Do I need an accountant if I go into self employment?
I'm thinking along the lines of paying my NI contributions and tax and the self assessment forms - I'm very new to this idea so thank you for any advice ;-)
United Kingdom - 6 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
It depends on how well you think you ccan deal with this. Without knowing you, its impossible to say.
Answer 2 :
Go to citizens advice bureu. If it's too complicated then you need accountant, if not do it youself
Answer 3 :
Legally you don't need any professional input to your tax forms etc, but you would prpbably be well-advised to talk to an accountant Get estimates of costs form two or three locally - some might be able to put off asking for payment until you are well established - haggle! Your bank might also be helpful. Don't forget indemnity insurance if you are in business - again, bank might help.
Answer 4 :
No, but I would recommend one. Try and find one that is recommended by friends, and one that ideally is semi-retired (i.e. not sat in an expensive office and looking to make lots of money). You could do a lot of the accounting yourself, you probably won't need much more than a spreadsheet. I started out by buying the special 'do you accounts' type ledger books, but you don't acctually need them. Just be organised and keep all your paperwork, receipts, etc and then file it in some speradsheets. I would suggest that you do use an acconutant to check the figures that you come up with at year end, and perhaps let the accountant submit them for you (or do it yourself online). The more you do (and the clearer it is for your accountant to understand) then the less it will cost you in terms of your accountants time.
Answer 5 :
You don't have to have an Accountant - you could do it all yourself. However, there is no doubt that you will lose out if you don't have an Accountant. An Accountant will make sure that you claim all expenses and allowances that you are entitled to and will probably save you more than his fee. As far as tax and NI are concerned,do what I did. Rather than continually pay Accountants fees for dealing with tax and NI, I found myself a friendly, approachable Accountant who showed me exactly what to do and explained all the paperwork. He does the year end Accounts and is there at the end of the phone if I have any queries during the rest of the year.
Answer 6 :
yes you do need an accountant even if your paying your own tax and national insurance
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Friday, August 1, 2014
Monday, July 28, 2014
Can you become an accountant without going to university?
Can you become an accountant without going to university?
Higher Education (University +) - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I don't think so
Answer 2 :
No.
Answer 3 :
Yes as far I know it is possible. You can start doing your professional exams without having a university degree, it will just take longer because you won't have any exemptions. Get your few years compulsory experience and hey presto! To disagree with one of the answers, there are in fact a few different accounting bodies through which you can do your professional exams, not just CPA. Whilst admittedly it will of course be harder to get hired if you don't have a university degree, it is possible, because at the end of the day you will have the same qualification. It's just you will have less exams to do with a University degree. I have sucessfully obtained accounting positions without a University degree, although I have only went as far as accounts technician for the moment.
Answer 4 :
Most likely. Check this site out and check the exam requirements. You need a CPA to become an accountant. However, many companies will hire you if you're a fresher, but you need to get cpa within X amount of time, depending on company. Even if you're not required to have a degree...almost nobody would hire you if you got no degree. So you could become an accountant, but nobody hire you. http://www.nasba.org/nasbaweb/NASBAWeb.nsf/wpecusm?openform
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Higher Education (University +) - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I don't think so
Answer 2 :
No.
Answer 3 :
Yes as far I know it is possible. You can start doing your professional exams without having a university degree, it will just take longer because you won't have any exemptions. Get your few years compulsory experience and hey presto! To disagree with one of the answers, there are in fact a few different accounting bodies through which you can do your professional exams, not just CPA. Whilst admittedly it will of course be harder to get hired if you don't have a university degree, it is possible, because at the end of the day you will have the same qualification. It's just you will have less exams to do with a University degree. I have sucessfully obtained accounting positions without a University degree, although I have only went as far as accounts technician for the moment.
Answer 4 :
Most likely. Check this site out and check the exam requirements. You need a CPA to become an accountant. However, many companies will hire you if you're a fresher, but you need to get cpa within X amount of time, depending on company. Even if you're not required to have a degree...almost nobody would hire you if you got no degree. So you could become an accountant, but nobody hire you. http://www.nasba.org/nasbaweb/NASBAWeb.nsf/wpecusm?openform
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Monday, July 14, 2014
can you be an accountant without an accounting degree?
can you be an accountant without an accounting degree?
if, say, you have a degree is math instead?
