my accountant says that dividends should be shown as 90% of what is actually paid on P&L for compianes house?
United Kingdom - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
okay
Answer 2 :
Michael, the answer is the same as when you asked this question before. Your accountant is wrong or you have misunderstood his advice. The correct accounting treatment is that dividends in the P&L are the same as the dividends actually paid. Tax treatment would be a different question with a more complicated answer.
Answer 3 :
The only reason for doing so is either :- 1) To evade Tax 2) To cover up Fraud elsewhere in the cash flow
Answer 4 :
The reason behind this is because a 10% tax credit is applied to the dividend, so if you have drawn £10k as a dividend the amount that goes on your Individual Self Assessment is 1/9 x £10k (=£11,111). The company would show £10k in its accounts.
Answer 5 :
I'm with JC on this. The answers to the previous question more than covered the matter.
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Friday, January 28, 2011
Friday, January 14, 2011
WHAT IS THE ROLE OF AN ACCOUNTANT?
WHAT IS THE ROLE OF AN ACCOUNTANT?
WHERE COULD YOU GET A JOB
Higher Education (University +) - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
All businesses must have Bookkeepers who keep all the financial records, then usually they send reports to the Accountant to do the taxes. Some people use an accountant for all of it, but it costs more.
Answer 2 :
to manage accounts. to prepare accounts. to explain accounts. to check accounts via audit. You will have to undergo a long training and then you can, on graduating, specialise. You will have to have an interest in Law too as money-laundering - theft etc is part of it all. If you have good grades, especially in English and Mathematics you should get indentured to a Firm or go to Uni.
Answer 3 :
Adding up other peoples money mainly
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WHERE COULD YOU GET A JOB
Higher Education (University +) - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
All businesses must have Bookkeepers who keep all the financial records, then usually they send reports to the Accountant to do the taxes. Some people use an accountant for all of it, but it costs more.
Answer 2 :
to manage accounts. to prepare accounts. to explain accounts. to check accounts via audit. You will have to undergo a long training and then you can, on graduating, specialise. You will have to have an interest in Law too as money-laundering - theft etc is part of it all. If you have good grades, especially in English and Mathematics you should get indentured to a Firm or go to Uni.
Answer 3 :
Adding up other peoples money mainly
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Friday, January 7, 2011
Is Maths harder in ACCA or CIMA training programme?
Is Maths harder in ACCA or CIMA training programme?
I am not that great at Maths plus the last time I studied it was about 15 years ago. I would like to retrain to become an accountant. Which accounting body needs more mathematical knowledge to complete their accounting programme? Do CIMA qualified accountants working in companies deal with more complex maths or the ACCA qualified, the ones that work in practice?
Financial Services - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
CIMA harder.
Answer 2 :
Both use Maths equally although you have to bear in mind it's not really like the maths you did at school - no geometry etc. It's more straightforward so as long as you have a good grasp of figures in general you should be fine.
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I am not that great at Maths plus the last time I studied it was about 15 years ago. I would like to retrain to become an accountant. Which accounting body needs more mathematical knowledge to complete their accounting programme? Do CIMA qualified accountants working in companies deal with more complex maths or the ACCA qualified, the ones that work in practice?
Financial Services - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
CIMA harder.
Answer 2 :
Both use Maths equally although you have to bear in mind it's not really like the maths you did at school - no geometry etc. It's more straightforward so as long as you have a good grasp of figures in general you should be fine.
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Saturday, January 1, 2011
What percentage are liquidators looking for?
What percentage are liquidators looking for?
I need to put in a firm offer against some IT hardware that a company spent £60k on. They folded, and their accountants are selling off assets. Does anybody have experience of what returns they would accept? Would an offer of 10% be accepted? They won't tell me any guide-pricing, and have asked for an offer. Sorry, I should clarify that they havent said its worth £60k, that's a rough figure I arrived at based on what they are looking to sell off.
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
They want as much as they can get. You could try offering 10%. If they tell you to get stuffed, you can always try another offer.
Answer 2 :
liquidators are empowered to sell for the maximum they can get for the property and if no other offers are on the table then your offer will be accepted i work for a furniture company and we had 3pce suites retailing at 1000 to 3000 pounds and we were told to sell at whatever we could get i sold a 3000 suite for 600 pounds and had no problem so make an offer you never know you may be lucky.
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I need to put in a firm offer against some IT hardware that a company spent £60k on. They folded, and their accountants are selling off assets. Does anybody have experience of what returns they would accept? Would an offer of 10% be accepted? They won't tell me any guide-pricing, and have asked for an offer. Sorry, I should clarify that they havent said its worth £60k, that's a rough figure I arrived at based on what they are looking to sell off.
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
They want as much as they can get. You could try offering 10%. If they tell you to get stuffed, you can always try another offer.
