UK Accountancy & Bookkeeping training UK


Joined
Jan 12, 2019
Messages
4
Reaction score
1
Country
gb
I run my own company, growing fast and haven't had much luck finding a decent accountant. My wife is keen to do the book-keeping with the aim to becoming a fully qualified accountant long term.

We've looked for courses online but keep coming up with the £10 introduction to bookkeeping courses. Although this may well be the place to start I thought I would ask the professionals. We have children and she currently runs her own business from home too so the courses we have been looking at are all distance learning.

Can anyone recommend distance learning courses and perhaps a bit of a roadmap to eventually becoming a fully trained accountant this way. She will potentially be winding her own business down to concentrate on this as my business grows.
 
Joined
Jan 12, 2019
Messages
4
Reaction score
1
Country
gb
Thank you Becky. Had a look into them, they offer courses over a few days but they all seem to be classroom based. The initial plan is for her to do something basic online and then work up at her own pace for the next couple of years. She has my books to practice on and when little man goes to School something classroom based would probably be more appropriate.

The ''introduction to book keeping'' courses don't seem like too bad of an idea as a starting point. If i'm honest the biggest problem is understanding the qualifications. Some of them may as well be from the Disney university. Any ideas on the names of qualifications she should be looking at as you go through the levels of qualification so to speak?
 

Fidget

VIP Member
Joined
Jan 6, 2013
Messages
527
Reaction score
81
Country
gb
There are 'on demand' classroom courses available online:

For bookkeeping, there's:

* ICB - Institute of certified bookkeepers

For accountancy, the main options open to your wife will be:

* AAT - Association of Accounting Technicians
* CAT - Certified Accounting Technician

These are stand alone qualifications in their own right, but they don't get you qualified.

The qualified options will be:

* CIMA - Chartered Institute of Management Accountants
* ACCA - Association of Chartered Certified Accountants

Both of those are professional qualifications in their own right, with CIMA more geared towards budgeting, forecasting, performance management and reporting, and ACCA more geared towards financial accounting - transactional (bookkeeping), production of P&L/Balance sheet, statutory accounts, tax, audit, application of accounting standards.

Doing AAT or CAT first will get some exemptions from some of the first CIMA/ACCA papers, but it's not many, and it can take a few years to get through AAT/CAT, so it's not worth it in my opinion if the idea is to get qualified - just get straight onto the professional stream of CIMA or ACCA instead - everything at AAT/CAT will be covered.
 
Joined
Dec 27, 2018
Messages
1
Reaction score
0
Country
ng
There are 'on demand' classroom courses available online:

For bookkeeping, there's:

* ICB - Institute of certified bookkeepers

For accountancy, the main options open to your wife will be:

* AAT - Association of Accounting Technicians
* CAT - Certified Accounting Technician

These are stand alone qualifications in their own right, but they don't get you qualified.

The qualified options will be:

* CIMA - Chartered Institute of Management Accountants
* ACCA - Association of Chartered Certified Accountants

Both of those are professional qualifications in their own right, with CIMA more geared towards budgeting, forecasting, performance management and reporting, and ACCA more geared towards financial accounting - transactional (bookkeeping), production of P&L/Balance sheet, statutory accounts, tax, audit, application of accounting standards.

Doing AAT or CAT first will get some exemptions from some of the first CIMA/ACCA papers, but it's not many, and it can take a few years to get through AAT/CAT, so it's not worth it in my opinion if the idea is to get qualified - just get straight onto the professional stream of CIMA or ACCA instead - everything at AAT/CAT will be covered.
give me the website url for those courses
 
Joined
Jan 12, 2019
Messages
4
Reaction score
1
Country
gb
There are 'on demand' classroom courses available online:

For bookkeeping, there's:

* ICB - Institute of certified bookkeepers

For accountancy, the main options open to your wife will be:

* AAT - Association of Accounting Technicians
* CAT - Certified Accounting Technician

These are stand alone qualifications in their own right, but they don't get you qualified.

The qualified options will be:

* CIMA - Chartered Institute of Management Accountants
* ACCA - Association of Chartered Certified Accountants

Both of those are professional qualifications in their own right, with CIMA more geared towards budgeting, forecasting, performance management and reporting, and ACCA more geared towards financial accounting - transactional (bookkeeping), production of P&L/Balance sheet, statutory accounts, tax, audit, application of accounting standards.

Doing AAT or CAT first will get some exemptions from some of the first CIMA/ACCA papers, but it's not many, and it can take a few years to get through AAT/CAT, so it's not worth it in my opinion if the idea is to get qualified - just get straight onto the professional stream of CIMA or ACCA instead - everything at AAT/CAT will be covered.

Thats really helpful thank you. We've sat and looked through our own tax returns this week and think some basic book keeping is probably the best place to start.
 
Joined
Jan 12, 2019
Messages
4
Reaction score
1
Country
gb
oh, and there's a resource that I forgot to mention:

https://www.acowtancy.com/

It has free courses. Two you might want to look at are:

https://www.acowtancy.com/papers/acca-fa/ - this covers double entry bookkeeping

and;

https://www.acowtancy.com/papers/acca-tx/ - covers the nitty-gritty of tax.
Thats really helpful, thank you. This is the sort of starting point I think we were looking for!

The reason I was thinking Book-keeping first was we have an accountant who just isn't available, takes days to get back to us. Moved from another accountant who kept making mistakes on important documents and never really did anything except submit the tax return we put together (At that time it was just my wife who was self employed, now it's both of us) I'm gonna do the basic book keeping stuff too, just to get an understanding. Its really difficult knowing what to categorise expenses as etc so at least if I understand a little about book keeping and my wife gets fully trained in it we don't need to be so reliant on the accountant.
 
Joined
Jan 18, 2019
Messages
18
Reaction score
1
Country
us
If you're determined to do in house, I would suggest starting with the biggest priority first. Start a simple record keeping
procedure, self designed to tell you things that must be recorded to backup any claims that you make. Then, go to the next
big priority, and use the same approach.
You sound like a small business that needs a filing base, a way to keep track of cash and checks - both going out and coming
in. You're also begging for conflicts within your household by having split business interests - your business, then your wife's.
Not good.
Separate yourself from your wife's business totally. Don't take on more than your attention span and your health can handle.
Again, keep your record keeping simple, very simple. Don't think that because you use a notepad, not accounting paper, that
you're doing something wrong. You're not. The main thing is this: if you can look at your record keeping and agree with what
it says, 8 months from now, consistently, you have a good basic accounting system. Maybe not considered a professional
accounting system, but then you're not in business to be an accountant. You're in business to make money.
And by the way, when it comes to doing taxes, your accountant will appreciate a simple, all receipts in a neat and orderly place.
I have found that for small startup, single owner business, female accountants are best. These professionals are not cheap,
but they're patient, reasonable to work with, and very, very detailed oriented. However, this has been my experience, here.
Now for specific topics, ask away.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

traded debt and accounting gain 1
USA US-based Project Accountant moving to UK - what next?! 0
Australia Career change from Bookkeeping/Accounting to Techno Finance 0
USA Trainings 5
USA Bookkeeper program 2
USA Screwed up Accountant 4
USA Bookkeeping Category 2
UK CPD training 0

Top