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Hello Everyone
I have spent a few weeks looking at this and other messageboards and believe that I have a rough idea of my plans but I would appreciate some advice (at the risk of duplicating some other posts I suspect, so sorry!)
I will be leaving the Armed Forces (guess which one?!) in 2 years or so and am thinking about taking a completely different career direction
I would like to be self-employed, involve my wife and settle in the west country and am currently looking at book keeping (I do not intend to gain a formal accountancy qualification) as I still need to earn a living, even though I have a pension to fall back on
I have some experience - I have run and audited non public funds, done double entry bookkeeping for them and am reasonably conversant with Excel and simple personal financial packages (Accountz/MS Money etc)
From studying this and other boards it would seem the ICB/IAB route is the correct one and I understand that I need to complete Level 1 and the level 2 courses (manual and computer-based) before I could apply for a practice licence and start work
Is there anyone who could give me some advice on which route to take (IAB or ICB) and the practical differences (if any, I can't really see much from the websites), and whether 2 years is a realistic time to get qualified?
Aslo, I thought it might be useful to offer myself as a free resource to a book-keeping company to gain some experience, on the assumption I get qualified before I leave! Is this a good idea?
Finally I need to work up a buisiness plan - anyone have any experience of doing this or can they point me in the direction of a good (preferably online) resource?
Thanks very much in advance
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- Fellow PM.Dip
- Practice Licence
- 336 posts
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Hi Matelot
I can answer part of your question regarding how long it takes to be qualified enough to get a practice license based on personal experience. It all depends on how much time you will have available to study, and how well focussed you are towards your end goal. I started level 1 manual at the beginning of January this year, and followed with Level 2 manual and Level 2 computerised, and had my practice license ready for 1 May. For information I studied with Ideal Schools and they were fantastic (in fact I am still studying further modules with them now). I also had some experience, which undoubtedly helped, but I also work part-time and had two days a week to dedicate to my studies, and had the determination to get some private clients as soon as possible
Good luck with everything!
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Hi,
I have just started studying with ICB. Before making my decision to study with ICB I looked at IAB and AAT qualifications.
As an 'older' student I found the ICB offered the flexibility I required while working and also raising a family.
I expect to complete levels one and two (and get AICB accreditation) by March 2012, studying 5 - 10 hours a week. However, I'm just starting out so this is just a rough estimate.
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Thanks to all who have answered - some things to consider and absorb
I may return.....!
Thanks again
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Debsie said:
“Hi Matelot
I can answer part of your question regarding how long it takes to be qualified enough to get a practice license based on personal experience. It all depends on how much time you will have available to study, and how well focussed you are towards your end goal. I started level 1 manual at the beginning of January this year, and followed with Level 2 manual and Level 2 computerised, and had my practice license ready for 1 May. For information I studied with Ideal Schools and they were fantastic (in fact I am still studying further modules with them now). I also had some experience, which undoubtedly helped, but I also work part-time and had two days a week to dedicate to my studies, and had the determination to get some private clients as soon as possible
Good luck with everything! ”
Thanks for this - I can see the syllabus but is difficult to imagine how long it takes realistically!
I have seen a lot of good feedback on Ideal on this and other messageboards, so I will definitely consider that route
Good luck with your business!
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James @ ICB said:
“Hi Matelot
We have a few people come from the Armed forces, your experience will help you but there are a few differences you will need to learn before working on UK accounts. So you may find parts of the course very easy and be able to move through it quicker.
We are the ICB, so I can tell you about our benefits, a list of which can be found here: http://www.bookkeepers.org.uk/Membership/Benefits%20of%20Membership and http://www.bookkeepers.org.uk/Membership/Benefits%20of%20Membership%20in%20Practice
Are you planning on studying whilst overseas?
You will probably find that getting an examination centre will be much easier with the ICB, especially overseas as the ICB has over 5,000 examination centres in 120 countries. If you are on duty we can sometimes organise an examination to be taken at your base, although this does depend on your unit/base/schedule etc. Best to talk to ICB if this is needed.
