starting a small accounting business
hi, im currently completing my AAT qualification, i and a friend want to open a small accounting business (home-based), but neither of us have any accounting experience what so ever, whats your advice and what tasks do we need to be competent at?
My suggestion is not to start a business you have no experience in. Accounting for someone else's business and potentially handling their money is not something to be taken lightly.
I would suggest taking a few courses at your local technical college or maybe online. You need the basics of accounting, then you need to learn about journals and transactions, financial statements, and financial analysis.
Read. Learn. Maybe even work for a small CPA firm for a year or so to gain experience. Then, if you still think it's for you, go on your own. It's awfully hard to start a business from scratch, make sure you know what you're doing first.