Continuous Professional Education (CPE)
As part of our Bookkeeping and Accounting courses, we provide our participants with student memberships to relevant industry associations so that they learn how to KEEP learning after their course. Students that complete our course should be ecstatic when they receive their hard earned certificate. But no, that’s not the end of it, it’s just the beginning and our students know it! After the course there is more work they have to then manage their own study and professional education.
I would expect that taxation is the fastest moving learning environment of any industry. I have gotten to the point where I use the ATO and Fair work websites almost every week to ensure I have thresholds and amounts correct. Fuel Tax credit rebates are a prime example, these seem to change every few months.
As a Registered BAS Agent we are required to complete a minimum of 45 hours of CPE study within three years, with a minimum of five hours each year. We suggest that our students start with at these five hours per year. If they are thinking of moving to accounting later in their career then their CPE will be up to 90 hours within a three year registration period, so five hours per year is a good habit to get into.
I’m off to the MYOB Conference next week, which is a two day event. The conference will be 16 hours of study, and that’s just in regards to MYOB and their add-ons. I still have other courses I will attend this year.
So where else can you get your CPE? It can be as simple as reading email newsletters when they come through, although reading can’t be more than 25% of your total CPE. Some great newsletters to subscribe to would be;
- Industry association - ICB, ABN, AAT
- Tax offices - ATO, Office of State Revenue
- People you are associated with - your accountant, superfund
- Computer software that you work with or are interested in (MYOB, Xero, Calxa)
- Any industry specific newsletters for your business and/or clients you work with
Other studies that you can complete at home are:
- Sign up to a webinar
- Enrol into an online course of study towards your chosen career.
- Research in an area of interest and creating a publication (such as a blog or support note) is also part of CPE.
Attending a seminar, workshop or class is always enjoyable as you meet other like-minded people whilst attending. My preferred study methods are webinars, gaining specialist skills (doing exams for software accreditations) and also conferences. Conferences are a great way to gain a wide range of knowledge within a short space of time, whilst enjoying time with colleagues. I am really looking forward to MYOB in Melbourne next week!
Some ideas for useful areas to study for bookkeepers are:
- Specialist GST seminars
- Superannuation seminars
- Attend an ICB meeting in your area
- Dealing with assets
- Fuel tax credits
- Courses on pricing yourself!
- Of course Xero, MYOB or QBO online webinars or classes
Full details regarding what the Tax Practitioners Board considers appropriate CPE here https://www.tpb.gov.au/cpe-activities
I hope this helps in your personal and professional growth.
Until next month,
Warmest regards, Cheryl