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Accounting finance manager

This apprenticeship is in development and is subject to change

Why is this apprenticeship not ready for delivery?

An apprenticeship is only available for delivery when both the standard and assessment plan is approved and a funding band (core government contribution) has been assigned to the standard.

How can I get involved?

If you'd like to get involved and contribute to the development of this apprenticeship, please read about developing standards and assessment plans. You can email the trailblazer contact using the details on this page.

Key information

  1. Status: In development
  2. Ticked Proposal approved
    Ticked Occupational standard approved
    Ticked End-point assessment plan approved
  3. Reference: ST1303
  4. Level: 6
  5. Degree: non-degree qualification
  6. Typical duration to gateway: 36 months
  7. Typical EPA period: 4 months
  8. Route: Legal, finance and accounting
  9. Date updated: 06/12/2022
  10. EQA provider: Office for Students
  11. Example progression routes:
  12. Review:

    This apprenticeship standard will be reviewed after three years

Print occupational standard

Details of the occupational standard

Occupation summary

This occupation is found in organisations of all sizes (small, medium, large, and global), in public, private, and third sectors. They generally work in the accounts/finance department of an organisation or a professional accountancy firm. The broad purpose of the occupation is to manage and implement accounting, finance systems and processes that support decision-making in-line with strategy by applying technical and technological knowledge and skills to all aspects of accounting and finance within an organisation. This may include: managing operations of the accounting/finance function; supporting senior management/other departments by providing timely financial information and reports; ensuring compliance with: internal controls, HMRC, legislation, regulations, ethical and professional codes; monitoring the efficient, effective, and economical, working of all systems using the most appropriate technology; problem-solving, making recommendations, and giving advice to internal or/and external clients. In their daily work, an employee in this occupation interacts with a wide range of internal and external stakeholders, including directors and senior managers, clients and customers, suppliers, lenders, government agencies, auditors, and other professionals. A typical day could include being in an office environment overseeing data entry, control account reconciliations, budgeting and forecasting, trend analysis, monthly, quarterly, yearly reporting, researching and recommending solutions for decision makers. An Accounting and Finance manager will work both independently as well as working in or leading teams. They play a pivotal role in bridging the gap between strategic and operational levels of an organisation by employing a broad range of knowledge and skills: technical, technological, and interpersonal. An employee in this occupation will be responsible for contributing to and implementing business plans and strategy, as decided upon by senior management, as well as managing the systems and operations used to realise them. This involves: overseeing operations, monitoring, analysing, and controlling systems and procedures, ensuring the efficient, economic, and effective use of resources; managing the budgetary process, analysing variances, researching and explaining change, and making recommendations; the monitoring and controlling of cash flows, spotting trends, and forecasting requirements; and will be involved in training and recruiting staff in line with strategy. They will conduct regular and detailed analysis of data and provide regular financial and management information as required by internal and external stakeholders.
In a larger organisation the Accounting and finance manager may report to a finance director (a professional accountant), whereas in a smaller organisation they could be the most senior technical specialist, reporting to a (non-technical) senior manager such as a chief executive. In a professional practice environment, they may report to a senior manager, director or partner.
Typically they will be responsible for the accounting and finance function and oversee the operations thereof. This may mean they lead a team of accounts, finance and tax technicians managing day to day operations as required.

Typical job titles include:

Accounting and finance manager Accounts manager Accounts semi-senior Accounts senior Company accountant Credit controller Finance manager Financial accountant Financial controller Reporting accountant Systems accountant

Occupation duties

Duty KSBs

Duty 1 Manage financial accounting, monitoring, and reporting systems, procedures, and internal controls in line with changes in technology including automation, artificial intelligence, cloud-based applications and making tax digital.

K1 K2 K3

S1 S2

B1 B4 B5 B6 B7

Duty 2 Analyse financial and non-financial data on competitors, stakeholders, and market trends, and make recommendations for future action.

K4 K5

S3 S4

B2 B3 B4 B7

Duty 3 Manage accounting and financial systems for cyber security and data integrity.

K6 K7

S5 S6

B1 B4

Duty 4 Ensure that all operations and systems are compliant with all relevant legislation, regulations, and codes of governance and professional ethics. Ensuring understanding of the duties and responsibilities of the Accounting and Finance Manager.

K8 K9

S7 S8

B5 B6

Duty 5 Conduct periodic accounting and finance reconciliations, reviews and evaluations to ensure records are accurate and resources are used efficiently, effectively and economically.

K10

S9

B1 B5

Duty 6 Manage the budgetary process, analyse variances, research and explain change, and make recommendations accordingly.

K11 K12

S10 S11

B1 B2 B3 B4

Duty 7 Proactively monitor, interpret, and control cash flows, spot trends and forecast requirements.

K13 K14

S12 S13

Duty 8 Collate and produce accurate financial and accounting management reports to specific deadlines and support internal managers or external clients to understand financial information to facilitate decision making.

K15 K16

S14 S15

B1 B2 B4

Duty 9 Oversee and manage the production of tax computations and returns for HMRC in line with making tax digital (MTD) and advise internal managers and external clients of their obligations.

K17 K18 K19 K20

S16 S17 S18 S19

B1 B3 B4 B6

Duty 10 Liaise with internal and external auditors to ensure annual monitoring and reporting requirements are satisfied.

K21

S20

B4

Duty 11 Contribute to the implementation of organisation strategy, business plans, and business planning, by using accounting and finance and system-wide applications to provide robust evidence for effective decision making.

K22 K23

S21 S22

B4 B7

Duty 12 Analyse and interpret a wide range of financial information for internal and external stakeholders.

B2 B4 B7

Duty 13 Research, analyse, and report on factors influencing business performance, and make recommendations. For example: ways to reduce costs, improve profitability, improve quality, customer satisfaction, efficiency, productivity, and sustainabilty.

K24 K25

S23 S24

B1 B2 B6 B7

Duty 14 Research and identify sources of finance, demonstrate an awareness of risk, be able to assist in arranging new sources of finance, and maintaining existing lines of credit and credit relationships.

K26 K27

S25 S26

B1 B2 B3 B4 B5 B6 B7

Duty 15 Manage the credit control function, which involves understanding the legal framework, maintaining receivables (Sales Ledger), cash flow, and customer relationships.

K28 K29

S27 S28

B1

Duty 16 Develop and maintain internal controls that monitor and manage financial risk to safeguard the organisations assets and mitigate liabilities.

K30 K31

S29 S30

B1 B3 B7

Duty 17 Understand the importance of external relationships to the organisation and be able to maintain them. These relationships could include: clients, customers, suppliers, auditors, solicitors, bankers and statutory organisations such as the HMRC, Companies House and the Financial Conduct Authority.

K32 K33

S31 S32

B3 B4 B5 B6 B7

Duty 18 Recruit, train, appraise, mentor and be responsible for the day-to-day management of their accounting and finance team.

K34 K35

S33 S34

B4 B7


KSBs

Knowledge

K1: The regulatory framework of financial accounting that apply to sole traders, partnerships, companies, charities, and public sector organisations. Back to Duty

K2: Accounting concepts and standards in UK GAAP and IFRS as applicable to sole traders, partnerships, companies, charities, and public sector organisations. Back to Duty

K3: The technology available for financial accounting, reporting, and internal controls. For example, iXBRL Back to Duty

K4: Approaches to analysing issues relating to competitors, stakeholders and market trends. For example ratio analysis, trend analysis, stakeholder analysis, competitor analysis. Back to Duty

K5: Approaches to data analytics using technology to visualise findings from the analysis of financial and non-financial data from internal and external sources. Back to Duty

K6: The requirements of the data commissioner under GDPR, and other stakeholders. Back to Duty

K7: Digital technology and protocols to protect data from cyber attacks and data corruption. Back to Duty

K8: The principles of legal, professional, and ethical frameworks including regulations regarding money laundering, criminal finance, data protection, health and safety, computer misuse and cybercrime. Back to Duty

K9: The principles of digital systems management to ensure they are compliant with all relevant legal, professional and ethical frameworks. Back to Duty

K10: The principles and significance of reconciling internal system records with external information sources such as banks and suppliers. Back to Duty

K11: The purpose and techniques of budgeting and forecasting required to manage revenue, expenditure and cash flow. Back to Duty

K12: The use of digital technology to compile, manage and report on budgets Back to Duty

K13: Approaches to creating cash flow forecasts. Back to Duty

K14: The use of digital technology to forecast, monitor and report on movements in an organisations' cash flows. Back to Duty

K15: Approaches used to analyse the financial and non-financial impact of management decisions. Back to Duty