Answer 2 :
liquidators are empowered to sell for the maximum they can get for the property and if no other offers are on the table then your offer will be accepted i work for a furniture company and we had 3pce suites retailing at 1000 to 3000 pounds and we were told to sell at whatever we could get i sold a 3000 suite for 600 pounds and had no problem so make an offer you never know you may be lucky.
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Tuesday, December 28, 2010
Why is the western world turning to venture capitalists?
Why is the western world turning to venture capitalists?
I have previously pointed out that current economics is out-dated, much to the annoyance of economic graduates. The point is that accountants, economists and solicitors are society parasites. You need civil engineers(electrical, mechanical and 'civil'), theologians and philosophers to push society forwards. Why do we put up with a bunch of people who arte out fo themselves?
Economics - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
greed
Answer 2 :
The credit crunch is proving that the banks loose loans and credit application approvals are coming back to bite them..
Answer 3 :
Nothing will be manufactured without money. Therefore the need for ventured capitalists.....no matter what you invent. If it isnt developed, manufactured and marketed, the greatest gizmo in the world is going sit there like a bump on a log.
Answer 4 :
But civil engineers and theologians rarely have the interest it takes, including self-interest to: find an idea to make money; assemble the resource owners , the capital owners , and the employees who are willing to join them in an enterprise that the latter groups think will maximize their satisfaction with their contributions. The people who contribute money or resources or labor face the loss of their investment if the venture fails. For employees that means they probably gave up a job to join the new venture and face unemployment as well as the benefits had they stayed where they were previously employed. Philosophers and theologians rarely like to take risks to see if their ideas have real world merit. And many engineers are venture capitalists or get help from venture capitalists. These bright engineers must be smart enough to need the help.
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I have previously pointed out that current economics is out-dated, much to the annoyance of economic graduates. The point is that accountants, economists and solicitors are society parasites. You need civil engineers(electrical, mechanical and 'civil'), theologians and philosophers to push society forwards. Why do we put up with a bunch of people who arte out fo themselves?
Economics - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
greed
Answer 2 :
The credit crunch is proving that the banks loose loans and credit application approvals are coming back to bite them..
Answer 3 :
Nothing will be manufactured without money. Therefore the need for ventured capitalists.....no matter what you invent. If it isnt developed, manufactured and marketed, the greatest gizmo in the world is going sit there like a bump on a log.
Answer 4 :
But civil engineers and theologians rarely have the interest it takes, including self-interest to: find an idea to make money; assemble the resource owners , the capital owners , and the employees who are willing to join them in an enterprise that the latter groups think will maximize their satisfaction with their contributions. The people who contribute money or resources or labor face the loss of their investment if the venture fails. For employees that means they probably gave up a job to join the new venture and face unemployment as well as the benefits had they stayed where they were previously employed. Philosophers and theologians rarely like to take risks to see if their ideas have real world merit. And many engineers are venture capitalists or get help from venture capitalists. These bright engineers must be smart enough to need the help.
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Tuesday, December 14, 2010
Is ACCA a 'Chartered Accountant"?
Is ACCA a 'Chartered Accountant"?
I have seen some answers referring to Privy council decision, but in their website / ACCA website, nowhere I found the clear statement about it. I am not expecting a ICAEW vs ACCA comparison, I just want to know Yes / No and a clear reference...as simple as that.
Other - Education - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
A Chartered Accountant is a member of the ICAEW (or the ICAS or ICAI). A chartered certified accountant is a member of the ACCA.
Answer 2 :
Simple answer: yes. There are three main bodies awarding bodies for accounting exams: ACA/ICAEW, ICAS and ACCA. All three have been awarded royal charters by the Privy Council, so graduates from any may refer to themselves as Chartered Accountants. Before this ruling, only ICAS members could refer to themselves as chartered accountants, while ACA/ICAEW graduates were Associate Chartered Accountants. One of the biggest disagreements that stopped the two merging was that ICAS members did not want ACA members to use the CA status.
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I have seen some answers referring to Privy council decision, but in their website / ACCA website, nowhere I found the clear statement about it. I am not expecting a ICAEW vs ACCA comparison, I just want to know Yes / No and a clear reference...as simple as that.
Other - Education - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
A Chartered Accountant is a member of the ICAEW (or the ICAS or ICAI). A chartered certified accountant is a member of the ACCA.
Answer 2 :
Simple answer: yes. There are three main bodies awarding bodies for accounting exams: ACA/ICAEW, ICAS and ACCA. All three have been awarded royal charters by the Privy Council, so graduates from any may refer to themselves as Chartered Accountants. Before this ruling, only ICAS members could refer to themselves as chartered accountants, while ACA/ICAEW graduates were Associate Chartered Accountants. One of the biggest disagreements that stopped the two merging was that ICAS members did not want ACA members to use the CA status.
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Tuesday, December 7, 2010
What are popular leisure activities favoured mainly by the British upper-middle class?
