Small business. Anyone had a failure, stopped trading, no money to pay accountant to do year end? What now?
Small Business - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Sit down and think about what caused the failure. If you are in debt go bankrupt and the nobody gets paid.
Answer 2 :
I am a bookkeeper/accountant, you should have had someone to guide you through the year, please give me a call on 07984-235701, and lets see if we can sort this out for you. There will be lots of thing to consider, including bankruptcy, and continuing trading - also preserving your assets, for the future.
Answer 3 :
Why do you need to pay the accountant to do year end if your business has failed? Unfortunately, the majority of small businesses do fail because of undercapitalization. Do what you can to salvage enough to enjoy the holidays and plan to kick off the new year with a new venture. It not personal. It's business.
Answer 4 :
I worry when people leave phone numbers on websites I really do......... If you really do have no money to pay for accounts/bookkeeping or year end then can I suggest you contact your local citizens advice bureau........They are free and could direct you to someone local who may be willing to help. Good luck.
Answer 5 :
Since it is a business and not a company, you don't acctually need an accountant to do ANYTHING for your business. I have been in Business for myself for years, and have never used an accountant. I have also had some of my businesses not work out, but still not needed an accountant. If you are unsure no how to do it, Go to a bookshop, a big one like Waterstones and browse through the business section for books on simple accountancy. I like the "Teach Yourself" books. This should help you. Failing that, e-mail me for any help you may need, and I can give you pointers.
Read more other entries :
Friday, December 28, 2012
Friday, December 14, 2012
Is an Accountant a good job???
Is an Accountant a good job???
i am going on to a course to train to be an accountant and want to know if its a good job?? :) Thanks skibz26. i would start off as a trainee accountant and work up!!! how do i rate the best question??
Other - Careers & Employment - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
It makes you a healthy living, that's for sure. And if it interests you, you're good at math, you have the degree, and you think you can do it for the rest of your life, go for it.
Answer 2 :
Yes it is a good job but I might add I have a friend who trained and got her degree and couldnt get work as one so had to retrain as a Teacher.
Answer 3 :
yes but it gets reaallly stressful during tax season. my dad owns his own business and works from 7am til 11pm at night 7 days a week during tax season. so yea...it can be stressful.
Answer 4 :
yes..it is a very nice job
Answer 5 :
I have a mate that is a senior accountant will a large accounting firm. He loves working with clients and gets paid very well for his work. He dosent always stay in his office 5 days a week, he often has to go to clients offices and occassionally interstate as well. So If you do well, accounting can be a rewarding career.
Read more other entries :
i am going on to a course to train to be an accountant and want to know if its a good job?? :) Thanks skibz26. i would start off as a trainee accountant and work up!!! how do i rate the best question??
Other - Careers & Employment - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
It makes you a healthy living, that's for sure. And if it interests you, you're good at math, you have the degree, and you think you can do it for the rest of your life, go for it.
Answer 2 :
Yes it is a good job but I might add I have a friend who trained and got her degree and couldnt get work as one so had to retrain as a Teacher.
Answer 3 :
yes but it gets reaallly stressful during tax season. my dad owns his own business and works from 7am til 11pm at night 7 days a week during tax season. so yea...it can be stressful.
Answer 4 :
yes..it is a very nice job
Answer 5 :
I have a mate that is a senior accountant will a large accounting firm. He loves working with clients and gets paid very well for his work. He dosent always stay in his office 5 days a week, he often has to go to clients offices and occassionally interstate as well. So If you do well, accounting can be a rewarding career.
Read more other entries :
Friday, December 7, 2012
How do you value a business?
How do you value a business?
Hello. I am writing on behalf of my mother in law. She started a cafe up with a friend, but the partnership has failed and my mother in law has left the business. Her business partner says that the business needs to be valued by an accountant, is this correct? And can my mother in law hire her own accountant at this point, to aquire her own independant valuation (if this is neccessary?). Thanks for any information you can give me.
Small Business - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I dont think so... she can leave if she wants to but if she pau her share that is it, done. but if this is about her selling her half than she should to get teh best price. answer mine http://answers.yahoo.com/question/index;_ylt=AvqOhKwjMyiye6bRszIZBe_sy6IX;_ylv=3?qid=20100824214340AAI0sxC
Answer 2 :
The value of anything is the present value of all future cash flows. You need to find a finance expert to evaluate this. An accountant might be able to do this, but it will be a subjective number based on whether you believe the business will grow or contract. At the very least an accountant should be able to point you to the right direction. Hope that helps
Answer 3 :
An independent valuation by a specialist accountant or valuer that has knowledge of this type of business would be the route to take. The accountant should be decided upon by both partners so that he will be "Independent". Based on his valuation the remaining partner must then pay up the 50% of the total to the departing partner. Failing this or failing an agreement, then the business should be sold and the profit split 50-50. All this will be less the accountants fee. Important that you have this specialist accountant or valuer and not just any old accountant.
Read more other entries :
Hello. I am writing on behalf of my mother in law. She started a cafe up with a friend, but the partnership has failed and my mother in law has left the business. Her business partner says that the business needs to be valued by an accountant, is this correct? And can my mother in law hire her own accountant at this point, to aquire her own independant valuation (if this is neccessary?). Thanks for any information you can give me.
Small Business - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I dont think so... she can leave if she wants to but if she pau her share that is it, done. but if this is about her selling her half than she should to get teh best price. answer mine http://answers.yahoo.com/question/index;_ylt=AvqOhKwjMyiye6bRszIZBe_sy6IX;_ylv=3?qid=20100824214340AAI0sxC
Answer 2 :
The value of anything is the present value of all future cash flows. You need to find a finance expert to evaluate this. An accountant might be able to do this, but it will be a subjective number based on whether you believe the business will grow or contract. At the very least an accountant should be able to point you to the right direction. Hope that helps
Answer 3 :
An independent valuation by a specialist accountant or valuer that has knowledge of this type of business would be the route to take. The accountant should be decided upon by both partners so that he will be "Independent". Based on his valuation the remaining partner must then pay up the 50% of the total to the departing partner. Failing this or failing an agreement, then the business should be sold and the profit split 50-50. All this will be less the accountants fee. Important that you have this specialist accountant or valuer and not just any old accountant.
Read more other entries :
Saturday, December 1, 2012
I have just applied to university to study business accounting and finance, how much do accountants earn?
I have just applied to university to study business accounting and finance, how much do accountants earn?
I think i would like to move to London when i qualify and work for a big company.
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
ask placement people at your Uni ... they likely have statistics from last year's graduates.
Answer 2 :
Do a jobsearch on a accountancy agencies website, I'm sure Hays usually post a salary survey on their website which splits it by specialism and demographic and should give you a pretty good idea. It will depend on whether you go practice/industry, management/finance, private/public sector etc.
Read more other entries :
I think i would like to move to London when i qualify and work for a big company.
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
ask placement people at your Uni ... they likely have statistics from last year's graduates.
Answer 2 :
Do a jobsearch on a accountancy agencies website, I'm sure Hays usually post a salary survey on their website which splits it by specialism and demographic and should give you a pretty good idea. It will depend on whether you go practice/industry, management/finance, private/public sector etc.
Read more other entries :
Wednesday, November 28, 2012
How bent is YOUR accountant?
How bent is YOUR accountant?
Polls & Surveys - 11 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
he can kiss his arse
Answer 2 :
That would depend on the position I was in... EDIT Sorry I meant predicament
Answer 3 :
straight.
Answer 4 :
Not bent but very very good. Not paid tax in 4 years, and I also get some form of benifit I did'nt know i was entiteled to!
Answer 5 :
We have a "financial guy" and he is excellent. We have a tax person and she is a riot. No one is bent.
Answer 6 :
They are not. At $350.00 per hour, they cannot afford to risk their reputation at such crookedness. It just isn't worth it!
Answer 7 :
He walks around looking like the letter 'r'.
Answer 8 :
i don't have one
Answer 9 :
He's a bit short and curly.
Answer 10 :
By my reckoning, he is more than capable of double entry, but I have heard that he moonlights as a chef and cooks the books !! haha
Answer 11 :
as a 2 bob bit
Read more other entries :
Polls & Surveys - 11 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
he can kiss his arse
Answer 2 :
That would depend on the position I was in... EDIT Sorry I meant predicament
Answer 3 :
straight.
Answer 4 :
Not bent but very very good. Not paid tax in 4 years, and I also get some form of benifit I did'nt know i was entiteled to!
Answer 5 :
We have a "financial guy" and he is excellent. We have a tax person and she is a riot. No one is bent.
Answer 6 :
They are not. At $350.00 per hour, they cannot afford to risk their reputation at such crookedness. It just isn't worth it!
Answer 7 :
He walks around looking like the letter 'r'.
Answer 8 :
i don't have one
Answer 9 :
He's a bit short and curly.
