Accountancy Practice Jobs vs Accountancy Jobs In Industry

What are the key differences between accountancy jobs in practice and accountancy jobs in industry? These differences are something that a huge number of recruiters fail to differentiate between, but, are absolutely key for anybody working with or recruiting for the accounting industry.

The variances between the two are different depending on what type of role you are in or looking for. One key factor to realise is that nine times out of ten, accountancy practices need or want to hire accountants with practice experience. When recruiting for an established or growing accountancy practice it is often required to find somebody who is capable with dealing with multiple clients and multiple, often very different requirements and scenarios. There is an important relationship building side of the role which is just as crucial as filing your client’s tax return on time.

In practice, your advice is what your clients are coming to you for. They are wanting you to look at their business and offer suitable advice dependent on their business. This can be a very different skill as you will often have clients who vary massively. Some of your clients may be independent contractor's were some of your clients may be £20m turnover SMEs. Your range of day to day knowledge of needs to be broader that say a mid range role in industry.

You often see that well trained and experienced ACA practice accountants are highly sought after for industry based positions in a huge plethora of industries. Often finance directors want dynamic ACA practice accountants who can add their skills to an existing team. A recent study showed that over 25% of Finance Directors reported to have initially had a practice background.

The transition from industry to practice is certainly less common and often earning potentials can also hinder the possibility of this.