AAT BUT NO JOB IN Accountancy
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I did some quick T accounts on scrap paper this morning to see all that all my different payroll entries were being properly accounted for!0
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I often write journals out as well manual to make sure they are correct.
And am currently trying to do a bank rec for one of our foreign banks. (It just won't match!) And that is also something we still got to do manual, because the new system doesn't check anything other then the amount and doesn't care about the date of payment/ cheque number or anything alike. In the system I just get a list of all transactions and literally have to tick them to consider them matched up!0 -
I thought they will file all those thing in separate file all you do put the number in it in that way you do double entry but not realising it I can not imagine to draw T account in accountant firm0
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exam panic wrote: »I can not imagine to draw T account in accountant firm
Not to actually keep the books, but as others have said, I often draw up a T account on paper if something is boggling my brain!
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I think This post changed its direction I have to make other one .0
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exam panic wrote: »I can not imagine to draw T account in accountant firm
I use T accounts quite alot to check things, they are extremely useful. At year end when you need to reconcile the control accounts, to do a "real time" bank rec, alsorts of things. I dont work in practice, but surely accountants reconcile control accounts the same way. I was always taught not to rely entirely on computers due to the fact that its a human who puts the info in!0 -
exam panic wrote: »I think This post changed its direction I have to make other one .
Threads nearly always do this once they've run out of steam so no need to start another one on exactly the same topic. I think your original question has been answered and a lot more besides.0 -
We do alot of journals by hand, for example i had already posted the credit statement but then late receipts came in so i had to do journals to put the vat in the correct account and so the management accounts would be correct. We have to keep these in a monthly file as our auditors like to see them..0
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we do journals on excel before putting it onto sage each month to check it all balances properly first0
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allright that you have to journal and t account who do the p/l ???0
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exam panic wrote: »allright that you have to journal and t account who do the p/l ???
what?0 -
back to the OP, I think for an AAT person the job in practice is ideal as you learn a lot, but only for a short period, then it's better to move into industry.
After working years in practice, I'm a bit fed up, it's so hard to deal with multiple companies and it's helish when most of those are messy and you have to spend extra time to sort everything out.
The advantage to work in industry is that you deal with 1 company (you are going to know it inside out) and they pay you more. Practices don't pay a lot, as wages have to be in line of how much you charge to clients)0 -
Not to mention that wealthier companies will tend to employ their own accounts people, and the more technically skilled you become the further you can rise up these heirarchies.0
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Some larger organisations also may wish to influence the contents of accounting standards as well as influencing new legislation. as you climb the ranks in such organisations you may get the chance to participate in these exercises.
For example my employer actively encourages me to: sit on a Technical Panel which acts as an advisor to the Welsh Assembly Government on draft public sector finance legislation; to be a member of the Chief Society of LA Accountants who have a direct input into Public Sector Accounting Standards; to be active in a pressure group hosted by ACCA Wales on Environmental Reporting; and to support the activities generally of AAT, CIPFA and ACCA.. It is part of my job to keep an eye on financial and accounting developments and ensure that not only are we fully informed, but that we are at the forefront of the development and influence the progress where we can.
I know I am a Departmental Head, but this work, and the opportunity to get involved, is shared by all my staff. This kind of work takes job satisfaction to a whole new level beyond balancing a balance sheet (if you enjoy technical accounting).0 -
"Not to mention that wealthier companies will tend to employ their own accounts people, and the more technically skilled you become the further you can rise up these heirarchies. "
But it does get boring & you have to deal with office politics regularly, & other accounting staff don't necessarily like AAT'ers doing well on unit 10 (just a workplace observation).0 -
Boredom levels and office politics are irrespective of sector and more to do with the way an employer chooses to run their business and the way people within it conduct themselves.
Outside practice, you can diversify into public sector, financial, management, cost or any of the other forms of accounting. You can also become a hybrid accountant by taking on other roles beyond the finance one. You can become a big fish in a small pond and personally help a company grow from tiny roots (which can be immensely satisfying) or a medium fish in a very big pond.
Nothing against practice, but just doing other peoples accounts on a less personally involved level has no interest for me at all, but it's ultimately horses for courses.0 -
Nothing against practice, but just doing other peoples accounts on a less personally involved level has no interest for me at all, but it's ultimately horses for courses.
I agree, plus since you don't work for their company, it's also more difficult to understand (and prepare) their accounts...
