I am looking into doing a distance learning qualification in bookkeeping and then possible further qualification's in accounting. After doing lots of reading/research and viewing lots of helpful posts on this forum I think i've come up with a plan of sorts. I am basically looking to take things one step at a time and at the end of each step decide between stoping and carrying on. So basically at the end of each step I would like to be in a position to make a career if I decided to stop. (I hope that make's sense)
The steps I am thinking are: 1 ICB Career Path, 2 AAT, 3 ACCA
So basically I am looking for any advice/information if anyone has any to share. This selecting a course business has proved harder then I imagined it would be, but I want to make sure I select the right options.
Many thanks for reading and any advice would be most welcome.
I would think if you did the ICB career path you would not need to do AAT, I am sure Shaun would give advice as per the ICB - ACCA route, you might need to do CAT inbetween.
If you wanted to become an accountant it might be more straightforward to start at AAT, then after you completed that do ACCA. Again others might have prefered methods.
I don't want to put you off the ICB, and actually it could be more flexible learning for you if you are after distance learning. The ICB's examinations are probably the most flexible and readily available in the industry. You could qualify with ICB, become a Certified Bookkeeper, and build your client base as you study towards CAT or ACCA.
I can see what your going for here with your plan and where normally I would suggest going stright from ICB to ACCA (no requirement for CAT but you would not currently get any exemptions from ACCA fundamental level papers via the ICB route).
Going through your planned route lets take a look at the individual steps
ICB - do the exams, set up in practice, take on clients, determine whether to move up the ladder towards accountancy.
AAT - At MAAT MIP you are considered an accountant and this may be as far as you need to go if all that you will be foing is small company accounts and tax returns.
ACCA - A major commitment that will severly restrict what you were previously allowed to do under your ICB and AAT banners! You will only be permitted to do bookkeeping to trial balance, VAT and Payroll where you could offer more services than that under ICB alone.
Going the route that you are thinking of you would get exemptions from some AAT for your ICB studies either directly or via the skills test which will show that you can join at a higher level. (I suspect level III).
Having AAT and going to ACCA will give exemptions from the first three of the 14 papers that you need to pass. However, many still take these papers as you have to pay for them in order to get exemptions and doing them sets you up better for the nightmare exams that follow. (ACCA exams very much build on previous expected knowledge carried forwards from earlier studies).
Expect for ACCA to take between five and ten years to pass.
I think that AAT is a more reasonably two to five years.
ICB will be the quickest but it will set the foundations upon which to build the others so I would advise spending a lot of time concentrating at that level before considering your career further along the line.
If you are a complete new starter I would suggest the OU course B190 as a forerunner to your studies as it's an excellent introduction and will cover much of the ICB material making a training provider for further ICB studies superflous to requirements. (But you will need to invest a bit in books and be motivated to study them dilligently without a training provider pushing you).
It is actually possible to start your studies with ACCA without going through the other qualifications but I think that your route is infinitely more sensible as you will be learning the subject properly rather than simply learning to pass exams which is quite different.
Hope that this helps. Please feel free to post follow up questions.
Look forwards to chatting further,
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.
Over the past 5 years I have worked with sage doing the basics (e.g. invoices/credits, posting payments, credit control etc.) but have never had any formal training. So when I started looking I was thinking of bookkeeping and just while doing research/reading I decided it could be something I could look into taking further, so my steps are sort of a long long term plan. I agree the first step would seem to be ICB, set up and continue from that point.
I agree about the flexibility of the ICB been a big advantage and the ideal schools career path offer seems extremley good value. I think I prefer the thought of a training provider to sort of give it some structure.Most things I have read about Ideal Schools has been positive.
The AAT has a requirement for its students to work under supervision of a qualified accountant for one year. You receive the AAT qualification only once this has been completed.
I'm not sure how you would qualify if you were working for your self.
Ray
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.................just an ICB student, at the moment.
I didn't know it was 1 year under the supervision of a qualified accountant. I was under the impression that you needed 1 year in an accounts environment, so maybe as an accounts assistant or finance assistant doing tasks like invoicing, credit control etc. On the AAT website under submit your work experience it just asks you to fill out your daily duties and then give them the email address of your manager who can confirm this information. If it's under a qualified accountant i better change my plans. Oh by the way i passed Accounts Preparation 1 on tuesday (AAT 3) if anybody's interested lol.
-- Edited by Spamkebab on Thursday 21st of July 2011 02:11:37 PM
I thought although I could be wrong that if you were self-employed doidn the AAT route that you could get an accountant that you do some work for to sign off your stuff. Like I say it was a long time ago I enquired about it so I could be wrong.
Thanks gang! ............I'm currently employed in a small family business and all the accounts go out to an external accountancy firm. I however, have taken it upon my self to do the sales and purchases, payments, reciepts (Sage) and credit control. I was hoping that this would be classed as work experience. ( i also have experience of costings and budgeting in my role as a workshop supervisor for the same firm)
SpamKebab congratulations on passing Accounts Preparation 1.
Dont change your plans till you have checked with the AAT about whether your manager is able to certify your work. I can't find where I read you have to have supervision from a qualified accountant so I'd really recommend getting up to date advice from the AAT.
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.................just an ICB student, at the moment.
Ray2000 thanks for the advice, I really am looking to get me a proper accounts assistant or assistant accountant or bookkeeping position but i am being selective in my applications at the moment. It helps that i already am working. Maybe something will come up. Don Tax thanks for the offer of a chin wag, as you lot have probably guessed i like a good natter. Only thing is, how do i send emails through this site? i can find user details and an email button but nowt happens. OP sorry for hijacking your post.
lol