Answer 10 :
By my reckoning, he is more than capable of double entry, but I have heard that he moonlights as a chef and cooks the books !! haha
Answer 11 :
as a 2 bob bit
Read more other entries :
Wednesday, November 14, 2012
How can I get my P60 from a company that has gone into lidquidation?
How can I get my P60 from a company that has gone into lidquidation?
I was made redundant, no notice given, ask for my P60 so many times, even spoke to the company accountant who is refusing to give me my P60
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I think you mean your P45. If the employer refuses to give you the form, report him to HMRC.
Read more other entries :
I was made redundant, no notice given, ask for my P60 so many times, even spoke to the company accountant who is refusing to give me my P60
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I think you mean your P45. If the employer refuses to give you the form, report him to HMRC.
Read more other entries :
Wednesday, November 7, 2012
What Are some high salary jobs when you have to go to university?
What Are some high salary jobs when you have to go to university?
I'm in secondary school and i have to choose my GCSE's in 3 weeks so i need an idea of what i want to be. Oh by the way please don't mention lawyer, doctor, nurse, or accountant. Sorry if i'm a bit fussy, it' s just, i know i don't want to do any of those. I'm into Music and Drama but it won't get me into university will it?
Higher Education (University +) - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Perhaps the type of career you are considering may be something people do for reasons other than money. It would help to know what kind of things interest you now, what subjects interest you in school? YES music and drama can get you into university. You can get a doctorate in music. All kinds of degrees are available relating to drama, theatre and film.
Answer 2 :
Engineer - they get pretty good salaries, especially in the Oil & Gas industry.
Read more other entries :
I'm in secondary school and i have to choose my GCSE's in 3 weeks so i need an idea of what i want to be. Oh by the way please don't mention lawyer, doctor, nurse, or accountant. Sorry if i'm a bit fussy, it' s just, i know i don't want to do any of those. I'm into Music and Drama but it won't get me into university will it?
Higher Education (University +) - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Perhaps the type of career you are considering may be something people do for reasons other than money. It would help to know what kind of things interest you now, what subjects interest you in school? YES music and drama can get you into university. You can get a doctorate in music. All kinds of degrees are available relating to drama, theatre and film.
Answer 2 :
Engineer - they get pretty good salaries, especially in the Oil & Gas industry.
Read more other entries :
Thursday, November 1, 2012
Should i change my course from accountancy to wildlife conservation?
Should i change my course from accountancy to wildlife conservation?
I am 21 years old doing my chartered accountancy course in India. I always wanted to be close to animals & work with them. I would like to get into wildlife rehabilitation. It seems to be the purpose of my life. But i am one step away from being a Chartered accountant. I would like to go to the US & study biology & wildlife conservation. What should i do? Is it too late for me to switch courses at this point of time?
Conservation - 12 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
ditch the accountancy, suggest that is no way to live a life stuck behind a desk, get out there and help all the wildlife you can, they need it more than the world needs another accountant.
Answer 2 :
Chase the dream xx you might regret it if you don't good luck xx
Answer 3 :
It's never too late. If you find something you love doing, you'll never work a day in your life, and if your calling is animals, then go for it. I do have to admit though.. that's a weird combination.. animals and numbers.. Good luck to you!
Answer 4 :
Don't see why not, after all they are both based on numbers.
Answer 5 :
21 is still very young! At least in the US it is-- look at me, I'm 25 and only on my second year of college, majoring in Biology. Prior to deciding on biology I took a varity of classes, I didn't want to make any hasty decisions! This is a major part of life I'm deciding on, afterall.... It sounds like you were pressured to think "realistically" about your career decisions, thus you chose accounting. Bleh! Follow your dreams, be happy with your life! Your happiness will create more happiness in other peoples lives and you will do an unmeasurable amount of good when you are following your true path. Good luck!
Answer 6 :
Do the one step to become an account, then do to wildlife conservation thing. At the end of the day then you can maybe help out on that side of the conservation bit. Also if the conservation thing doesnt work out, at least you'll still have the accountancy to fall back on.
Answer 7 :
Accountancy will pay you, where wildlife conservation may not. I'd get your degree, get a job, and work on your dream in your spare time. Wildlife biologists often have a hard time finding work - there's a lot more of them than there are jobs for them. DK
Answer 8 :
YES I THINK SO BECAUSE THIS FEILD IS THE HOTTEST TOPIC NOW
Answer 9 :
Stay with the accounting as your primary. It is better to have options as the door very seldom opens where U want to go.
Answer 10 :
Friend: I have 3 answers to your question: YES - I welcome you to my career field. There are limited jobs, many of them start off as nonpaid, volunteer positions, but will give you valuable experience that will qualify you for greater responsibilities. If you're doing what you love to do, you'll never have "Just A Job", and each day you go to work will be a reward in itself. NO - If you are that close to finishing, you should stay in a career field where you will easily earn the highest income, then you can dedicate your free time, as many people do, to pursue your more enjoyable interests. This way, you'll reach your highest earning potential while enabling you to accomplish more of your leasure, outdoor pastimes, but you won't starve. SOMEWHAT - We need accountants, lawyers, clerks, cartographers, salesperson...(insert any occupation you can name) because it takes a lot of support to protect and manage animals in their natural environments. You have many outdoor, conservation organizations, both professional and nonprofessional who need members. Good Luck, I know you'll do good where ever you go.
Answer 11 :
If you are in your final year of accounting then I would recommend you finish that then go on to do wildlife conservation. You will at least have something to fall back on and accounting is a useful skill. Even conservation projects run on a budget and donations. I did animal conservation science and loved every minute of it and am now a zookeeper. Most people end up doing something totally different to the subject there actually qualified in. Good luck
Answer 12 :
finish your accountant course and after get the biology & wildlife conservation.
Read more other entries :
I am 21 years old doing my chartered accountancy course in India. I always wanted to be close to animals & work with them. I would like to get into wildlife rehabilitation. It seems to be the purpose of my life. But i am one step away from being a Chartered accountant. I would like to go to the US & study biology & wildlife conservation. What should i do? Is it too late for me to switch courses at this point of time?
Conservation - 12 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
ditch the accountancy, suggest that is no way to live a life stuck behind a desk, get out there and help all the wildlife you can, they need it more than the world needs another accountant.
Answer 2 :
Chase the dream xx you might regret it if you don't good luck xx
Answer 3 :
It's never too late. If you find something you love doing, you'll never work a day in your life, and if your calling is animals, then go for it. I do have to admit though.. that's a weird combination.. animals and numbers.. Good luck to you!
Answer 4 :
Don't see why not, after all they are both based on numbers.
Answer 5 :
21 is still very young! At least in the US it is-- look at me, I'm 25 and only on my second year of college, majoring in Biology. Prior to deciding on biology I took a varity of classes, I didn't want to make any hasty decisions! This is a major part of life I'm deciding on, afterall.... It sounds like you were pressured to think "realistically" about your career decisions, thus you chose accounting. Bleh! Follow your dreams, be happy with your life! Your happiness will create more happiness in other peoples lives and you will do an unmeasurable amount of good when you are following your true path. Good luck!
Answer 6 :
Do the one step to become an account, then do to wildlife conservation thing. At the end of the day then you can maybe help out on that side of the conservation bit. Also if the conservation thing doesnt work out, at least you'll still have the accountancy to fall back on.
Answer 7 :
Accountancy will pay you, where wildlife conservation may not. I'd get your degree, get a job, and work on your dream in your spare time. Wildlife biologists often have a hard time finding work - there's a lot more of them than there are jobs for them. DK
Answer 8 :
YES I THINK SO BECAUSE THIS FEILD IS THE HOTTEST TOPIC NOW
Answer 9 :
Stay with the accounting as your primary. It is better to have options as the door very seldom opens where U want to go.
Answer 10 :
Friend: I have 3 answers to your question: YES - I welcome you to my career field. There are limited jobs, many of them start off as nonpaid, volunteer positions, but will give you valuable experience that will qualify you for greater responsibilities. If you're doing what you love to do, you'll never have "Just A Job", and each day you go to work will be a reward in itself. NO - If you are that close to finishing, you should stay in a career field where you will easily earn the highest income, then you can dedicate your free time, as many people do, to pursue your more enjoyable interests. This way, you'll reach your highest earning potential while enabling you to accomplish more of your leasure, outdoor pastimes, but you won't starve. SOMEWHAT - We need accountants, lawyers, clerks, cartographers, salesperson...(insert any occupation you can name) because it takes a lot of support to protect and manage animals in their natural environments. You have many outdoor, conservation organizations, both professional and nonprofessional who need members. Good Luck, I know you'll do good where ever you go.
Answer 11 :
If you are in your final year of accounting then I would recommend you finish that then go on to do wildlife conservation. You will at least have something to fall back on and accounting is a useful skill. Even conservation projects run on a budget and donations. I did animal conservation science and loved every minute of it and am now a zookeeper. Most people end up doing something totally different to the subject there actually qualified in. Good luck
Answer 12 :
finish your accountant course and after get the biology & wildlife conservation.