Once you have qualified you could offer your services for free. You can advertise your services on this forum or the ICB has a job vacancies site which you can use to search for this kind of work. You would need to talk to the ICB about getting a license before you did this though.
Business plan; were you thinking of doing this later when you have qualified? If so you could join in membership and get access to the members area and ICB telephone helpline. Also you would be able to access the members area of this forum to talk to other self employed bookkeepers who might be able to help.
Hope this helps
Best of luck! ”
Lots of useful information here - thankyou
I will be studying in the UK and have some spare time to devote to it
Good advice on the membership area, I will work on the business plan in parallel but clearly I will not be able to set up for some time, and after I have a licence!
I understand that if I follow the ICB route I will probably be enrolled as a student member by the course provider so that is probably my next step
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Ray said:
“Hi,
I have just started studying with ICB. Before making my decision to study with ICB I looked at IAB and AAT qualifications.
As an 'older' student I found the ICB offered the flexibility I required while working and also raising a family.
I expect to complete levels one and two (and get AICB accreditation) by March 2012, studying 5 - 10 hours a week. However, I'm just starting out so this is just a rough estimate.”
Thanks
It is so tricky trying to estimate the commitment so your feedback is really useful - I too am 'older'
Good luck with your studies!
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Hello Again
I have been doing some surfing and narrowed my potential training providers down a bit and wondered if anyone has any views on the courses run by the Home Learning College and Open Study College?
My distance learning experience is with the Open University, so any parallels/observations from that point of view would be excellent
Thanks in advance!
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matelot said:
“Hello Again
I have been doing some surfing and narrowed my potential training providers down a bit and wondered if anyone has any views on the courses run by the Home Learning College and Open Study College?
My distance learning experience is with the Open University, so any parallels/observations from that point of view would be excellent
Thanks in advance!
”
I would highly recommend Ideal Schools (although you haven't listed them), I have gained 100% distinction in both level 2 exams through studying with them and I am confident that I will do well in all the level 3's, that I am also studying with them.
As for the two you mentioned, I have no experience with them so I am unable to comment.
Best of luck
Regards
Kerry
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- Member PM.Dip
- Practice Licence
- 115 posts
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I contacted Home Learning when I started, took them a week to get back to me, didn't like the hard sale so settled with Training Link. They have been brilliant, I've always had replies to emails within hours, even late at night and at weekends, the training material is very good. I have had a bad experience with one training provider mentioned somewhere in this thread, I didn't understand the material, their response times were dreadful and I ended up giving up on them and going with training link!! I won't use any other provider now.
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MrsS said:
“I contacted Home Learning when I started, took them a week to get back to me, didn't like the hard sale so settled with Training Link. They have been brilliant, I've always had replies to emails within hours, even late at night and at weekends, the training material is very good. I have had a bad experience with one training provider mentioned somewhere in this thread, I didn't understand the material, their response times were dreadful and I ended up giving up on them and going with training link!! I won't use any other provider now. ”
Thank you for the feedback
Learning is so individual - but it is also really useful to have other people's experiences
All the best
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KerryB said: “matelot said:
“Hello Again
I have been doing some surfing and narrowed my potential training providers down a bit and wondered if anyone has any views on the courses run by the Home Learning College and Open Study College?
My distance learning experience is with the Open University, so any parallels/observations from that point of view would be excellent
Thanks in advance!
”
I would highly recommend Ideal Schools (although you haven't listed them), I have gained 100% distinction in both level 2 exams through studying with them and I am confident that I will do well in all the level 3's, that I am also studying with them.
As for the two you mentioned, I have no experience with them so I am unable to comment.
Best of luck
Regards
Kerry”
Thank you. Unfortunately my funding source does not include Ideal Schools as a training provider (at least at the moment!)
Good luck with level 3!
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