As I said before, a job in practice I think it's for short term whilst you are student/new member and you need to get practical experience, then it's time to move on..0 -
Nothing against practice, but just doing other peoples accounts on a less personally involved level has no interest for me at all, but it's ultimately horses for courses.I agree, plus since you don't work for their company, it's also more difficult to understand (and prepare) their accounts...
As I said before, a job in practice I think it's for short term whilst you are student/new member and you need to get practical experience, then it's time to move on..
Really interesting to read the other side of the fence! The closest I ever got to industry was a 1.5 day a week bookkeeping appointment with mgmt accounts and I hated it! I found it very boring and frustrating. I much prefer the variety of practice (and indeed of being my own boss). You don't get to get into the nitty gritty of all clients but we mostly work with micro-businesses (OMBs under £100k t/o) so you do get to be reasonably in depth and I enjoy the tax planning and talking to so many different people.0 -
interview
Horray - I have another interview on Friday morning with the University and another possible one lined up soon as a recruiter sent my CV over yesterday. I hope something positive comes out of this 0 -
I much prefer the variety of practice (and indeed of being my own boss). You don't get to get into the nitty gritty of all clients but we mostly work with micro-businesses (OMBs under £100k t/o) so you do get to be reasonably in depth and I enjoy the tax planning and talking to so many different people.
Yes, this is the good side of working in practice, you can talk about different companies, see different accounting situations, plus if you are your own boss is a bonus! It's not that exciting if you have to work under someone else's rules....especially when those ones are silly and takes more of your time! I think the work in practice is interesting if you do also the bookkeeping, not just year end process, so you would get more involve in your client's companyHorray - I have another interview on Friday morning with the University and another possible one lined up soon as a recruiter sent my CV over yesterday. I hope something positive comes out of this
Good luck!!0 -
Fingers crossed for Friday!0
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Hi all,
I have searched high and low through forums and as you all were discussing starting your first job I thought this may be a good place to ask.
I have studied level 2 aat and have nearly completed level 3, currently I am talking to a charity to help gain some experience but as I have friends who have a couple of years experience and completed level 3/studying technician, what can we do on our own? As none of us have technician yet we can't apply for full MAAT yet but is it possible to still prepare account for sole traders/partnerships and do general bookkeeping for them trading as a business, we would be part time in the evenings so would just use it as a small extra income until the opportunity arises to start fully. I have looked at the ICB and they say you need affiliate status but their levels seem very similar to what I have already studied so does my current student membership cover me if I want to do my own work etc.
Thanks for your time in advance0 -
davidbassett wrote: »Hi all,
I have searched high and low through forums and as you all were discussing starting your first job I thought this may be a good place to ask.
I have studied level 2 aat and have nearly completed level 3, currently I am talking to a charity to help gain some experience but as I have friends who have a couple of years experience and completed level 3/studying technician, what can we do on our own? As none of us have technician yet we can't apply for full MAAT yet but is it possible to still prepare account for sole traders/partnerships and do general bookkeeping for them trading as a business, we would be part time in the evenings so would just use it as a small extra income until the opportunity arises to start fully. I have looked at the ICB and they say you need affiliate status but their levels seem very similar to what I have already studied so does my current student membership cover me if I want to do my own work etc.
Thanks for your time in advance
Bookkeeping would be a good place to start, and build up experience.0 -
Hi thankyou for your reply, and we can do that without some sort of practise license until I have completed level 4?0
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davidbassett wrote: »Hi thankyou for your reply, and we can do that without some sort of practise license until I have completed level 4?
Yes.
The AAT allow student members to practice without a licence as long as:
You operate within your competence
You seek help on things you are not sure of
You do not make any reference to the AAT
You also need to:
Register with HMRC for MLR regulation and pay their fee
Register with the ICO for data protection and pay their fee0 -
Good Morning Folks
I just wanted a bit of advice here -
I work as a credit controller (a fancy name for a debt collector!). This is the only accounts experience I have. I have been doing credit control for years! Would this count as part of my work experience for the AAT qualification?
If not, what is the best way to come out of credit control and go on to 'better' things such as being an accounts assistant, assistant accountant, sales leger or purchase ledger clerk?
Any advice would be grately appreciated.0 -
Hi Geek84,
Yes this would count as part of your work experience for the AAT qualification, and as you have been doing this for years I am sure this would be enough for full membership to the AAT.
Hope this helps0 -
Many thanks Oli.0
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