Read more other entries :
Sunday, October 28, 2012
Has anyone ever used a company called Taxassist accountants Any good?
Has anyone ever used a company called Taxassist accountants Any good?
I'm thinking of going to this large UK organisation called Taxassist.co.uk. They look good but can anyone who knows about them or has used them let me know if they're any good?
Small Business - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Never heard of them so can't comment. But I would always recommend that a business uses a local, friendly Accountant - if you have a problem it is much easier to sort out face to face, and a small company tends to offer a more personal service. It's great to be be on friendly terms with your Accountant - it makes life so much easier, and they will help you with other things as well as tax.
Answer 2 :
I currently use TaxAssist in London Bridge. Although they are a large network, each office is owned by a separate owner so you are dealing with a small local business with the support of a large network. Have been using them for 4 years now. They are local to me and I'm able to pop in to discuss my accounts and sign everything off. I have found them to be reliable and have always been willing to help. Never missed a deadline and they have always provided a friendly service. Chris Director
Read more other entries :
I'm thinking of going to this large UK organisation called Taxassist.co.uk. They look good but can anyone who knows about them or has used them let me know if they're any good?
Small Business - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Never heard of them so can't comment. But I would always recommend that a business uses a local, friendly Accountant - if you have a problem it is much easier to sort out face to face, and a small company tends to offer a more personal service. It's great to be be on friendly terms with your Accountant - it makes life so much easier, and they will help you with other things as well as tax.
Answer 2 :
I currently use TaxAssist in London Bridge. Although they are a large network, each office is owned by a separate owner so you are dealing with a small local business with the support of a large network. Have been using them for 4 years now. They are local to me and I'm able to pop in to discuss my accounts and sign everything off. I have found them to be reliable and have always been willing to help. Never missed a deadline and they have always provided a friendly service. Chris Director
Read more other entries :
Sunday, October 14, 2012
Anyone know the name of that film where a sporting scout writes a mission statement?
Anyone know the name of that film where a sporting scout writes a mission statement?
Anyone know the name of that film where a sporting scout writes a mission statement? The only things I can remember are him waking in the middle of the night, writing it, having it copied and then everyone clapping him. Then he was on a plane and meets the accountant from the company he works for. Im sure that it began with a shot of the world from outer space of something. Cheers.
Movies - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
JERRY MCGUIRE
Answer 2 :
This is definitely Jerry Maguire - 1997 - starring Tom Cruise, Renee Zellwegger and Cuba Gooding Jr.
Read more other entries :
Anyone know the name of that film where a sporting scout writes a mission statement? The only things I can remember are him waking in the middle of the night, writing it, having it copied and then everyone clapping him. Then he was on a plane and meets the accountant from the company he works for. Im sure that it began with a shot of the world from outer space of something. Cheers.
Movies - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
JERRY MCGUIRE
Answer 2 :
This is definitely Jerry Maguire - 1997 - starring Tom Cruise, Renee Zellwegger and Cuba Gooding Jr.
Read more other entries :
Sunday, October 7, 2012
How to answer this interview question?
How to answer this interview question?
I am applying for a graduate trainee accountant position and im stuck on ho to answer this question? In a democracy, How do you deal with matters with which you may not agree? Can anyone suggest a inning answer to this question. Thanks in advance.
Other - Careers & Employment - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
im a true believer of democracy so although i would make my opinion clear, i would agree to go with the majority opinion and not let it effect the quality of my work. or something along those lines
Answer 2 :
"I respect the opinions of others and expect the same for my own. If I truly believe in something, I will stand behind it. However, I am an open-minded person who will listen and consider others' opinions and values before I come to a conclusion." This is a fairly straightforward answer. You want to show compassion for others at the same time you want to show decisiveness and confidence. There's some key words in there - listen, open-minded, respect, and even the word expect. Remain confident but compassionate
Answer 3 :
If it's a democracy then you hold a free and fair vote! You campaign for your viewpoint, but if you lose, you accept it with good grace because that's what a democracy is.
Read more other entries :
I am applying for a graduate trainee accountant position and im stuck on ho to answer this question? In a democracy, How do you deal with matters with which you may not agree? Can anyone suggest a inning answer to this question. Thanks in advance.
Other - Careers & Employment - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
im a true believer of democracy so although i would make my opinion clear, i would agree to go with the majority opinion and not let it effect the quality of my work. or something along those lines
Answer 2 :
"I respect the opinions of others and expect the same for my own. If I truly believe in something, I will stand behind it. However, I am an open-minded person who will listen and consider others' opinions and values before I come to a conclusion." This is a fairly straightforward answer. You want to show compassion for others at the same time you want to show decisiveness and confidence. There's some key words in there - listen, open-minded, respect, and even the word expect. Remain confident but compassionate
Answer 3 :
If it's a democracy then you hold a free and fair vote! You campaign for your viewpoint, but if you lose, you accept it with good grace because that's what a democracy is.
Read more other entries :
Monday, October 1, 2012
What accounts should I use to post the opening balances in Sage for the following?
What accounts should I use to post the opening balances in Sage for the following?
I come across this practical question when going through my Sage course. Enter the following opening balance journal as provided by the accountant. Nominal description Nominal code Machinery 35000 (dr) Machinery Depreciation 15000(cr) Equipment 20000 (dr) Equipment Depreciation 5000 (cr) Opening stock 2500(dr) Prepayment 500(dr) Bank current a/c 2254.24(dr) Petty Cash 100(dr) PAYE liability 334.36(cr) NI liability 519.88(cr) Loan 25000(cr) Capital account 14500(cr) I am not completely sure how this works so I would appreciate if someone could explain all this to me. I know that when using the journal there should be 2 entries one on the debit side and one on the credit side. What I don't know is what is the correspondig account for each nominal account listed. Thank you in advance. Kind regards, Cristina
Corporations - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
There is nothing set in stone that determines the number f entries for the debit side or credit side. The rule is that when making a journal entry the total debits minus total credits must equal zero. You could have an entry that has 100 debit items totaling $500 and only one credit item totaling $500, but the result is $500 - $500 = 0. If I'm understanding your question, the accounts listed above are situations. Also, to show an increase in an asset, expense, or withdrawl you have to debit that account, a decrease is a credit. The exception is when you have an asset contra account. For example, accumulated depreciation is increased with a credit and decreased with a debit. This account pairs with either equipment or building to reduce that account over time. For liabilities, equity, and revenues it's reversed. Credits increase those accounts and debits decrease them. I'll do one because there is certain information left out of the question and you can record things a few different ways. For example: Machinery 35000 (dr) If machinery is debited 35000, then the account has increased. Since there has to also be a credit somewhere, you can assume that either cash was used or you are invoiced. When cash is used: debit machinery 35,000 --- credit cash 35,000 When purchased on account is used: debit machinery 35,000 ---credit accounts payable 35,000 Hope this helps.
Read more other entries :
I come across this practical question when going through my Sage course. Enter the following opening balance journal as provided by the accountant. Nominal description Nominal code Machinery 35000 (dr) Machinery Depreciation 15000(cr) Equipment 20000 (dr) Equipment Depreciation 5000 (cr) Opening stock 2500(dr) Prepayment 500(dr) Bank current a/c 2254.24(dr) Petty Cash 100(dr) PAYE liability 334.36(cr) NI liability 519.88(cr) Loan 25000(cr) Capital account 14500(cr) I am not completely sure how this works so I would appreciate if someone could explain all this to me. I know that when using the journal there should be 2 entries one on the debit side and one on the credit side. What I don't know is what is the correspondig account for each nominal account listed. Thank you in advance. Kind regards, Cristina
Corporations - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
There is nothing set in stone that determines the number f entries for the debit side or credit side. The rule is that when making a journal entry the total debits minus total credits must equal zero. You could have an entry that has 100 debit items totaling $500 and only one credit item totaling $500, but the result is $500 - $500 = 0. If I'm understanding your question, the accounts listed above are situations. Also, to show an increase in an asset, expense, or withdrawl you have to debit that account, a decrease is a credit. The exception is when you have an asset contra account. For example, accumulated depreciation is increased with a credit and decreased with a debit. This account pairs with either equipment or building to reduce that account over time. For liabilities, equity, and revenues it's reversed. Credits increase those accounts and debits decrease them. I'll do one because there is certain information left out of the question and you can record things a few different ways. For example: Machinery 35000 (dr) If machinery is debited 35000, then the account has increased. Since there has to also be a credit somewhere, you can assume that either cash was used or you are invoiced. When cash is used: debit machinery 35,000 --- credit cash 35,000 When purchased on account is used: debit machinery 35,000 ---credit accounts payable 35,000 Hope this helps.
Read more other entries :
Friday, September 28, 2012
How does one register themselves as self-employed?
How does one register themselves as self-employed?
