06/12/2006
December 2006 News and Update
DECEMBER MEMBERS NEWS & UPDATE
Content:
- Things keep happening
- Editorial – stop blaming the bookkeeper
- Sub Editorial – remember to have a life
- Bookkeeping over Christmas
- Updates on Insurance
- Updates on Law – BAS Service Provider
- Updates on Education
Greetings to everyone,
Growing growing growing growing
The institute continues to grow in size, capacity, delivery, assistance, representation for BOOKKEEPERS.
It was with great pleasure that the admissions process admitted the 282nd person into membership yesterday. With a further 18 student members in the process of learning bookkeeping and a further 63 members within the accreditation process, ICB continues to grow and develop and create a real presence and help to lead the change to the bookkeeper industry.
Well Done!
&…….FINALLY!
For many years in many forums I have used the line “it’s only software, how hard can it be?” Well after playing with assessment software configurations, options, programs since before ICB existed (281 days) it is with great relief that I can state that our online assessment system is up and running finally. The first 3 Levels of the “ICB Certificate of Bookkeeping” are online and being undertaken by applicants wishing to gain entrance to ICB through these exams.
This system will be utilised in assessing the technical expertise of potential members, but in the future will be expanded to assess expertise for the
- ICB Certificate of Bookkeeping in MYOB or Quickbooks
- ICB Certificate of Application of Payroll in Quickbooks or MYOB
- Other assessments of bookkeeping skill as yet to be developed, and
- the annual education based assessments of members
The launch of this system has happened 7 months later than I had planned so my extreme apologies to those affected by the wait. I will continue with that line about software!! J
“Stop Blaming the Bookkeeper”
I remain perturbed by the negative press and negative accusatorial publications stating that bookkeepers are the cause of; bad sets of accounts, bad datafiles, incorrect BAS’s and increased costs and increased workloads.
We all have war stories and incidences of working with horrible bookkeepers and also those that just don't know how to bookkeep, BUT we do not believe it is typically the subcontract bookkeeper who is the problem.
Bookkeepers are required to process business transactions with the aim of providing information to the business owner. Sometimes with limited time, sometimes with limited information. Unfortunately it’s not just business information (accounts, bank balances, management information) that is required, but information for use in the tax & GST world aswell.
Bookkeepers are part of the system of a business complying with all their obligations. The system is too complex for business!! Bookkeepers in the main are part of solving the problem of an imperfect and overly complex world.
So what is a good bookkeeper
- systemised
- organised
- professional in manner and approach
- knows what they know and knows not to guess what they don't know
- communicates by asking questions or referring unknown items to owners or their accountants
- efficient and effective with their time
- follows processes and checklists
- amongst others
- a member of ICB
Bookkeepers who work with accountants
Remember to have a life!
Recent holidays, followed by the “recover from holidays” illness reminded me that taking holidays is dangerous. You should either not take holidays or not come back from them.
Seriously: what it did confirm is that it is very easy for a person to be so busy that time off, or self-time, or family time just misses out. We may get away with working too hard and too many hours for a while but it seems humans aren’t built to survive like that.
May we encourage you to limit your work day, limit how much work you do of an evening instead of relaxing or with others, plan to take your holidays and preferably in no more than 2 batches.
Christmas is a great time to have a breath, reflect on the meaning of life and set some goals going forward. What do you want your next year to look like?
Merry Christmas!
and a very safe and happy New Year to everyone
update - INSURANCE - update
It Boils!
The ICB Professional Indemnity Insurance scheme has been busy. 64 members have taken up policies to date with another 10 in the pipe line. 20 further enquiries waiting for their existing policies to lapse.
Download the enquiry form at http://www.icb.org.au/members_area/latest_news/story74.htm
Premium indicator
Fee income up to $120,000pa; indicative premiums of $528 (GST Incl.) + stamp duty for cover of $250,000 per claim through to $1089 for $2m cover.
Premium levels exist and can be advised for higher income levels. The website link above provides further indication.
Ensure that you take out the insurance cover necessary for your type of business and exposure to damage. $250,000 cover per incident may be sufficient for most bookkeepers but do you do any work where an omission or mistake could cause more damage?
update - LAWS - BAS Service Provider - update
Treasury and the ATO continue to work on understanding the world of the BAS as it happens for bookkeepers and business. Using this information as a basis for what the new law maybe. ICB continues to represent you in government forums as their thinking and drafting develops. The status remains the same “As of today there is NOTHING final about who or what or what is required of a person to be a BAS Service Provider.” Government has reassured us many times that when the draft becomes public that we will then get the ability to publicly talk, discuss, debate and refine their thinking.
ICB will align with the new law for the level of bookkeepers who are required to become part of any new system.
ICB is and will continue to be a part of representing the views of bookkeepers to government.
ICB will enable bookkeepers to be a part of the new system.
update - EDUCATION – Certificate IV rumours - update
Unfortunately nothing to update, the approval process continues on behind government closed doors.
The unofficial information is that the new Cert IV as described with a few changes is a definite thing.
We are working with approved RTO’s to be able to provide you with courses or Recognition of Prior Learning accreditation in the new course as soon as it is possible.
OUR PURPOSE
All bookkeepers, Local focus ~ National Accreditation ~ Global Recognition
Professional Association representing bookkeepers to government and presenting bookkeepers with standards, competence credibility and adhering to professional code of conduct.
Helping bookkeepers & accountants work together better
Helping bookkeepers!!!!
Thanks
Matthew Addison
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Executive Director
Institute of Certified Bookkeepers Ltd
