Cardiff, UK - Differences between a Chartered Accountant and an Accountant discussed by Hayvenhursts Chartered Accountants

A Chartered Accountant gives you advice and trustworthy information about your businesses financial records and status. They can be involved in financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery and insolvency. They will support you with accounting systems and processes and will work alongside you and your business to drive your business forward, bringing skills of strategic forecasting along with expertise in finance, accountancy, auditing and taxation which is essential to each and every business in today’s climate.

CA stands for Chartered Accountant and it is one of the most coveted professional degrees in the world. To qualify as a Chartered Accountant, you qualify with a specialised bachelor’s degree in accounting, followed by a Certificate in the Theory of Accounting (CTA) which is offered as a postgraduate honours degree, or as a postgraduate diploma dependent on the university attended.

Chartered Accountants work in a wide spectrum of roles; financial controllers, directors through to chief executives. They work in a wide range of business sectors; Business and Industry, Financial Services, Practice, Public Sector, Private Sector, Private Equity and so on.

What is the difference between a Chartered Accountant and an Accountant?

A Chartered Accountant has to complete post-graduate honours or diploma degree and following this have had 3-year’s work experience alongside a Chartered Accountant expert who will mentor them through their 3-year work experience. Chartered are experts in the field of accounting, finance and business compared to an accountant which is more of a transactional financial role.

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A Chartered Accountant will have a membership in either the Institute of Chartered Accountants (ICAEW) or the Association of Chartered Certified Accountants (ACCA). These organisations only allow membership after the necessary financial and accountancy qualifications have been gained and after their 3-years of work experience has been undertaken.

In theory, anyone can call themselves an accountant if they have been on a basic accountancy course or diploma, regardless of the qualification and their experience. An accountant often specialises in one accountancy area such as; tax and VAT submissions or payroll which they transact in real-time compared to a Chartered Accountant who will give business advice and information for current and future financial aspects.

A Chartered Accountant will have a broad understanding of your business, its needs and how it can become more financially stable and profitable.

You can find out everything you need to know here: hayvenhursts.co.uk/accountancy-services/differences-between-a-chartered-accountant-and-an-accountant/

Contact us today on 02920 777 756 and we will answer any questions you have or we can arrange for one of our Chartered Accountant experts to call you or come out and see you at a time convenient to you.