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Post Info TOPIC: Set up own business


Newbie

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Set up own business


Hallo,

i completed MSc in accounting and finance and planning to start own business. do i get any exception?



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Master Book-keeper

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Exception from what?


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Joanne McCormick

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Newbie

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Exception for ICB.

thx

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Forum Moderator & Expert

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Hi Rajah,

well done on completing your MSc. although it does sound as though an MBA may have been more applicable as you are asking the question here.

An MSc in accounting whilst showing deep understanding of more advanced topics such as M&A and financial instruments does not really have direct relevance to bookkeeping, or even SME accountant, work. Was the MSc. on the back of a professional qualification? What business are you looking to set up?

Shaun.

p.s. Morning Joanne :)

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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.



Forum Moderator & Expert

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Ah, penny drops... Think that you want the ICB's forum. This one is non professional body specific... Although we do generally try to guide newbies toward the AAT.







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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.



Master Book-keeper

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So you have positioned yourself at the top of your game with an Msc but do not want to progress a career at the same top level?

What about experience???



Morning Shaun.
I thought the same.




-- Edited by Cheshire on Saturday 11th of November 2017 10:46:42 AM

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Joanne McCormick

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Newbie

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Hallo Shaun,

Thank you, yes it does have direct relevance to bookkeeping but i am planning to starting small accountancy consultant ltd so i can do the paper work for Sole Trader Accounts , Tax Returns ,Corporation Tax Returns, VAT Quarterly Preparation and Monthly Bookkeeping. i thought if i have ICB practice license its looks more posh or it may be attractive to clients.

could you give me some advise please.

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Newbie

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i do have a experience in accounts last 2 years

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Master Book-keeper

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Hi Rajah
Perhaps we should start again. We usually ask newbies for a full intro and so far we have elicted a little of the information we normally ask for.

So perhaps you could provide the rest - you say you have experience in accounts - can you expand on what that means as lets face it it could just mean you have been a sales ledger clerk for two years. Are you already a member of a prof body (having worked in Accounts). Do you have any other exams in bookkeeping and Accountancy? What was your actual degree in and was this prior to your two years accounts experience?

Given Shaun has experience of the MSc I think its fair to say its as far from bog standard bookkeeping as you can get.

I would suggest if you are looking to be an Accountant then joing a bookkeeping organisation and one that is rarely acknowledged by Accountants would not look posh nor attract clients.

Last Q - sorry theres a few - what tax specific subjects have you covered in your studies or are you planning to do?

Can you add your name so that it appears under the signature bar on your posts? (there seems to be a full stop under the sig bar, although I keeping thinking its a mark on my PC! wink)



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Joanne McCormick

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Forum Moderator & Expert

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Date:

rajah wrote:

yes it does have direct relevance to bookkeeping


What topics did your MSc cover?

My understanding is that MSc's do not touch upon any of the elements that you are looking to use to set up in practice.... Which would of course explain why you are looking to supplement your qualification with an entry level qualification. But if thats the case, why would you be looking for exemptions from studies where surely you should be looking to gain as much knowledge on the basics as possible.

My advice, despite your advanced qualification would be to do AAT and don't skip anything even level II.

Shaun.



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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.



Master Book-keeper

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Posts: 6897
Date:

..........



-- Edited by Cheshire on Saturday 11th of November 2017 12:32:05 PM

__________________

Joanne McCormick

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

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