations in that area and submit your application to them directly. Discover organizations using means of:

Skills

You will need to demonstrate that:

numerical ability

superior abilities in both verbal and writing communication

attention to detail

teamworking skills

Skill in information technology

capabilities in analytic reasoning and problem solving

honesty in addition to a very high moral and ethical standard

an attitude that is well-motivated to react favorably to the challenges of the workplace, effectively blending working and professional training in some capacity.

Practice in the workplace

Although having prior experience is helpful, it is not required to enter the program.

On the other hand, it will be to your benefit to be conversant in a variety of settings and cultures, as well as to have a knowledge of the values and objectives of the public and not-for-profit sectors.

Find out more information on the many types of work experience and internships that are currently offered.

Employers

Employers who fall within this category include:

establishments dedicated to education

organizations in the medical field, such as the National Health Service (NHS)

charitable organizations and housing associations

both the national and the local government

auditing organizations at the national and district levels

law enforcement agencies

utilities bodies.

Numerous organizations are under the umbrella of the public sector. The phrase "public sector" is often used to refer to organizations that serve the general public, however these organizations do not necessarily have to be part of the public sector.

The provision of public services is often made possible by the collection of taxes; hence, the focus of labor is on minimizing expenses rather than maximizing profits.

Large companies in the private sector, as well as businesses in industry and commerce, often need the services of chartered public finance accountants. Some work for accounting companies, which offer a variety of services to organizations in the public sector, such as those in the healthcare industry, charitable organizations, and local and central governments. The following are the "big four":

Deloitte

EY

KPMG

PwC.

Additionally, the number of available jobs in specialized accounting and management consulting firms continues to expand. These organizations provide a variety of advising, consulting, and auditing services to clients in the public sector. A number of certified public finance accountants who have a significant amount of experience went on to establish themselves in private practice.