I want to become a self-employed accountant. I received a conviction last year for paying the wrong fare on the train with intent, but that in NO WAY goes against my integrity as a person, you know, petty crimes like that have been committed by ALL people, just not everybody has been caught. For that reason, I have been considering going self-employed. However, once I achieve a diploma as an accounts technician, how would I set up business?
Small Business - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You need an occupational license from your city and/or county. Register with the state to get a tax ID number. The easiest business to form is a sole proprietorship. Do some research online. Check out legalzoom.com to see the options you have. This site is really helpful and costs a lot less than hiring an attorney to do the work for you. Good luck, hope this helps.
Answer 2 :
All the steps you need to register self-employed are here on the HM Government website http://www.hmrc.gov.uk/selfemployed/iwtregister-as-self-employed.htm Probably worth looking to join one of the professional bodies like the ACCA if you're starting out and want credibilty. http://uk.accaglobal.com/
Read more other entries :
I want to become a self-employed accountant. I received a conviction last year for paying the wrong fare on the train with intent, but that in NO WAY goes against my integrity as a person, you know, petty crimes like that have been committed by ALL people, just not everybody has been caught. For that reason, I have been considering going self-employed. However, once I achieve a diploma as an accounts technician, how would I set up business?
Small Business - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You need an occupational license from your city and/or county. Register with the state to get a tax ID number. The easiest business to form is a sole proprietorship. Do some research online. Check out legalzoom.com to see the options you have. This site is really helpful and costs a lot less than hiring an attorney to do the work for you. Good luck, hope this helps.
Answer 2 :
All the steps you need to register self-employed are here on the HM Government website http://www.hmrc.gov.uk/selfemployed/iwtregister-as-self-employed.htm Probably worth looking to join one of the professional bodies like the ACCA if you're starting out and want credibilty. http://uk.accaglobal.com/
Read more other entries :
Friday, September 14, 2012
French for accountant's?
French for accountant's?
I want to say that my friend works at an accountant's, not that she is an accountant, just that she works there. I thought I could say an accounting business, maybe like this: 'entreprise de comptabilité'? That might be completely wrong though, what is the correct way? Thanks!
Languages - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
An accountant's office is 'agence (f) comptable' Elle traville a une agence compatable
Answer 2 :
Elle travaille dans un cabinet comptable. Elle travaille pour des comptables.
Read more other entries :
I want to say that my friend works at an accountant's, not that she is an accountant, just that she works there. I thought I could say an accounting business, maybe like this: 'entreprise de comptabilité'? That might be completely wrong though, what is the correct way? Thanks!
Languages - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
An accountant's office is 'agence (f) comptable' Elle traville a une agence compatable
Answer 2 :
Elle travaille dans un cabinet comptable. Elle travaille pour des comptables.
Read more other entries :
Friday, September 7, 2012
How accountants can play a vital role in the allocation of support costs in an organisation?
How accountants can play a vital role in the allocation of support costs in an organisation?
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
By providing in depth analysis on the source of the cost object, using the cost behaviour analyis and then provide the understanding to the management. Better understanding on cost can make an impact on the perceived profitability of a product, particularly in a multi product, multi segment environments. Cheers...
Answer 2 :
That is one of the most interesting things that a good cost accountant can do. Accounting is a "relatively" unbiased part of an organization. But the allocation of costs start with a understanding of those costs. At the time that they occur, it is best that they are identified by the cause of the expense. Identifying what the costs are and why they occurred is best as early in the process as possible. Now to segregate them, you can do that with department codes, suffixes, etc. The caution is that you need to make sure that the information is accurate and appropriate. There are often games played by managers. It is also important that you understand the basis on which you are allocating costs. Some need to be on material. Some on labor. Some in overhead allocation. Some should not be allocated at all. It is in identifying and understanding both the reason for the costs and what is the best way to allocate those costs, that the accountant can provide the best information
Read more other entries :
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
By providing in depth analysis on the source of the cost object, using the cost behaviour analyis and then provide the understanding to the management. Better understanding on cost can make an impact on the perceived profitability of a product, particularly in a multi product, multi segment environments. Cheers...
Answer 2 :
That is one of the most interesting things that a good cost accountant can do. Accounting is a "relatively" unbiased part of an organization. But the allocation of costs start with a understanding of those costs. At the time that they occur, it is best that they are identified by the cause of the expense. Identifying what the costs are and why they occurred is best as early in the process as possible. Now to segregate them, you can do that with department codes, suffixes, etc. The caution is that you need to make sure that the information is accurate and appropriate. There are often games played by managers. It is also important that you understand the basis on which you are allocating costs. Some need to be on material. Some on labor. Some in overhead allocation. Some should not be allocated at all. It is in identifying and understanding both the reason for the costs and what is the best way to allocate those costs, that the accountant can provide the best information
Read more other entries :
Saturday, September 1, 2012
Is accounting a dying profession here in the UK? Whats the future for accountants in terms of pay?
Is accounting a dying profession here in the UK? Whats the future for accountants in terms of pay?
Seeing as there are more accountants for each individual than in the whole of europe, are accounting degrees and accounting qualifications useless ? Is a finance career still a good option? The law of demand stated anything which is needed and very easily available will have a value which is cheap... is the future for the accounting Professional ?What do you think?
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You are correct, my last ACCA exam was at Manchester United there were so many people sitting exams over 3000 of them this was just Manchester there are many cities with similar numbers. Though cornwall ACCA exams were funny it was just me and another bloke in an exam room in the middle of a field. Thus by the laws of supply and demand you are correct wages are suppressed. However this is only part of the story, in that you are not only competing against your fellow British people like me, you are Competition against millions in India and China who due to purchasing power disparity will work for much less. The £3 they work an hour for is nothing here but it is good money over there. The main raw material out accountancy practice is data and in the age of the internet this unlike say steel can be moved around incredibly easily. There is also pressure via software I said in another answer Accountancy is dying, outsourcing where Chindians will work for £1-3 an hour who are more qualified than FCCAs is one thing which is destroying the industry. My old place had 27 or so staff they now have 12 or so everybody was pushed bar the interns who scan things in to send to India. Automation is also killing many roles, my personal tax experience was HIGHLY valued in 2005 by 2007 it had been integrated into software making me obselete so I moved to accounts, but then accounts software advanced quickly meaning clients could do most of the work themselves this got hit by outsourcing. So I moved into audit role which can be outsourced again. Ontop of all this bad news there are 10000s of unemployed accountants out there, including me (I do temp jobs and I work as an author these days), in JJB sports warehouse there were NINE FCAs who had been made redundant, these jobs are not coming back. HOWEVER there is ONE gambit, in that although practice accountancy is dying, industry accounting isn't there is an old saying a practice accountant counts wealth, an industry accountant attempts to generate it. Although common functions can be outsourced like payroll or basic book keeping. Business planning and management accounts cannot, and or will not as it is not good biz to show your potential competitors your biz plans. Also that the qualification itself ACCA or ACA is valued, unlike GCSEs which have a 92% pass rate, the pass rate for ACCA exams in the easier papers is less than 30%. With one paper which has an 92% fail rate). Which plays into the shortage vs numbers. My own personal experience is that wages have been static for years and years, often actually falling in real terms (inflation), and there are so many who jumped on the bandwagon that there isn't really much of a future for accountancy. We may be hit by a IT bubble event though, in that 100000s of people after the tech bubble burst were unemployed, many moved into other areas, meaning the supply of IT professionals dried up and the wages started to increase. But the levels today in IT are far below they were at the height of the IT boom. Of course this is just my opinion and you can take it or leave it.
Answer 2 :
Regarding the future of the profession, I can't speak for practice, but in industry I'd say it's in good health. Finance information is necessary for informed business decision-making. This is only likely to increase in future, as IT plays an ever-bigger role. I'd say the trend will be for more accountants to interpret the data that IT provides, and fewer clerks as IT systems streamline the transactional side. The real question here is your own future, though. However well or badly the profession does, an ACA from a Big 4 firm will always do well. An accounting degree does not help you in terms of developing an accounting career in the UK. The most it will get you is a handful of exemptions from a professional body. With an accounting degree, if you apply to the Big 4 graduate schemes, and they reject you, you'll end up working your way down the ladder to smaller and smaller practices until you find someone who will take you. If you don't get in at a top 10 firm, this will provide a very poor launchpad for your career, and you will struggle to move out of relatively poorly-paying practice jobs when you qualify. If, on the other hand, you do another numerate discipline, you lose very little for your accounting career, but you give yourself other options. Then later on, if you don't get in with a big firm (or large corporate CIMA scheme) it's not the end of the world.
Read more other entries :
Seeing as there are more accountants for each individual than in the whole of europe, are accounting degrees and accounting qualifications useless ? Is a finance career still a good option? The law of demand stated anything which is needed and very easily available will have a value which is cheap... is the future for the accounting Professional ?What do you think?
