Forum

• # 72736
• Sat 02 Jul 2011 01:53 PM

Hi ... I have been looking in the job vaccancies section of the ICB, and have come across many positions that say at the end "Associate members can not do end of year adjustments or prouduce end of year accounts" ...or words to that effect!

I'm not quite sure what this means? .... I'm currently setting up my own business and I'm wondering if this means that I cant do end of year adjustments or reports for my clients?... even though i covered it inmy course?!

Any help in understanding this would be much appriecated
Mant Thanks

• Manda
• 
  Quote
  

• # 72737
• Sat 02 Jul 2011 03:05 PM

Are these for limited companies or partnerships? For sole traders I didn't think there would be a problem.

• . http://www.smbps.co.uk/
• 
  Quote
  

• # 72751
• Sun 03 Jul 2011 08:27 PM

Hi Peasie..  Thanks for replying, Yes they were LTD companies... I was just wondering as I didn't want to do any end of year reports if I'm not supposed to!!

Thanks

• Manda
• 
  Quote
  

• # 72794
• Tue 05 Jul 2011 06:22 PM

Hi Manda,

Associate Members are only supposed to do work up to Trial Balance level for Limited Companies, I think that's what it meant.

I don't know if Associate Members can do end of year reports, depends on what sort of reports you mean I suppose.  One of my clients asks me to print off a P & L report at the end of every month so that he can check to see how the business is going.  I don't know if this is allowed or not?  Or does that come under Management reports?  Before I joined the ICB I used to do KPI reports at the end of each month for one of my clients who was a Partnership (not working for them any more as they emigrated Down Under!).  These involved monthly turnover, gross profit figures as percentage of turnover, net profit figures as percentage of turnover, comparison with the previous year's figures, debtors and creditors figures etc.  Not sure if this would be allowed as an Associate Member either.  Perhaps James will come along and give us some answers 

Pauline

Edited at 05 Jul 2011 06:25 PM GMT

• 
  Quote
  

• # 72829
• Thu 07 Jul 2011 12:28 PM

Hi Pauline,

Thanks for your reply, the thing is I'm doing my husbands books at the moment and have come to the end of the financial year. (And I am setting up on my own) I was looking at some of the job vacancies and for the LTD companies it said that Associate members...(as above).... and it got me thinking that maybe I shouldnt be doing things like end of year adjustments, and reports etc?! Even though i covered these in my course and it was in my exam??!!!

I suppose I just want to be sure that for sole traders I'm doing it correctly!

• Manda
• 
  Quote
  

• # 72831
• Thu 07 Jul 2011 01:58 PM

Hi Manda,

It's ok to do year end accounts and reports for sole traders if you are an Associate member, but not Limited Companies  :-)

You can work for Limited Companies as an Associate but you can't do year end stuff.

Good luck with whatever you decide to do  :-)

Pauline

• 
  Quote