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Financial manager: Training

Most financial managers are qualified, or part-qualified, accountants. To become qualified, you need to pass or be exempt from a series of professional examinations and undergo a period of practical training. Professional accountancy training will mostly be on the job, and you will study for your examinations on a part-time basis.

You may follow a structured graduate training scheme, which will give exposure to a range of different functions. This will enable you to move into a financial management role at a later date. You may also be asked to complete a training log or portfolio to show evidence of your training and experience.

Structured graduate training schemes are offered in large companies and in the public sector, although some financial managers gain their initial training in accountancy firms.

For full details of syllabuses, practical experience requirements, and exemptions from professional examinations, check the websites of the six major chartered accountancy bodies in the UK:

• ACCA (Association of Chartered Certified Accountants) ;
• Chartered Institute of Management Accountants (CIMA) ;
• Chartered Institute of Public Finance and Accountancy (CIPFA) ;
• Institute of Chartered Accountants in England and Wales (ICAEW) ;
• Institute of Chartered Accountants in Ireland (ICAI) ;
• Institute of Chartered Accountants of Scotland (ICAS) .

The decision on which professional qualification to study for is likely to be determined by your employer. It is therefore important to find out in advance which qualifications are supported by the employer, as well as the level of financial support, tuition and study leave provided.

AGCAS

Written by Andrew Leacy, AGCAS

Last updated:

February 2009

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