Stuck in a Rut

santino

Hi Guys. I just came across "boards" very recently and find it very informative and think queries are answered very well.

OK, Here's my story:

I am in my second year of an ACCA training contract with a very small accountancy practice (i.e. the boss, a receptionist and me). My problem is that I feel that I am doing exactly the same work as when I started nearly two years ago. I prepare VAT, reconcile bank statemants and reconcile supplier statements which I have to admit I enjoy doing but I have never finalised a set of accounts..which I find very frustrating. Recently the boss has added payroll and rct work to my list of duties and I absolutely hate it as it is not what I imagined I would be doing when I was in college.
It is a very busy office but the boss has interests further afield so he seems to neglect work in the office so he can focus more on this other work. It is then more or less left up to me to sort out alot of the problems that any of the clients may have. I get very stressed over this because I feel that I do not have the confidence and/or experience to deal with alot of these clients and I rarely can give them an answer. I'm sure this is frustrating for the client also and gives off a very unprofessional vibe.

Is this situation normal for trainees or am I over-reacting?

The CCAinsider

This is not normal, it is CV time. Lots of other practices are recruiting, find one with a good staff training programme and you existing experience will make you a shoe in. In your current job you may not get sufficient experience to become an ACCA member. Apply to the firms directly and use the list at "find an accountant" on www.accaglobal.com

santino

santino wrote: »

I prepare VAT, reconcile bank statemants and reconcile supplier statements which I have to admit I enjoy doing but I have never finalised a set of accounts

It is a very busy office but the boss has interests further afield so he seems to neglect work in the office so he can focus more on this other work.

So who IS finalising the financial statements?

There seems to be an opportunity there for you...you seem to know your way around a set of accounts, finalising them can be complex, but certainly not beyond your reach.

I would approach your boss, tell him of the situation, but bring him a solution rather than a problem! The solution is that with some training (internally or externally) you are willing to step up to the next level (ie finalising accounts).

If he is so caught up with outside ventures, surely he will see the benefit in this.

I would take this approach next, before thinking about moving firm.

Sticking with one training firm over the course of an ACCA/ACA contract always looks better on a CV than jumping from one to another.

eggie

Approach your boss and request extra training to enable you to provide a more efficient service to your clients and obviously to the practice. If you can deal with the majority of queries and provide even draft financials for your boss to review it will help both of you.

The main thing you need to look at here is the potential growth of the company and your employers attitude to that growth. If he reneges on offering you extra support to improve your academia, he obviously isnt looking at long tern benefits, i.e he is making more money on whatever else he is concentrating on and keeping this small practice as a back up. If the latter is the case I would move off to gain more in depth exposure, plus you will have a better support network for improving your own abilities.

Manofthewest

I would approach your boss before you make any other decisions. Finalising and reviewing a set of accounts if important to your training and is part of the elements required when applying for ACCA membership.

I know when I was training in a relatively small firm, that taking the inititive and going a little bit further then that was expected of you was always appreicated and looked good to your employer.

As a previous poster said look at this as an opportuntity to gain invaluable experience.. effectively running an office.

smcgiff

Some good advice so far.

When I was in practice it really depended on each individual how far they wanted to progress. I started preparing company accounts and passing to the manager relatively quickly, others were happy to prepare bank recs etc.

So, it looks as if you've the drive, but do you have the confidence to ask for more responsibility?

Where I would differ perhaps to some of the advice above is that I'd be less reticent about moving to another practice. If things don't improve, you can either stay or move on.

Good luck

santino

Thanks Guys. All very sound advice so far. I'm down to have a meeting with the boss in next 10 days (due to bank hols and all that). I'll give ye an update whenever I have news.

Thanks again.