Part of the Starting an Accountancy Practice Series
As any accountant knows, the world of accounts and tax is huge; you cannot be expected to know it all. During our career we may move around the world of accountancy specialising in different fields or working in different sectors. For some the time comes when they may want to return or enter the world of an Accountancy Practice offering accounts and tax services to clients. When that happens it may be time for the accountant to refresh their skills and increase their experience to ensure that they provide the best service possible to their clients.
But how do you go about that?
One effective way to refresh your accounts and tax knowledge would be to pick up some Study Packs and do some practice questions.
For accountants operating as a sole practitioner serving “one person” businesses with relatively straight forward accounting needs then one of the better resources to use are the AAT study packs.
Specifically the following would be useful as they cover the areas of tax that you are likely to encounter:
Having refreshed your knowledge it would be good to get some practice before you get going on your real clients. Of course you’d want to do this under supervision and make sure that you are getting things right. Feedback from a supervisor would be great too. It’s vital to create the right learning environment which will give you the confidence to go onto servicing your clients.
The challenge is to find someone who will give you the work experience you need. Here’s some hints and tips to help you with this …..
- Write a list of what areas of accounts and tax you want the work experience in being very specific about where you have knowledge gaps
- Work out what you can give in return for someone making the effort to provide the work experience and feedback to you; sell yourself to them. Put yourself in their shoes – what’s in it for them
- Write a (short) profile advert that will attract someone’s attention. Tell them about yourself, what are you hoping to achieve both in work experience and for your accountancy practice. Include contact details and a photo of yourself. Think of it like doing a work experience LinkedIn Profile
- Socialise your profile advert on your social media channels asking friends, colleagues and relations to share it
If you want to share your need for some work experience then email me the link to your profile advert and I will share it on my social media or I may email you back with some hints and tips to improve your profile advert to sell yourself!
Worth it in the end
Starting an Accountancy Practice is hard work. It takes dedication and commitment along with patience. Clients will slowly onboard and you should allow 12 to 18 months to get your accountancy practice to where you want it to be. I started CheapAccounting.co.uk 11 years ago and built it slowly at first. Then it really took off and I opened it up to other accountants. I haven’t looked back and love the fact that the network of CheapAccounting.co.uk accountants provide a personal service to clients at a price that they like and can afford. Not all of the accountants come to us with experience of working in an Accountancy Practice; most have learnt the way of things with our help, guidance, coaching and mentoring.
Everyone starts somewhere but you won’t get anywhere if you don’t get started!