K16: The use of digital technology to provide management reports to assist decision making. Back to Duty

K17: The importance of taxation in society and its impact on government policy. Back to Duty

K18: The relationship of UK taxation to the accounting and finance function within organisations. Back to Duty

K19: Implications for taxation reporting and obligations of organisational or client decision making. Back to Duty

K20: Principles of digital technology used to process data and fulfil organisational and HMRC digital taxation reporting requirements. Back to Duty

K21: The importance of the internal and external audit function and the significance of providing information requested from the audit teams to fulfil their duties. Back to Duty

K22: Strategic planning techniques that are used by organisations to analyse, develop, and implement strategy. Back to Duty

K23: Approaches to digital technology used to analyse, communicate, monitor and report on implementing strategy and meeting strategic objectives. Back to Duty

K24: Approaches to identify and evaluate quantitative and qualitative factors that influence business performance. Back to Duty

K25: The use of technology to collect, analyse and communicate quantitative and qualitative data. Back to Duty

K26: The sources of finance that are available to organisations. Back to Duty

K27: Approaches to using technology to identify and apply for finance and maintain credit relationships. Back to Duty

K28: The legal and organisational framework for managing receivables, credit control, and internal and external relationships. Back to Duty

K29: Approaches to using technology that manages credit control for internal and external stakeholders. Back to Duty

K30: The principles and practice of designing, implementing and maintaining internal controls that mitigate risk and prevent issues, such as with quality, accuracy, fraud, cyber-attacks, or other irregularity. Back to Duty

K31: Approaches to internal controls for both manual and digital systems and processes, with consideration for the control environment. Back to Duty

K32: Approaches to managing external relationships that affect the organisation. Back to Duty

K33: Approaches to digital technology to produce relevant information for stakeholder reports such as Integrated Reporting or Environmental Social and Governance (ESG) reports. Back to Duty

K34: Principles of effective staff recruitment, training, appraisal, mentoring and management. Back to Duty

K35: Approaches to use of digital technologies to appraise, monitor and manage staff. Back to Duty

Skills

S1: Prepare financial statements, or extracts thereof, in accordance with International Financial Reporting Standards (IFRS) and UK Generally Accepted Accounting Practice (GAAP). Back to Duty

S2: Identify and use appropriate digital technology to achieve desired outputs in the context of producing statutory of financial reports. Back to Duty

S3: Analyse financial and non-financial internal data and compare with benchmark data such as from competitors, stakeholders, and market trends. Back to Duty

S4: Use data analytics tools, visualise findings, make evidenced-based recommendations for future action and communicate them. Back to Duty

S5: Interpret and implement the latest guidance on secure data management to satisfy the requirements of the Data Commissioner and GDPR. Back to Duty

S6: Implement protocols and technology that minimise risks to data integrity and cyber security. Back to Duty

S7: Evaluate internal and external factors relevant to the operational compliance of the organisation with all necessary legal, professional and ethical frameworks. Back to Duty

S8: Apply the principles of digital systems management to ensure continued compliance with all relevant frameworks applicable to the organisation. Back to Duty

S9: Analyse and interpret the reasons for differences between internal and external source documentation and produce reconciliations that clearly identify those differences and required actions. Back to Duty

S10: Create budgets and forecasts using the most appropriate tools and techniques. Back to Duty

S11: Interpret budget reports to evaluate the reliability of forecasts and to identify variances which require further action. Back to Duty

S12: Calculate and interpret cash flow forecasts. Back to Duty

S13: Interpret cash flow reports and identify future action required to manage cash balances. Back to Duty

S14: Apply management accounting techniques to assist decision making within the organisation. Back to Duty

S15: Interpret management reports, and utilise a variety of media, including verbal communication, to deliver advice that impacts management decisions. Back to Duty

S16: Interpret and apply HMRC rules and guidance to produce tax calculations and statutory returns. Back to Duty

S17: Implement and manage systems and processes that gather the information required by HMRC. Back to Duty

S18: Analyse and summarise organisational or client decision making and the impact on taxation reporting and obligations. Back to Duty

S19: Implement and manage the technology to satisfy HMRC reporting requirements for digital taxation. Back to Duty

S20: Produce the information required by internal and external auditors in a clear format. Back to Duty

S21: Evaluate strategic options, taking into consideration the impact of internal and external factors. Back to Duty

S22: Develop, communicate, and deliver operational plans that meet strategic objectives; being able to set targets and KPIs, manage resources, and monitor and measure outcomes to establish operations effectively, efficiently and economically. Back to Duty

S23: Ability to interpret quantitative and qualitative data in order to assess business performance, and utilise a variety of media, including verbal communication that demonstrates emotional intelligence, to make recommendations. Back to Duty

S24: Analyse and interpret the process of how data is collected, extracted, analysed and reported. Back to Duty

S25: Evaluate the impact of different sources of finance on an organisation, including risk and recommend appropriate finance options. Back to Duty

S26: Advise organisations and implement technology to raise finance and maintain credit relationships. Back to Duty

S27: Design and manage a compliant credit control system that meets strategic objectives regarding customers, insurers, and cash flow. Back to Duty

S28: Implement technology that enables delivery of a credit control system that meets strategic objectives. Back to Duty

S29: Analyse, design, implement, communicate, monitor and review internal control systems and processes that mitigate risk, including error, fraud, and cyber risks. Back to Duty

S30: Document organisational manual and digital internal controls, identify weaknesses, and make practical recommendations for improvement. Back to Duty

S31: Develop and maintain effective relationships with internal and external stakeholders. Back to Duty

S32: Identify relevant information to be included in reports used by stakeholders. Back to Duty

S33: Identify potential improvements to HR policies and activities such as recruitment, training, appraisal, mentoring or management. Back to Duty

S34: Evaluate the effectiveness of digital technology used to appraise, monitor and manage staff. Back to Duty

Behaviours

B1: Conscientious and diligent attention to detail that strives for completeness and accuracy. Back to Duty

B2: Rigorous and empirical approach to the analysis of data and research the facts and gathering expert opinion before recommending action. Back to Duty

B3: Committed to continuing professional development (CPD) by keeping up to date with the latest legislation, releases from standard setters, the latest advances in, and applications of, digital technology as applicable to accounting and finance and guidance from HMRC. Back to Duty

B4: Objective and capable of independent and team working, committed to a reflective approach and therefore continuous improvement of internal and external relationships, including reviewing their own performance and performance of their team. Back to Duty

B5: Act with professional scepticism including a questioning mind, being alert to conditions which may indicate a possible misstatement due to error or fraud and a critical assessment of evidence. Back to Duty

B6: Act with professional judgment and values. Apply ethical standards in making informed decisions about the courses of action that are appropriate to their business or their client including acting in the public interest. Back to Duty

B7: Creative, innovative and enterprising when seeking solutions to business needs. Positive and adaptable, responding well to feedback and need for change. Open to new ways of working and new management theories. Back to Duty


Qualifications

English and Maths

Apprentices without level 2 English and maths will need to achieve this level prior to taking the End-Point Assessment. For those with an education, health and care plan or a legacy statement, the apprenticeship’s English and maths minimum requirement is Entry Level 3. A British Sign Language (BSL) qualification is an alternative to the English qualification for those whose primary language is BSL.

Other mandatory qualifications

Accounting Finance Manager Degree

Level: 6 (integrated degree)

This is an integrated degree apprenticeship where a new integrated degree will be created once the apprenticeship standard and EPA have been approved

Professional recognition

This standard aligns with the following professional recognition:

  • Institute of Financial Accountants for Intermediate Level
Print EPA plan

End-point assessment plan

Introduction and overview

This document explains the requirements for end-point assessment (EPA) for the accounting finance manager apprenticeship. End-point assessment organisations (EPAOs) must follow this when designing and delivering the EPA.

Accounting finance manager apprentices, their employers and training providers should read this document.

An approved EPAO must conduct the EPA for this apprenticeship. Employers must select an approved EPAO from the Education and Skills Funding Agency’s Register of end-point assessment organisations (RoEPAO).

A full-time apprentice typically spends 36 months on-programme (this means in training before the gateway) working towards competence as a accounting finance manager. All apprentices must spend at least 12 months on-programme. All apprentices must complete the required amount of off-the-job training specified by the apprenticeship funding rules.

This EPA has 2 assessment methods.

The grades available for each assessment method are:



Assessment method 1 - project report with presentation, questions and answers:









Assessment method 2 - professional discussion underpinned by a portfolio:









The result from each assessment method is combined to decide the overall apprenticeship grade. The following grades are available for the apprenticeship:











EPA summary table

On-programme (typically 36 months)
The apprentice must complete training to develop the knowledge, skills and behaviours (KSBs) of the occupational standard.

