I never know where to start with introductions here on cyber space! And I can see that from some other hellos, that they are advertising.. youll be glad and relieved to know that I am not. Im here as someone needing advice, help and encouragement. I live onsunny Skye with my husband and four children... I had boy/girl twins in January during all that snow, but thats another story to tell. I am currently employed with the council doing admin type work, though given my predicament I will be spending alot of time at home! lol. I am fully qualified as a biology teacher, I have two degrees in science and a PG dip in Human Resource Management.... I like to learn and do different things.... there doesnt seem to be a challenge big enough for me. So I am going to have to keep myself and my mind occupied..... wet nappies and dozens of feeds a day just are not enough.... and while talking to a friend I kind of bounced the idea off of her about doing some book keeping for local small businesses and shesaid that she would be my first client! I am pretty good my numbers and I have a good understanding of legislation and the tax system, so Im not daunted by it at all. So I am about to apply to do the ICB's qualification scheme, Manual book keeping 1& 2 followed by their computerised course. After that I will do some book keeping from home.
Im not expecting huge returns, but it is generally word of mouth round here, as you can imagine and there doesnt seem to be too many practising book keepers here either that have a professional qualification. Most book keeping is done by accountants so I can imagine they will be very very busy. So I can see a gap in the market.
Anyway before I get too carried away.
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Life isnt about waiting for the storm to pass, but about learning to dance in the rain!
You will find this site really friendly and so informative. Don't be afraid to ask anything. No question too silly! (I have lots of them)
Good luck with the studies and your future business, I'm sure they will be queing up on Skye. What a beautiful place to live. I'm jealous.
Love your quote by the way, with that sense of optimism you won't do bad
Valerie
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Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
welcome to the forum, as Valerie states people are quite friendly on here and despite the fact that we have our silly moments there is quite a bit of expertise around.
Few starting points.
You legally have to have MLR cover. Absolutely ridiculous in your case as you will have probably known every one of your clients since school... But, non the less, it's the law. You can either get it by having a practicing certificate from one of the supervisory bodies (IAB, ICB, AAT etc.) or direct from HMRC at a cost.
To get MLR through a supervisory body you have to have Professional Indemnity Insurance in place which once you are a member in practice you can get at quite reasonable prices from Trafalgar insurance.
Most people on this site are bookkeepers but there is also a smattering of accountants so when it comes to choosing your body we've got people here with just about every group.
You may find it better and cheaper to do either the AAT ABC Bookkeeping course or Open University course B190 for starters rather than signing up with a distance learning provider. Some of whom can be ridiculously expensive.
Don't believe what the training providers tell you. You don't need to have a training provider to study ICB. There are some pretty good books available (let us know if you need a reading list) and from the sound of it you don't need hand holding for your studies.
Anyway, welcome to the forum and good luck with your studies.
kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Moments of madness are allowed we are afterall but mere human beings! Skye is lovely, its where we fell in love..... so its romantic too... a special place.... well worth the visit in september and May, less midges nd tourisits on the roads.
Many many thanks for your kinds words and advice.. already, will look into the OU course, in fact right now...... at £310 it seems a fair deal for a course that gives professional recognition..... youve saved me a fortune already so big big thank you!
Introduction to bookkeeping and accounting (B190) is accredited by the International Association of Book-keepers (IAB). The course provides exemption from both their Level 2 Certificate in Book-keeping and also their Level 3 Diploma in Accounting and Advanced Book-keeping. Therefore on successful completion of B190 students will be able to apply to become Members of the IAB."
I take it this means that on completion it will mean I can iuse the name MIAB if I have a membership subscription with them?
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Life isnt about waiting for the storm to pass, but about learning to dance in the rain!
Right thats me.. booked onto the OU course, the even better news is that it cost even less as I have an ILA, indiviual learning account of £200.. so got even more money off... cant be bad, looks a pretty comprehensive course too.... looking forward to going back to learning!
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Life isnt about waiting for the storm to pass, but about learning to dance in the rain!
The conversion isn't automatic. You still need to apply for membership and it might be worth taking a look at the IAB website to ensure that you don't need to have the level 4 certification before they'll let you have a practicing certificate.
The IAB are a decent bunch and their qualification (unlike the ICB's) is recognised for exemptions by the higher bodies if you decided to progress your studies to AAT or even into one of the accountancy bodies such as ACCA or CIMA.
Glad to have saved you some money. I would say that we'll all pop around to yours for a few bevies on the back of those savings but fear that the travel costs annul the temptation of free beers!
I did the OU course B680 which had B190 as the pre study module basically to introduce bookkeeping before throwing you into accountancy. (Bookkeeping is the foundation of everything).
I can recommend the OU from experience. The material was second to none and you become part of a community of people at exactly the same stage of learning as yourself.
Actually, on the material front, the OU course is actually the same as the AAT ABC bookkeeping course but the exemptions that the two give are different (The OU must just have a better negotiating team).
Both courses are produced by a company called EQL which is part of BPP who supply all of the materials for ACCA and CIMA. So, very good pedigree on the training materials there.
Right, off back to trying to find the cheapest way of getting to Edinburgh for the week when my cars being serviced. The added variable on that one is trying to find the option that gives me the maximum amount of time with my son during the weekends at either side.
Just found Flybe.com with advertised prices of £2.02 each way... Then you add other charges and it comes to £55.98!... Why can't these companies just be straight and advertise the price that you've got to pay.
Talk later,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Im aiming for the stars now...lol never a mountain too high for me..... I love a challenge.... Im thinking about accountancy in the long term..... life long learning has taken on a new meaning.
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Life isnt about waiting for the storm to pass, but about learning to dance in the rain!
don't forget that for any of the accountancy qualifications there will be a period that you need to spend supervised by a properly qualified accountant.
I'm hoping that doesn't cause issues. Is there's a local accountancy practice that will take you under their wing?
The other issue there of course is that if there is then you will become the competition! Maybe you will need to take a look on the mainland to earn your stripes.
Anyway, it takes quite a while to get through all of the papers and with all but ICAEW (ICAS in your case) you can take the exams first and gain the experience after.
Worth noting here that a fully qualified MAAT is an accountant. You wouldn't be able to do regulated functions such as statutory audits or insolvency work but it is an option (and possibly the fastest route).
Good luck with whatever path you take,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Many thanks for the encouragement.... I will persuade them in that it will give them some free labour! The plan is to perhaps offer my book-keeping services to them when they have bottle necks and I will in turn put clients there way for the more accounting based tasks. So can work both ways!
Ive chosen the IAB, well not so much chosen as gone through the OU. After Ive done the book-keeping course B190, its my intention to do the finanical accounting and managment accounting courses too which will give me some accredition to one of the accounting institutes.
Im not sure if I will need to go back to uni... again!!! to become a Chartered Accountant.. if there is a way to do it distance learning that would be great.
Who knows, maybe I will find a nice niche for myself and that will be enough.
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Life isnt about waiting for the storm to pass, but about learning to dance in the rain!
