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Finance

The finance department is all about managing money and making sure everything adds up correctly at the end of the day. This involves keeping track of all the money that comes in and goes out, making budgets, and planning how the company can save or spend its money wisely. The finance team also provides guidance and advice on financial decisions and addresses any inquiries regarding the company’s finances.

Working in the finance department can involve everything from processing payments in and out of the organisation to helping plan for big projects that need a lot of money. Many finance jobs offer the flexibility to work from different places, and even the option to work from home, making it a great choice if you’re good with numbers and planning.

Why people love working in finance

Problem solving

Finance is great for people who like problem solving. It’s like a big puzzle where you figure out how to manage money. You might work out how to save more, spend wisely, or look at numbers to help a company decide what it can afford. It’s fun for those who love solving tricky problems.

Making a difference

People who work in finance help make big decisions for a company. They look at all the financial information and help the company’s bosses decide where and how to spend money to make the business better. It feels great to know your work really matters.

Fast paced

Working in finance is never boring because things are always changing. There are new ways to handle money, new rules, or different things happening in the world that affect how money needs to be managed. If you like fast-paced and exciting work, finance is full of that!

Great career options

There are great career options in finance and they usually pay really well. As you get better at your job and learn more, you can earn more money, which is a pretty nice benefit.

Variety

Money matters everywhere, so knowing about finance can let you work in lots of different types of organisations. There are multiple ways that finance can help a company from investing to financial accounting to financial planning.

Study options

In finance, there’s always more to learn, and many people in finance keep studying to get more qualifications. This keeps the job interesting because you’re always learning new things, which makes you even better at your job.

Some of the key job roles within a finance department/company

Chief financial officer (CFO)

A chief financial officer (CFO) is the most senior finance professional in a company, responsible for managing financial strategy and ensuring the business remains profitable and financially stable. Daily tasks include overseeing budgets, managing financial risks, reviewing investment opportunities, and making strategic decisions on cost control and growth. CFOs also liaise with investors, board members, and senior executives.

This role suits someone with strong leadership skills, strategic thinking, and a deep understanding of financial planning.

Scorecard

Salary Potential*

£70,000 - £120,000

Flexible Hours

Physical Location

Physicality

*based on a 40-hour working week

Financial accountant

A financial accountant manages the company’s financial records, ensuring every transaction is accurately recorded and reported. Their daily tasks include preparing financial statements, tracking income and expenses, reconciling accounts, and ensuring compliance with financial regulations. They often work closely with auditors and tax professionals.

This role suits someone who is detail-oriented, highly organised, and enjoys working with numbers to ensure the company’s finances are in order.

Scorecard

Salary Potential*

£30,000 - £45,000

Flexible Hours

Flexible Location

Physicality

*based on a 40-hour working week

Management accountant

A management accountant focuses on forward-looking financial planning, helping the company make informed decisions about future spending and investments. Daily responsibilities include creating financial reports, analysing costs, preparing budgets, and advising managers on cost-saving measures. They often work across departments to provide financial insights that support business growth.

This role suits analytical thinkers who enjoy problem-solving and influencing strategic decisions through data-driven insights.

Scorecard

Salary Potential*

£30,000 - £50,000

Flexible Hourse

Flexible Location

Physicality

*based on a 40-hour working week

Accounts payable & accounts receivable clerks

Accounts payable clerks ensure that all company expenses, such as supplier invoices and utility bills, are paid on time, while accounts receivable clerks track money owed to the company and ensure timely payments from customers. Daily tasks include processing invoices, reconciling payments, chasing overdue accounts, and maintaining financial records.

These roles suit individuals who are organised, have strong attention to detail, and enjoy working with numbers and deadlines.

Scorecard

Salary Potential*

£20,000 - £28,000

Flexible Hours

Flexible Location

Physicality

*based on a 40-hour working week

Credit controller

A credit controller manages the company’s credit system, ensuring that customers who buy on credit pay their invoices on time. They assess the creditworthiness of customers, set credit limits, chase overdue payments, and reduce financial risk. Their role is crucial in maintaining cash flow and minimising bad debt.

This job suits individuals with excellent negotiation skills, persistence, and the ability to build positive relationships with customers while enforcing payment terms.

Scorecard

Salary Potential*

£25,000 - £35,000

Flexible Hours

Flexible Location

Physicality

*based on a 40-hour working week

Payroll manager

A payroll manager ensures that all employees are paid correctly and on time. They manage salaries, bonuses, deductions, and tax compliance while handling payroll software and responding to employee queries. They also ensure that the company meets employment tax obligations and regulatory requirements.

This role is ideal for individuals with strong attention to detail, excellent numerical skills, and a solid understanding of employment laws and taxation.

Scorecard

Salary Potential*

£30,000 - £45,000

Flexible Hours

Flexible Location

Physicality

*based on a 40-hour working week

Financial analyst

A financial analyst examines financial data to provide insights and recommendations that help improve company performance. Their daily tasks include analysing trends, forecasting revenue and expenses, preparing reports, and advising on investment opportunities. They play a key role in strategic planning and decision-making.

This role suits individuals who enjoy working with data, have strong problem-solving skills, and can translate complex financial information into actionable insights.

Scorecard

Salary Potential*

£35,000 - £50,000

Flexible Hours

Flexible Location

Physicality

*based on a 40-hour working week

Tax accountant

A tax accountant specialises in preparing and managing the company’s tax obligations. They ensure compliance with tax laws, file tax returns, and identify ways to legally reduce the company’s tax burden through deductions and incentives. Daily tasks include researching tax regulations, advising on tax-efficient strategies, and ensuring accurate reporting.

This role suits detail-oriented individuals with strong analytical skills and a deep knowledge of tax legislation.