The apprentice must complete training towards English and maths qualifications in line with the apprenticeship funding rules.

The apprentice must complete training towards any other qualifications listed in the occupational standard.

The qualification(s) required are:

Accounting Finance Manager Degree

End-point assessment gateway
The employer must be content that the apprentice is working at or above the occupational standard.

The apprentice’s employer must confirm that they think the apprentice:

  • is working at or above the occupational standard as a accounting finance manager
  • has the evidence required to pass the gateway and is ready to take the EPA

The apprentice must have passed any other qualifications listed in the accounting finance manager occupational standard ST1303.

The qualification(s) required are:

Accounting Finance Manager Degree

The apprentice must have achieved English and maths qualifications in line with the apprenticeship funding rules.

The apprentice must submit any policies and procedures as requested by the EPAO.

End-point assessment (typically 4 months)
Grades available for each assessment method:

Project Report with presentation, questions and answers

  • fail
  • pass
  • distinction

Professional Discussion underpinned by a portfolio

  • fail
  • pass
  • distinction

Overall EPA and apprenticeship can be graded:

    • fail
    • pass
    • merit
    • distinction
Professional recognition
This apprenticeship aligns with Institute of Financial Accountants for Intermediate Level

The apprenticeship will either wholly or partially satisfy the requirements for registration at this level.





Re-sits and re-takes



  • Re-take and re-sit grade cap: distinction
  • Re-sit timeframe: typically 2 months
  • Re-take timeframe: typically 4 months

Duration of end-point assessment period

The EPA is taken in the EPA period. The EPA period starts when the EPAO confirms the gateway requirements have been met and is typically 4 months.

The EPAO should confirm the gateway requirements have been met and the EPA should start as quickly as possible.

EPA gateway

The apprentice’s employer must confirm that they think their apprentice is working at or above the occupational standard. The apprentice will then enter the gateway. The employer may take advice from the apprentice's training provider(s), but the employer must make the decision.

The apprentice must meet the gateway requirements before starting their EPA.

These are:

  • achieved English and maths qualifications in line with the apprenticeship funding rules
  • achieved Accounting Finance Manager Degree
  • for the professional discussion underpinned by a portfolio the apprentice must submit Portfolio of evidence

Portfolio of evidence requirements:

The apprentice must compile a portfolio of evidence during the on-programme period of the apprenticeship. It should only contain evidence related to the KSBs that will be assessed by this assessment method. It will typically contain 18 discrete pieces of evidence. Evidence must be mapped against the KSBs. Evidence may be used to demonstrate more than one KSB; a qualitative as opposed to quantitative approach is suggested.

Evidence sources may include:

  • workplace documentation and records, for example:
  • workplace policies and procedures
  • witness statements
  • transcripts from modules provided by Higher Education Institution
  • annotated screenshots from digital systems
  • video clips (maximum total duration 15 minutes); the apprentice must be in view and identifiable
  • schematics of the organisation's financial control environment

This is not a definitive list; other evidence sources can be included.

The portfolio of evidence should not include reflective accounts or any methods of self-assessment. Any employer contributions should focus on direct observation of performance (for example, witness statements) rather than opinions. The evidence provided should be valid and attributable to the apprentice; the portfolio of evidence should contain a statement from the employer and apprentice confirming this.

The EPAO should not assess the portfolio of evidence directly as it underpins the discussion . The independent assessor should review the portfolio of evidence to prepare questions for the discussion. They are not required to provide feedback after this review.

The apprentice must submit any policies and procedures as requested by the EPAO.

Assessment methods

The assessment methods can be delivered in any order.

The result of one assessment method does not need to be known before starting the next.

Project Report with presentation, questions and answers

Overview

A project involves the apprentice completing a significant and defined piece of work that has a real business application and benefit. The project must start after the apprentice has gone through the gateway. It gives the apprentice the opportunity to demonstrate the KSBs mapped to this assessment method.

The project must meet the needs of the employer’s business and be relevant to the apprentice’s occupation and apprenticeship. The EPAO must confirm that it provides the apprentice with the opportunity to demonstrate the KSBs mapped to this assessment method to the highest available grade. The EPAO must refer to the grading descriptors to ensure that projects are pitched appropriately.

This assessment method has 2 components:

  • project with a project output
  • presentation with questions and answers

Rationale

Accounts and finance managers need to present accounts and financial data and recommedations communicating clearly in writing, and to plan, deliver and evaluate discrete projects putting organisational requirements into practice. They must be able to devise, apply and explain the rationale behind methods for solving problems, testing ideas and setting out options for stakeholders. They need to demonstrate a practical understanding of the impacts of digital technologies in their organisation.

• they are required to be concise and precise in their use of language in written and verbal communication and demonstrate clarity of thought to engage others • the work-based written project report offers a realistic opportunity to combine project management, data visualisation, formal writing and reflection on approaches taken and attendant risks and mitigations.

As such, this assessment method allows apprentices to demonstrate mastery of KSBs that arise naturally in professional roles within organisations of any size or scope.

• it is a holistic assessment method, allowing the apprentice to demonstrate KSBs in an integrated way by writing the report on the project and being questioned to understand rationale for choices made, risks and problems identified and resolved and areas where further action could be required

• it provides a cost-effective assessment, as it minimises independent assessor time and makes use of the apprentice’s employer’s workplace, equipment and resources, and should contribute to workplace productivity.

Component 1: Project with a project output

Delivery

The project report with presentation, questions and answers must be structured to give the apprentice the opportunity to demonstrate the KSBs mapped to this assessment method to the highest available grade.

The apprentice’s project can be based on any of the following:

  • a specific problem
  • a recurring issue
  • an idea or opportunity.

  • Using technology to improve profitability, driving out inefficiencies such as duplication of effort or inefficient use of systems in accounting and finance services
  • Problems within the organisation caused by systems leading to friction between teams or departments and design a solution to help stakeholders needs be met such as inaccuracies within payroll, stock control, customer data or purchasing data
  • Implementing new technologies and leveraging automation, machine learning and AI etc to deliver greater efficiency in accounting and finance services
  • Communication of financial data moving to cloud based technologies.
  • Workflow management using digital systems effectively and delivering efficient accounting and finance services

To ensure the project allows the apprentice to meet the KSBs mapped to this assessment method to the highest available grade, the EPAO should sign-off the project’s title and scope at the gateway to confirm it is suitable.

The project output must be in the form of a report.

The apprentice must start the project after the gateway. They must complete and submit the to the EPAO by the end of weekreport 6 of the EPA period. The employer should ensure the apprentice has the time and resources within this period, to plan and complete their project. The apprentice must complete their project and the production of its components unaided.

The apprentice may work as part of a team to complete the project which could include technical internal or external support. However, the project output must be the apprentice’s own work and reflective of their own role and contribution. The apprentice and their employer must confirm that the project output(s) is the apprentice’s own work when it is submitted.

The report must include at least:

1. Introduction – including background, value proposition and objectives including KPIs.

2. Literature Review – credible sources underpinning the project

3. Methodology – demonstrate awareness of possible methods and criteria used to select best possible method

4. Analysis and findings – visualise data, identify the key issues in line with project objectives. Undertake a balanced review recognising the limitations and opportunities for expanding the study

5. Conclusions, outcomes and recommendations

6. Reference list and bibliography

1. Introduction – including background, value proposition and objectives including KPIs. (250 words)

2. Background Research (Literature Review) – credible sources underpinning the project (1000 words)

3. Analysis and findings – visualise data, identify the key issues in line with project objectives. Undertake a balanced review recognising the limitations and opportunities for expanding the study (2000 words)

4. Conclusions, outcomes and recommendations (750 words)

5. Reference list and bibliography.

The project report has a word count of 4000 words. A tolerance of 10% above or below the word count is allowed at the apprentice’s discretion. Appendices, references and diagrams are not included in this total. The project report must map, in an appendix, how it evidences the KSBs mapped to this assessment method.

Professional Discussion underpinned by a portfolio

Overview

In the discussion, an independent assessor and apprentice have a formal two-way conversation.

The apprentice can refer to and illustrate their answers with evidence from their portfolio of evidence. It gives the apprentice the opportunity to demonstrate their competency across the KSBs mapped to this EPA method.

Rationale

This assessment method is being used because:This assessment method is being used because it is a holistic assessment method, allowing the apprentice to demonstrate KSBs in an integrated way.

Accounts and Finance Managers work with a wide range of stakeholders delivering outcomes that vary widely in theme depending on the size and sector of the employer.

