Motivation | Career changer
Opening doors to a fresh career
Combining your experience in previous jobs with an AAT qualification can help deliver a valuable service to clients, as Heather Palmer FMAAT proves
Words Marianne Curphey
Heather Palmer FMAAT, owner and managing director of Ascot Bookkeeping & Accounting, had a successful career working for firms such as BP and Jacobs before running several of her own businesses.
“I didn’t enter accounting through the traditional route,” she says. “A series of life events led me to a career change, which ultimately resulted in me starting my own accounting practice.
“I founded Ascot Bookkeeping and Accounting Limited in 2017 and since then it has grown into a strong team of accounting professionals dedicated to helping clients elevate their businesses to the next level. We don’t focus on just one industry; our diverse client base includes companies in retail, entertainment, services, professional management and more.”
Passion for business
In the early years of her career, Palmer held various roles, mainly in sales and manufacturing.
“In the early 2000s, I decided to start my own retail and manufacturing business in central Scotland,” she says. “I grew this business from a one-woman operation to a team of 17 employees.
“At that time, the internet was just beginning to take off and we initially sold our products through traditional methods. However, as online retailing started to emerge, I realised that to reach a broader customer base we needed an online presence.
“We developed our own e-commerce site, incorporating features like loyalty schemes and customer databases. Back then, you had your own server and needed to understand databases. It was all cutting-edge technology, but it enabled us to reach customers not just throughout the UK but internationally as well. We began exporting to countries like Australia, Canada, the USA and Japan, to name a few.”
A series of life events led me to a career change, which ultimately resulted in me starting my own accounting practice
Transferable skills
As a small business owner, Palmer had many roles, from managing sales, marketing, accounts and finance. She was also responsible for paying wages, creditors and dealing with bank loans each month. Her real-life experience taught her the importance of having a strong grasp of the financials to avoid potential pitfalls. She implemented accounting software and developed a range of Excel spreadsheets to manage cash flow, sales forecasts, and aged reports for creditors and debtors.
After a relocation from Scotland to London, it wasn't feasible to continue running her business remotely. That was when Palmer decided to qualify in accounting and bookkeeping in her mid-40s.
“I had always been passionate about the financial aspects of business, and I wanted to use my experience to help other companies avoid the pitfalls I had encountered and achieve their business goals.”
AAT certification
“To be credible and provide top-level service, I knew I needed formal accounting qualifications,” Palmer says. “I began with a part-time City & Guilds course in bookkeeping and accounting, followed by the ICB bookkeeping qualifications. These courses provided a solid foundation and eased me back into studying.”
After completing AAT Level 2, she earned her Certificate in Accounting, which strengthened her core accounting skills including double-entry bookkeeping, basic costing and managing various ledgers.
“Building on this, I moved on to AAT Level 3 to deepen my understanding of higher-level accounting practices,” she says. This course included topics such as business awareness, financial accounting, management accounting techniques and tax processes.
Palmer didn’t stop there. Encouraged by her progress, she advanced to AAT Level 4, which delved into more complex topics such as analysing business performance, international accounting standards, drafting financial statements, business taxes, auditing, liquidity, raising finance and investing funds.
“Although Level 4 was challenging, my hard work and perseverance paid off and I earned my AAT Professional Accounting qualification,” she says. “In 2022, I was honoured to receive formal recognition from AAT with a fellowship.”
Grasp the opportunity
Many business owners focus heavily on sales and marketing but often neglect the financial side, viewing accounting as a once-a-year chore, Palmer says.
“I saw an opportunity to help companies move forward by emphasising the importance of ongoing financial management.”
TOP TIPS
Palmer’s tips for success
1
Keep going
Like anything worthwhile, becoming a qualified accountant requires commitment, effort, and balancing work, study and personal life. But with dedication and perseverance, Palmer says the rewards have been immensely satisfying.
2
Use your skills and experience
“Having run my own businesses, I can totally understand my clients’ perspective,” Palmer says. “I have been through a lot of the things that they go through, too.”
3
Value your AAT qualification
From a client point of view, because they know that you have the qualifications and that you have gone through the ethics, they also have confidence and trust in you that you’re doing everything right.
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Opening doors to a fresh career
Combining your experience in previous jobs with an AAT qualification can help deliver a valuable service to clients, as Heather Palmer FMAAT proves
Words Marianne Curphey