Financial Aid - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Sort of, is a gray area there, but yes, you could work for a CPA or you could just freelance and do the maths to be submitted to a CPA for checking and legal stuff. Many peoples work in accounting that are not CPAs', as I said, it is a gray area. Ask a CPA about internship or somesuch thing, maybe you can just upgrade your degree to a CPA lickety split. Is worth a try if that is what you want.
Answer 2 :
You can work for an accountant entering numbers but you can't be an accountant without a degree. Any information that needs to be sent to the government ,other than tax returns, has to be reviewed and submitted by an accountant and then they need to be a CPA or a CMA
Answer 3 :
yes you can, in fact, they prefer people with math or engineering degrees rather than accounting cause in an accounting degree you odn't actually do much maths. with accounting more math = better I think you can also do some appreticeships but not too sure about that
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if, say, you have a degree is math instead?
Financial Aid - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Sort of, is a gray area there, but yes, you could work for a CPA or you could just freelance and do the maths to be submitted to a CPA for checking and legal stuff. Many peoples work in accounting that are not CPAs', as I said, it is a gray area. Ask a CPA about internship or somesuch thing, maybe you can just upgrade your degree to a CPA lickety split. Is worth a try if that is what you want.
Answer 2 :
You can work for an accountant entering numbers but you can't be an accountant without a degree. Any information that needs to be sent to the government ,other than tax returns, has to be reviewed and submitted by an accountant and then they need to be a CPA or a CMA
Answer 3 :
yes you can, in fact, they prefer people with math or engineering degrees rather than accounting cause in an accounting degree you odn't actually do much maths. with accounting more math = better I think you can also do some appreticeships but not too sure about that
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Monday, July 7, 2014
what being an accountant involves doing?
what being an accountant involves doing?
hello I have recently left school and have decided to study towards becoming an accountant, however I do not know much about what the job involves..Ive anyone who is an accountant or knows alot about the job can tell me about what it involves,how long it takes to become fully qaulified ect it woul be much appreciated. thank you :)
Other - Education - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Contact your local college about accountancy courses, also learn direct have accountancy courses - it takes years to be fully qualified. you will have to start with basic accounts ie book-keeping, vat etc and then work your way up to profit and loss and balance sheets. it is quite involved but if you like maths you'll enjoy it.
Answer 2 :
Accountants Have a bachelor's degree Need a license to use the term CPA (certified public accountant) Have good analytical and math skills Maintain records of assets and debts of clients Calculate their clients' taxes Work long hours between January and April Earn $49,770 per year (national average) About 11 percent are self-employed Other titles used for this occupation Certified Public Accountants Systems Accountants Tax Accountants General Description Accountants maintain records of the assets and debts of businesses and individuals. Some accountants work for individuals. They calculate their clients' personal income taxes and complete the necessary forms that are submitted to state and federal government agencies. Many accountants become Certified Public Accountants (CPAs) by passing a state-administered test. CPAs have more responsibilities than other accountants. They may offer financial management services to companies and individuals. Business accountants establish accounting systems that record the allocation of the organization's assets. They keep records of all financial transactions and use this information to project the financial future of the business. They are also responsible for all records necessary in the preparation of state and federal tax forms. They calculate tax payments and complete the necessary forms to be submitted. Accountants may conduct special studies of inventories, expenditures, and/or collection practices for businesses, governmental agencies, and not-for-profit organizations. They submit recommendations to improve efficiency based on this research. Many people in this occupation are self-employed. Career Cluster and Pathway Business, Management and Administration Career Cluster Business Financial Management and Accounting Pathway Finance Career Cluster Business Financial Management Pathway Government and Public Administration Career Cluster Revenue and Taxation Pathway Hours & Conditions Accountants work 40 to 50 hours a week. They work many extra hours between January and April 15 preparing income tax forms for companies and individuals. Sometimes accountants travel to examine the records of companies. Work Locations Accountants work in offices for businesses, private accounting firms, and the government. Many are self-employed. Pros & Cons Accountants like working with many different people. They enjoy helping their clients make financial decisions. Always having to be accurate and precise may make their work tedious. They dislike working many extra hours at income tax time. CPAs enjoy the prestige of having passed the CPA examination. They enjoy the opportunity to move up into positions of importance in accounting firms.
