News,May 2018

what is fair value accounting

What is Fair Value Accounting? Definition, Method and Difficulties

14/12/2023Accountants , Accountants for Contractors , Accounting , Accounting Issues , accounting software , Bookkeeping

Let’s dive into our discussion about what is fair value accounting. It’s an accounting approach that’s gaining traction in the UK and globally. Fair value accounting involves valuing assets and liabilities based on their current market prices, providing a more accurate reflection of their true worth. This method enhances transparency and relevance in financial reporting, …

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accruals and prepayments

Understanding the Concept of Accruals and Prepayments

06/12/2023Accountants , Accountants for Contractors , Accounting

Let’s dive into the world of accruals and prepayments. These two concepts are fundamental in the realm of accounting and play a crucial role in accurately reflecting a company’s financial position and performance. Accruals and prepayments help address the timing and recognition of revenues and expenses, ensuring that they are properly recorded in the appropriate …

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why is accounting important in healthcare

The Importance of Accounting in The Healthcare Industry

15/11/2023Accountants , Accountants for Contractors

Let’s dive in and talk about why is accounting important in healthcare. In the ever-evolving field of healthcare, managing finances is no easy task. Healthcare organisations face unique challenges when it comes to accounting and financial management. They deal with complex financial data, including revenue, expenses, reimbursements, and more.   Talk to one of our …

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how xero works for your business expansion

How Xero Works for Your Business Expansion?

20/09/2023Accountants , Accountants for Contractors , Accounting , Accounting Issues , accounting software

Are you new to Xero and aim to learn how Xero works for your business expansion? This discussion will explain various facts related to expanding your business, including using Xero to expand geographically and target new customer segments. We will also discuss strategies such as setting up Google My Business, optimising existing content, and improving …

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what do accountants do

Worth Cost of An Accountant – A Guide for Small Business Owners!

17/06/2022Accountants , Accountants for Contractors , Accounting

Accounting is known to be an essential tool when we talk about maintaining track of a business’s finances. In the case of the owners who carry out small businesses, they do not have the required skills, time, and knowledge to deal with the finances well. Your business should outsource your accounting requirements when your business finally …

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