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You are correct, my last ACCA exam was at Manchester United there were so many people sitting exams over 3000 of them this was just Manchester there are many cities with similar numbers. Though cornwall ACCA exams were funny it was just me and another bloke in an exam room in the middle of a field. Thus by the laws of supply and demand you are correct wages are suppressed. However this is only part of the story, in that you are not only competing against your fellow British people like me, you are Competition against millions in India and China who due to purchasing power disparity will work for much less. The £3 they work an hour for is nothing here but it is good money over there. The main raw material out accountancy practice is data and in the age of the internet this unlike say steel can be moved around incredibly easily. There is also pressure via software I said in another answer Accountancy is dying, outsourcing where Chindians will work for £1-3 an hour who are more qualified than FCCAs is one thing which is destroying the industry. My old place had 27 or so staff they now have 12 or so everybody was pushed bar the interns who scan things in to send to India. Automation is also killing many roles, my personal tax experience was HIGHLY valued in 2005 by 2007 it had been integrated into software making me obselete so I moved to accounts, but then accounts software advanced quickly meaning clients could do most of the work themselves this got hit by outsourcing. So I moved into audit role which can be outsourced again. Ontop of all this bad news there are 10000s of unemployed accountants out there, including me (I do temp jobs and I work as an author these days), in JJB sports warehouse there were NINE FCAs who had been made redundant, these jobs are not coming back. HOWEVER there is ONE gambit, in that although practice accountancy is dying, industry accounting isn't there is an old saying a practice accountant counts wealth, an industry accountant attempts to generate it. Although common functions can be outsourced like payroll or basic book keeping. Business planning and management accounts cannot, and or will not as it is not good biz to show your potential competitors your biz plans. Also that the qualification itself ACCA or ACA is valued, unlike GCSEs which have a 92% pass rate, the pass rate for ACCA exams in the easier papers is less than 30%. With one paper which has an 92% fail rate). Which plays into the shortage vs numbers. My own personal experience is that wages have been static for years and years, often actually falling in real terms (inflation), and there are so many who jumped on the bandwagon that there isn't really much of a future for accountancy. We may be hit by a IT bubble event though, in that 100000s of people after the tech bubble burst were unemployed, many moved into other areas, meaning the supply of IT professionals dried up and the wages started to increase. But the levels today in IT are far below they were at the height of the IT boom. Of course this is just my opinion and you can take it or leave it.
Answer 2 :
Regarding the future of the profession, I can't speak for practice, but in industry I'd say it's in good health. Finance information is necessary for informed business decision-making. This is only likely to increase in future, as IT plays an ever-bigger role. I'd say the trend will be for more accountants to interpret the data that IT provides, and fewer clerks as IT systems streamline the transactional side. The real question here is your own future, though. However well or badly the profession does, an ACA from a Big 4 firm will always do well. An accounting degree does not help you in terms of developing an accounting career in the UK. The most it will get you is a handful of exemptions from a professional body. With an accounting degree, if you apply to the Big 4 graduate schemes, and they reject you, you'll end up working your way down the ladder to smaller and smaller practices until you find someone who will take you. If you don't get in at a top 10 firm, this will provide a very poor launchpad for your career, and you will struggle to move out of relatively poorly-paying practice jobs when you qualify. If, on the other hand, you do another numerate discipline, you lose very little for your accounting career, but you give yourself other options. Then later on, if you don't get in with a big firm (or large corporate CIMA scheme) it's not the end of the world.
Read more other entries :
Tuesday, August 28, 2012
Does anyone know where I can start a Bookkeeping or Accountants job whilst studying the subjects?
Does anyone know where I can start a Bookkeeping or Accountants job whilst studying the subjects?
I would like to change my job asap and would like to venture into either bookkeeping or accountancy. I have searched all over the web and on the job search sites and cant find anything at all suitable as they all want experienced people or people half way through the qualifications. I have not started yet and if I can find a job that doesn't desire these qualifications at the beginning I can go on a fast track course whilst working....
Small Business - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
In this economy, companies are only going to take the most qualified person that they can find. Since you have no education in the field and no experience, it will be next to impossible for you to land a job in this field.
Answer 2 :
check craiglist for jobs in accounts payable or accounts receivable- this is entry-level stuff. if you have to offer to work for free, anything to get your foot in the door. or, find a local, small CPA firm that will let you be an intern or ask if they have any clients looking for part-time bookkeeping help.
Answer 3 :
There is a place called the AAT http://www.aat.org.uk/, who offer apprentice based courses. Basically you have to find someone who is willing to take you on, you get paid but its basic minimum wage stuff and then you go to an AAT centre once a week and study to do the exams whilst your also learning as you work. It's hard to get someone to tkae you on but if you can it's worth it. Hard work but well worth it. Most employers will also pay for your exams so you could be earning and get a free qualifications whilst your there.
Read more other entries :
I would like to change my job asap and would like to venture into either bookkeeping or accountancy. I have searched all over the web and on the job search sites and cant find anything at all suitable as they all want experienced people or people half way through the qualifications. I have not started yet and if I can find a job that doesn't desire these qualifications at the beginning I can go on a fast track course whilst working....
Small Business - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
In this economy, companies are only going to take the most qualified person that they can find. Since you have no education in the field and no experience, it will be next to impossible for you to land a job in this field.
Answer 2 :
check craiglist for jobs in accounts payable or accounts receivable- this is entry-level stuff. if you have to offer to work for free, anything to get your foot in the door. or, find a local, small CPA firm that will let you be an intern or ask if they have any clients looking for part-time bookkeeping help.
Answer 3 :
There is a place called the AAT http://www.aat.org.uk/, who offer apprentice based courses. Basically you have to find someone who is willing to take you on, you get paid but its basic minimum wage stuff and then you go to an AAT centre once a week and study to do the exams whilst your also learning as you work. It's hard to get someone to tkae you on but if you can it's worth it. Hard work but well worth it. Most employers will also pay for your exams so you could be earning and get a free qualifications whilst your there.
Read more other entries :
Tuesday, August 14, 2012
How to best answer this question in an application form?
How to best answer this question in an application form?
Why do you want to study to be a professional accountant? and What qualities do you possess that will make you a successful professional accountant?
Other - Careers & Employment - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
These are both personal questions just be honest. You can't say what you think they want to hear because it will be untruthful. Just answer from your heart and talk up your attributes. Anything you are good at try and work it in. Applications are all about trying to spin things in your favor and make yourself look like an awesome candidate. Don't lie just say what you know is the truth and what you believe.
Read more other entries :
Why do you want to study to be a professional accountant? and What qualities do you possess that will make you a successful professional accountant?
Other - Careers & Employment - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
These are both personal questions just be honest. You can't say what you think they want to hear because it will be untruthful. Just answer from your heart and talk up your attributes. Anything you are good at try and work it in. Applications are all about trying to spin things in your favor and make yourself look like an awesome candidate. Don't lie just say what you know is the truth and what you believe.
Read more other entries :
Tuesday, August 7, 2012
What can I claim for when filling in tax return?
What can I claim for when filling in tax return?
Can somone please tell me.. If I earn £100 for example, and pay £20 to an accountant, does this mean that I can claim that £20 back from the taxman, and if so, doesn't this mean that it's worth everyone, no matter how much they earn (as long as it's in a taxable band) paying an accountant rather than doing it themselves? Also, does anyone have a list of what can be claimed back when self employed? Many thanks all!
United Kingdom - 7 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
My husband is a self employed builder and always claims back his petrol, mobile phone bills, and any money he spends out on tools, or if he needs a new van etc. I think you can claim for things that aid your work, so for example, if you are a hairdresser, you can claim back on a new pair of scissors because without these you would not be able to work.
Answer 2 :
you can claim for everything, ut uf they accept it that matters. Put it all though the books you might be lucky,
Answer 3 :
OK..we can't really work on a figure of £100.00 so let's say you took in £20.000 which puts you into the 22% tax bracket...you add up all the business expenditure and say that comes to £5.000 ..leaves £15.000 less personal allowance of £5000 =£10.000 that you have to pay tax on ..you will pay 10% on £2150 and 22% on £7850 also 8% on £15000 after allowance which is National Insurance so as you can see your business will pay tax on every single pound it makes profit after those deductions ...the accountants free was included in business expense.......you do not claim tax or NI you paid as an expense as that is personal .....if you claim something you are not entitled to claim then it will come back to haunt you along with interest for how many years you got it wrong....it makes no difference to the tax man if you take £100.00 or £40.000 wages ..your tax bill will be the same .......if your income is below £15.000 you would pay the lower tax ..above £32.000 the higher tax ......you can do your tax online by registering with the government gateway https://online.hmrc.gov.uk/login?timeout=true&GAURI=https://online.hmrc.gov.uk/home
Answer 4 :
Hey, it depends on whether the accountant was employed as part of your trade. i.e. it relates wholly and exclusively to the purposes of trade. Yes it does make sense filing in a tax return but a lot of the general public don't know/can't be bothered to do one, so lose tax savings. If you are self employed there are loads of things that you can get deducted against your income to reduce your tax bill, a great example is 40p per mile of all business miles done, up to a max of 10,000. Also general repairs to you premises. Another one is if you contribute to a pension scheme it is tax deductable, so e.g. you pay £78 into a pension scheme, the govt tops that up by putting in another £22, thus giving you tax relief of £22. I could go on and on, if you want more details feel free to email me. Otherwise I will go on fro about 3 pages!
