What do the different apprenticeship levels mean and what type of roles would be carried out at the different levels?
- Level 2 apprenticeship – this is an equivalent qualification to GCSEs. With the Level 2 Business Administration Apprenticeship being scrapped in 2020, the Level 2 Accounts/Finance Assistant Apprenticeship is an excellent way to begin a career in business or accounting, with the programme providing a great way to learn admin, accounting, and business-related skills. This level deals with the processing of day-to-day business transactions up to an initial trial balance. Typical roles which are applicable to a Level 2 apprenticeship include an accounts assistant, finance assistant, business administrator, sale ledger clerk, etc.
- Level 3 apprenticeship – this is equivalent to A-Level qualifications. It takes apprentices up to a simple Balance Sheet and Profit & Loss Account, VAT, and covers the principles of costing in some depth. The type of roles that would be carried out on a Level 3 apprenticeship includes assistant accountant and trainee accounting technician.
- Level 4 apprenticeship – also regarded as an equivalent to a foundation degree. It covers the preparation of company accounts and also budgeting, forecasts, variance analysis, and simple investment appraisal. Optional units can include personal and business taxation, auditing, credit management and cash & treasury management. Level 4 job roles would typically include accounts senior, accounts manager or accounts technician.
- Level 7 apprenticeship – the highest level of accounting apprenticeship is equivalent to obtaining a degree. At this level, apprentices would usually be working as a senior manager with a view to becoming partners of the firm in the future.