Accounts and Finance Managers are required to be comfortable in face-to-face discussions about their role and the objectives of it in relation to their organisation and the wider sector. They are required to present, explain and justify their rationale in relation to complex data and financial analysis using visualisation techniques to explain complex ideas.

This method allows the demonstration of the ability to perform the role in a different context or large/small organisations to demonstrate transferable skills.

Delivery

The professional discussion must be structured to give the apprentice the opportunity to demonstrate the KSBs mapped to this assessment method to the highest available grade.

An independent assessor must conduct and assess the professional discussion.

The purpose of the independent assessor's questions will be to explore competence in the KSBs mapped to this assessment method

The EPAO must give an apprentice 7 days notice of the professional discussion.

The independent assessor must have at least 2 week(s) to review the supporting documentation.

The apprentice must have access to their portfolio of evidence during the professional discussion.

The apprentice can refer to and illustrate their answers with evidence from their portfolio of evidence, however the portfolio of evidence is not directly assessed.

The professional discussion must last for 45 minutes. The independent assessor can increase the time of the professional discussion by up to 10%. This time is to allow the apprentice to respond to a question if necessary.

The independent assessor must ask at least 10 questions. Follow-up questions are allowed where clarification is required. The independent assessor must use the questions from their EPAO’s question bank or create their own questions in-line with the EPAO’s training.

The independent assessor must make the grading decision. The independent assessor must keep accurate records of the assessment. They must record:

  • the apprentice’s answers to questions
  • the KSBs demonstrated in answers to questions
  • the grade achieved 

Assessment location

The professional discussion must take place in a suitable venue selected by the EPAO (for example the EPAO’s or employer’s premises).

The professional discussion can be conducted by video conferencing. The EPAO must have processes in place to verify the identity of the apprentice and ensure the apprentice is not being aided.

The professional discussion should take place in a quiet room, free from distractions and influence.

Question and resource development

The EPAO must develop a purpose-built assessment specification and question bank. It is recommended this is done in consultation with employers of this occupation. The EPAO should maintain the security and confidentiality of EPA materials when consulting employers. The assessment specification and question bank must be reviewed at least once a year to ensure they remain fit-for-purpose.  

The assessment specification must be relevant to the occupation and demonstrate how to assess the KSBs mapped to this assessment method. The EPAO must ensure that questions are refined and developed to a high standard. The questions must be unpredictable. A question bank of sufficient size will support this.

The EPAO must ensure that apprentice has a different set of questions in the case of re-sits or re-takes.

The EPAO must produce the following materials to support the professional discussion underpinned by a portfolio:

  • independent assessor assessment materials which include:
  • training materials
  • administration materials
  • moderation and standardisation materials
  • guidance materials
  • grading guidance
  • question bank
  • EPA guidance for the apprentice and the employer

The EPAO must ensure that the EPA materials are subject to quality assurance procedures including standardisation, training, and moderation.

Grading

Project Report with presentation, questions and answers

Fail - does not meet pass criteria

Theme
KSBs
Pass
Apprentices must demonstrate all the pass descriptors
Distinction
Apprentices must demonstrate all the pass descriptors and all of the distinction descriptors
Financial Accounting
K3 K4 K5 S3 S4 B1

Evaluates the technology available for financial accounting, reporting, and internal controls. For example iXBRL K3

Evaluates and uses approaches to analysing issues relating to competitors, stakeholders and market trends. Analyses financial and non-financial internal data and compares with benchmark data such as from competitors, stakeholders, and market trends K4 S3

Evaluates, uses and communicates approaches to data analytics using technology to visualise findings and make recommendations from the analysis of financial and non-financial data from internal and external sources that strives for completeness and accuracy K5,S4, B1

 

 

 

 

 

 

 

 

Justifies alternative approaches to data analytics using technology to visualise findings and make recommendations from the analysis of financial and non-financial data from internal and external sources that strives for completeness and accuracy K5, S4, B1

Management Accounting
K15 K16 K22 K23 K24 K25 S14 S15 S21 S22 S23 S24

Evaluates and applies approaches used to analyse the financial and non-financial impact of management decisions. Interprets management reports and utilises a variety of media, including verbal communciation to deliver advice that impacts management decisions K15 S15

Applies management accounting techniques to assist decision making within the organisation S14

Evaluates the use of digital technology to provide management reports to assist decision making K16

Compares and contrasts strategic planning techniques that are used by organisations to analyse, develop, and implement strategy and evaluate strategic options, taking into account the impact of internal and external factors K22, S21

Demonstrates how they develop, communicate and deliver operational plans that meet strategic objectives; set targets and KPIs, manage resources, and monitor and measure outcomes to establish operations effectively, efficiently and economically S22 

Evaluates approaches to digital technology used to analyse, communicate, monitor and report on implementing strategy and meeting strategic objectives K23

Summarises approaches to identify and evaluate quantitative and qualitative factors that influence business performance K24

Evaluates the use of technology to collect, analyse and communicate quantitative and qualitative data. Interprets that data to assess business performance and utilise a variety of media, including verbal communication, to make recommendations K25, S23

Evaluates how they analyse and interpret the process of how data is collected, extracted, analysed and reported S24

 

Critically evaluates judgements based on interpretation of financial and non-financial management reports. including:

  • the development, communication and delivery of operational plans that meet strategic objectives
  • setting of targets and KPIs
  • management of resources
  • monitoring and measurement of outcomes to establish operations effectively, efficiently and economically K15,S15, S22
Digital Security and Systems
K6 K7 K9 S5 S6 S8 B4

Demonstrates how they interpret and implement the latest guidance on secure data management to satisfy the requirements of the Data Commissioner and GDPR K6,S5

Evaluates digital technology and protocols to protect data from cyber attacks and data corruption how they implement protocols and technology that minimise risks to data integrity and cyber security K7, S6

Appraises how they apply the principles of digital systems management to ensure continued compliance with all relevant frameworks applicable to the organisation including continuous improvement of internal and external relationships and reviewing their own performance and that of their team K9, S8,B4

 

 

Critically evaluates how they apply the principles of digital systems management to ensure continued compliance with all relevant frameworks applicable to the organisation including continuous improvement of internal and external relationships and reviewing their own performance and that of their team S8, B4 

Legal Compliance
K8 S7 B6

Demonstrates evaluation of internal and external factors relevant to the operational compliance of the organisation with all necessary legal, professional and ethical frameworks including regulations regarding money laundering, criminal finance, data protection, health and safety, computer misuse and cybercrime and apply ethical standards in making informed decisions about the courses of action that are appropriate to their business or their client including acting in the public interest K8, S7, B6 

 

 

 

 

 

Critiques their approach to evaluation of internal and external factors relevant to the operational compliance of the organisation with all necessary legal, professional and ethical frameworks S7

Finance, Credit and Risk
K30 K31 S29 S30 B7

Applies the principles and practice of analysing, designing, implementing communicating and maintaining internal controls that mitigate risk and prevent issues, such as with quality, accuracy, fraud, cyber-attacks, or other irregularity with consideration for the control environment K30, K31, S29

 

Explains how they document organisational manual and digital internal controls, identify weaknesses, and make practical recommendations for improvement and that are creative, innovative and enterprising when seeking solutions to business needs S30, B7

 

 

 

Critically evaluates how they document organisational manual and digital internal controls, identify weaknesses, and make practical recommendations for improvement and that are creative, innovative and enterprising when seeking solutions to business needs S30, B7

Professional Discussion underpinned by a portfolio

Fail - does not meet pass criteria

Theme
KSBs
Pass
Apprentices must demonstrate all the pass descriptors
Distinction
Apprentices must demonstrate all the pass descriptors and all of the distinction descriptors
Financial Accounting
K1 K2 K10 S1 S2 S9 B2

 

Demonstrates application of accounting concepts and standards in UK GAAP and IFRS as applicable to sole traders, partnerships, companies, charities, and public sector organisations in the preparation of financial statements or extracts thereof. K1, K2, S1

Explains the principles and significance of reconciling internal system records with external information sources such as banks and suppliers K10

Evaluates how they identify and use appropriate digital technology to achieve desired outputs in the context of producing statutory of financial reports S2 

Defends how they analyse and interpret the reasons for differences between internal and external source documentation and produce reconciliations that clearly identify those differences and required actions taking a rigorous and empirical approach to the analysis of data, researching the facts and gathering expert opinion before recommending action S9, B2 

 

 

 

Critically evaluates how they analyse and interpret the reasons for differences between internal and external source documentation and produce reconciliations that clearly identify those differences and required actions taking a rigorous and empirical approach to the analysis of data, researching the facts and gathering expert opinion before recommending action S9, B2