Answer 5 :
The Revenue have an extensive web-site just for people like yourself. On this website if you follow the links will answer all your questions. Goto the link below. You can also telephone 0845 900 0444 for help with a tax return they are open 8.0am to 8.pm seven days a week.
Answer 6 :
I don't quite think that you have an understanding of the tax system in the UK. You don't 'claim' back money from HMRC. You only pay tax on your net profit which is your business income less your business expenses. If you pay an accountant to prepare a set of accountant for your business then this is an 'allowable deduction' against income. 'Allowable deductions' are expenses that are incurred wholly and exclusively for your business. If there is any private element to the expense, then it is not allowed - for example the cost of your lunch, fuel for travelling from your home to your place of business. Capital expenditure is not an allowable expense. Capital expense are those spent on things that you keep to use in your business to earn income. For example, cars, vans, computers, machinery, tables, desks, chairs etc. However there is an allowance available for certain types of capital expenditure. It would have been better to employ the services of an accountant when you have started up the business so that you maintained a high standard of records. A good bookkeeping system will keep down the cost of accounts preparation. The cost of preparing a tax return is not an allowable expense.
Answer 7 :
If one is self-employed, it is worth paying accountancy fees, as not to miss allowable expenses and not to claim for wrong items and be in trouble. Accountancy fee, for example, to do your tax return, is not "allowable". To do your tax return is considered "personal" expense. It may be a false economy not to employ a qualified accountant, who can do your accounts computing correct profit and give other tax planing etc advice.
Read more other entries :
Can somone please tell me.. If I earn £100 for example, and pay £20 to an accountant, does this mean that I can claim that £20 back from the taxman, and if so, doesn't this mean that it's worth everyone, no matter how much they earn (as long as it's in a taxable band) paying an accountant rather than doing it themselves? Also, does anyone have a list of what can be claimed back when self employed? Many thanks all!
United Kingdom - 7 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
My husband is a self employed builder and always claims back his petrol, mobile phone bills, and any money he spends out on tools, or if he needs a new van etc. I think you can claim for things that aid your work, so for example, if you are a hairdresser, you can claim back on a new pair of scissors because without these you would not be able to work.
Answer 2 :
you can claim for everything, ut uf they accept it that matters. Put it all though the books you might be lucky,
Answer 3 :
OK..we can't really work on a figure of £100.00 so let's say you took in £20.000 which puts you into the 22% tax bracket...you add up all the business expenditure and say that comes to £5.000 ..leaves £15.000 less personal allowance of £5000 =£10.000 that you have to pay tax on ..you will pay 10% on £2150 and 22% on £7850 also 8% on £15000 after allowance which is National Insurance so as you can see your business will pay tax on every single pound it makes profit after those deductions ...the accountants free was included in business expense.......you do not claim tax or NI you paid as an expense as that is personal .....if you claim something you are not entitled to claim then it will come back to haunt you along with interest for how many years you got it wrong....it makes no difference to the tax man if you take £100.00 or £40.000 wages ..your tax bill will be the same .......if your income is below £15.000 you would pay the lower tax ..above £32.000 the higher tax ......you can do your tax online by registering with the government gateway https://online.hmrc.gov.uk/login?timeout=true&GAURI=https://online.hmrc.gov.uk/home
Answer 4 :
Hey, it depends on whether the accountant was employed as part of your trade. i.e. it relates wholly and exclusively to the purposes of trade. Yes it does make sense filing in a tax return but a lot of the general public don't know/can't be bothered to do one, so lose tax savings. If you are self employed there are loads of things that you can get deducted against your income to reduce your tax bill, a great example is 40p per mile of all business miles done, up to a max of 10,000. Also general repairs to you premises. Another one is if you contribute to a pension scheme it is tax deductable, so e.g. you pay £78 into a pension scheme, the govt tops that up by putting in another £22, thus giving you tax relief of £22. I could go on and on, if you want more details feel free to email me. Otherwise I will go on fro about 3 pages!
Answer 5 :
The Revenue have an extensive web-site just for people like yourself. On this website if you follow the links will answer all your questions. Goto the link below. You can also telephone 0845 900 0444 for help with a tax return they are open 8.0am to 8.pm seven days a week.
Answer 6 :
I don't quite think that you have an understanding of the tax system in the UK. You don't 'claim' back money from HMRC. You only pay tax on your net profit which is your business income less your business expenses. If you pay an accountant to prepare a set of accountant for your business then this is an 'allowable deduction' against income. 'Allowable deductions' are expenses that are incurred wholly and exclusively for your business. If there is any private element to the expense, then it is not allowed - for example the cost of your lunch, fuel for travelling from your home to your place of business. Capital expenditure is not an allowable expense. Capital expense are those spent on things that you keep to use in your business to earn income. For example, cars, vans, computers, machinery, tables, desks, chairs etc. However there is an allowance available for certain types of capital expenditure. It would have been better to employ the services of an accountant when you have started up the business so that you maintained a high standard of records. A good bookkeeping system will keep down the cost of accounts preparation. The cost of preparing a tax return is not an allowable expense.
Answer 7 :
If one is self-employed, it is worth paying accountancy fees, as not to miss allowable expenses and not to claim for wrong items and be in trouble. Accountancy fee, for example, to do your tax return, is not "allowable". To do your tax return is considered "personal" expense. It may be a false economy not to employ a qualified accountant, who can do your accounts computing correct profit and give other tax planing etc advice.
Read more other entries :
Wednesday, August 1, 2012
Do you have to provide your tax return as evidence of self employment for a job?
Do you have to provide your tax return as evidence of self employment for a job?
I have a job offer. The company wishes to speak/ write to to my accountant. I don't want to send the company my tax return. Will a letter from an accountant stating turnover, profits etc suffice?
Law & Legal - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
ask your accountant, he deals w/ that everyday.
Answer 2 :
Yes that will be suficient enough. If they require more information take it from there, but they shouldnt do. I suppose they just want a reference and proof of how long you were trading for really and if you were your own boss you cant really give yourself a reference so a letter from your accountant is he next best thing. Good luck with the new job!!!!
Answer 3 :
Why are they asking this. It is none of their business what your turnover is. If they want to give you a job under your s/e basis, all they would need is references from people you have worked for, and maybe a letter from your Accountant just to say you are self employed. UK
Answer 4 :
This is quite a strange request, but is probably nothing more sinister than checking you really have been 'doing something' as opposed to either doing nothing or doing something untoward (eg in the nick!). Ask them exactly what they need to establish and why (phrase it 'so that I can be as helpful as possible').
Answer 5 :
Hi there, You should be able to prove that you are Self-employed without revealing your business' performance, such as turnover figures. As suggested, ask your accountant, or call the Self Employed Helpline (0191 225 4655, I think this number is still working), they might be able to offer you an advice. Good luck!
Read more other entries :
I have a job offer. The company wishes to speak/ write to to my accountant. I don't want to send the company my tax return. Will a letter from an accountant stating turnover, profits etc suffice?
Law & Legal - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
ask your accountant, he deals w/ that everyday.
Answer 2 :
Yes that will be suficient enough. If they require more information take it from there, but they shouldnt do. I suppose they just want a reference and proof of how long you were trading for really and if you were your own boss you cant really give yourself a reference so a letter from your accountant is he next best thing. Good luck with the new job!!!!
Answer 3 :
Why are they asking this. It is none of their business what your turnover is. If they want to give you a job under your s/e basis, all they would need is references from people you have worked for, and maybe a letter from your Accountant just to say you are self employed. UK
Answer 4 :
This is quite a strange request, but is probably nothing more sinister than checking you really have been 'doing something' as opposed to either doing nothing or doing something untoward (eg in the nick!). Ask them exactly what they need to establish and why (phrase it 'so that I can be as helpful as possible').
Answer 5 :
Hi there, You should be able to prove that you are Self-employed without revealing your business' performance, such as turnover figures. As suggested, ask your accountant, or call the Self Employed Helpline (0191 225 4655, I think this number is still working), they might be able to offer you an advice. Good luck!
Read more other entries :
Saturday, July 28, 2012
Is anyone out there an accountant or a tax man!?
Is anyone out there an accountant or a tax man!?
