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Is AAT enough?

jow774jow774 Trusted RegularRegistered Posts: 465
Hi,

I recently completed my AAT and have been doing a few tax returns this year, Im hoping to progress this as a business in the future. I just wondered what other MIP's thought about other qualifications and if they think you need them to progress their businesses. Im looking at a few courses at the moment but cash and time are both in short supply, so CIMA and ACCA are definately out for me but does anyone think you need other qualifications to maintain a successful business?

Comments

  • burgburg Experienced Mentor GloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,440
    In short no.

    You could argue that a chartered qualification has a better reputation with the general public but it hasn't held back any growth for me as I am aware.

    My growth has been around 400% over the last 2 years and I am only MAAT. If I was going to do anything it would be ATT as I feel it would add more to my clients.

    ACCA have strict rules and obtaining a practising certificate can be hard. CIMA is more based at industry so there is ICAEW which can be costly to study. ATT does also lead on to CTA.

    I have considered doing ATT but don't have the time at present. There are always plenty on here who are / have studied it though.

    Best of luck
    Regards,

    Burg
  • RinskeRinske Font Of All Knowledge Registered Posts: 2,453
    Wouldn't you need a training contract for ICAEW anyways or am I confused now?

    If I'm right, it might be pretty difficult if you also want to run your own company.
  • burgburg Experienced Mentor GloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,440
    You do need a training contract but there are no restrictions on what you can / can't do in your own business as long as you do not mention the ICAEW.
    Regards,

    Burg
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    Totally agree with Ian.

    I am MAAT, I am studying ATT but have been working full time for myself for 6.5 years now and most clients really don't care what qualifications you have as long as they get on with you professionally and you can do the job.

    If you want to work for yourself then I think chartered quals can be a hindrance not a help due to their more stringent requirements, meaning your goal will take much longer and if all you want to do is general practice then AAT is enough.

    Running a general accountancy practice As a MAAT can be as lucrative as running the identical practice with a chartered qualification, because people buy into you and what you can do, not your qualifications.
  • RinskeRinske Font Of All Knowledge Registered Posts: 2,453
    burg wrote: »
    You do need a training contract but there are no restrictions on what you can / can't do in your own business as long as you do not mention the ICAEW.
    Oh goodies, I didn't know that! Thanks! What a difference with the ACCA then.
  • RASRAS Well-Known Registered Posts: 124
    I agree with Monsoon. If you want to run a relatively small practice, then I am not sure that going on to qualify as an ACCA etc will make a big difference, unless of course you want to carry out audit work as well. I am a member of ACCA and the later papers are largely mumbo jumbo rubbish that you will probably never use again (IMO).

    ATT is a good qualification to take.
  • AndypandyAndypandy Experienced Mentor Registered Posts: 526
    I spoke to an agency yesterday who'd asked me to contact them - the lady was very appolgetic because she'd been to the practice & the boss was adament that she'd only consider AAT folks, not part-qualified ACCA studiers. I've also come across similar situations on the RSM TENON vacancy website this week (hint,hint, the perks are excellent) KPMG are also on the lookout if you fancy ending up in audit/forensic work :)
  • Rozzi RainbowRozzi Rainbow Trusted Regular Registered Posts: 465
    RAS wrote: »
    I am a member of ACCA and the later papers are largely mumbo jumbo rubbish that you will probably never use again (IMO).

    LOL I am currently taking ACCA so have all the "mumbo jumbo rubbish" papers to look forward to! I currently work in practice (employed) and agree that a lot of it is way past anything I'm likely to need, and some is more relevant to industry, but I like learning new things and taking an advanced qualification. And it keeps the doors open if I want to go into another job.
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