In Practice, reference material

rowets

Hi all,

I have just recently qualified as a full AAT member and been granted my MIP licence as well, I have been working as a self-employed bookkeeper/accounts technician for over 5 years now and I do have some practice experience but am scheduled to gain more in the very near future. I would like to ask a question;

What titles would you include in a list of 'a basic set of essential reference books that no accountant in practice should be without'?

I would include Accounting Standards reference books, but I don't know if they are out there for general consumption? I always take the twice-yearly Hardmans Tax Tables as well but I would be fascinated to know what essential accounting/tax reference books anyone else in practice would include, most likely through experience.

Regards to all,
Tim

Monsoon

rowets wrote: »

What titles would you include in a list of 'a basic set of essential reference books that no accountant in practice should be without'?

Tolley's Tax Guide.

whiterose

Frank Woods Business Accounting

Bluewednesday

disclosure checklists are invaluable

T.C.

St James Tax Guide and the basic cheap guides too, eg FT Personal Tax.

rowets

Thanks for your replies, what about Accounting Standards 'manuals', from experience have you not found them to be a necessity?

Bluewednesday

I've managed with my text books, knowledge and looking them up online

Monsoon

The Internet is the most valuable reference material out there!

http://www.hmrc.gov.uk/thelibrary/manuals.htm
The HMRC manuals are particularly useful.

deanshepherd

whiterose wrote: »

Frank Woods Business Accounting

Hilarious!!

Oh, were you being serious?!

Hmm..

Tolley's Value Added Tax is certainly my most thumbed reference book. Tolley's Tax Cases is also pretty handy to have around.

Aside from those two I never open my annual Tolleys Tax Guide (free for ATT members) nor my Hardmans Rates and Tables (can't remember who sends me this, CIOT perhaps..).

Far more useful is the AATs helpline and the same service provided by my fee protection insurer. Plus a plethora of internet links.

Glynis

Why should Frank Woods Accounting manual be hilarious Dean? It's a reference book is it not?

Gem7321

Bluewednesday wrote: »

disclosure checklists are invaluable

Can you recommend any in particular? I've heard mercia are good

Steve Collings

Gem7321 wrote: »

Can you recommend any in particular? I've heard mercia are good

I'm writing one at the moment for a training provider but it won't be out until next year. I can recommend Small Company Reporting who are very good.

Regards
Steve

Bluewednesday

I bought the ones Dean Shepherd recommended, I'm off work at the moment so can't remember what they were - can you remind us Dean? All I remember is that they were very reasonably priced.

@Glynis, Frank Woods is more a student's method of learning double entry it doesn't tend to be one you would use in practice as reference.

Steve Collings

I'm sure it's Surebeck.

Bluewednesday

That certainly rings a bell, comes to something when you know what checklists I use before I do!!!

Steve Collings

Ha ha! A lot of firms subscribe to those - I used them a few years ago but didn't particularly like them.

deanshepherd

Glynis wrote: »

Why should Frank Woods Accounting manual be hilarious Dean? It's a reference book is it not?

It is a reference book, yes Glynis. I laugh because on my first day of studying accountancy at university the lecturer requested that anyone who studied accountancy at A-level and brought their Frank Woods with them should deposit it in the recycling bin on the way out. Never read it since.

If it is template accounts and disclosure checklists you want then Surebeck were a good option when I bought them 5 years or so ago. I have since heard that the checklists are a little cumbersome these days and that Mercia are better constructed. Although I guess you pays your money and takes your chances.

Once you have a base to work from, good software and regular CPD works better for me.

Gem7321

Thanks guys