I have just started making costume jewellery as a hobby and was thinking of selling it on ebay and the like. As it is only a hobby do i still have to declare it to the tax man. By the time I have taken materials, petrol for getting materials and my time out of any selling price I dont think there will be anything left but I know the government are clamping down on ebayers and I dont want to get in trouble. Thanks
United Kingdom - 12 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Any profit i.e. total income - expenditure should be declared for tax purposes.
Answer 2 :
I'm not, but my friend, Nick Smith IS! You can contact him at nick1in@yahoo.com GOOD LUCK!!!!!
Answer 3 :
If you keep up with your expenses and sales and you show that you did not make a profit than you may get a tax break. the IRS by rule of thumb does not expect a business to make a profit until at least the third year in business. So unless you are making a large amount of money I wouldn't worry about reporting it. It is classified as a hobby. Go to irs.gov for more answers. hope this helps
Answer 4 :
YUP! You are suppose to declare ALL income. That includes the $20 bill you found on the sidewalk. You take your income and deduct your expenses. What's left is the net income that is declared.
Answer 5 :
I am the tax man Yes if you are self employed, you need to declare that, if this is your only source of income and it remains under the taxable limit after expenditure, you should be ok. My advice........Let the tax man know, by what you have said things will remain hunky dorey until your business takes off and you become a millionaire!!
Answer 6 :
Techically you should file a schedule C Business Income....you will be able to deduct all your expenses of gross receipts and if you have a bad year you can claim the loss thus reducing tax liability.
Answer 7 :
Ebay is a grey area where the taxman is concerned.. if you're selling odd bits here and there, i.e. your telly or your ipod that's fine and you don't have to declare it. however, if the Revenue believe that it's becoming a "trade" they'll start getting suspicious.. To be on the safe side, i would qdvise you to declare it, especially if you don't think you'll be making much by way of profits.. you probably won't have much, if any, tax to pay.
Answer 8 :
The bit is that your time is not a tax deduction and is actually your profit. So that is the basis of your taxable income. The difference between a hobby and trading is largely a matter of intention and the frequency of the transactions. So, if you are making the items with the intent of selling them at a profit and you are doing this on a regular basis, you are trading. It doesn't matter if you are selling on e-bay, from a market stall or from a shop.
Answer 9 :
I endorse what Jacsea says. The other thing to bear in mind is that if you are making a loss and have other income which is taxed, you can set the loss off against your other taxable income and receive a tax refund!
Answer 10 :
I'm glad I don't work for H&R Block. The difference between a hobby and a business (ignoring the "badges of trade") is that a hobby never makes a profit. If it does it's a business. Keep proper records, and if you make a profit, declare it to HMRC. Don't forget that if it's a business you MUST register with HMRC within 90 days to avoid a penalty.
Answer 11 :
You can register as a self-employed. As long as you do not make profits or make profits that are less then personal allowance (this year it was £5035) you will not pay any tax. The only payments you will make would be national ins contributions around £2.10/week (if you predict you will not make any profits you might not even pay this). Check here http://www.biuro.co.uk/index.php?p=fq&act=sh&id=45
Answer 12 :
Basically, if you are selling items on a regular basis for money then the Inland Revenue will deem that you are carry out a trade with the intention of making a profit. The fact that you do not think you will be making much in the way of net profit is neither here nor there. Any profit you make will be deemed to be trading profit and is liable to tax in the same way as if you had set up a stall in a market or were running your own jewellery shop. Be careful because the Inland Revenue are scrutinising ebay for those who are actually trading and if you do not declare your profits to HMC&E then this is tax evasion which is a serious crime. You have to realise that there is a distinction between those individuals who are making a one off sale and those who are selling regularly on ebay. For example, if I sell my car on ebay this will not fall under the definition of trading, however if I start selling several cars a week on ebay then the Inland Revenue will perceive me as being a car dealer and they will expect me to pay taxes on my profits.
Read more other entries :
I have just started making costume jewellery as a hobby and was thinking of selling it on ebay and the like. As it is only a hobby do i still have to declare it to the tax man. By the time I have taken materials, petrol for getting materials and my time out of any selling price I dont think there will be anything left but I know the government are clamping down on ebayers and I dont want to get in trouble. Thanks
United Kingdom - 12 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Any profit i.e. total income - expenditure should be declared for tax purposes.
Answer 2 :
I'm not, but my friend, Nick Smith IS! You can contact him at nick1in@yahoo.com GOOD LUCK!!!!!
Answer 3 :
If you keep up with your expenses and sales and you show that you did not make a profit than you may get a tax break. the IRS by rule of thumb does not expect a business to make a profit until at least the third year in business. So unless you are making a large amount of money I wouldn't worry about reporting it. It is classified as a hobby. Go to irs.gov for more answers. hope this helps
Answer 4 :
YUP! You are suppose to declare ALL income. That includes the $20 bill you found on the sidewalk. You take your income and deduct your expenses. What's left is the net income that is declared.
Answer 5 :
I am the tax man Yes if you are self employed, you need to declare that, if this is your only source of income and it remains under the taxable limit after expenditure, you should be ok. My advice........Let the tax man know, by what you have said things will remain hunky dorey until your business takes off and you become a millionaire!!
Answer 6 :
Techically you should file a schedule C Business Income....you will be able to deduct all your expenses of gross receipts and if you have a bad year you can claim the loss thus reducing tax liability.
Answer 7 :
Ebay is a grey area where the taxman is concerned.. if you're selling odd bits here and there, i.e. your telly or your ipod that's fine and you don't have to declare it. however, if the Revenue believe that it's becoming a "trade" they'll start getting suspicious.. To be on the safe side, i would qdvise you to declare it, especially if you don't think you'll be making much by way of profits.. you probably won't have much, if any, tax to pay.
Answer 8 :
The bit is that your time is not a tax deduction and is actually your profit. So that is the basis of your taxable income. The difference between a hobby and trading is largely a matter of intention and the frequency of the transactions. So, if you are making the items with the intent of selling them at a profit and you are doing this on a regular basis, you are trading. It doesn't matter if you are selling on e-bay, from a market stall or from a shop.
Answer 9 :
I endorse what Jacsea says. The other thing to bear in mind is that if you are making a loss and have other income which is taxed, you can set the loss off against your other taxable income and receive a tax refund!
Answer 10 :
I'm glad I don't work for H&R Block. The difference between a hobby and a business (ignoring the "badges of trade") is that a hobby never makes a profit. If it does it's a business. Keep proper records, and if you make a profit, declare it to HMRC. Don't forget that if it's a business you MUST register with HMRC within 90 days to avoid a penalty.
Answer 11 :
You can register as a self-employed. As long as you do not make profits or make profits that are less then personal allowance (this year it was £5035) you will not pay any tax. The only payments you will make would be national ins contributions around £2.10/week (if you predict you will not make any profits you might not even pay this). Check here http://www.biuro.co.uk/index.php?p=fq&act=sh&id=45
Answer 12 :
Basically, if you are selling items on a regular basis for money then the Inland Revenue will deem that you are carry out a trade with the intention of making a profit. The fact that you do not think you will be making much in the way of net profit is neither here nor there. Any profit you make will be deemed to be trading profit and is liable to tax in the same way as if you had set up a stall in a market or were running your own jewellery shop. Be careful because the Inland Revenue are scrutinising ebay for those who are actually trading and if you do not declare your profits to HMC&E then this is tax evasion which is a serious crime. You have to realise that there is a distinction between those individuals who are making a one off sale and those who are selling regularly on ebay. For example, if I sell my car on ebay this will not fall under the definition of trading, however if I start selling several cars a week on ebay then the Inland Revenue will perceive me as being a car dealer and they will expect me to pay taxes on my profits.
Read more other entries :
Saturday, July 14, 2012
Anybody know of any companies in London that offer Apprenticeships in Accountancy?
Anybody know of any companies in London that offer Apprenticeships in Accountancy?
I have A-levels in Accounting & IT, I am 24... I am looking for a place in London where I can work my way up as an accountant as they pay to get me qualified to eventually earn more money within the company... Do you think it's possible to be on £30,000 per annum within 3 years?? What places do you recommend in London?
Financial Services - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
No I do not think as a trainee you would get 30k in 3 years, you would not be qualified, and still have little experience. I suggest you google Accountants in London and send off your CV.
Read more other entries :
I have A-levels in Accounting & IT, I am 24... I am looking for a place in London where I can work my way up as an accountant as they pay to get me qualified to eventually earn more money within the company... Do you think it's possible to be on £30,000 per annum within 3 years?? What places do you recommend in London?
Financial Services - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
No I do not think as a trainee you would get 30k in 3 years, you would not be qualified, and still have little experience. I suggest you google Accountants in London and send off your CV.
Read more other entries :
Saturday, July 7, 2012
How long does it take to be qualified as an ACA? How much do they usually earn while training in the UK?
How long does it take to be qualified as an ACA? How much do they usually earn while training in the UK?
