What’s the Difference between Accounting and Finance Apprenticeships?

Posted by: Mia Lewis Post Date: 13th December 2017

For those with a love of pi, percentages and perpendicular angles, there are several apprenticeship avenues to go down that would cater to your love of numbers. But with so much choice it can be a struggle to know which specific apprenticeship would be better suited for you – something in accounting, or finance?

What do accounting apprenticeships involve?

What's the difference between finance and accounting

Just as it says on the tin; accounting apprenticeships are ideal for those wanting to take their skills to the next level and become an accountant. Despite still being in training, your day-to-day tasks will include raising purchase orders, coding, and filing invoices. There are three different levels of accounting apprenticeship available: Foundation, Advanced and Professional; all of which will earn you an internationally recognised AAT qualification upon completion. The higher levels will present more responsibility, such as evaluating a business’s financial performance and providing critical information to the rest of the business.

Daniel InglisAAT Apprentice

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What do finance apprenticeships involve?

Unlike the accounting side, an apprenticeship in financial services presents a variety of career paths to choose from. The programmes offered by Babington, include:

  • Financial Admin Apprenticeships – This is an administration role in a finance environment, where you will build an essential foundation of financial knowledge and practical skills.
  • Insurance Apprenticeships – This may involve investigating and settling insurance claims. You may also choose to develop on the broking and underwriting pathways.
  • Mortgage Advisor Apprenticeships – This is an essential step to becoming a mortgage advisor, giving you the confidence to explain complex issues with clarity and experience.

The qualifications earnt through these apprenticeships include the Chartered Insurance Institute (CII) or a Certificate in Mortgage Advice and Practice (CeMAP).

Georgia AttwoodCII apprentice

Different career choices

With apprenticeships in both accounting and finance, there are various job roles that would be available to you upon completing the qualification. The accountancy positions will depend upon which level you complete, but examples of job roles include:

  • Payroll supervisor
  • Audit trainee
  • VAT accountant

Roles in finance will also depend upon which apprenticeship you decide to take, but examples include:

  • Insurance broker
  • Mortgage paraplanner
  • Financial advisor

Hopefully, this will have helped you to decide which pathway you’d like to take, as you choose an ideal career for you.

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