What are popular leisure activities favoured mainly by the British upper-middle class?
Remember, upper-middle-class is not the same as upper class or even middle-class. They are not the aristocracy nor are they school teachers, nurses and accountants. Typical upper-middle-class people hold prestigous professions or are top level managers. They are usually employed in such jobs as surgeons, barristers, university professors, bank managers and financiers, upper management in corporations, and high level stock traders in the City. In other words, while they might be seen as well off, they still must work for their money. They normally wouldn't have the kind of money to pursue the type of entertainment the aristocracy would pursue, but they are affluent enough to do things most people can't afford. 10 points to the best and most insightful answer. Thanks!
Other - Society & Culture - 10 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
This type usually engages in snobbery and heavy drinking.
Answer 2 :
Hunting and shooting, buying cases of wine and port, driving their 4x4's and going to charity functions at the school!
Answer 3 :
Boating, wether they own it or not. Horseracing, on big race days. Entertaining, at home or out. Golf, without a doubt.
Answer 4 :
I believe they spend most of their day balls deep in man hole
Answer 5 :
Oh! I like to play Golf and sometimes a little Croquet and Bridge. Things of that sort amuse me.
Answer 6 :
Topless Co-ed Pogo-stick racing
Answer 7 :
Leaving the children alone while carousing in a Tapas Bar.
Answer 8 :
i would say based on your criteria that i am upper middle class. i am also 26 years old, so that throws a bit of a different light on things i guess. i would say that i like doing the things that most 26 year olds do...clubbing, going to the beach, shopping, cinema, hanging out with friends...but then again my income means that i can afford to stay in nice hotels if i go away for a weekend, wear a designer wardrobe and take more exotic holidays than most of my friends (who, in your class system would not qualify as upper middle class!) oh, and boating and riding, which i guess are the only stereotypical upper middle class activites i enjoy
Answer 9 :
Taking potshots at the peasants, they are so uncouth. I've been told that when hit by buckshot they don't feel anything so it's not as though we're harming anyone!
Answer 10 :
Upper middle class aka working class done good,probably enjoy,mile high club,bit of skiing,sorry let's stop it right here. Its hard to distinguish between the classes these days as there are so many millionaires from all classes,which you'll find enjoy the same leisure activities pretty much like what everyone else does,ie gym,sports,shopping,dining out,movies,theatre,exotic holidays,horse riding,but costing top brass. As for aristocracy,they've usually got nothing but an inherited old estate that they can hardly afford to run.
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Remember, upper-middle-class is not the same as upper class or even middle-class. They are not the aristocracy nor are they school teachers, nurses and accountants. Typical upper-middle-class people hold prestigous professions or are top level managers. They are usually employed in such jobs as surgeons, barristers, university professors, bank managers and financiers, upper management in corporations, and high level stock traders in the City. In other words, while they might be seen as well off, they still must work for their money. They normally wouldn't have the kind of money to pursue the type of entertainment the aristocracy would pursue, but they are affluent enough to do things most people can't afford. 10 points to the best and most insightful answer. Thanks!
Other - Society & Culture - 10 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
This type usually engages in snobbery and heavy drinking.
Answer 2 :
Hunting and shooting, buying cases of wine and port, driving their 4x4's and going to charity functions at the school!
Answer 3 :
Boating, wether they own it or not. Horseracing, on big race days. Entertaining, at home or out. Golf, without a doubt.
Answer 4 :
I believe they spend most of their day balls deep in man hole
Answer 5 :
Oh! I like to play Golf and sometimes a little Croquet and Bridge. Things of that sort amuse me.
Answer 6 :
Topless Co-ed Pogo-stick racing
Answer 7 :
Leaving the children alone while carousing in a Tapas Bar.
Answer 8 :
i would say based on your criteria that i am upper middle class. i am also 26 years old, so that throws a bit of a different light on things i guess. i would say that i like doing the things that most 26 year olds do...clubbing, going to the beach, shopping, cinema, hanging out with friends...but then again my income means that i can afford to stay in nice hotels if i go away for a weekend, wear a designer wardrobe and take more exotic holidays than most of my friends (who, in your class system would not qualify as upper middle class!) oh, and boating and riding, which i guess are the only stereotypical upper middle class activites i enjoy
Answer 9 :
Taking potshots at the peasants, they are so uncouth. I've been told that when hit by buckshot they don't feel anything so it's not as though we're harming anyone!
Answer 10 :
Upper middle class aka working class done good,probably enjoy,mile high club,bit of skiing,sorry let's stop it right here. Its hard to distinguish between the classes these days as there are so many millionaires from all classes,which you'll find enjoy the same leisure activities pretty much like what everyone else does,ie gym,sports,shopping,dining out,movies,theatre,exotic holidays,horse riding,but costing top brass. As for aristocracy,they've usually got nothing but an inherited old estate that they can hardly afford to run.
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