I had a feeling it wouldn't be accepted, fingers crossed the IAB might be nicer but as they specify level 3 (even though it doesn't exist anymore!) I suspect not. It really is a bit annoying when you've worked hard for two years only for it not to be accepted, I'm lucky that I didn't have to pay to do it but another lady in my group also wants to work self-employed and I don't think she will be too pleased to have to pay out twice!
-- Edited by Temeraire on Thursday 20th of December 2012 07:30:14 PM
Can someone please tell me if ICB do exemptions for OCR qualifications please (no one seems to know on the ICB forum and I have tried to email them but have had no reply!) I've tried emailing IAB today but that'll take a while for a reply!
I have OCR level one extended which is manual and sage and currently doing level two extended
Level two now has parts of level three integrated in it as OCR decided to discontinue level 3 (which was the exemption required for IAB!)
We have studied:
Preparing and recording financial documentation
Maintaining and Reconciling the Cash Book
Processing Ledger Transactions and Extracting a Trial Balance
Maintaining Control Accounts
Maintaining the Journal
The SAGE part will cover all of the above too
I plan on starting as a self-employed bookkeeper as soon as able, I am disabled and this is my only viable employment option but I'm trying to figure out exemptions and what I need to do to become a member of a professional body so I can get started (eventually aim to continue to study potentially ACCA)
One of the responders was James from the ICB who confirmed that the exemption potential there is not generous... But don't feel downheartened by that , they're not very generous with a lot of qualifications.
As Sheila (Semsley) states in the other thread. Try the IAB as well to see which one gets you the furthest.
Welcome to the forum and looking forwards to chatting as you progress through whichever option you eventually go for.
kind regards,
Shaun.
__________________
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.
That certainly does help! I fully intend to keep studying as far as I can anyway but am going to have to start working to fund doing that. As long as I have the MLR supervision that's the main thing.
Am I right in thinking I can study level 3 IAB myself and do exams as an external candidate?
Edit: ICB have just replied to my email saying that I would get some exemptions but to continue with OCR - which you cannot do as they have discontinued level 3! They won't tell me what level of membership without seeing the certificates though which I don't actually have yet!
-- Edited by Temeraire on Friday 21st of December 2012 12:51:48 PM
As far as I know the IAB will give you exemptions for Associate membership based on your curret OCR Level 2 qualification. This can be upgraded to full Member status once you have completed a full Level 3 qualification. You can still apply for a Certificate of Supervision as an Associate and this will give you your MLR supervision. You would then be able to start advertising to do bookkeeping up to trial balance for your own clients.
Yes you can self study L3 IAB, you may want to also consider their Computerised Accounting for Business qualification. This is a joint qual with Sage so on completion you would have certification from IAB and Sage, it does not have an end exam but is awarded on completion of assignments marked by the IAB. There are two parts to the course - knowledge and skills meaning you learn computerised accounting but you also get the underpinning knowledge to understand what you are doing. They have a whole range of qualifications at level 3 but it can all be found on their website.
