6 Reasons to look at your Financial Reports

6 Reasons To Look at...

Making time to look over your financial reports each month is an important task for any business owner. If you are not taking the time to do this, either because you’re too busy, or perhaps you don’t really…

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Difference between Financial and Management Accounts

Do you know the Difference...

You’re running a business, so you know the legal requirements around producing accounts and submitting tax returns. But do you truly know WHY you’ve engaged an accountant? And do you understand the value that a good accountant and…

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Outsourcing process

Hassle-free Accounting Outsourcing Process in...

Hassle-free Accounting Outsourcing Process in 5 Easy Steps Outsourcing of business processes started gaining popularity back in the 80s. It aimed at combatting the rising labour costs and the progressive trends in the global marketplace. Today, business owners…

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Yearend Essentials

10 Essential Things Every Small...

10 Essential Things Every Small Business Owner Should do Before End of the Year Have you noticed how it’s already Q2 and, most small business owners are deeply immersed in prepping for Q4? Despite the invisible enemy (Covid-19),…

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Accounting Skills for Entrepreneurs

Why are Accounting skills Indispensable...

Why are Accounting skills Indispensable for Entrepreneurs? Today, ask any business owner how they made it happen; they may have different stories to tell. Yet, it all comes down to a firm grasp of the accounting fundamentals. Any…

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Accountant

How to Choose the Right...

How to Choose the Right Small Business Accountant Once you have decided it’s time to hire an accountant, the next question is who? Let along how! For any small business, choosing the right accountant is critical. In the…

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Expenses

5 Steps of Preventing Expense...

5 Steps of Preventing Expense Fraud Consider the following expense fraud schemes; air ticket fare for a cancelled flight, payment for unsupplied tenders. Shocker! Right? While it’s easy to imagine a few pounds here and there won’t hurt, expense…

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Cash & Accrual Based Accounting

Cash-based and Accrual based Accounting

Let’s face it _ accounting should be left for accountants. It often feels like their jargon needs translating. Other than accountants, who else uses accrual? Should your business use cash or accrual-based accounting? These are fair questions. Yet,…

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Revenue Recognition

Revenue Recognition and Impact on...

Are you thinking ahead? What next? Revenue recognition standards not only affect publicly traded corporations and large private companies. It could also impact small businesses, especially if they have plans to get more funding. What is Revenue Recognition?…

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Xero

Cloud Accounting and the Benefits...

Cloud Accounting Desktop accounting software is gradually becoming a thing of the past. Big and small businesses are now looking to have cloud-based accounting solutions for bookkeeping, payroll, statutory accounts and filing tax returns. Take control with Ernest…

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