What does "qualified accountant mean"?

[Council]

I'm a school business manager for a group of 5 schools. I come from a banking background and have a degree in financial services and the diploma in School Business Management.

I've reached the top of the tree for this kind of work in maintained schools, so if I stay in this line of work, the natural progression would be to a Multi Academy Trust or an Independent School. (Academies pay ££££ to finance staff, so I've no idea where the financial benefits of conversion are!).

Anyway, many of the ads for these kinds of jobs require a "qualified accountant" but they don't say what qualification they want. Occasionally they have a long list of acceptable qualifications and from what I can gather they range from entry level to chartered accountant (ICAEW, ACCA, CIPFA, CIMA).

-When they don't say, what do they mean by qualified accountant?
-Can anyone make a recommendation on a course of study for someone in my position? Which qualification would you go for?

• Is it even possible to qualify whilst not working as an accountant?

"Qualified accountant" would usually mean from one of the chartered bodies, i.e. ACCA, ICAEW, CIMA, CIPFA, etc. These usually involved a few years of professional exams and yes, relevant work experience is also usually a requirement. Each body have their own rules as regards number of exams and years/type of experience, although there are exemptions from lower level exams if you have other further education qualifications (i.e. from a different professional body).

For lower level jobs, they may accept the "technician" level, i.e. from the Association of Accounting Technicians, or maybe even a book-keeping qualification, i.e. from the Institute of Certified Book-keepers.

ACCA and CIMA. Business Managers in schools are on 45-55 depending where you are.

Agree with the two previous posters.

I'd just add independent schools are a different kettle of fish to maintained (don't know about academies) but the reason that they often ask for qualified accountants is because they expect monthly management accounts, overseeing preparation of stat accounts plus liaison with auditors. They're generally run more like a business and do have to follow company law.

When I was interviewing for my maternity cover some of the candidates from the maintained sector looked very strong on paper but their actual accounts prep was weak.

To add, I'm only part-qualified which was enough with my experience so you may find AAT combined with your experience adequate and you might not need to do the lower levels.

Thanks all.

Academies pay ££££ to finance staff
Are you sure? I am CIMA qualified working as a financial controller for a Multi Academy Trust earning mid £30k, most of the rest of the team are on £20-£25k, money is extremely tight.

Well the job that caught my eye is an academy grammar school offering £50-£55k and a MAT of three primaries locally recently offered £60k. I've seen academies in London offering up to £70K

Have a look on The Guardian's jobs site and search Bursar. There are loads offering £40+ and several offering a lot more.

I'm a PQ CIMA accountant (admittedly a lot of experience) and I'm on £46FTE with scope to increase and that's as FM.

Our Bursar which is prob more what you're looking for as a prior SBM is on £70k ish. Plus 16.8% pension.

Try the independent sector if your technical skills are good enough.

Sorry, I should have clarified- I was talking about secondary schools!
I doubt a BM in an average primary is on much more than £35k, judging by adverts.