Overview

Our Work Placement program is designed to provide learners with invaluable, hands-on experience in an accounting or finance-related role. Through this module, you’ll have the opportunity to apply your knowledge of bookkeeping, payroll, VAT, and financial management in a professional environment. The experience will help you develop essential workplace skills, including communication, teamwork, and problem-solving while building a strong foundation for a career in finance.

Learning Objectives

By the end of your placement, you will have gained the ability to:

• Apply accounting principles in real-world situations.
• Perform core accounting tasks, from processing invoices to preparing financial statements.
• Use industry-standard accounting software to handle payroll, VAT returns, and financial records.
• Communicate effectively with clients, colleagues, and stakeholders.
• Ensure compliance with accounting standards and regulations.
• Prioritise and manage tasks efficiently in a busy work environment.
• Gain exposure to a range of financial processes, including reconciliations, tax submissions, and payroll management.

Work Placement Structure

1. Introduction & Orientation

   • Overview of the company’s finance department and processes.
   • Introduction to team members and stakeholders.
   • Health and safety briefing.

2. Bookkeeping & Financial Record-Keeping

   • Maintain accounts payable and receivable ledgers.
   • Process invoices, payments, and receipts.
   • Record transactions using accounting software like Sage, QuickBooks, or Xero.
   • Assist with petty cash management.

3. VAT Returns & Compliance

   • Prepare VAT returns and maintain accurate records.
   • Understand VAT reporting schedules and deadlines.
   • Apply VAT schemes with supervision.

4. Payroll Processing

   • Assist in payroll calculations and processing.
   • Handle statutory deductions (e.g., National Insurance, PAYE).
   • Generate payslips and manage payroll records.

5. Bank Reconciliation

   • Reconcile bank statements with financial records.
   • Identify and resolve discrepancies.
   • Support month-end and year-end reconciliation processes.

6. Preparation of Financial Statements

   • Assist with preparing profit and loss statements, balance sheets, and cash flow statements.
   • Contribute to trial balance preparation and audits.

7. Software Training

   • Gain hands-on experience with leading accounting software.
   • Manage digital records in line with Making Tax Digital (MTD) regulations.
   • Generate financial reports for analysis.

8. Compliance & Ethical Standards

   • Ensure accuracy and compliance in all financial activities.
   • Adhere to ethical standards in financial reporting and auditing.

9. Progress Review & Feedback

   • Regular feedback sessions with a supervisor.
   • Reflect on your progress and set goals for improvement.
   • Receive mentorship to enhance your professional competencies.

Assessment & Certification

Upon completing the work placement, you will:

• Maintain a reflective journal documenting your experience.
• Receive detailed feedback from your supervisor.
• Present a final report summarising your tasks, skills gained, and knowledge acquired.
• Earn a certification, marking your readiness for entry-level roles in finance, bookkeeping, and accounting.