| Ok so you're either thinking about starting your | | | | profession |
| own business or have already got it up and | | | | · to promote training in the principles of |
| running and have managed for a while to get by | | | | bookkeeping |
| managing your own books by yourself and are | | | | · to develop personal study skills and |
| now finding all too much to keep on top of the | | | | improve confidence of those persons who |
| paperwork. | | | | undertake a course in bookkeeping |
| It is an all too familiar position; most people have | | | | · to enable the achievement of a |
| found that they keep telling themselves that they | | | | qualification, which may be used to enhance |
| do it tomorrow or later or at the end of the | | | | prospects for progression into higher levels of |
| week, and before you know it your deadline is | | | | study |
| upon you and your all stressed out to get it in on | | | | · to improve the career prospects of its |
| time, It's time to get help! | | | | members |
| Affordable Professional Help | | | | The ICB is the largest bookkeeping body in the |
| Being a small and/or at home business owner are | | | | world, with over 150,000 members and students. |
| you tired of the lack of affordable professional | | | | By offering career advice and support to |
| help available? So you need to find professional | | | | bookkeepers the ICB has helped many |
| help whom are able to offer such things such as: | | | | throughout the world set up a successful practice. |
| · Free and up to date accounting advice | | | | You cannot buy your way into any of these |
| · Realistic solutions to card payments and | | | | associations, like most trade governing bodies, but |
| cash flow issues, | | | | have to take stringent examinations and also to |
| · A good supply of Bookkeeping | | | | keep memberships you must also keep up your |
| Accounting forms for the small business readily | | | | CPD (Continual Professional Development), and |
| available | | | | also have current professional and Indemnity |
| · Advice with managing online card | | | | Insurances. |
| merchant accounts. | | | | A professional Bookkeeper should be able to |
| · What sort of Accounting software is | | | | answer most of your day to day financial |
| suitable to your type of business | | | | questions, before you need to start thinking about |
| · Tools & Resources helpful to your | | | | a Chartered Accountant, which is when the price |
| Business, those that are current and up to date, | | | | will jump up dramatically. They should be able to |
| to know today, what others will find out | | | | process personal tax returns and give you basic |
| tomorrow. | | | | help with corporation tax calculations. |
| · Where you can access free | | | | In most cases a Bookkeeper should, if unable to |
| spreadsheet bookkeeping templates | | | | answer your questions, then know exactly where |
| · Who run forums where Like Minded | | | | to find the answer or to put you in touch with |
| people, like you, can discuss online business issues | | | | the right person. |
| that are not just financial issues? | | | | Accountants: |
| · That have links to other useful sites | | | | Now be careful here as there are many people |
| · Where you can also advertise your own | | | | out there that can call themselves an accountant, |
| business. | | | | but what you are really looking for is a chartered |
| · The ability to Use the latest of modern | | | | accountant. There is often some misconception as |
| technology to effectively manage your accounts | | | | to the type of accountant needed, or indeed that |
| from the other side of the country without | | | | there are more than one type and below are just |
| massive Technical costs to your or themselves. | | | | two of the main types of Chartered accountants |
| Certified And Accredited Bookkeepers: | | | | there are: |
| It is important that you find a bookkeeper that is | | | | 1. The Association of Chartered Certified |
| certified and accredited Accounting technicians. | | | | Accountants (ACCA) is a British chartered |
| There are many governing bodies but the two | | | | accountancy body with a global presence that |
| most, well known governing bodies are: | | | | offers the Chartered Certified Accountant |
| 1. The AAT (Association of Accounting | | | | (Designatory letters ACCA or FCCA) qualification |
| Technicians) | | | | worldwide. Since Chartered Certified Accountant is |
| - The Association of Accounting Technicians, or | | | | a legally protected term, individuals who describe |
| AAT, is an accountancy organisation with over | | | | themselves as Chartered Certified Accountants |
| 108,000 members worldwide. The AAT is a | | | | must be members of ACCA and, if they carry |
| technician level qualification which entitles those | | | | out public practice engagements, must comply |