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hello I have recently left school and have decided to study towards becoming an accountant, however I do not know much about what the job involves..Ive anyone who is an accountant or knows alot about the job can tell me about what it involves,how long it takes to become fully qaulified ect it woul be much appreciated. thank you :)
Other - Education - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Contact your local college about accountancy courses, also learn direct have accountancy courses - it takes years to be fully qualified. you will have to start with basic accounts ie book-keeping, vat etc and then work your way up to profit and loss and balance sheets. it is quite involved but if you like maths you'll enjoy it.
Answer 2 :
Accountants Have a bachelor's degree Need a license to use the term CPA (certified public accountant) Have good analytical and math skills Maintain records of assets and debts of clients Calculate their clients' taxes Work long hours between January and April Earn $49,770 per year (national average) About 11 percent are self-employed Other titles used for this occupation Certified Public Accountants Systems Accountants Tax Accountants General Description Accountants maintain records of the assets and debts of businesses and individuals. Some accountants work for individuals. They calculate their clients' personal income taxes and complete the necessary forms that are submitted to state and federal government agencies. Many accountants become Certified Public Accountants (CPAs) by passing a state-administered test. CPAs have more responsibilities than other accountants. They may offer financial management services to companies and individuals. Business accountants establish accounting systems that record the allocation of the organization's assets. They keep records of all financial transactions and use this information to project the financial future of the business. They are also responsible for all records necessary in the preparation of state and federal tax forms. They calculate tax payments and complete the necessary forms to be submitted. Accountants may conduct special studies of inventories, expenditures, and/or collection practices for businesses, governmental agencies, and not-for-profit organizations. They submit recommendations to improve efficiency based on this research. Many people in this occupation are self-employed. Career Cluster and Pathway Business, Management and Administration Career Cluster Business Financial Management and Accounting Pathway Finance Career Cluster Business Financial Management Pathway Government and Public Administration Career Cluster Revenue and Taxation Pathway Hours & Conditions Accountants work 40 to 50 hours a week. They work many extra hours between January and April 15 preparing income tax forms for companies and individuals. Sometimes accountants travel to examine the records of companies. Work Locations Accountants work in offices for businesses, private accounting firms, and the government. Many are self-employed. Pros & Cons Accountants like working with many different people. They enjoy helping their clients make financial decisions. Always having to be accurate and precise may make their work tedious. They dislike working many extra hours at income tax time. CPAs enjoy the prestige of having passed the CPA examination. They enjoy the opportunity to move up into positions of importance in accounting firms.
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Tuesday, July 1, 2014
I'd like to work in the Middle East. I'm a management accountant and 50 yrs old?
I'd like to work in the Middle East. I'm a management accountant and 50 yrs old?
Can you please recommend any agencies or how I may work in Middle East/Central or South Africa?
Primary & Secondary Education - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
sorry cant recommend any agencies but what i can recommend is go to dubai, its booming and brilliant place :)
Answer 2 :
Read the want ads in the areas in which you are interested or go to you favorite search engine and specify the job and its location./
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Can you please recommend any agencies or how I may work in Middle East/Central or South Africa?
Primary & Secondary Education - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
sorry cant recommend any agencies but what i can recommend is go to dubai, its booming and brilliant place :)
Answer 2 :
Read the want ads in the areas in which you are interested or go to you favorite search engine and specify the job and its location./
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Saturday, June 28, 2014
Any Accountants in there? Can Some Accountant explain what is ment by Matching, Batching and Coding of Invoice
Any Accountants in there? Can Some Accountant explain what is ment by Matching, Batching and Coding of Invoice
Hello Can you please tell me what is matching batching and coding. what does processing of invoices mean and how do you do them if it is in a Hotel industry. It would be great if you can give me a brief explanation of these works. Thank you.
