Following the success of the Companies Act 2006 update seminars we have held this year at our head office in the north-west and also in central Birmingham, we are pleased to announce a further date, this time in central London, on Wednesday 26th June at the CBI Conference Centre. The venue is situated in the Centre Point Tower next to Tottenham Road Tube station and runs from 9.45am to 12.45pm. The cost to attend, per delegate, is £85 + VAT [read more →]
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HOW TO PRODUCE MONTHLY MANAGEMENT ACCOUNTS – A QUICK GUIDE
By: Mazhar Mahmood ACMA
This guide is primarily aimed at fresh graduates, entry level job hires, professional students, and any individual related to the profession of accountancy (and management accountancy in particular), who wishes to have a quick overview of how a set of management accounts can be produced and what entails in its production, without having to read a 200 page book. Most of the knowledge set out henceforth is from [read more →]
Fixed Fees – the end of the timesheet?
It is increasingly difficult for accountants in practice to base their business model on charging out fees based on time spent. Time sheets are important more for monitoring than for using as the basis of charging time as clients are expecting fixed fee propositions.
Time sheets can help you profile your business if you use them wisely by indicating which clients are giving a proper recovery. This is turn will then help you focus [read more →]
I went to a networking meeting last week which included a presentation from a marketing expert who was talking about using on-line tools to generate leads.
He was talking about building a “sales funnel” but was picked up by a member of the audience who expressed a view that it was perhaps a filter not a funnel as otherwise both good and poor quality leads could end up passing through the funnel and ending up as clients.
I thought [read more →]
In my opinion there are three main areas accountants should focus on, given a desire to protect their income and grow their practices.
These are Risk, Quality and Marketing. Providing support to existing clients is also clearly important and can actually be complementary to developing new sales propositions in so far as the new propositions may be able to add value to the businesses of existing clients.
Clearly accountants, like all professionals, are [read more →]
Too often I notice that when we meet a new client they are not asking the right questions.
Apart from the basics, such as “can you do my VAT and my accounts?” and “how much is it going to cost?” there are other relevant questions that may be asked or atleast queried by the client.
First things first, ask about the accountant’s qualifications, ACCA, ACA, CIMA, AAT, etc
If there are more than one partner/director in the firm, ask about them too.
There may [read more →]
Firstly, ask yourself, why do I need an accountant?
You may have recently started up a new business either as a sole trader or a partnership, or have incorporated a company.
You may have rental income from properties.
You may have made a capital gain from selling a property.
You may have foreign income that you wish to or are required to declare.
You may just have a business idea in your head that you wish to discuss.
If you can relate to any one or [read more →]