Hi I was wondering if someone could help me sort the best route to take with regards to training if its needed at all ??????
I have done accounts for the past 13 years but have never received any specific qualification, I am currently the business manager of a nursing home and I've just completed the Level 5 Managers Diploma and it got me thinking about obtaining a recognized book keeping qualification but I just have no clue which is the best way to go. I have noticed there are three qualifications IAB / ICB and the AAT but which is best???? I have been speaking to some pushy guy from the Home Learning College who recommends the IAB but I'm just not sure if I trust his judgment??
As I said I am currently a Business Manager but I'm thinking of relocating with my family and I'm considering setting up as a self employed book keeper in the new location but which is the best avenue to take or do I not need a qualification at all???
If anyone could help I would appreciate it as I'm just so confused and I don't want to make the wrong choice. Thanks for reading my post.
for bookkeeping espechially in a self employed capacity it is not the qualification that matters as much as the knowledge base. The pressure of having to take exams will ensure that the knowledge is ingrained so from that perspective really worth getting qualified.
The professional bodies also help to keep you on the straight and narrow. Ensuring that you have PII cover and that you are covered for MLR cover (available either through a practice licence or direct from HMRC. Without it though you risk unlimited fine plus jail time so definitely one to make sure that you have!).
The real issue with bookkeeping is that you will find clients are really looking for cheaper accountants with very few roles actually ending at trial balance without any advice to clients.
AAT is a great well rounded qualification that is respected in industry and practice both as a bookkeeping qualification and the first step in a career in accountancy. Its the best but is also the most expensive and time consuming of the routes that you have looked at.
ICB and IAB are similar qualifications.
ICB currently seem to be louder in their push to get bookkeeping recognised and respected.
ICB was born out of the IAB. Its a good qualification for self employed bookkeepers but is not particularly useful if you are attempting to secure a job as for employment employers are generally looking for either fully qualified AAT or PQ with one of the accountancy qualifications.
IAB is older than the ICB. There are links between the IAB and IFA which may make a move to accountancy slightly easier if you decided to go down that path.
The normal training providers that we advise people to consider are (in no particular order. Ensure that you look at all of them)
Premier Training (talk to Nick) Eagle Education (Talk to Sonya) Ideal Schools (Talk to Brian) Training Link (Talk to Dave) Woodgrove Tutorials (I've had not dealings with these so don't know the best contact).
Feeling comfortable with your training provider is in some ways more important than the price that you pay with neither the cheapest nor the most expensive being guaranteed to be the best option for you.
Back to the qualification.
Don't believe any hype from training companies about limitless work opportunities and lots of money. It can be a real struggle to find clients and there are always people willing to undercut you on rate with many out there working in real terms for far less than minimum wage.
Stick around here, read all of the posts and you will soon understand what's what and who's who in the industry,
hope that helps get the ball rolling,
look forwards to chatting later,
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.
Thank you very much for your reply, its nice to get a sensible response for once as the Home Learning College just seem to want me to sign up for a course no matter what is was and when I suggested I didn't want to train with them they were very unprofessional but your comments has put a whole new prospective on it for me and given me something to consider.
I would just suggest you do a google search for Home Learning College and then make your own mind up about them. I wont give my opinion on them here!!!
As for other training providers, i wouldn't suggest that you sign up straight away. Speak to a few, and then make a considered decision, after all no matter what course you do, it will be a lot of money. It really is horses for courses, and everyone will have different needs. Make a list of what you want in a provider and find the one which fits you, not the one which has the fancy website, or pushy sales people. Also i would suggest you ask to speak to a tutor as that is who you will be dealing with the majority of time.
As for which body to go for, this has been covered a few times on here, but in short, if you want employment the AAT is the way to go, IAB and ICB are not really recognised by employers.
The ICB and IAB are really good is you want to set up in practice as a self employed bookkeeper as it is quicker and easier to get a practice licence than it is with the AAT, as you will not be covering such a wide amount of information.
The IAB is OFQUAL accredited, unlike the ICB, but the ICB do seem a bit more vocal, as Shaun says, about bookkkeeping, but content wise they are pretty much the same.
Anyway you have come to the right place to get some good advice, there are lots of people, myself included, who have been in the same situation as yourself.
Kind regards
Nick
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Nick
Nick Craggs FMAAT ACA AAT Distance Learning Manager
