Hi. I passed my IAB Level 2 in manual bookkeeping with Distinction last summer and am wondering if I should do Level 3. Will that help me to understand the ins and outs of P&L rather than just being able to produce the reports?
If you want to work for a LTD company as a self employed bookkeeper you will need to do level 3, my practice licence will not let me until I've passed the exam for this level. I've turned down eight potential clients because of this.
The course I am doing deals with some of the topics in level 2 but also deals with partnerships and shares for limited companies as well as going deeper into stocks.
The profit and loss is slightly more involved for partnerships and limited companies , so i would say its worth it
No-one actually needs any qualifications to do any book-keeping and anyone can call themselves an accountant. What one can't do is sign as an auditor. However, if you have a practice licence with a book-keeping or accountancy organisation then you are bound by their rules as to what you can and can't do.
