[NAFV_P]

In the UK accountancy courses are subsidised, it might also be the case in the US. This could be an option regarding a long term strategy.

At my accountancy course I learned that when Sage goes belly up, you resort to double entry.

[rahimnathwani]

I'm curious to know more about the course, e.g. the target audience, objectives and content.

One of the reasons for my curiosity is that I'm unaware of any specific subsidies for accounting courses. Another reason is your comment "you resort to double entry".

Double-entry is fundamental to accounting, in the same way that memory is fundamental to computing.

[NAFV_P]

The government body:

http://aat.org.uk/

The government subsidises the courses.

I'm currently studying level 2 AAT, I missed out on level one. I believe it goes up to level four which is a hefty qualification. Because I receive jobseekers allowance I was waived on some fees, but I still had to pay for the books and the AAT membership. Overall this came to about £260. The membership must be renewed annually if you want to get a decent position, but it doesn't include the initial administration fee.

Regarding the content, it's mostly double entry. At the beginning of the year we were taught some basic business knowledge, like costing and professional ethics. In a few weeks we start SAGE. If I were to continue into the second year ... just double entry but far more complicated.

> Double-entry is fundamental to accounting, in the same way that memory is fundamental to computing.

I couldn't agree more, but to get an entry level job, say purchase ledger clerk a lot of employers want experience with SAGE more so than paper T-A/Cs. One of my fellow students mentioned someone who works at a fairly high level in accountancy - almost completely ignorant of dub-entry, but was a whizz with SAGE. A look at a lot of job descriptions mirror this sentiment among typical employers. Using SAGE and the like contrasts sharply with the phrases some of my fellow students utter to remember the fundamental rules. My Zen Koan is: Debit the thief's A/C, credit the victim's.

[rahimnathwani]

Thanks for the clarification. A few quick thoughts:

- Most/all of the UK professional accounting bodies recognise AAT level 4, and will give you exemptions from some/all of the first level of their own exams, e.g. http://www.cimaglobal.com/Our-locations/UK/find-out-about-jo...

- Totally agree, practical experience of accounting software is more important for a book-keeper than a deep understanding of double-entry. However, you've got to understand enough to be able to reverse/fix transactions when you/someone screws up.

- I've met candidates who claimed >1 year experience doing book-keeping, but couldn't answer this simple arithmetic problem (with a calculator): "If I buy a mug from the pound shop (for 1 pound), and the VAT rate is 20%, how much of what I paid was VAT?".

- I don't think AAT is a government body. (But I see the info on government subsidies for AAT courses: http://www.aat.org.uk/qualifications/funding)

[NAFV_P]

> "If I buy a mug from the pound shop (for 1 pound), and the VAT rate is 20%, how much of what I paid was VAT?"

I calculated it as 16p, but I think if you are presented with a bill that requires paying VAT, the actual amount of VAT should be explicitly stated. VAT is always rounded down, so an implicit sum has lost some information, unless the total number of pennies is divisible by six.

> I don't think AAT is a government body.

Whoops, poorly worded.

[rahimnathwani]

Correct. I wouldn't expect someone to know about the rounding rules, as there isn't just one rule which applies to all situations:

- http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPort...

- http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPort...

[NAFV_P]

Cheers for the links.