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
People Answers, Critics, Comments, Opinions :
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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Sunday, April 28, 2013
How do you go about becoming an Accountant? (I'm 16!)?
How do you go about becoming an Accountant? (I'm 16!)?
Obviously i don't want to become an accountant at this age (just to make that clear lol) I have a few questions about Accountancy.... I'm really interested in the whole idea of the business and finance sector and i think accountancy is an appropriate job choice for the future... However, as i'm only 16 i've just picked my A Levels to study this september and i've chosen: IFS (Institue of Financial Services Qualification), Double Applied Business, History & Physcology However, my boyfriend wants to be accoutnant also and has been doing an AAT course at college (he is 17) How would i go about doing all these Accounting qualifications if i'm going to be in full time education next year at sixth form Also how do you get into accounting? I'm not sure if i want to go to university yet and if you're going to do accounting at uni i'm sure you need Maths A Level, and i'm not amazing at maths (accounting uses calcultors alot of the time which is useful for me) I'm sorry it's long, but can anyone give me some advice into getting into accounting because as i'm getting older i need to think about my job choices!
Financial Services - 0 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
1)be good at math as much as u can coz most of the accountant should be good at math 2) go to university and take accounting major 3)take the CPA ===>Certified Public Accountant http://en.wikipedia.org/wiki/Certified_Public_Accountant
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Obviously i don't want to become an accountant at this age (just to make that clear lol) I have a few questions about Accountancy.... I'm really interested in the whole idea of the business and finance sector and i think accountancy is an appropriate job choice for the future... However, as i'm only 16 i've just picked my A Levels to study this september and i've chosen: IFS (Institue of Financial Services Qualification), Double Applied Business, History & Physcology However, my boyfriend wants to be accoutnant also and has been doing an AAT course at college (he is 17) How would i go about doing all these Accounting qualifications if i'm going to be in full time education next year at sixth form Also how do you get into accounting? I'm not sure if i want to go to university yet and if you're going to do accounting at uni i'm sure you need Maths A Level, and i'm not amazing at maths (accounting uses calcultors alot of the time which is useful for me) I'm sorry it's long, but can anyone give me some advice into getting into accounting because as i'm getting older i need to think about my job choices!
Financial Services - 0 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
1)be good at math as much as u can coz most of the accountant should be good at math 2) go to university and take accounting major 3)take the CPA ===>Certified Public Accountant http://en.wikipedia.org/wiki/Certified_Public_Accountant
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Sunday, April 14, 2013
i want to be an accountant. what course will i take?
i want to be an accountant. what course will i take?
Higher Education (University +) - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Accountancy
Answer 2 :
golf course management
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Higher Education (University +) - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Accountancy
Answer 2 :
golf course management
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Sunday, April 7, 2013
Whats the best route to become an Accountant via university?
Whats the best route to become an Accountant via university?
Im 17, ive just finished my AS levels and I should get grades of roughly ACC and i am going to pick up another another double business A2 level and fit it in a year had aim for a grade C. I have a grade B in GCSE maths and english literature and a grade C at GCSE English. I am hoping to go university to study accounting and possibly law or a joint Hons in both at bournemouth possibly. I would like advice on any specific universities that specialise in accounting or any relevant courses i could apply for at university that would benefit my career. i would also like to find out about what steps i would take after my degree and if a placement year (sandwich degree) is better to progress my career. I would also like to know about any masters degrees or phd there are involving accounting and if they are worth thinking about. I mainly would like to know what to do after my degree to become an accountant. Thank you for your time in reading this essay. I hope you can help me.
Higher Education (University +) - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
In London you hav e the famous London School of Economics. Imao it could be a goode institution for your accounting plans.
Answer 2 :
At ACC level it will be unrealistic to pursue LSE. What I recommend is - get into a university that will give you accreditation. After your BSc, it is not useful to do a Masters. Accounting is all about the experience and getting the professional qualification. By the second year of our BSc, you will have the chance to intern in an accounting firm. After you graduation, try to start in one of the graduate programmes in the auditing firms. You will clock your "experience hours" with the firm and meanwhile study for your qualification (ACA, or ICAS, for example.) You should pass your exams in 3 years and become a qualified accountant.
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Im 17, ive just finished my AS levels and I should get grades of roughly ACC and i am going to pick up another another double business A2 level and fit it in a year had aim for a grade C. I have a grade B in GCSE maths and english literature and a grade C at GCSE English. I am hoping to go university to study accounting and possibly law or a joint Hons in both at bournemouth possibly. I would like advice on any specific universities that specialise in accounting or any relevant courses i could apply for at university that would benefit my career. i would also like to find out about what steps i would take after my degree and if a placement year (sandwich degree) is better to progress my career. I would also like to know about any masters degrees or phd there are involving accounting and if they are worth thinking about. I mainly would like to know what to do after my degree to become an accountant. Thank you for your time in reading this essay. I hope you can help me.
Higher Education (University +) - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
In London you hav e the famous London School of Economics. Imao it could be a goode institution for your accounting plans.
Answer 2 :
At ACC level it will be unrealistic to pursue LSE. What I recommend is - get into a university that will give you accreditation. After your BSc, it is not useful to do a Masters. Accounting is all about the experience and getting the professional qualification. By the second year of our BSc, you will have the chance to intern in an accounting firm. After you graduation, try to start in one of the graduate programmes in the auditing firms. You will clock your "experience hours" with the firm and meanwhile study for your qualification (ACA, or ICAS, for example.) You should pass your exams in 3 years and become a qualified accountant.
Read more other entries :
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