Management Accounting
K11 K12 K13 K14 S10 S11 S12 S13 B5

Explains the purpose and techniques of budgeting and forecasting required to manage revenue, expenditure and cash flow K11

Defends their application of digital technology to compile, manage and report on budgets K12, S10

Compares and contrasts approaches to creating cash flow forecasts and the use of digital technology to forecast, monitor and report on movements in an organisation's cashflows K13, K14

Explains how they interpret budget reports to evaluate the reliability of forecasts and to identify variances which require further action S11 

Explains how they calculate and interpret cash flow forecasts and reports and identify action required to manage cash balances being alert to conditions which may indicate a possible misstatement due to error or fraud and a critical assessment of evidence.S12, S13, B5

 

 

Critically evaluate how they calculate and interpret budgets, forecasts and reports. Appraise how they identify action required to manage cash balances being alert to conditions which may indicate a possible misstatement due to error or fraud and a critical assessment of evidence. S11, S12, S13, B5

Human Resources and Stakeholder Relationship Management
K32 K33 K34 K35 S31 S32 S33 S34 B3

Explains their approaches to managing internal and external relationships that affect the organisation K32, S31

Evaluates approaches to digital technology to produce relevant information for stakeholder reports such as Integrated Reporting or Environmental Social and Governance (ESG) reports and how they identify relevant information to be included in reports used by stakeholders including keeping up to date with latest technologies and requirements K33, S32, B3

Explains how they apply the principles of effective staff recruitment, training, appraisal, mentoring and management and how they identify potential improvements K34, S33

Explains approaches to the use of digital technologies to appraise, monitor and manage staff and how they evaluate the effectiveness of digital technology used to appraise, monitor and manage staff K35, S34

 

 

 

 

Critically evaluates approaches to the use of digital technologies to appraise, monitor and manage staff and how they evaluate the effectiveness of digital technology used to appraise, monitor and manage staff that lead to recommendations for improvements in the organisationK35, S34

Tax Compliance
K17 K18 K19 K20 S16 S17 S18 S19

Explains the importance of taxation in society and its impact on government policy K17 

Analyses the relationship of UK taxation to the accounting and finance function within organisations K18 

Explains the implications for taxation reporting and obligations of organisational or client decision making K19

Summarises the principles of digital technology used to process data and fulfil organisational and HMRC digital taxation reporting requirements K20

Explains how they interpret and apply HMRC rules and guidance to produce tax calculations and statutory returns S16

Explains how they implement and manage systems and processes that gather the information required by HMRC S17, S19

Explains how they analyse and summarise organisational or client decision making and the impact on taxation reporting and obligations S18

 

N/A

Audit Compliance
K21 S20

Evaluates the importance of the internal and external audit function and the significance of providing information requested from the audit teams to fulfil their duties K21

Explains how they produce the information required by internal and external auditors in a clear format S20

N/A

Finance, Credit and Risk
K26 K27 K28 K29 S25 S26 S27 S28

Compares and contrasts the sources of finance that are available to organisations K26

Explains how they evaluate the impact of different sources of finance on an organisation, including risk and recommend appropriate finance options S25

Evaluates approaches to using technology to identify and apply for finance and maintain credit relationships K27

Explains how they advise organisations and implement technology to raise finance and maintain credit relationships S26

Explains the legal and organisational framework for managing receivables, credit control, and internal and external relationships K28

Evaluates approaches to using technology that manages credit control for internal and external stakeholders K29

Explains how they design and manage a compliant credit control system that meets strategic objectives regarding customers, insurers, and cash flow S27

Explains how they implement technology that enables delivery of a credit control system that meets strategic objectives S28

Critically evaluates how they implement technology that enables delivery of a credit control system that meets strategic objectives S28

Overall EPA grading

Performance in the EPA determines the apprenticeship grade of:

    • fail
    • pass
    • merit
    • distinction

An independent assessor must individually grade the: project report with presentation, questions and answers and professional discussion underpinned by a portfolio in line with this EPA plan.

The EPAO must combine the individual assessment method grades to determine the overall EPA grade.

If the apprentice fails one or more assessment methods, they will be awarded an overall fail. 

To achieve an overall pass, the apprentice must achieve at least a pass in all the assessment methods. To achieve an overall EPA merit, the apprentice must achieve a pass in either assessment method and a distinction in the remaining assessment method. To achieve an overall EPA distinction, the apprentice must achieve a distinction in both assessment methods.

Grades from individual assessment methods must be combined in the following way to determine the grade of the EPA overall.

Project Report with presentation, questions and answers Professional Discussion underpinned by a portfolio Overall Grading
Fail Any grade Fail
Any grade Fail Fail
Pass Pass Pass
Pass Distinction Merit
Distinction Pass Merit
Distinction Distinction Distinction

Re-sits and re-takes

If the apprentice fails one or more assessment methods they can take a re-sit or a re-take at their employer’s discretion. The apprentice’s employer needs to agree that a re-sit or re-take is appropriate. A re-sit does not need further learning, whereas a re-take does.

The apprentice should have a supportive action plan to prepare for a re-sit or a re-take.

The employer and EPAO agree the timescale for a re-sit or re-take. A re-sit is typically taken within 2 months of the EPA outcome notification. The timescale for a re-take is dependent on how much re-training is required and is typically taken within 4 months of the EPA outcome notification.

Failed assessment methods must be re-sat or re-taken within a 6-month period from the EPA outcome notification, otherwise the entire EPA will need to be re-sat or re-taken in full.

Re-sits and re-takes are not offered to an apprentice wishing to move from pass to a higher grade.

The apprentice will get a maximum EPA grade of distinction for a re-sit or re-take, unless the EPAO determines there are exceptional circumstances.

Roles and responsibilities

Roles Responsibilities

Apprentice

As a minimum, the apprentice should:

  • participate in and complete on-programme training to meet the KSBs as outlined in the occupational standard for a minimum of 12 months
  • complete the required amount of off-the-job training specified by the apprenticeship funding rules and as arranged by the employer and training provider
  • understand the purpose and importance of EPA
  • meet the gateway requirements 
  • undertake the EPA  

 

Employer

As a minimum, the apprentice's employer must:

  • select the EPAO and training provider 
  • work with the training provider (where applicable) to support the apprentice in the workplace and to provide the opportunities for the apprentice to develop the KSBs
  • arrange and support off-the-job training to be undertaken by the apprentice 
  • decide when the apprentice is working at or above the occupational standard and is ready for EPA 
  • ensure that supporting evidence required at the gateway is submitted in line with this EPA plan 
  • liaise with the training provider and EPAO to ensure the EPA is booked in a timely manner

Post-gateway, the employer must: 

  • confirm arrangements with the EPAO for the EPA (who, when, where) in a timely manner (including providing access to any employer-specific documentation as required, for example company policies)
  • ensure that the EPA is scheduled with the EPAO for a date and time which allows the opportunity for the apprentice to be assessed against the KSBs 
  • remain independent from the delivery of the EPA
  • ensure the apprentice is given sufficient time away from regular duties to prepare for, and complete all post-gateway elements of the EPA, and that any required supervision during this time (as stated within this EPA plan) is in place
  • where the apprentice is assessed in the workplace, ensure that the apprentice has access to the resources used on a regular basis 
  • pass the certificate to the apprentice upon receipt from the EPAO

EPAO

As a minimum, the EPAO must:  

  • conform to the requirements of this EPA plan and deliver its requirements in a timely manner 
  • conform to the requirements of the register of end-point assessment organisations (RoEPAO) 
  • conform to the requirements of the external quality assurance provider (EQAP) for this apprenticeship 
  • understand the occupational standard 
  • make the EPA contractual arrangements, including agreeing the price of the EPA 
  • develop and produce assessment materials as detailed for each assessment method in this EPA plan 
  • appoint qualified and competent independent assessors in line with the requirements of this EPA plan to conduct assessments and oversee their working 
  • appoint administrators (and invigilators where required) to administer the EPA  
  • provide training for independent assessors in terms of good assessment practice, operating the assessment tools and grading 
  • provide information, advice, guidance and documentation to enable apprentices, employers and training providers to prepare for the EPA 
  • confirm all gateway requirements have been met as quickly as possible 
  • arrange for the EPA to take place, in consultation with the employer 
  • ensure that the apprentice has access to the required resources and liaise with the employer to agree this if necessary, where the apprentice is not assessed in the workplace 
  • develop and provide assessment recording documentation to ensure a clear and auditable process is in place for providing assessment decisions and feedback to stakeholders 
  • have no direct connection with the apprentice, their employer or training provider in all instances; there must be no conflict of interest 
  • have policies and procedures for internal quality assurance (IQA), and maintain records of IQA activity and moderation for external quality assurance (EQA) purposes 
  • deliver induction training for independent assessors, and for invigilators and markers (where used) 
  • undertake standardisation activity on this apprenticeship for an independent assessor before they conduct an EPA for the first time, if the EPA is updated and periodically (a minimum of annually) 
  • manage invigilation of the apprentice to maintain security of the assessment in line with the EPAO’s malpractice policy 
  • verify the identity of the apprentice  
  • use language in the development and delivery of the EPA that is appropriate to the level of the occupational standard 

