Been working in finance for over 5 years now and setting up as a self-employed bookkeeper (on hold to HMRC as I type...)
Qualified to Level 3 AAT and working on Level 4 now. Not sure if I'll do ACCA after this or not, it was my plan but have seen a few posts about not being allowed to be self-employed whilst ACCA student (?) so will look into that at a later date.
Not sure what else to put, I hate doing intros for myself!
I'm from a bookkeeping & accounting home study college based in Glasgow, IDEAL Schools, and thought I'd say hello
You've obviously got a plan in place for study and practice, but I thought I'd mention an exemption option via the Institute of Certified Bookkeepers (ICB), where you can set up in practice and offer services in the areas that you are qualified, without having to satisfy any work experience criteria. This would allow you to complete accounts and tax submissions under self-assessment, or for micro and small Ltd. Co's, under FRS102 (section 1A) and FRS105. I'm not sure of your experience, but if you'd like to chat things through, contact me on the below numbers and and I'll advise as best I can.
if we never chat.....good luck with everything
-- Edited by Brian McVean on Wednesday 21st of July 2021 12:06:00 PM
I'm from a bookkeeping & accounting home study college based in Glasgow, IDEAL Schools, and thought I'd say hello
You've obviously got a plan in place for study and practice, but I thought I'd mention an exemption option via the Institute of Certified Bookkeepers (ICB), where you can set up in practice and offer services in the areas that you are qualified, without having to satisfy any work experience criteria. This would allow you to complete accounts and tax submissions under self-assessment, or for micro and small Ltd. Co's, under FRS102 (section 1A) and FRS105. I'm not sure of your experience, but if you'd like to chat things through, contact me on the below numbers and and I'll advise as best I can.
Hi Brian,
but not if the poster wanted to be in the ACCA.
To the ACCA it doesn't matter who else you may be qualified with, if you are working towards their letters then you obey their rules meaning that as John states you cannot go beyond trial balance which is the accountancy bodies view of what bookkeepers do... I know, I've spoken to them myself about the silliness of the scenario where an ACCA person taking several years to pass their exams, getting sign off for 3 years relevant experience, needs then to work for three years in practice before they are allowed to do what someone with the ICB is allowed to do after a few months... Lol. When I was chatting with them I did have to explain who the ICB were (I was nice!).
I would have to dig it out (posted on here somewhere) but the ICB did get a mention in the annual report on accountancy a few years back. The description of them was an organisation whose members stop at trial balance before passing the work on to a qualified accountant... Well, had me in stitches. but that is actually the way that the accountancy bodies still think of the ICB. i.e. anyone less than the AAT doesn't exist.
I'm not as against them now as I was as I think that we have both matured somewhat. In my case now looking at my Accountancy Masters in the rear view I have a bigger picture view and can see that they were trying for an approach of disruptive innovation... I don't think that its really worked as they had hoped but they have lasted the test of time and dug in a foothold in an industry that doesn't want them so good for them.
Hope that life has been treating you well these past few years Brian. I got my ACCA practice certificate (now an FCCA) but I've still ended up working 100% of my time with major international corporations and management consultancies rather than looking after the little businesses which are the one's that I wanted to fix... Turns out though that once you have your letters the big boys take you more seriously and let you fix them as well
All the best,
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.
Im good thanks, glad to hear youre doing well also.
The original poster, Emma, had indicated a doubt whether to continue to ACCA due to the restrictions they place for self-employment, which was why I provided the idea of ICB being an alternative option.
Your rhetoric toward the ICB never changes and can be seen countless times within these threads, so the nature of your reply was to be expected. However, in my opinion, your comments should be taken with a pinch of salt.
Until recently, when ICB Level 4 exams were centre based, ACCA provided exemption from a few of their papers, which I doubt theyd do if they were not aware of who ICB were. I also understand representatives from the bookkeeping & accounting awarding bodies attend semi-regular working groups to discuss industry developments..last I heard, both ICB and ACCA are regular attendees.
We all know that reports can be generated to meet an individuals or organisations agenda, so a vague reference to a report from a few years ago is hardly relevant. The FACT is that many, many ICB Members run successful bookkeeping & accounting practices, offering a wide range of services including taxation services. You or ACCA might not like this, but its a fact that you cannot get away from.
Im good thanks, glad to hear youre doing well also.
The original poster, Emma, had indicated a doubt whether to continue to ACCA due to the restrictions they place for self-employment, which was why I provided the idea of ICB being an alternative option.
Your rhetoric toward the ICB never changes and can be seen countless times within these threads, so the nature of your reply was to be expected. However, in my opinion, your comments should be taken with a pinch of salt.
Until recently, when ICB Level 4 exams were centre based, ACCA provided exemption from a few of their papers, which I doubt theyd do if they were not aware of who ICB were. I also understand representatives from the bookkeeping & accounting awarding bodies attend semi-regular working groups to discuss industry developments..last I heard, both ICB and ACCA are regular attendees.
We all know that reports can be generated to meet an individuals or organisations agenda, so a vague reference to a report from a few years ago is hardly relevant. The FACT is that many, many ICB Members run successful bookkeeping & accounting practices, offering a wide range of services including taxation services. You or ACCA might not like this, but its a fact that you cannot get away from.
Best wishes
Think that you may need to reread my post as I was not being nasty to them. I actually thought that I rather being rather pleasant to them suggesting that they have matured, stood the test of time and that I could see their disruptive innovation approach to breaking into the old boys club but quite happy to open old wounds if that the route that you prefer.
The main report on the profession is produced annually by the Financial Reporting Council (FRC) called "Key facts and Trends in the Accountancy Profession" to my memory ICB have never been mentioned in that as they are not considered an accountancy organisation by the FRC.
The report that I referred to has now moved on the FRC site to a new location here : https://www.frc.org.uk/getattachment/121e3bd1-aef7-4b46-977b-f7057b8c0216/Final-POBA-Review-of-how-accountants.pdf
Just look up ICB in that report. They do get a mention. I'm having difficulty finding any mention of them anywhere else on the FRC site though.
Can you see the difference with what the accountancy profession believed what bookkeepers do compared to what they actually do.
Of course, thats now a very old report and in my initial response I was crediting the ICB as having both evolved and survived. You really should read what I actually wrote rather than making an asumption based upon previous exchanges when they were a much younger organisation.
As I said before, my masters in Accountancy has given me a different perspective on a lot of things and the bigger picture is that they are all just man made institutions who exist purely on the belief system of their followers and of wider society (make them sound like a religion don't I, lol). Society, religion, accountancy bodies, positional hierachy within an organisation all exist by the same basic rule in that they exist only to the extent that others accept their authority. Without that belief system they are nothing.
__________________
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.
