Industry to practice crossover

Paulie

Morning everyone,

(I'm 38 yrs old, AAT qualified albeit 10 yrs ago and completed F level papers of ACCA)

After years of working in Industry as a Management Accountant, I would finally like to take the plunge into practice, with the ultimate aim of working for myself.
As you can imagine I am struggling to find someone to take me on, despite me willing to drastically reduce my salary.
I've spoken to some practices, who inform me they will require me to do a bookkeeping test before considering my application.

Can anyone tell me what is likely to be in a bookkeeping test?
What would my main role/s likely to be when starting out in practice?

Thanks in advance

reader

Bookkeeping test will probably be similar to AAT level 2/3, i.e. DR's, CR's, journals, accruals, prepayments, credit notes, etc.

Using Sage, Xero, VT, etc

What is the job title of the role you are applying for?

Paulie

Hi,

Thank you for replying - seems pretty obviously now you've given the answer!

Job role is part qualified accountant

reader

Part qualified accountant would probably:
1) Prepare accounts for sole traders, partnerships, and limited companies using the clients own primary documents (invoices, bank statements, etc) or client's bookkeeping software (eg sage, xero, etc)
2) Prepare tax returns for sole traders, partners and company directors
3) Prepare corporation tax returns for limited companies
4a) If you are quite junior you would probably do some bookkeeping/vat return/payroll work
4b) If you are quite senior you would probably supervisor/help the juniors

What do you do in industry?

Jenbo

I too am in industry, every job advert says must have practice experience making it impossible to gain entry into practice

reader

Jenbo said:

I too am in industry, every job advert says must have practice experience making it impossible to gain entry into practice

I think this is a bit of an exaggeration

I know of instances where the ACCA have given out practising certificates to members with sufficient industry/in-house experiences

Jenbo

Well I am always looking and have been for years but all the jobs from my area all state it us a must.

reader

Jenbo said:

Well I am always looking and have been for years but all the jobs from my area all state it us a must.

Fair enough.

I guess it depends on where you are in the country too and how many job vacancies there are in your geographical area. I guess potentially they could all ask for practice experience (especially senior roles). Although I doubt the junior jobs require practice experience but then again the junior jobs are badly paid. Catch 22.

Paulie

Thank you both for your input. It's much appreciated!