I see this as a sign. I have been pondering the future of the accountancy profession for a while and wondering if it is time to start a new career in Law OR move into management accounting.
I detest paying out so much money on studies and subs only to end up pitting myself against the plethora of unregulated 'accountants' out there.
Working in an unprotected profession is bad enough but a lot of business owners also now do their own books in the belief that paying for accounting services is a luxury, an indulgence. A friend of mine likens having an accountant to hiring a cleaner for a flat.
Now, we have this monthly pre-populated thing. So where does that leave SME accountants like me? In the gutter of uncertainty, that's where. Most of my clients are consultants - one man businesses - and locum doctors. Quite a few are savvy. One is already asking if my fees will go down to reflect the fact that he can now easily do the work themselves as if paperwork is all accountancy is about. Looks like all the included tax consultancy services my practice provides no longer matter. After all, HMRC and Gov.uk have all the answers.
A former business partner took up employment last month as a management accountant because accountants within big companies had more clout than the practicing cuckoos out there. I'll hate to return to employment, however, with a family to support, this moment looks like the time to return to the classroom whilst I still have enough clients to cover the bills. It's a toss up between MBA, CIMA or Law.
My answers
Time to make a move
I see this as a sign. I have been pondering the future of the accountancy profession for a while and wondering if it is time to start a new career in Law OR move into management accounting.
I detest paying out so much money on studies and subs only to end up pitting myself against the plethora of unregulated 'accountants' out there.
Working in an unprotected profession is bad enough but a lot of business owners also now do their own books in the belief that paying for accounting services is a luxury, an indulgence. A friend of mine likens having an accountant to hiring a cleaner for a flat.
Now, we have this monthly pre-populated thing. So where does that leave SME accountants like me? In the gutter of uncertainty, that's where. Most of my clients are consultants - one man businesses - and locum doctors. Quite a few are savvy. One is already asking if my fees will go down to reflect the fact that he can now easily do the work themselves as if paperwork is all accountancy is about. Looks like all the included tax consultancy services my practice provides no longer matter. After all, HMRC and Gov.uk have all the answers.
A former business partner took up employment last month as a management accountant because accountants within big companies had more clout than the practicing cuckoos out there. I'll hate to return to employment, however, with a family to support, this moment looks like the time to return to the classroom whilst I still have enough clients to cover the bills. It's a toss up between MBA, CIMA or Law.