MIP Application
M_Zak
Registered Posts: 6
Hi everyone,
Just need some advice in 2 areas of the Licensed Accountant application form.
I have previously worked in practice firm of accountants (approx. 6-7 years) but since last year have moved, working for local government.
Whilst working in practice I covered pretty much all areas such as
- Bookkeeping
- Financial accounting and accounts preparation for sole traders and partnerships
- Financial accounting and accounts preparation for statutory purposes
- Management accounting
- Payroll
- Value Added Tax
- Personal income tax
- Business income tax
- Corporation tax
- Capital Gains Tax (some works in this area)
I haven't been updating my CPD over the years does this affect my application? Can I back date and write what I've been doing (or think I've done in certain areas)?
I'm finding it difficult to complete the "Practice management" section. I haven't had much involvement in these areas but I believe I know the processes involved in most of the areas such as
- Conduct of work - Client engagement and disengagement procedures, fees and commission, quality control of client work, ownership of books and records.
- Strategic planning - Business plans, self-employed guide, corporate social responsibility.
- Staff appraisal and development (if applicable) Managing staff recruitment process, identifying learning and development needs for staff, conducting employee appraisals, employee relations.
But don't know what to write on the other areas..
- Legal and regulation Money Laundering Regulations 2007 Data Protection Act 1998 Provision of Services Regulations 2009 Money Laundering Regulations 2007 Equality Act 2010 Bribery Act 2010
- IT policy IT procedures and security, data retention and destruction, Data Protection Act.
- Quality assurance Complaints management, resolving ethical conflicts, Professional Indemnity Insurance.
- Clients’ money Handling client monies and operating a client’s bank account.
Could anyone shed some light? what did you guys write in these areas..
Any advice will be highly appreciated!
Many thanks!
Just need some advice in 2 areas of the Licensed Accountant application form.
I have previously worked in practice firm of accountants (approx. 6-7 years) but since last year have moved, working for local government.
Whilst working in practice I covered pretty much all areas such as
- Bookkeeping
- Financial accounting and accounts preparation for sole traders and partnerships
- Financial accounting and accounts preparation for statutory purposes
- Management accounting
- Payroll
- Value Added Tax
- Personal income tax
- Business income tax
- Corporation tax
- Capital Gains Tax (some works in this area)
I haven't been updating my CPD over the years does this affect my application? Can I back date and write what I've been doing (or think I've done in certain areas)?
I'm finding it difficult to complete the "Practice management" section. I haven't had much involvement in these areas but I believe I know the processes involved in most of the areas such as
- Conduct of work - Client engagement and disengagement procedures, fees and commission, quality control of client work, ownership of books and records.
- Strategic planning - Business plans, self-employed guide, corporate social responsibility.
- Staff appraisal and development (if applicable) Managing staff recruitment process, identifying learning and development needs for staff, conducting employee appraisals, employee relations.
But don't know what to write on the other areas..
- Legal and regulation Money Laundering Regulations 2007 Data Protection Act 1998 Provision of Services Regulations 2009 Money Laundering Regulations 2007 Equality Act 2010 Bribery Act 2010
- IT policy IT procedures and security, data retention and destruction, Data Protection Act.
- Quality assurance Complaints management, resolving ethical conflicts, Professional Indemnity Insurance.
- Clients’ money Handling client monies and operating a client’s bank account.
Could anyone shed some light? what did you guys write in these areas..
Any advice will be highly appreciated!
Many thanks!
0
Comments
-
Hello M ZAK,
Will you be providing all these services?
I have just received my approval for my licence last month and for CPD I just created new CPD this is on going which you will need to keep up dated.
If this helps
Stef Ho
HoKa Accountancy Services1 -
Clients money: will you be dealing with clients money?
If no amend the application and email back to support services.
Usually Solicitors deal with client money for house purchases.
TAXes are usually sent by clients from their own business accounts.5 -
Thanks StefHo0
-
Thanks StefHo0
-
Much more difficult to get sorted these days. I work on the basis of full payment before we will file to HMRC. Client account is then not needed and saves a whole load of hassle.mrme89 said:But tax refunds often hit an accountants client account, with the accountants fee deducted before handing what's left to he client.
Regards,
Burg1
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 323 NEW! Qualifications 2022
- 165 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 88 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership