Established in 1936, MFW are one of the leading accountancy, taxation, business services and insolvency firms in Kent.
Kent Business School student, Katarina Visnovcova, undertook a work experience placement with MFW Accountants as an EP reward. The EP team caught with Katarina to find out about her experience.
During her placement, Katarina was tasked with various bookkeeping and accounting tasks, as she summarised:
“During the first half of my work experience, I prepared statutory accounts for one of MFW‘s limited company clients from the underlying bookkeeping records that MFW maintain. I read over the client‘s correspondence file to gain an understanding of the client and to identify any items that needed to be reflected in the accounts. I then collated the quarterly bookkeeping records and prepared a working paper file to support the accounts. This work included preparing a bank reconciliation, posting entries onto their accounts preparation software and making journal entries for year end adjustments such as depreciation, prepayments and accruals. I also dealt with the year end VAT reconciliations and summarising of wages information for the client.”
In the second part of her placement, Katarina gained the chance to handle sole trader accounts, learning about tax allowances and legal rules surrounding sole traders.
Summarising her experience, Katarina commented:
This experience offered by EP employability scheme was challenging but also very rewarding and enjoyable. The team was happy to answer all my questions and gave me simple and understandable explanations of complicated issues of the clients. During just one week I have developed a new set of skills and was able to put the theory from university into practice, which was the most enriching part of this work experience. I would advise every student studying towards ACCA qualification to consider this opportunity and take the next step to apply for this work experience.
Jonathan Fullarton BSc ACA – Partner at MFW – stated:
“We took on two work experience students from the University this Summer. Both students were hard working and eager to learn. I think the Employability Points Scheme gives students a real opportunity to gain valuable experience in the work place, which will help them when they are looking for a job after their university studies.”