Independent assessor

As a minimum, an independent assessor must: 

  • have the competence to assess the apprentice at the level of this apprenticeship and hold any required qualifications and experience in line with the requirements of the independent assessor as detailed in the IQA section of this EPA plan 
  • understand the occupational standard and the requirements of this EPA 
  • have, maintain and be able to evidence, up-to-date knowledge and expertise of the occupation 
  • deliver the end-point assessment in-line with this EPA plan 
  • comply with the IQA requirements of the EPAO 
  • have no direct connection or conflict of interest with the apprentice, their employer or training provider; in all instances; there must be no conflict of interest 
  • attend induction training 
  • attend standardisation events when they start working for the EPAO, before they conduct an EPA for the first time and a minimum of annually for this apprenticeship  
  • assess each assessment method, as determined by the EPA plan  
  • assess the KSBs assigned to each assessment method, as shown in the mapping of KSBs to assessment methods in this EPA plan  
  • make the grading decisions 
  • record and report assessment outcome decisions, for each apprentice, following instructions and using assessment recording documentation provided by the EPAO, in a timely manner 
  • use language in the development and delivery of the EPA that is appropriate to the level of the occupational standard 
  • mark open (constructed) test answers accurately according to the EPAO’s mark scheme and procedures 

Training provider

As a minimum, the training provider must: 

  • work with the employer and support the apprentice during the off-the-job training to provide the opportunities to develop the KSBs as listed in the occupational standard 
  • conduct training covering the KSBs agreed as part of the Commitment Statement or the Individual Learning Plan 
  • monitor the apprentice’s progress during any training provider led on-programme learning 
  • advise the employer, upon request, on the apprentice’s readiness for EPA 
  • remain independent from the delivery of the EPA 

Reasonable adjustments

The EPAO must have reasonable adjustments arrangements for the EPA.

This should include:

  • how an apprentice qualifies for reasonable adjustment
  • what reasonable adjustments may be made

Adjustments must maintain the validity, reliability and integrity of the EPA as outlined in this EPA plan.

Internal quality assurance

Internal quality assurance refers to how the EPAO ensures valid, consistent and reliable EPA decisions. The EPAO must adhere to the requirements within the roles and responsibilities section:

The EPAO must also:

  • have quality assurance systems and procedures that ensure fair, reliable and consistent EPA regardless of employer, place, time or independent assessor
  • appoint independent assessors who are competent to deliver the EPA and who:
    • have recent relevant experience of the occupation or sector to at least occupational level 6 gained in the last 5 years or significant experience of the occupation or sector
    • meet the following minimum requirements:

      experience of digital accounting and financial management systems

  • operate induction training for anyone involved in the delivery or assessment of the EPA
  • provide training for independent assessors in good assessment practice, operating the assessment tools and making grading decisions
  • provide ongoing training for markers and invigilators
  • provide standardisation activity for this apprenticeship standard for all independent assessors:
    • before they conduct an EPA for the first time
    • if the EPA is updated
    • periodically as appropriate (a minimum of annually)
  • conduct effective moderation of EPA decisions and grades
  • conduct appeals where required, according to the EPAO’s appeals procedure, reviewing and making final decisions on EPA decisions and grades
  • have no direct connection with the apprentice, their employer or training provider.

Value for money

Affordability of the EPA will be aided by using at least some of the following:

  • utilising digital remote platforms to conduct applicable assessment methods
  • using the employer’s premises
  • conducting assessment methods on the same day

Professional recognition

This apprenticeship aligns with:

Institute of Financial Accountants for Intermediate Level

Mapping of KSBs to assessment methods

Knowledge Assessment methods
K1

The regulatory framework of financial accounting that apply to sole traders, partnerships, companies, charities, and public sector organisations.

Back to Grading
Professional Discussion underpinned by a portfolio
K2

Accounting concepts and standards in UK GAAP and IFRS as applicable to sole traders, partnerships, companies, charities, and public sector organisations.

Back to Grading
Professional Discussion underpinned by a portfolio
K3

The technology available for financial accounting, reporting, and internal controls. For example, iXBRL

Back to Grading
Project Report with presentation, questions and answers
K4

Approaches to analysing issues relating to competitors, stakeholders and market trends. For example ratio analysis, trend analysis, stakeholder analysis, competitor analysis.

Back to Grading
Project Report with presentation, questions and answers
K5

Approaches to data analytics using technology to visualise findings from the analysis of financial and non-financial data from internal and external sources.

Back to Grading
Project Report with presentation, questions and answers
K6

The requirements of the data commissioner under GDPR, and other stakeholders.

Back to Grading
Project Report with presentation, questions and answers
K7

Digital technology and protocols to protect data from cyber attacks and data corruption.

Back to Grading
Project Report with presentation, questions and answers
K8

The principles of legal, professional, and ethical frameworks including regulations regarding money laundering, criminal finance, data protection, health and safety, computer misuse and cybercrime.

Back to Grading
Project Report with presentation, questions and answers
K9

The principles of digital systems management to ensure they are compliant with all relevant legal, professional and ethical frameworks.

Back to Grading
Project Report with presentation, questions and answers
K10

The principles and significance of reconciling internal system records with external information sources such as banks and suppliers.

Back to Grading
Professional Discussion underpinned by a portfolio
K11

The purpose and techniques of budgeting and forecasting required to manage revenue, expenditure and cash flow.

Back to Grading
Professional Discussion underpinned by a portfolio
K12

The use of digital technology to compile, manage and report on budgets

Back to Grading
Professional Discussion underpinned by a portfolio
K13

Approaches to creating cash flow forecasts.

Back to Grading
Professional Discussion underpinned by a portfolio
K14

The use of digital technology to forecast, monitor and report on movements in an organisations' cash flows.

Back to Grading
Professional Discussion underpinned by a portfolio
K15

Approaches used to analyse the financial and non-financial impact of management decisions.

Back to Grading
Project Report with presentation, questions and answers
K16

The use of digital technology to provide management reports to assist decision making.

Back to Grading
Project Report with presentation, questions and answers
K17

The importance of taxation in society and its impact on government policy.

Back to Grading
Professional Discussion underpinned by a portfolio
K18

The relationship of UK taxation to the accounting and finance function within organisations.

Back to Grading
Professional Discussion underpinned by a portfolio
K19

Implications for taxation reporting and obligations of organisational or client decision making.

Back to Grading
Professional Discussion underpinned by a portfolio
K20

Principles of digital technology used to process data and fulfil organisational and HMRC digital taxation reporting requirements.

Back to Grading
Professional Discussion underpinned by a portfolio
K21

The importance of the internal and external audit function and the significance of providing information requested from the audit teams to fulfil their duties.

Back to Grading
Professional Discussion underpinned by a portfolio
K22

Strategic planning techniques that are used by organisations to analyse, develop, and implement strategy.

Back to Grading
Project Report with presentation, questions and answers
K23

Approaches to digital technology used to analyse, communicate, monitor and report on implementing strategy and meeting strategic objectives.

Back to Grading
Project Report with presentation, questions and answers
K24

Approaches to identify and evaluate quantitative and qualitative factors that influence business performance.

Back to Grading
Project Report with presentation, questions and answers
K25

The use of technology to collect, analyse and communicate quantitative and qualitative data.

Back to Grading
Project Report with presentation, questions and answers
K26

The sources of finance that are available to organisations.

Back to Grading
Professional Discussion underpinned by a portfolio
K27

Approaches to using technology to identify and apply for finance and maintain credit relationships.

Back to Grading
Professional Discussion underpinned by a portfolio
K28

The legal and organisational framework for managing receivables, credit control, and internal and external relationships.

Back to Grading
Professional Discussion underpinned by a portfolio
K29

Approaches to using technology that manages credit control for internal and external stakeholders.

Back to Grading
Professional Discussion underpinned by a portfolio
K30

The principles and practice of designing, implementing and maintaining internal controls that mitigate risk and prevent issues, such as with quality, accuracy, fraud, cyber-attacks, or other irregularity.

