Accountants in Isle of Man

1

• 123 Accountancy Services
•  
•  
•  
•  
•  
•  
•  

2

• Designation
• The designation of an
  Accounting Technician is supported by their
  Association in the United Kingdom (AAT). This
  designation together with that of Chartered
  Accountant is used primarily in the United
  Kingdom, although the title is sometimes seen in
  the United States. Here, a comparable occupation
  would be a professionally trained bookkeeper or
  accounting clerk. A comparable United States
  certificate to the AAT is awarded by the American
  Institute of Professional Bookkeepers (AIPB).
  Have a look at Accountants in Isle of Man for
  more info on this.

3

• Profile
• Accounting
  technicians are required to produce entry level
  accounting work in accounting or finance
  departments. Their focus should be relative to
  data entry, accounts receivable, accounts payable
  and payroll. In many offices, they act as office
  managers for generally small companies, as it is
  considered beneficial to have an office manager
  with a firm understanding of accounting
  principals. There are also many accounting
  technicians who have supervisory positions over
  personnel without degrees, or clerk-level
  accounting staff. Similar positions of
  responsibility to an accounting technician are an
  accounting clerk or bookkeeper, office manager
  and accounting analyst.

4

• Functions
• The functions relating
  to this position involve aspects of accounts
  payable, to classify and record bills, vendor
  invoices and liabilities. With regard to the
  accounts receivable department, they will record
  invoices, payments and produce aging reports on
  receivables. Their roll in the payroll
  department, will involve payroll figures and
  liabilities, together with tax with-holdings,
  reports runs and preparation of the of the
  payroll cheque runs. You may want to check out
  Accounts in Isle of Man for more.

5

• Additional Functions
• Further focus is needed on
  data entry, the checking for errors and account
  reconciliations. As the work is of a repetitive
  nature, dedicated attention to detail is
  required! They are relied upon to discover and
  correct accounting errors, generally caused by
  mistakes in data entry. This calls for an
  analytical mind, which is a requirement in a
  proficient Accounting Technician. It is also
  required that he or she carries out basic audit
  functions. They may be responsible for the
  monitoring of payable and receivable accounts,
  bank deposits and balances and for the perceiving
  of any irregularities. In addition, they are
  accountable for the maintaining of proper
  separation of duties and the procedures related
  to internal control. As and when any irregularity
  is discovered, then it is generally their
  perogative to initiate an investigation.

6

• Required Knowledge
• Generally, financial statements
  are prepared by professional or accountants who
  have degrees, as part of their responsibilities.
  Although Accounting Technicians are rarely
  engaged in the preparation and analysis of
  financial statements, they must be familiar with
  the process of the creation of them and from
  which accounts the data originated? This does
  assist them in the coding and entering of
  transactional data, as well as the discovery and
  correction of any errors, in the event of an
  unbalance.

7

General Account Technicians
generally commence working in a support role at a
firm of accountants. Alternatively, it may be
within the accounts or finance departments or
sections, of commercial organisations',
industrial companies or the public sector.
Whatever their choice, there is work available
for them in all areas of the financial world.
There are independent opportunities in the
business environment for experienced Account
Technicians. It could be as a self employed
provider of a variety of accountancy related
services, to the many small and medium business
owners, who either cannot or do not wish to
employ a permanent accountant.
8

• Summary
• 123 Accountancy Services is
  managed by Denise Dowling, Denise brings with her
  over 20 years experience of working in
  accountancy and bookkeeping. They can help your
  business by monitoring your expenditure and
  providing you with regular updates in regards to
  your budgeting.
• Visit this site to learn more
• http//www.123accountancyservices.co.uk/