What info do I need to include in accounts?
My bf and I started up in business last year. The people we rent our sites from want to see our accounts. I'm a whiz with Excel but I'm not sure what information they will expect to see. We are supposed to give our accountants the info regularly but haven't been sending them it. Can anyone help? It's a catering business and we rent sites from the people that generate the business for us. We took the contract on on the basis that they would review our accounts...and then our rent... after six months. I have all the information I think I'll need I just don't know what they're expecting!
United Kingdom - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
When you say 'sites' what are you referring to? Web sites or physical locations... For websites, I'd tell them its none of their business. I've never had to do that in 20 years of business. Send a message to my yahoo account via this if you need any more info... (One of my businesses is web hosting and I can't for the life of me think why they would want to see your business accounts) Chris
Answer 2 :
They'll probably want to see your account ledgers. Balance sheet, and income statement if you have them. Essentially they want proof of your solvency to assure them you'll be able to make the rental payments. (They may ask to see a bank statement, to prove that your deposits match your reported income.) Ask them what they specifically need to know, it'll help you get them the information they need without all the guessing.
Answer 3 :
They probably want to see a profit and loss account and a balance sheet. I can't see what information they could get just from looking at your cash book, unless they want to ensure you have a steady income. I would talk to your accountant for some advice, thats what you pay them for!!
Answer 4 :
Produce the true accounts showing profit and loss. Presumably you agreed to this in the rental contract and I expect that if you are doing well they will want to increase the rent? Or is the rent in some way based on your turnover or profit?
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Tuesday, May 28, 2013
Tuesday, May 14, 2013
What is the average starting salary for a trainee chartered accountant in NI?
What is the average starting salary for a trainee chartered accountant in NI?
I have recently got the job offer of trainee chartered accountant with the starting salary of 10K. I was thinking this was a bit low as another one of my friends has a job as a trainee accountant in another firm for a lot more of a salary, which doesn't make sense to me at all?? Does it matter who the job is for and on what background degrees a person did. My friend did a degree in accountancy, where as I did a degree in mathematics. As well as this, I did a masters in Risk management and financial regulation, and was wondering if I am I over qualified for this job and should look elsewhere for better oppurtunites?
Financial Services - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I wouldn't look elsewhere. You are well qualified, but a qualification without a job is meaningless. Furthermore, the job market is dire at the moment; thus I recommend you keep your job and work your way up to a higher salary.
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I have recently got the job offer of trainee chartered accountant with the starting salary of 10K. I was thinking this was a bit low as another one of my friends has a job as a trainee accountant in another firm for a lot more of a salary, which doesn't make sense to me at all?? Does it matter who the job is for and on what background degrees a person did. My friend did a degree in accountancy, where as I did a degree in mathematics. As well as this, I did a masters in Risk management and financial regulation, and was wondering if I am I over qualified for this job and should look elsewhere for better oppurtunites?
Financial Services - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I wouldn't look elsewhere. You are well qualified, but a qualification without a job is meaningless. Furthermore, the job market is dire at the moment; thus I recommend you keep your job and work your way up to a higher salary.
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Tuesday, May 7, 2013
How would I go about becoming an Accountant?
How would I go about becoming an Accountant?
I am 15, finishing school this year. I am on for an A in my maths GCSE, three modules, scored an A on the first, B on the second, I am average A because of the marks I got. I am going to study maths in 6th form and get an A level in it, I was also planning to study Biology and Chemistry - as I'm doing seperate science GCSE right now, thats instead of 1 science GCSE I get 3 GCSEs, one in biology, chemistry and physics. And english media. To become an accountant, do you recommend I do different A levels? Which best accompany maths in that way. With my A levels, then what should I do? My parents say that if I can get in an accountancy firm, they will put me through the degree faster than university, while paying me, does anyone know how it works, what grades I'll need to get in my A levels etc etc? Thanks.
Other - Careers & Employment - 1 Answers
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Answer 1 :
See this site: http://trainingvacancies.icaew.com/ http://www.careers.icaew.com/
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I am 15, finishing school this year. I am on for an A in my maths GCSE, three modules, scored an A on the first, B on the second, I am average A because of the marks I got. I am going to study maths in 6th form and get an A level in it, I was also planning to study Biology and Chemistry - as I'm doing seperate science GCSE right now, thats instead of 1 science GCSE I get 3 GCSEs, one in biology, chemistry and physics. And english media. To become an accountant, do you recommend I do different A levels? Which best accompany maths in that way. With my A levels, then what should I do? My parents say that if I can get in an accountancy firm, they will put me through the degree faster than university, while paying me, does anyone know how it works, what grades I'll need to get in my A levels etc etc? Thanks.
Other - Careers & Employment - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
See this site: http://trainingvacancies.icaew.com/ http://www.careers.icaew.com/
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Wednesday, May 1, 2013
What Is AICPA "American Institute of Certified Public Accountants"?
What Is AICPA "American Institute of Certified Public Accountants"?
1-What is the mission of ‘AICPA’? 2-What are the main objectives of this organization?
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You need to ask this question on US Answers.
Answer 2 :
google it
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1-What is the mission of ‘AICPA’? 2-What are the main objectives of this organization?
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You need to ask this question on US Answers.
Answer 2 :
google it
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