I've found this forum amazingly helpful but I couldn't find any advice about the situation I am in.
I would like to find the right qualification that would cover both of these needs:
1 - My husband will be starting his own business in the future and I would like to be able to take care of the accounts for him (maybe branching out to others but that's not too important at the moment)
2 - I work in admin and a lot of jobs advertise that they would like candidates to have bookkeeping knowledge
I don't really have any accounting knowledge but I do have a degree so I'm confident in my learning capability.
I'd be really grateful for any advice than anyone could offer on the type of qualification that might suit me.
Hi
The are several posts on here which are worth a read, one directly above yours (at the time of this posting) regarding the new qualification ACCA-X is worth a read.
There are a few more if you have a rummage through the site.
Does depend on a couple of things to my mind...what you want to do with any qualification you achieve, whether you want to stretch yourself and your ability. You haven't said what the adverts you have seen are asking for by way of qualification, but best to just have a read and see what you think for starters.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
There are really four main bodies that would cover your requirements :
ACCA-X : Free bookkeeping training but requires you to become a student of the ACCA to take exams. Will cost about £362 in total and unlike some of the other options also covers costing and management accounts. Will take 20 weeks to complete and will lead to exams in the ACCA foundations in accountancy which can be progressed to CAT status which is the same level as AAT.
AAT - will generally take 18 months+ and is currently the best option if you would like to be considered for permanent employed work rather than only self employment (I don't know how ACCA-X will be receieved by the market yet).
ICB - Takes about a year to get to AICB level via distance learning. As time progresses the qualification is slowly moving away from bookkeeping and into accounting territory in order to try and take on AAT. Its a good quality qualification for self employment.
IAB - Similar to ICB. The ICB was formed from the IAB by a breakaway manager (Gary Carter) which has led to years of healthy competition between these two. Currently I would say that the ICB is winning market share against IAB although it will be interesting to see how the market evolves for both of them now that ACCA-X has entered the arena.
From your post you indicate employment as well as the option of self employment.
If in your field employers are asking only for bookkeeping knowledge then any of the above options would be fine.
More usually (look at the Reed Website and do a search) employers specify the qualification that they are looking for which is usually AAT or PQ (PQ means part qualified with one of the higher bodies such as ACCA or CIMA).
Good luck with whatever option you take and remember that we're always here to help... Well, almost always... The contributors here are not paid to be here but rather we're practicing accountants and bookkeepers from all major bodies who just want people like yourself to make the right choices in the minefield of qualifications nd supervisory body rules from the get go.
Hope that you have fun as well here,
all the best,
Shaun.
-- Edited by Shamus on Sunday 19th of April 2015 01:12:02 PM
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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.
crossed in the post but pretty sure that we're singing from the same hyme sheet.
Definitely two good links there to get a feel for the professional bodies and site members varying allegiences.
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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.
Absolutely correct Jo. Oops, I'm going to change that. In my head it read correctly when I wrote it.
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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.
I've read the first post mentioned but it seemed to lead to a choice between self-employed bookkeeping or full on employed accountancy whereas I find myself somewhere in the middle. I am happy to stay in admin for now while helping my husband's business (young family to support!) but if I can use the extra knowledge in my field then why not? :) I must admit I didn't even click on the ACCA-X topic as I assumed it was way beyond what I needed but it actually looks like it might be just the ticket.
The jobs that I've been browsing have mostly just required 'bookkepping knowledge' rather than asking for specific qualifications which is what has made it difficult to decide which route to take. Some adverts mention packages such as Sage or Quickbooks (I think ?!) but I'm guessing Sage is the soundest starting point?
I'm going to look in to ACCA-X more and see if I can figure out where it might lead (another thing I find so confusing - the crossover between all of the different qualifications!)
Brookby wrote:another thing I find so confusing - the crossover between all of the different qualifications!
Hi Bookby,
your certainly not the only one there.
You have now got an ACCA supported qualification that falls within the definition of Bookkeeping (everything up to trial balance) and an ICB qualification refering to itself as bookkeeping that goes all the way through to final accounts and tax returns (which is definitely not bookkeeping).
The issue that we have is that the qualifications are constantly evolving in an effort to win and maintain market share. Which as noted above has resulted in a bookkeeping qualification evolving into an accounting one in all but name.
Even if at a later stage you move onto a different qualification it does seem that you are the target market for the new ACCA-X qualification.
Always remember when you look at these qualifications and worry about their complexity that you always have the people on here always willing to help (although generally we answer questions within a few hours it's always best to allow a two day lead time as contribnutors can be a bit busy at times).
I think that your making a good choice with ACCA-X and look forwards to hearing regular reports on your progress.
kindest 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.
