I am wondering if anyone can advise me as I feel like I've almost 'lost my way' on where to go with a career....if that is actually what I want or need.
I have 14 years book-keeping/management accounting experience. In that time I have worked for small companies through to multi-national organisations.
I have been financial director of a family business for several years.
I am currently employed by two separate companies which covers the books of six companies. I complete accounts through to the final trial balance at year end where external accountants tend to do (if any) a small number of adjustments before submitting to Companies House. I also leave the Corporation Tax computations to them. Though I'm not entirely fazed by what these involve.
I have prepared and filed self assessment forms for myself and family members. I do all payroll and VAT filings.
I studied CIMA and had a couple of papers remaining at was what the intermediate stage and the final stage to complete. Life/kids/work got in the way and I never finished.
I tend to work alone and although am relatively well paid in my current roles I feel a bit in limbo as I don't call myself an accountant as such. I see possibly in the future being self-employed and working for a handful of clients as their bookkeeper- so would the ICB membership (by experience exemption perhaps?) be the best option.
Or should I bite the bullet and try and complete CIMA? Would this be setting my sights higher or really only worth considering if I'm to pursue more managerial/corporate position? Which to be fair is going to be limited due to my current geography.
I know I have the intellect and ability- I just need the direction. I'm clearly not as career minded as some folk, I would like to earn as much as is comfortable but have a work to live not the other way around philosophy!
I hope you don't mind my saying this, but your post seems to indicate you're in a bit of a rut and lacking confidence in yourself.
If you see your future in working as self-employed doing further qualifications would not make any difference to what you could earn nor to who would use your services, however, it may give you more confidence.
I am not sure whether ICB would grant you membership on experience/qualifications but IAB would. Membership of either body would cover you for MLR regulations which you would need to work as self-employed and also offer cheaper insurance.
Your experience isn't dissimilar to mine, I to was a Cima finalist before "life" got in the way and spent my career working for a number of companies of varying sizes.
I think you need to decide what will ultimately make you happiest. CIMA is a well respected qualification in the wider business community so if you want to continue in an employed role, I'd suggest sticking with it.
But if you feel your future is starting your own business, I can't really say if it's the most appropriate. I know you can apply for a practice cerficate through CIMA but I don't know what, if any, are the restrictions e.g. from memory Cima never used to do a payroll course.
If you joined ICB I'm not certain you'd be allowed exemptions, but that's a simple phone call to confirm. As it stands you'd could apply for a practising certificate via ICB very quickly but you can't prepare CT returns or file stat accounts. At least that's how I understand it stands at the minute, but perhaps that will change with a new level4
If you want to practice and offers CT & Stat Accounts it may well be worth studying AAT. I'm pretty sure you'll get exemption to later levels, it used to be up to technician but AAT have recently revised their syllabus so it may have changed. That way you can offer a *full* service to the various businesses.
HTH Tony.
-- Edited by ADAS on Friday 24th of September 2010 06:28:38 PM
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Tony
Responses are intended as outline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