Careers & Employment - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Ok I will try to answer this.First it depends of what type of invoice you are processing> The one from the suppliers or the one issued by the company you work for. Lets say you process the invoice from suppliers. Matching the invoice means to check the invoice against the purchase order/contract and the reception note. It is usually called a 3 way mathching. Initialy you order products or services, so you have a purchase order or a contract where you specify your product/services needed the guantity the price the delivery day etc etc. You send this purchase order to supplier and they send the goods. You make a receiving note/or note of confirmation for services. This purchase order together with receiving note is send to accountants who will wait for the invoice. Once invoice come the accountant make sure everything is on invoice was ordered and actually received. If mistakes you send the invoice back and announce the purchasing department to solve the issue with the suppplier. So this was in simple words the MATCHING. Once you match an invoice and no issues, you record it inthe system ....the software used by the company to process invoices. Some copmanies are also having the purces order and the receiot inthe system.. depends on how they organize the accountancy... Batching is in general the check performed by the system for the total amount of invoice ..but also for receits and other transaction done by the system. In simple words. Batching is an automatic check of the totals in a 2 way system.. and is done by the software. Coding an invoice it giving a specific number to an invoice. This number is given differently from country to country depending on legislation. So you may want to check it for your country. In my country ( somewhere in europe) this number of the invoice is given by a special institution and it is reglemented by low. Also coding can be an internal number given by the system to eah invoice processed ( either a supplier invoice or an invoice issued to a customer).. in this case the number is given automatically by the system in a sequential way. Please note that these are generic answers... in accountacy always depends on company, software used, legislations and regulation. Bu i hope i gave you a slight idea of what is all about.
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Hello Can you please tell me what is matching batching and coding. what does processing of invoices mean and how do you do them if it is in a Hotel industry. It would be great if you can give me a brief explanation of these works. Thank you.
Careers & Employment - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Ok I will try to answer this.First it depends of what type of invoice you are processing> The one from the suppliers or the one issued by the company you work for. Lets say you process the invoice from suppliers. Matching the invoice means to check the invoice against the purchase order/contract and the reception note. It is usually called a 3 way mathching. Initialy you order products or services, so you have a purchase order or a contract where you specify your product/services needed the guantity the price the delivery day etc etc. You send this purchase order to supplier and they send the goods. You make a receiving note/or note of confirmation for services. This purchase order together with receiving note is send to accountants who will wait for the invoice. Once invoice come the accountant make sure everything is on invoice was ordered and actually received. If mistakes you send the invoice back and announce the purchasing department to solve the issue with the suppplier. So this was in simple words the MATCHING. Once you match an invoice and no issues, you record it inthe system ....the software used by the company to process invoices. Some copmanies are also having the purces order and the receiot inthe system.. depends on how they organize the accountancy... Batching is in general the check performed by the system for the total amount of invoice ..but also for receits and other transaction done by the system. In simple words. Batching is an automatic check of the totals in a 2 way system.. and is done by the software. Coding an invoice it giving a specific number to an invoice. This number is given differently from country to country depending on legislation. So you may want to check it for your country. In my country ( somewhere in europe) this number of the invoice is given by a special institution and it is reglemented by low. Also coding can be an internal number given by the system to eah invoice processed ( either a supplier invoice or an invoice issued to a customer).. in this case the number is given automatically by the system in a sequential way. Please note that these are generic answers... in accountacy always depends on company, software used, legislations and regulation. Bu i hope i gave you a slight idea of what is all about.
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Saturday, June 14, 2014
who works in the city and an accountant?
who works in the city and an accountant?
how do u find it, do u blog etc. how are the ppl at your firm and finally - check my 360 profile out
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I've worked in the City before, but not as an accountant. I have checked your 360 out though! Things I like about you: > You hate the tubes. I hate the bloody tubes, too. > You also believe that smoking kills, but looks cool ;-) > You say you love your girlfriend, which is very sweet. The only downside is you slamming people for buying their suits in ASDA when you are 'draped' in Hugo Boss... Come on, don't turn into a pretentious London asshole like the rest of them. Not cool. If you put something unpretentious on your blog, you might be able to redeem yourself ;-) xx Emmie
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how do u find it, do u blog etc. how are the ppl at your firm and finally - check my 360 profile out
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I've worked in the City before, but not as an accountant. I have checked your 360 out though! Things I like about you: > You hate the tubes. I hate the bloody tubes, too. > You also believe that smoking kills, but looks cool ;-) > You say you love your girlfriend, which is very sweet. The only downside is you slamming people for buying their suits in ASDA when you are 'draped' in Hugo Boss... Come on, don't turn into a pretentious London asshole like the rest of them. Not cool. If you put something unpretentious on your blog, you might be able to redeem yourself ;-) xx Emmie
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