Scorecard

Salary Potential*

£35,000 - £55,000

Flexible Hours

Flexible Location

Physicality

*based on a 40-hour working week

Auditor

An auditor reviews a company’s financial records and processes to ensure accuracy, compliance, and efficiency. They identify financial risks, check for errors or fraud, and recommend improvements in financial controls. Their daily tasks include conducting audits, reviewing transactions, and advising on financial best practices.

This role suits individuals who are investigative, detail-focused, and enjoy ensuring financial integrity and accountability.

Scorecard

Salary Potential*

£30,000 - £50,000

Flexible Hours

Flexible Location

Physicality

*based on a 40-hour working week

Key skills and attributes needed

Numerical proficiency

Problem-solving skills

Attention to detail

Decision-making skills

Effective communication skills

IT proficiency

Specialisms within finance

Financial planning & analysis (FP&A)

Helping companies make smart decisions by analysing their money and financial data to improve how they operate.

Treasury management

Managing a company’s money, investments, and risks to make sure they have enough cash and are financially stable.

Corporate finance

Working on big financial deals, like buying other companies or raising money for business growth.

Tax advisory

Giving advice on how to handle taxes in the best way possible to save money and follow the rules.

Audit & assurance

Checking a company’s financial records to make sure everything is accurate and follows the law.

Risk management

Finding and reducing financial risks to keep the company’s money safe.

Investment banking

Helping companies with major financial transactions, like raising money or merging with other businesses.

Wealth management

Advising wealthy people on how to manage their money, invest wisely, and plan for the future.

Forensic accounting

Investigating financial records to find and solve cases of fraud or theft.

Credit analysis

Assessing if people or companies are good candidates for loans and helping decide if they should be given credit.

Compliance & regulatory affairs

Ensuring that a company follows all financial laws and regulations to avoid legal trouble.

Financial technology (FinTech) specialist

Using new technology to improve financial services, like mobile banking and digital payments.

Entry path into a career in finance

Getting into a finance role in the UK typically involves strong GCSEs and A-levels in subjects like maths and economics although a degree in finance, accounting, or a related field is sometimes preferred.

However, alternative routes like AAT qualifications, apprenticeships, or school leaver programs offer entry without a degree, and advanced qualifications like ACCA or CIMA can enhance career prospects.

Apprenticeships are available at various levels, from Level 2 to Level 7, and are open to individuals of any age and at any stage in their career, offering flexible opportunities for professional growth and development.

Gaining relevant experience through internships, part-time roles, or graduate schemes can also be crucial.

We’ve included a snapshot of relevant courses that might be suitable for you.

Further education courses

GCSEs

  • English
  • Maths
  • Business Studies
  • Finance
  • Economics
  • Statistics

A-levels

  • English
  • Maths
  • Business Studies
  • Finance
  • Economics
  • Statistics
  • Accounting

T-levels

  • Management & Administration
  • Accountancy
  • Finance

Apprenticeship standards

  • Accountancy
  • Advanced Credit Controller
  • Business Administration
  • Financial Advisor
  • Assistant Accountant
  • Finance Assistant
  • Professional Accounting or Taxation Technician Apprenticeship
  • Professional Accounting Technician

College courses

Level 1, 2, 3, 4 courses in

  • Business Administration
  • Business Enterprise
  • AAT Book Keeping
  • AAT Accounting
  • Computerised Accounting
  • Computer Accounts Using Sage Cloud

University courses

  • BA (Hons) Business Finance
  • BA (Hons) Accountancy & Finance
  • BA (Hons) Banking & Finance
  • BSc Economic and Finance
  • BSc Applied Accounting
  • MSc Accounting and Finance
  • MSc International Business
  • MSc Professional Accounting

Professional courses

ACCA Foundation Certificates in Accountancy Financial and Management Accounting;  Accounting and Business;  Certified Accounting Technician; Taxation; Financial Management; Audit;  Global MBA; Business Analytics; International Reporting; Data Analytics; Digital Innovation for Finance; FinTech for Finance and Business Leaders, Public Financial Management; Certificate in Integrated Reporting;

 

CIMA Certificates in Fundamentals of Business Economics; Fundamentals of Management Accounting; Fundamentals of Business Accounting; Fundamentals of Financial Accounting; Fundamentals of Ethics, Corporate Governance and Business Law; Managing Finance in a Digital World.

 

CIMA Professional Qualifications in Managing Finance in a Digital World; Management Accounting; Financial Reporting; Advanced Management Accounting; Advanced Financial Reporting; Strategic Management; Risk Management; Financial Strategy.

 

ACA Qualification. Subjects studied Accounting; Management Information; Business, Technology and Finance; Assurance; Principles of Taxation; Law; Financial Accounting and Reporting; Business Planning; Business, Strategy and Technology ; Audit and Assurance; Tax Compliance; Financial Management; Corporate Reporting and Strategic Business Management.

 

AAT online courses

  • Accountancy
  • Advanced Credit Controller
  • Business Administration
  • Financial Advisor
  • Assistant Accountant
  • Finance Assistant
  • Professional Accounting or Taxation Technician Apprenticeship
  • Professional Accounting Technician

For more information about skills and training in Lincolnshire click here.

Professional Associations

Chartered Institute of Management Accountants (CIMA) – https://www.aicpa-cima.com/home

Association of Chartered Certified Accountants (ACCA) – https://www.accaglobal.com/uk/en.html

Chartered Institute of Public Finance and Accountancy (CIPFA) – https://www.cipfa.org/

Institute of Financial Accountants (IFA) – https://www.ifa.org.uk/

Chartered Financial Analyst (CFA) UK – https://www.cfauk.org/

Institute of Chartered Accountants in England and Wales (ICAEW) – https://www.icaew.com/

Association of Accounting Technicians (AAT) – https://www.aat.org.uk/