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Legal Bookkeeping

  • Fellow PM.Dip
  • Practice Licence
  • 256 posts
  • # 70037

Hi Does anyone know if there is any text book for the legal bookkeeping exam?

Thanks

  • 6 posts
  • # 70039

Hi Lady M

I have been using Accounts for Solicitors 2010/2011 (CLP Legal Practice Guides) which gives a good grounding in the accounting needs for solicitors.  However it is costly, around £29, and there may be others that are less expensive.

Allen

Edited at 05 Apr 2011 01:41 PM GMT

  • 44 posts
  • # 70040

I believe that Geoff may be writing this book..... Unless my mind is playing tricks on me.

Geoff, am I right?

  • 180 posts
  • # 70042

When the Legal Bookkeeping course is released there should be no need to purchase other books or pay for other training to achieve competence in the subject (in my opinion!)


Geoff

  • Fellow PM.Dip
  • Practice Licence
  • 256 posts
  • # 70044

Thank you all for the replies, just one question Geoff, will this be a course run by ICB/other education provider or is it like a self study book you are writing?

  • 180 posts
  • # 70045

The course has been written by me and will be released under the ICB umbrella as a home study course.

There are asignments throughout with a final assesment.

Support will be by telephone and email.


Geoff

  • Fellow PM.Dip
  • Practice Licence
  • 256 posts
  • # 70046

Perfect! Thanks for your help Geoff Smile

  • 4 posts
  • # 71512

Removed by S Wildman for advertising violation



Edited at 29 May 2011 02:39 PM GMT by Stuart Wildman (MODERATOR)

  • 180 posts
  • # 72586

News of the Level III Legal Bookkeeping course -

http://www.bookkeepers.org.uk/News/1323


  • Practice Licence
  • 698 posts
  • # 72598

>
> Mmmmmmm advertising violation perhaps


Hehehehehehehehe
>
>

  • Member
  • Practice Licence
  • 495 posts
  • # 72600

Geoff said:

“News of the Level III Legal Bookkeeping course -

http://www.bookkeepers.org.uk/News/1323




Sounds like an interesting course Geoff!

I'll add it to my list of 'must do's'

Smile 

  • Fellow
  • Practice Licence
  • 109 posts
  • # 72893

Ok Naively perhaps Geoff you are the best to answer this. What is covered in the legal Bookkeeping course. I was networking and came across some solicters who may need a bookkeeper but I said that I imgained they needed one qqualified in legal bookkeeping but I then I realised I didn't know what is covered.

Go on Geoff - sell it to us (it is an ICB course after all). I did see the news letter.

Thank you for all your hard work.

REgards
Clare

  • 180 posts
  • # 72894

OK no problem.

The quickest way to get an overview is to take a look at the syllabus which you can find on the home page - strangely enough it is under syllabuses (although maybe it should be syllabi?).

In essence it will cover everything that anyone working or intending to work in the accounts department will need to know about legal accounting. It includes administrative matters - for example the regulatory structure, the information that will probably be needed to open up a new matter on "the system", client accounting, office accounting, petty cash, vat, work in progress, invoices, credit notes and also revisiting profit and loss and balance sheets.

Yes this is a Level III qualification and everyone should know about P&L and BS at this level but it doesn't hurt to revisit these now and again especially in the context of a new environment.

The course also covers disbursements - I don't want to give too much away in this area (a little knowledge being a dangerous thing), suffice it to say that this particular subject is probably the most disputed area that I have come across in the profession and is the cause of many an argument.

As you will have seen from the newsletter I have been working in legal accounts since 1979 and I have to be honest and say that I was surprised to find when I was writing the course how many technical areas there are which I take for granted.

The course is the only one of its kind, there is another institute which is dedicated to legal accounts and administration - however they are not a recognised body which means that their members are not regulated in the same way as the members of the ICB are and cannot therefore be accountancy service providers on the back of their qualifications (unless they go down the HMRC route).

Time will tell - but I would like to think that that legal profession will embrace the qualification with open arms. I do know that the Solicitors Regulation Authority have given favourable comments on the original draft.

Also it is a home study course and home examination which should please the members who do not like (or have the time) to go to a local centre.

SOLD????

edited spelling errors



Edited at 10 Jul 2011 07:08 PM GMT

  • Fellow
  • Practice Licence
  • 109 posts
  • # 72895

Sold - in fact I will take 2!

Thank you Geoff.

I was reading about disbursements the other day, I think via HMRC VAT pages but my head was spinning. It sounds like a good extension of the level 3 which I am studying now.

The sylibus page was good and explained a lot as well.

I will add it to my shopping / to do list.

Regards
Clare

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