News,May 2018

what is forensic accounting

What is Forensic Accounting? Auditing vs Forensic Accounting

11/12/2023Accountants , Accounting , accounting software

Let’s dive into the discussion about what is forensic accounting. It goes beyond traditional accounting practices by focusing on the detection, prevention, and resolution of financial crimes. In today’s complex business landscape, where financial fraud and misconduct can have severe consequences, forensic accountants play a vital role in protecting organisations and ensuring financial integrity. They …

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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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What is Materiality in Accounting

What is Materiality in Accounting? (Definition & Example)

05/12/2023Accountants , Accounting

Let’s dive into the introduction of our discussion about what is materiality in accounting. Materiality is a principle in financial reporting that helps determine what information should be included in financial statements. It focuses on identifying and disclosing information that is significant enough to influence the economic decisions of users. Materiality serves as a guiding …

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can you claim vat on staff entertainment

Can You Claim VAT on Staff Entertainment?

04/12/2023Accountants , VAT

Are you wondering whether can you claim VAT on staff entertainment or not in the UK? VAT stands for Value Added Tax, which is a consumption tax added to the price of goods and services. Value-added tax happens to be a little complex when we talk about the entertainment of the staff members. We need …

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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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SA106 form

What is an SA106 Form?

28/08/2023Accountants

If you are struggling with the submission of tax returns, here is a guide that will help you with the SA106 form focused on its importance for individuals who pay their tax returns online in the UK and have foreign income or gains to report. The need to accurately fill out the SA106 form and …

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benefits of hiring contractor accountant

6 Benefits of a Contractor Accountant

16/08/2023Accountants

Looking for the benefits of hiring a contractor accountant in the UK, we have designed this blog to get you covered with everything that you need. A contractor accountant can be a valuable asset for your business. They can help you navigate UK tax laws, reduce the risk of errors, and meet strict deadlines. Moreover, …

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