In Practice, reference material

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rowets
rowets Registered Posts: 8 New contributor 🐸
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

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  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    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
    whiterose Registered Posts: 49 Regular contributor ⭐
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    Frank Woods Business Accounting
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    disclosure checklists are invaluable
  • T.C.
    T.C. Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙‍♂️
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    St James Tax Guide and the basic cheap guides too, eg FT Personal Tax.
  • rowets
    rowets Registered Posts: 8 New contributor 🐸
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    Thanks for your replies, what about Accounting Standards 'manuals', from experience have you not found them to be a necessity?
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    I've managed with my text books, knowledge and looking them up online
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    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
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
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    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
    Glynis Registered Posts: 488 Dedicated contributor 🦉
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    Why should Frank Woods Accounting manual be hilarious Dean? It's a reference book is it not?
  • Gem7321
    Gem7321 Registered Posts: 1,438 Beyond epic contributor 🧙‍♂️
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    disclosure checklists are invaluable

    Can you recommend any in particular? I've heard mercia are good
  • Steve Collings
    Steve Collings Registered Posts: 997 Epic contributor 🐘
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    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
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    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
    Steve Collings Registered Posts: 997 Epic contributor 🐘
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    I'm sure it's Surebeck.
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    That certainly rings a bell, comes to something when you know what checklists I use before I do!!!
  • Steve Collings
    Steve Collings Registered Posts: 997 Epic contributor 🐘
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    Ha ha! A lot of firms subscribe to those - I used them a few years ago but didn't particularly like them.
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
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    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
    Gem7321 Registered Posts: 1,438 Beyond epic contributor 🧙‍♂️
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    Thanks guys
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