Back to Grading
Project Report with presentation, questions and answers
K31

Approaches to internal controls for both manual and digital systems and processes, with consideration for the control environment.

Back to Grading
Project Report with presentation, questions and answers
K32

Approaches to managing external relationships that affect the organisation.

Back to Grading
Professional Discussion underpinned by a portfolio
K33

Approaches to digital technology to produce relevant information for stakeholder reports such as Integrated Reporting or Environmental Social and Governance (ESG) reports.

Back to Grading
Professional Discussion underpinned by a portfolio
K34

Principles of effective staff recruitment, training, appraisal, mentoring and management.

Back to Grading
Professional Discussion underpinned by a portfolio
K35

Approaches to use of digital technologies to appraise, monitor and manage staff.

Back to Grading
Professional Discussion underpinned by a portfolio
Skill Assessment methods
S1

Prepare financial statements, or extracts thereof, in accordance with International Financial Reporting Standards (IFRS) and UK Generally Accepted Accounting Practice (GAAP).

Back to Grading
Professional Discussion underpinned by a portfolio
S2

Identify and use appropriate digital technology to achieve desired outputs in the context of producing statutory of financial reports.

Back to Grading
Professional Discussion underpinned by a portfolio
S3

Analyse financial and non-financial internal data and compare with benchmark data such as from competitors, stakeholders, and market trends.

Back to Grading
Project Report with presentation, questions and answers
S4

Use data analytics tools, visualise findings, make evidenced-based recommendations for future action and communicate them.

Back to Grading
Project Report with presentation, questions and answers
S5

Interpret and implement the latest guidance on secure data management to satisfy the requirements of the Data Commissioner and GDPR.

Back to Grading
Project Report with presentation, questions and answers
S6

Implement protocols and technology that minimise risks to data integrity and cyber security.

Back to Grading
Project Report with presentation, questions and answers
S7

Evaluate internal and external factors relevant to the operational compliance of the organisation with all necessary legal, professional and ethical frameworks.

Back to Grading
Project Report with presentation, questions and answers
S8

Apply the principles of digital systems management to ensure continued compliance with all relevant frameworks applicable to the organisation.

Back to Grading
Project Report with presentation, questions and answers
S9

Analyse and interpret the reasons for differences between internal and external source documentation and produce reconciliations that clearly identify those differences and required actions.

Back to Grading
Professional Discussion underpinned by a portfolio
S10

Create budgets and forecasts using the most appropriate tools and techniques.

Back to Grading
Professional Discussion underpinned by a portfolio
S11

Interpret budget reports to evaluate the reliability of forecasts and to identify variances which require further action.

Back to Grading
Professional Discussion underpinned by a portfolio
S12

Calculate and interpret cash flow forecasts.

Back to Grading
Professional Discussion underpinned by a portfolio
S13

Interpret cash flow reports and identify future action required to manage cash balances.

Back to Grading
Professional Discussion underpinned by a portfolio
S14

Apply management accounting techniques to assist decision making within the organisation.

Back to Grading
Project Report with presentation, questions and answers
S15

Interpret management reports, and utilise a variety of media, including verbal communication, to deliver advice that impacts management decisions.

Back to Grading
Project Report with presentation, questions and answers
S16

Interpret and apply HMRC rules and guidance to produce tax calculations and statutory returns.

Back to Grading
Professional Discussion underpinned by a portfolio
S17

Implement and manage systems and processes that gather the information required by HMRC.

Back to Grading
Professional Discussion underpinned by a portfolio
S18

Analyse and summarise organisational or client decision making and the impact on taxation reporting and obligations.

Back to Grading
Professional Discussion underpinned by a portfolio
S19

Implement and manage the technology to satisfy HMRC reporting requirements for digital taxation.

Back to Grading
Professional Discussion underpinned by a portfolio
S20

Produce the information required by internal and external auditors in a clear format.

Back to Grading
Professional Discussion underpinned by a portfolio
S21

Evaluate strategic options, taking into consideration the impact of internal and external factors.

Back to Grading
Project Report with presentation, questions and answers
S22

Develop, communicate, and deliver operational plans that meet strategic objectives; being able to set targets and KPIs, manage resources, and monitor and measure outcomes to establish operations effectively, efficiently and economically.

Back to Grading
Project Report with presentation, questions and answers
S23

Ability to interpret quantitative and qualitative data in order to assess business performance, and utilise a variety of media, including verbal communication that demonstrates emotional intelligence, to make recommendations.

Back to Grading
Project Report with presentation, questions and answers
S24

Analyse and interpret the process of how data is collected, extracted, analysed and reported.

Back to Grading
Project Report with presentation, questions and answers
S25

Evaluate the impact of different sources of finance on an organisation, including risk and recommend appropriate finance options.

Back to Grading
Professional Discussion underpinned by a portfolio
S26

Advise organisations and implement technology to raise finance and maintain credit relationships.

Back to Grading
Professional Discussion underpinned by a portfolio
S27

Design and manage a compliant credit control system that meets strategic objectives regarding customers, insurers, and cash flow.

Back to Grading
Professional Discussion underpinned by a portfolio
S28

Implement technology that enables delivery of a credit control system that meets strategic objectives.

Back to Grading
Professional Discussion underpinned by a portfolio
S29

Analyse, design, implement, communicate, monitor and review internal control systems and processes that mitigate risk, including error, fraud, and cyber risks.

Back to Grading
Project Report with presentation, questions and answers
S30

Document organisational manual and digital internal controls, identify weaknesses, and make practical recommendations for improvement.

Back to Grading
Project Report with presentation, questions and answers
S31

Develop and maintain effective relationships with internal and external stakeholders.

Back to Grading
Professional Discussion underpinned by a portfolio
S32

Identify relevant information to be included in reports used by stakeholders.

Back to Grading
Professional Discussion underpinned by a portfolio
S33

Identify potential improvements to HR policies and activities such as recruitment, training, appraisal, mentoring or management.

Back to Grading
Professional Discussion underpinned by a portfolio
S34

Evaluate the effectiveness of digital technology used to appraise, monitor and manage staff.

Back to Grading
Professional Discussion underpinned by a portfolio
Behaviour Assessment methods
B1

Conscientious and diligent attention to detail that strives for completeness and accuracy.

Back to Grading
Project Report with presentation, questions and answers
B2

Rigorous and empirical approach to the analysis of data and research the facts and gathering expert opinion before recommending action.

Back to Grading
Professional Discussion underpinned by a portfolio
B3

Committed to continuing professional development (CPD) by keeping up to date with the latest legislation, releases from standard setters, the latest advances in, and applications of, digital technology as applicable to accounting and finance and guidance from HMRC.

Back to Grading
Professional Discussion underpinned by a portfolio
B4

Objective and capable of independent and team working, committed to a reflective approach and therefore continuous improvement of internal and external relationships, including reviewing their own performance and performance of their team.

Back to Grading
Project Report with presentation, questions and answers
B5

Act with professional scepticism including a questioning mind, being alert to conditions which may indicate a possible misstatement due to error or fraud and a critical assessment of evidence.

Back to Grading
Professional Discussion underpinned by a portfolio
B6

Act with professional judgment and values. Apply ethical standards in making informed decisions about the courses of action that are appropriate to their business or their client including acting in the public interest.

Back to Grading
Project Report with presentation, questions and answers
B7

Creative, innovative and enterprising when seeking solutions to business needs. Positive and adaptable, responding well to feedback and need for change. Open to new ways of working and new management theories.