| who have completed the exams and obtained | | | | with additional regulations such as holding a |
| relevant supervised work experience to call | | | | practising certificate, being insured against any |
| themselves associate accounting technicians. The | | | | possible liability claims and submitting to inspections. |
| AAT is based in London but there are branches all | | | | - Continual Professional Development - Before |
| over the UK and the rest of the world. | | | | 2005, Continual Professional Development (CPD) |
| Professional recognition | | | | was mandatory only for holders of practising |
| The body is sponsored by four of the UK | | | | certificates and insolvency licences. From 2005, |
| chartered accountancy bodies. These are: | | | | ACCA is extending mandatory CPD to all |
| · The Chartered Institute of Management | | | | members on a phased basis: |
| Accountants (CIMA); | | | | 2. The Chartered Institute of Management |
| · The Institute of Chartered Accountants | | | | Accountants (CIMA) is a UK based professional |
| in England and Wales (ICAEW); | | | | body offering training and qualification in |
| · The Institute of Chartered Accountants | | | | management accountancy and related subjects, |
| of Scotland (ICAS); and | | | | focused on accounting for business; together with |
| · The Chartered Institute of Public Finance | | | | ongoing support for members. CIMA has two |
| and Accountancy (CIPFA). | | | | grades of full membership: |
| AAT versus CAT (Certified Accounting | | | | - Associate - designated by the letters ACMA |
| Technician) | | | | - Fellow - designated by the letters FCMA |
| · The one UK chartered accountancy | | | | To be admitted as an associate a candidate must |
| body which does not sponsor the AAT is the | | | | have: |
| Association of Chartered Certified Accountants | | | | - completed a period of qualifying practice of at |
| (ACCA). This organisation used to be a sponsor | | | | least three years, documented and signed by |
| of the AAT but broke away in order to form a | | | | appropriate witnesses |
| rival body which offers the Certified Accounting | | | | - passed the institute's 15 qualifying examinations |
| Technician (CAT) qualification. The ACCA | | | | - Been proposed and seconded for membership |
| implemented this policy as it wanted a technician | | | | by two individuals who have direct experience of |
| level qualification which followed the same business | | | | the candidate's work experience but who do not |
| model which it did, ie. one with a global presence. | | | | need to be members of CIMA or even |
| · Whilst the AAT is recognised as a | | | | accountants. |
| professional qualification by the Department of | | | | To become a Fellow a candidate ACMA must, in |
| Trade and Industry in the UK, the accountancy | | | | addition, have appropriate experience at a senior |
| professions there, the USA and existing and | | | | level. |
| former British Commonwealth countries, CAT is | | | | Summary |
| not. CAT is a professional academic qualification | | | | It is very important when you look at any of |
| within the ACCA examination structure. AAT is | | | | these professionals to view their portfolio and |
| both a recognised academic and vocational | | | | testimonials to see what experience they have in |
| qualification in its own right. | | | | what industries. For example a bookkeeper or an |
| 2. The ICB (Institute of Certified bookkeepers) | | | | Accountant may have worked primarily for |
| The Institute of Certified Bookkeepers ("ICB") is a | | | | manufacturing companies and yours is an online |
| not for profit organisation that promotes and | | | | business. Although they will understand the |
| maintains the standards of bookkeeping as a | | | | principles, it will take them a lot longer to |
| profession, through the establishment of a series | | | | understand your business and also may not have |
| of relevant qualifications and the award of grades | | | | the contacts and resources easily available to |
| of membership that recognise academic | | | | hand that is relevant to your business. |
| attainment, working experience and competence. | | | | So before you go head long into picking that all |
| Started in the United Kingdom in 1996 the ICB | | | | important Professional help, take the time to |
| has grown rapidly and now has a world wide | | | | interview & research them just like you |
| presence in over 50 countries. | | | | would with an employee or a supplier and ask for |
| The Institutes's objectives | | | | some testimonials from their current customers |
| · to promote bookkeeping as a | | | | that are of a similar industry to yourself. Try to |
| profession | | | | get it right 1st time. But don't worry if you don't, |
| · to enable bookkeeping to gain | | | | because you can always change! |
| recognition as an integral part of the financial | | | | |