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Few questions for someone looking at the ICB

  • 3 posts
  • # 97576

Hi,

I am currently looking at studying for the ICB Level 1 and 2 then 3 afterwards.

So far I have had some prices from Reed and Home Learning college, I was wondering if anyone has used these or have better companies to study through?

Is there anything I should consider before starting the courses? anything you have expeirenced?

Regards,

 

Richard

  • Member PM.Dip
  • Practice Licence
  • 157 posts
  • # 97578

Hi Richard

 

I recently completed L1, L2 and L3 (including Self Assessment and Payroll). I used Ideal Schools as my training provider they were fantastic (contact Brian at Ideal Schools he will be able to help). I passed all my exams first time mostly with distinctions. I completed the course in just over four months (all the levels). So it can be done!

I would say that a Training Provider is a good route if you can afford it. Level 1 is quite easy, and if you are reasonably competent in numbers and basic accounting principles it's not too daunting. I would say that Level 3 is most challenging, but not insurmountable.

The key to getting the qualifications is not to leave a large gap between the exams as you will forget things from previous levels and will need to recap and that can be tedious and time consuming.

Also, I believe that the key to learning the principles of book keeping is practice, practice and more practice, until you understand the principle. Don't get bogged down by the need to understand everything too deeply at the outset, it will come with practice and doing examples and exercises.

I hope this helps. This is just my experience and everyone else here will have a different experience and approach.

Are you looking to set-up as self employed?

All the best in which ever route you take!

  • 3 posts
  • # 97579

accountsforme said:

Hi Richard

 

I recently completed L1, L2 and L3 (including Self Assessment and Payroll). I used Ideal Schools as my training provider they were fantastic (contact Brian at Ideal Schools he will be able to help). I passed all my exams first time mostly with distinctions. I completed the course in just over four months (all the levels). So it can be done!

I would say that a Training Provider is a good route if you can afford it. Level 1 is quite easy, and if you are reasonably competent in numbers and basic accounting principles it's not too daunting. I would say that Level 3 is most challenging, but not insurmountable.

The key to getting the qualifications is not to leave a large gap between the exams as you will forget things from previous levels and will need to recap and that can be tedious and time consuming.

Also, I believe that the key to learning the principles of book keeping is practice, practice and more practice, until you understand the principle. Don't get bogged down by the need to understand everything too deeply at the outset, it will come with practice and doing examples and exercises.

I hope this helps. This is just my experience and everyone else here will have a different experience and approach.

Are you looking to set-up as self employed?

All the best in which ever route you take!


 Thanks for the reply Vip,

The last 18 months I was employed in a sales role at an accounting firm, however that came to an end.

Whilst in the role I would always end up helping calculate the VAT returns, projections, bank recon etc etc, so I figured since I have a little time off I would look at this training.

I picked the ICB over the IAB as I was told that the ICB can be used for people wishing to work either self-employed or as an employee of a company, where the IAB was more geared to self-employment. Is this right?

I ultimately would love to work on a self employed basis, however I figured a few years experience may be beneficial and also would give me a chance to build a client base privately.

Did you go straight in to being self employed then?

  • Member PM.Dip
  • Practice Licence
  • 157 posts
  • # 97582

rpmarsh78 said:

accountsforme said:

Hi Richard

 

I recently completed L1, L2 and L3 (including Self Assessment and Payroll). I used Ideal Schools as my training provider they were fantastic (contact Brian at Ideal Schools he will be able to help). I passed all my exams first time mostly with distinctions. I completed the course in just over four months (all the levels). So it can be done!

I would say that a Training Provider is a good route if you can afford it. Level 1 is quite easy, and if you are reasonably competent in numbers and basic accounting principles it's not too daunting. I would say that Level 3 is most challenging, but not insurmountable.

The key to getting the qualifications is not to leave a large gap between the exams as you will forget things from previous levels and will need to recap and that can be tedious and time consuming.

Also, I believe that the key to learning the principles of book keeping is practice, practice and more practice, until you understand the principle. Don't get bogged down by the need to understand everything too deeply at the outset, it will come with practice and doing examples and exercises.

I hope this helps. This is just my experience and everyone else here will have a different experience and approach.

Are you looking to set-up as self employed?

All the best in which ever route you take!


 Thanks for the reply Vip,

The last 18 months I was employed in a sales role at an accounting firm, however that came to an end.

Whilst in the role I would always end up helping calculate the VAT returns, projections, bank recon etc etc, so I figured since I have a little time off I would look at this training.

I picked the ICB over the IAB as I was told that the ICB can be used for people wishing to work either self-employed or as an employee of a company, where the IAB was more geared to self-employment. Is this right?

I ultimately would love to work on a self employed basis, however I figured a few years experience may be beneficial and also would give me a chance to build a client base privately.

Did you go straight in to being self employed then?


 

Yes, my goal was always to go straight to Self Employed and that's what I have done. I believe that ICB is also the best route for running your own practice. ICB is more proactive than IAB when I researched for my needs. Majority of people who go the ICB route tend to go self employed.

With your experience, the level 1 and 2 will be a breeze, as you have already had bookkeeping exposure.

I am also in the process of doing my Level 4.

Thanks

  • Student
  • 58 posts
  • # 97583

Hi Richard,

ICB has 3 massive advantages over most of the other professional bodies.

Firstly you are not tied to any particular training provider, you can self study if you wish.

Secondly you can sit exams when you want, you are not tied to an academic year.

Thirdly there is no requirement to be employed by an accountant during your studies.

Cheers

Eb

  • 3 posts
  • # 97587

Think I will go down the ICB route, thanks for the advice.

Hope your business is going well Vip, the website looks great.

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