Back to Grading
Project Report with presentation, questions and answers

Mapping of KSBs to grade themes

Project Report with presentation, questions and answers - Project

KSBS GROUPED BY THEME Knowledge Skills Behaviour
Financial Accounting
K3 K4 K5
S3 S4
B1

The technology available for financial accounting, reporting, and internal controls. For example, iXBRL (K3)

Approaches to analysing issues relating to competitors, stakeholders and market trends. For example ratio analysis, trend analysis, stakeholder analysis, competitor analysis. (K4)

Approaches to data analytics using technology to visualise findings from the analysis of financial and non-financial data from internal and external sources. (K5)

Analyse financial and non-financial internal data and compare with benchmark data such as from competitors, stakeholders, and market trends. (S3)

Use data analytics tools, visualise findings, make evidenced-based recommendations for future action and communicate them. (S4)

Conscientious and diligent attention to detail that strives for completeness and accuracy. (B1)

Management Accounting
K15 K16 K22 K23 K24 K25
S14 S15 S21 S22 S23 S24

Approaches used to analyse the financial and non-financial impact of management decisions. (K15)

The use of digital technology to provide management reports to assist decision making. (K16)

Strategic planning techniques that are used by organisations to analyse, develop, and implement strategy. (K22)

Approaches to digital technology used to analyse, communicate, monitor and report on implementing strategy and meeting strategic objectives. (K23)

Approaches to identify and evaluate quantitative and qualitative factors that influence business performance. (K24)

The use of technology to collect, analyse and communicate quantitative and qualitative data. (K25)

Apply management accounting techniques to assist decision making within the organisation. (S14)

Interpret management reports, and utilise a variety of media, including verbal communication, to deliver advice that impacts management decisions. (S15)

Evaluate strategic options, taking into consideration the impact of internal and external factors. (S21)

Develop, communicate, and deliver operational plans that meet strategic objectives; being able to set targets and KPIs, manage resources, and monitor and measure outcomes to establish operations effectively, efficiently and economically. (S22)

Ability to interpret quantitative and qualitative data in order to assess business performance, and utilise a variety of media, including verbal communication that demonstrates emotional intelligence, to make recommendations. (S23)

Analyse and interpret the process of how data is collected, extracted, analysed and reported. (S24)

N/A

Digital Security and Systems
K6 K7 K9
S5 S6 S8
B4

The requirements of the data commissioner under GDPR, and other stakeholders. (K6)

Digital technology and protocols to protect data from cyber attacks and data corruption. (K7)

The principles of digital systems management to ensure they are compliant with all relevant legal, professional and ethical frameworks. (K9)

Interpret and implement the latest guidance on secure data management to satisfy the requirements of the Data Commissioner and GDPR. (S5)

Implement protocols and technology that minimise risks to data integrity and cyber security. (S6)

Apply the principles of digital systems management to ensure continued compliance with all relevant frameworks applicable to the organisation. (S8)

Objective and capable of independent and team working, committed to a reflective approach and therefore continuous improvement of internal and external relationships, including reviewing their own performance and performance of their team. (B4)

Legal Compliance
K8
S7
B6

The principles of legal, professional, and ethical frameworks including regulations regarding money laundering, criminal finance, data protection, health and safety, computer misuse and cybercrime. (K8)

Evaluate internal and external factors relevant to the operational compliance of the organisation with all necessary legal, professional and ethical frameworks. (S7)

Act with professional judgment and values. Apply ethical standards in making informed decisions about the courses of action that are appropriate to their business or their client including acting in the public interest. (B6)

Finance, Credit and Risk
K30 K31
S29 S30
B7

The principles and practice of designing, implementing and maintaining internal controls that mitigate risk and prevent issues, such as with quality, accuracy, fraud, cyber-attacks, or other irregularity. (K30)

Approaches to internal controls for both manual and digital systems and processes, with consideration for the control environment. (K31)

Analyse, design, implement, communicate, monitor and review internal control systems and processes that mitigate risk, including error, fraud, and cyber risks. (S29)

Document organisational manual and digital internal controls, identify weaknesses, and make practical recommendations for improvement. (S30)

Creative, innovative and enterprising when seeking solutions to business needs. Positive and adaptable, responding well to feedback and need for change. Open to new ways of working and new management theories. (B7)

Professional Discussion underpinned by a portfolio - Discussion

KSBS GROUPED BY THEME Knowledge Skills Behaviour
Financial Accounting
K1 K2 K10
S1 S2 S9
B2

The regulatory framework of financial accounting that apply to sole traders, partnerships, companies, charities, and public sector organisations. (K1)

Accounting concepts and standards in UK GAAP and IFRS as applicable to sole traders, partnerships, companies, charities, and public sector organisations. (K2)

The principles and significance of reconciling internal system records with external information sources such as banks and suppliers. (K10)

Prepare financial statements, or extracts thereof, in accordance with International Financial Reporting Standards (IFRS) and UK Generally Accepted Accounting Practice (GAAP). (S1)

Identify and use appropriate digital technology to achieve desired outputs in the context of producing statutory of financial reports. (S2)

Analyse and interpret the reasons for differences between internal and external source documentation and produce reconciliations that clearly identify those differences and required actions. (S9)

Rigorous and empirical approach to the analysis of data and research the facts and gathering expert opinion before recommending action. (B2)

Management Accounting
K11 K12 K13 K14
S10 S11 S12 S13
B5

The purpose and techniques of budgeting and forecasting required to manage revenue, expenditure and cash flow. (K11)

The use of digital technology to compile, manage and report on budgets (K12)

Approaches to creating cash flow forecasts. (K13)

The use of digital technology to forecast, monitor and report on movements in an organisations' cash flows. (K14)

Create budgets and forecasts using the most appropriate tools and techniques. (S10)

Interpret budget reports to evaluate the reliability of forecasts and to identify variances which require further action. (S11)

Calculate and interpret cash flow forecasts. (S12)

Interpret cash flow reports and identify future action required to manage cash balances. (S13)

Act with professional scepticism including a questioning mind, being alert to conditions which may indicate a possible misstatement due to error or fraud and a critical assessment of evidence. (B5)

Human Resources and Stakeholder Relationship Management
K32 K33 K34 K35
S31 S32 S33 S34
B3

Approaches to managing external relationships that affect the organisation. (K32)

Approaches to digital technology to produce relevant information for stakeholder reports such as Integrated Reporting or Environmental Social and Governance (ESG) reports. (K33)

Principles of effective staff recruitment, training, appraisal, mentoring and management. (K34)

Approaches to use of digital technologies to appraise, monitor and manage staff. (K35)

Develop and maintain effective relationships with internal and external stakeholders. (S31)

Identify relevant information to be included in reports used by stakeholders. (S32)

Identify potential improvements to HR policies and activities such as recruitment, training, appraisal, mentoring or management. (S33)

Evaluate the effectiveness of digital technology used to appraise, monitor and manage staff. (S34)

Committed to continuing professional development (CPD) by keeping up to date with the latest legislation, releases from standard setters, the latest advances in, and applications of, digital technology as applicable to accounting and finance and guidance from HMRC. (B3)

Tax Compliance
K17 K18 K19 K20
S16 S17 S18 S19

The importance of taxation in society and its impact on government policy. (K17)

The relationship of UK taxation to the accounting and finance function within organisations. (K18)

Implications for taxation reporting and obligations of organisational or client decision making. (K19)

Principles of digital technology used to process data and fulfil organisational and HMRC digital taxation reporting requirements. (K20)

Interpret and apply HMRC rules and guidance to produce tax calculations and statutory returns. (S16)

Implement and manage systems and processes that gather the information required by HMRC. (S17)

Analyse and summarise organisational or client decision making and the impact on taxation reporting and obligations. (S18)

Implement and manage the technology to satisfy HMRC reporting requirements for digital taxation. (S19)

N/A

Audit Compliance
K21
S20

The importance of the internal and external audit function and the significance of providing information requested from the audit teams to fulfil their duties. (K21)

Produce the information required by internal and external auditors in a clear format. (S20)

N/A

Finance, Credit and Risk
K26 K27 K28 K29
S25 S26 S27 S28

The sources of finance that are available to organisations. (K26)

Approaches to using technology to identify and apply for finance and maintain credit relationships. (K27)

The legal and organisational framework for managing receivables, credit control, and internal and external relationships. (K28)

Approaches to using technology that manages credit control for internal and external stakeholders. (K29)

Evaluate the impact of different sources of finance on an organisation, including risk and recommend appropriate finance options. (S25)

Advise organisations and implement technology to raise finance and maintain credit relationships. (S26)

Design and manage a compliant credit control system that meets strategic objectives regarding customers, insurers, and cash flow. (S27)

Implement technology that enables delivery of a credit control system that meets strategic objectives. (S28)

N/A

Contact us about this apprenticeship

Employers involved in creating the standard: 5 Star Estate Planning, Acc-Unique Solutions Ltd, Azets, BBC, BDT Group, Birmingham City University, Birmingham Community Healthcare NHS Foundation Trust, Central England Co-operative Limited, Certax, Coventry University, Devonports, Ernst and Young, Exeter University, Forest Phoenix Accountancy Ltd, Gloucestershire County Council, Golden Intelligence Ltd, HBBA Care Ltd, IBM, IBM UK Foundation Manager IBM UK Early Professional Programmes, Institute of Financial Accountants, Jaguar Land Rover, Kingsley Maybrook Ltd, Longhurst Group, Manex Accountancy, Morgan Reach Chartered Certified Accountants, Paton Turberfield Accountants, Right Check, Sage (UK) Limited, TaxWhizz, The Education and Skills Partnership Ltd, Thomson Reuters Professional (UK) Ltd, UK Dies Group Ltd, University of Portsmouth, University of West of England, Watts Accountancy, Wellbeing Residential Care Group, Xero

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