How can I work out what career to do for the rest of my life?
I am 23, have a degree in accounting although I dont want to pursue this as a career. For the last 2 years, since i left university i have been doing different temporary jobs involving basic office work but im ready to move on to a "proper job!" I am currently looking through jobs on learndirect.co.uk which is quite helpfull. anyone have any advice on how i can work out what to do? any websites etc? how did u work out what you wanted to do?
Careers & Employment - 8 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
mmmmm... Most people move forward in any case. What I was doing 15 years ago is different to what I do now. I am in the same industry, but now I teach my skills and knowledge rather than use the skills I learned as I used to. What I am saying is, become an accountant! And move around! Earn a good salary and then look out for vacancies such as a branch manager or teach the skill that you have back to students... etc
Answer 2 :
To be quite honest, to find out what you want to do is trial and error. You are not the only one in this situation. People get degrees in one thing and find out that they want to do another. My advice is to talk to different people about what they do (how long of a education, salary, if they really like it, etc). But first, try to narrow down the field. Like, being in Health, Finance, Law, Education, Fashion, or such. Also, do some research in different areas online. There are ample amounts of information out there.
Answer 3 :
You can earn alot of money in accounting, though i can imagine it being v. boring so i can't blame u there. U have a degree, that will get you into many jobs.u could try fast tracking into the police force, because u have a degree u would be fast tracked into standard or specialised roles.Only u can answer your question, u must have an idea of the sort of thing u want to do.I'm very much the same, 21 and doing all kinds of work from plumbing to building driving and i'm still not sure.
Answer 4 :
I was in my 40s when I decided what I really wanted to do!! Too late!! The best advice I can give is to work out what you realy enjoy doing, not necessarily academicaly but in life in general then look at what job opportunities there are. Life isn't all about making money it's about being happy. Good luck whatever you decide to do.
Answer 5 :
Most people never find what they wanna do. There's two types of situation in this world: A) People who love they're job, so $ is not even a concern. B) People who run the gamut from indifference to dislike on their jobs, but use the $ they earn to enjoy life outside of work. Most people will NEVER be in category A, so keep trying the B's, and make your decision on whether or not that can keep you happy. I've worked an A job before, but in my current B job, I make a lot of money, so I'm okay not loving what I do because I like the $ that's coming in.
Answer 6 :
I am also having this problem I am 23 and am studying towards my AAT to get into accounts. However i have recently got a job in accounts and I am hating every moment of it, am now having doubts if this is actually the career that i want to pursue, but I know this earns very good money. However job I just left was just doing administrative work for a bank yet I really enjoyed it but money was really bad. So I know what your going through.
Answer 7 :
You're right that it's time you did something, even if it doesn't turn out to be the career you spend the rest of your life in. You can get a lot of jobs based on being "a graduate" and you're not restricted by an Accountancy degree in the same way as you might be if you had something like Handbag Design Studies. It's a good subject that will impress an employer. Your default option, with that degree, is to sign yourself up for three years as an audit trainee and get an ACA. Once you have that, you will always be able to find a good job - which gives you a nice safety-net should you decide after the three years that actually you want to be an actor or whatever. You sign a training contract but it's not like it's the Army or something. Most people don't know what they want to do. Even the ones who say they do, half the time they're just parrotting something that their parents have drilled into them or something that sounds good to them but they don't have the insight to know whether they'll like it once they get there. So don't feel inferior - but at the same time, don't feel special either. It may well be that there is NOT a calling out there just waiting for you to find out what it is. Don't wait around for inspiration to hit you in case it never does. If all else fails, go for the money as your default option. You have just embarked on your 45+ year working life and what you do in the first few years can close as many doors as it opens because of the sort of person it makes you look like to a future employer. You can always pack in your high-flying career in accountancy after ten years in order to go mucking out elephants at the Zoo, but you cannot usually do it the other way around. Me, I fell into this job after messing up my degree. I started as an office junior in tax, and however-many-years later I'm a senior person in tax. While I wouldn't carry on doing it if I won the lottery, as jobs go I like it just fine and the pay is great.
Answer 8 :
if u still are unsure if accounting isn't for u then try some free career tests at joblinkinfo dot com and if u r they have a section for jobs in the uk as well 2 better assist u good luck
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Wednesday, May 28, 2014
Wednesday, May 14, 2014
How do i account for Stock Options as a gift from a customer?
How do i account for Stock Options as a gift from a customer?
uk question. I know how they work if you are an employee. However, i'm a director and basically work for myself. One of my customers has paid me in full for the service i provided. I know i need to account for this in this tax year. However, they also gave me stock options that mature in 3 years time provided i don't provide my services to thier competitors. fair enough. So when do i account for these stock options ? I can't do it this years as they haven't matured so i don't know what money i've made. I'm likely to vest them in 3 years time as the options already have a a healthy profit. Hows that going to work as i've already accounted for the service in full. I'm wondering if they count as a new 3 year service - the "service" being to NOT talk to thier competitors. me ? Confused. I guess i'll have to talk to my accountant but thought i'd ask here to see if anyone knows. my customer is in the US but i don't think that matters....
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
your customer has gifted you a headache. Were they given to you (individual) or your company? If your company, then Corporate Venturing Scheme rules may apply. That's the company equivalent of Enterprise Investment Scheme (NOT the means of giving shares to employees - that would be Employee Management Incentives - sorry I got myself confused). These may be difficult to classify as "approved" options, which would allow you to put them under CVS or EIS. If you can't do that, you may have to pay tax now on the value of the shares now, then pay tax later on the uplift. All of that would be taxed as income (individual) or I guess profit (company). Sucks. You DO need your accountant on this one. If you CAN put them under EIS or CVS, you're sorted.
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uk question. I know how they work if you are an employee. However, i'm a director and basically work for myself. One of my customers has paid me in full for the service i provided. I know i need to account for this in this tax year. However, they also gave me stock options that mature in 3 years time provided i don't provide my services to thier competitors. fair enough. So when do i account for these stock options ? I can't do it this years as they haven't matured so i don't know what money i've made. I'm likely to vest them in 3 years time as the options already have a a healthy profit. Hows that going to work as i've already accounted for the service in full. I'm wondering if they count as a new 3 year service - the "service" being to NOT talk to thier competitors. me ? Confused. I guess i'll have to talk to my accountant but thought i'd ask here to see if anyone knows. my customer is in the US but i don't think that matters....
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
your customer has gifted you a headache. Were they given to you (individual) or your company? If your company, then Corporate Venturing Scheme rules may apply. That's the company equivalent of Enterprise Investment Scheme (NOT the means of giving shares to employees - that would be Employee Management Incentives - sorry I got myself confused). These may be difficult to classify as "approved" options, which would allow you to put them under CVS or EIS. If you can't do that, you may have to pay tax now on the value of the shares now, then pay tax later on the uplift. All of that would be taxed as income (individual) or I guess profit (company). Sucks. You DO need your accountant on this one. If you CAN put them under EIS or CVS, you're sorted.
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Wednesday, May 7, 2014
I'm on holidaymaker visa & can work 1 yr as contractor. Is it advisable to open a Limited company?
I'm on holidaymaker visa & can work 1 yr as contractor. Is it advisable to open a Limited company?
Hi, I am currently on holidaymaker visa which I can take contract jobs for 1 year. Expected to earn more than 35,000 per annum, tax rate of 40%. Is it advisable to go through the hassle to open a limited company or go through umbrella company under the IR35 to tax savings? Any good agencies to recommend for limited companies opening + accounting or umbrella companies? Thanks
United Kingdom - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Hi!! it is always, in these cases to protect yourself with LMT C/O. The cheapest way i know to do this, is to puschase a laxed company, that is no longer being used. Unfortunately i have forgotted where to write for the information, but it is the companies registration office. Some of these have tax allownces still on them.
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Hi, I am currently on holidaymaker visa which I can take contract jobs for 1 year. Expected to earn more than 35,000 per annum, tax rate of 40%. Is it advisable to go through the hassle to open a limited company or go through umbrella company under the IR35 to tax savings? Any good agencies to recommend for limited companies opening + accounting or umbrella companies? Thanks
United Kingdom - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Hi!! it is always, in these cases to protect yourself with LMT C/O. The cheapest way i know to do this, is to puschase a laxed company, that is no longer being used. Unfortunately i have forgotted where to write for the information, but it is the companies registration office. Some of these have tax allownces still on them.
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Thursday, May 1, 2014
What QuickBooks version is best suited for the Philippines?
What QuickBooks version is best suited for the Philippines?
I hear the US version doesn't have VAT, but the UK version doesn't have multi-currency. Which version is commonly used in the Philippines? And how do they adjust the software so that it works best with BIR standards? What other accounting software can you recommend other than QuickBooks?
Philippines - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Answer: I am not fully knowledgeable about QuickBooks but I have a basic background. It is a good software though. If it's a small and medium entity, I recommend SAP Business One. However, if it's a large entity, I recommend SAP R3 because it is more complex and flexible.
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I hear the US version doesn't have VAT, but the UK version doesn't have multi-currency. Which version is commonly used in the Philippines? And how do they adjust the software so that it works best with BIR standards? What other accounting software can you recommend other than QuickBooks?
Philippines - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Answer: I am not fully knowledgeable about QuickBooks but I have a basic background. It is a good software though. If it's a small and medium entity, I recommend SAP Business One. However, if it's a large entity, I recommend SAP R3 because it is more complex and flexible.
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