Being a non-EU citizen, Is it possible to get a training contract to be a chartered accountant in the UK after having received an award from a non-UK university? Do companies such as PWC or KPMG recruit foreign graduates? One more thing, when undergoing training, how much do they normally pay?
Higher Education (University +) - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
2 years. If you can try and get sponsored.
Read more other entries :
Being a non-EU citizen, Is it possible to get a training contract to be a chartered accountant in the UK after having received an award from a non-UK university? Do companies such as PWC or KPMG recruit foreign graduates? One more thing, when undergoing training, how much do they normally pay?
Higher Education (University +) - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
2 years. If you can try and get sponsored.
Read more other entries :
Sunday, July 1, 2012
Which Account book is best for those in the building trade?
Which Account book is best for those in the building trade?
Hi, my partner is planning on going self-employed. He is planning on hiring an accountant, however I think he should attempt doing his own accounts. Could anyone suggest a good accounts book (he is in the building trade)? Thank you
Small Business - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
All Stationers have them. I used the Collins Cathedral Analysis book (red). They have all the seperate columns. I put income on one page and outgoings on the other. I did not use the computer as we used to have a lot of power cuts. He MUST use an accountant at some stage as they can save you a lot of money by claiming against the business for things you would have not thought of. Also he will need to have his yearly accounts audited to keep the tax man happy if ever he is investigated. Good Luck
Answer 2 :
The Collins Cathedral books are ideal, but Staples now do a paperback version that is far cheaper and just as good. Check how many columns you need before buying one - you will need at least 10 columns to cover: sub-contactors bank charges motor materials printing, stationery & advertising other purchases (eg services etc from other companies) wages (employees if you have them) your wages revenue & customs. Go for an Accountant, at least for the first year, or you will definitely loose out on the tax side of things. A good Accountant will show you exactly how to do the books, as well as explaining what you can allow against your tax. ie, did you know that there is an allowance for working from home? He will save you more than he costs.
Read more other entries :
Hi, my partner is planning on going self-employed. He is planning on hiring an accountant, however I think he should attempt doing his own accounts. Could anyone suggest a good accounts book (he is in the building trade)? Thank you
Small Business - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
All Stationers have them. I used the Collins Cathedral Analysis book (red). They have all the seperate columns. I put income on one page and outgoings on the other. I did not use the computer as we used to have a lot of power cuts. He MUST use an accountant at some stage as they can save you a lot of money by claiming against the business for things you would have not thought of. Also he will need to have his yearly accounts audited to keep the tax man happy if ever he is investigated. Good Luck
Answer 2 :
The Collins Cathedral books are ideal, but Staples now do a paperback version that is far cheaper and just as good. Check how many columns you need before buying one - you will need at least 10 columns to cover: sub-contactors bank charges motor materials printing, stationery & advertising other purchases (eg services etc from other companies) wages (employees if you have them) your wages revenue & customs. Go for an Accountant, at least for the first year, or you will definitely loose out on the tax side of things. A good Accountant will show you exactly how to do the books, as well as explaining what you can allow against your tax. ie, did you know that there is an allowance for working from home? He will save you more than he costs.
Read more other entries :
Thursday, June 28, 2012
What can I do with my Accounting degree?
What can I do with my Accounting degree?
Next year I will graduate with a degree in Accounting but I really do not like my course and was wondering what else I could get into? I really don't want to be an accountant or a banker. I usually score higher in my IT modules but do not know how I would go about pursuing that. Would just like some ideas about anything else I could do?? Im soo confused right now, any help appreciated!
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
do you live in Uk, i know the BA hons with accounting degree includes business administration etc. if thats the case you could go in to systems analysis. The Open University used to do a degree in systems processes, which could lead you into IT... programing, analyst work.... Best bet is to give your Uni's career advice department a call and they can advise you what options are available to you.
Answer 2 :
Do you want to do a job involving numbers? Or any job, as long it's not accounting? With your finance degree, you can work in a bank's MI section (Management Information) they deal with statistics, compiling financial data from various sources, and turning it into pretty pictures and spreadsheets (barcharts and piecharts). If you have only a year left, finish your accounting degree. It will look great on your CV, and it will open a lot of doors for you, even if you don't actually need to use it.
Read more other entries :
Next year I will graduate with a degree in Accounting but I really do not like my course and was wondering what else I could get into? I really don't want to be an accountant or a banker. I usually score higher in my IT modules but do not know how I would go about pursuing that. Would just like some ideas about anything else I could do?? Im soo confused right now, any help appreciated!
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
do you live in Uk, i know the BA hons with accounting degree includes business administration etc. if thats the case you could go in to systems analysis. The Open University used to do a degree in systems processes, which could lead you into IT... programing, analyst work.... Best bet is to give your Uni's career advice department a call and they can advise you what options are available to you.
Answer 2 :
Do you want to do a job involving numbers? Or any job, as long it's not accounting? With your finance degree, you can work in a bank's MI section (Management Information) they deal with statistics, compiling financial data from various sources, and turning it into pretty pictures and spreadsheets (barcharts and piecharts). If you have only a year left, finish your accounting degree. It will look great on your CV, and it will open a lot of doors for you, even if you don't actually need to use it.
Read more other entries :
Thursday, June 14, 2012
Where can a hard working family man with no bad credit get a private loan?
Where can a hard working family man with no bad credit get a private loan?
Hi I am a hard working professional, 24 years old. My wife and I are expexcting our first child on 11/07/2007. We currently have a mortgage but our lender and others are unable to lend much more than we already borrow. We want to move home to a nicer area for ourselves and the family we hope to have. My credit is not bad or good because I have never borrowed in my life and apart from the current mortgage, never will unless it is for a better home. Since working after leaving school I am now a part qualified accountant and despite not earning that much, I hope that when I progess my income will increase, thus increasing my repayment ability. This question is one of those that I hope soemone who has information about or is in a position to help me will recieve it. Before you say it. Yes, I am in a good career and do have more than most others in my position, but by God I have earned it. My beginnings were humble to say the least and my lifestyle affords no luxury.
Credit - 6 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
anybody should give you a loan if you havent got a bad credit history, try moneysupermarket.com , am afraid am in no position to lend you money sorry
Answer 2 :
please do not try to move your baby will be here soon and believe me you do not need more stress than that at the moment when you are fully qualified you will get a better morgage deal from your local bank there are loads out there all the baby needs is love not a new house good luck with your new baby you sound a perfect dad xx
Answer 3 :
I will attempt to answer this question the best I can. On first glance, it seems if you already have a mortgage, you should be able to get another one (assuming you have been making timely payments). Unless you are attempting to keep this home as a rental property - that presents a different situation. Ultimately, really think about how much you can afford to pay on a monthly basis. You may want to consider selling your current home and moving in with a relative for a couple of months while you search for a new home at "home" - then you may have a great down payment depending how much equity has accumulated in your current home. That way, you will not have the additional obligation of an extra mortgage. Make sure the next job you find is of the same or slightly higher pay to be sure you would qualify for a higher mortgage payment (since it will be in a nice area). Just do the ratios, and make sure they work for you and your family. That said, an alternative source of financing that I have heard about is www.prosper.com It is a website where private individuals lend money to others. I'm not sure if it could handle as much as a mortgage but I think it is worth looking into.
Answer 4 :
It's always possible to get loans - but the Interest rate you have to pay goes up in leaps & bounds. As an accountant you should be aware that over-extending yourself with high interst loans is the last thing you should do. Stick with the advise you get from your Mortagege lender = if they think you are right on the limit then they are likely to be right ... Instead of spending money you don't have, how about cutting back on your outgoings ? Start today by looking at you & your wifes Credit Card and Bank Satements - identify each & every item spent and ask yourself the question 'did we really really really need to spend that ?'
Answer 5 :
First off, try ZOPA - the world's first online money lending & borrowing exchange (similar to PROSPER.com, which is US only)....... http://www.zopa.com/ZopaWeb/affiliate/?referral=duck1979 Here's where I first learn't about it: http://www.fool.co.uk/news/comment/2006/c060406d.htm http://www.fool.co.uk/news/your-money/current-accounts/2006/10/24/better-than-banks-and-building-societies.aspx Failing that, check out The Motley Fool....... which should be everyone's first stop for personal financial matters: http://www.fool.co.uk/loans/compare-unsecured-loans.aspx
Answer 6 :
Hi, if you can confirm that your credit is good (check with a credit reference agency) then you will have many choices before you when you decide to approach a financial institution. It is not unusual for many people to ask there own bank first, but it might also be better to shop around as, you wil be no doubt aware, competition will work in your favour so seek the best rate and 'terms and conditions'. Firstly, I will suggest you try a financial advisor before committing yourself to a charismatic individual whom seeks your business, but, however, may not be offering you neither the best 'terms' or 'conditions'.
Answer 7 :
I have just read over your question twice and i am sorry to say it but you have confused me (ok yes i am blonde!). Are you simply wanting to know where you can get a larger mortgage from as your current lender will not offer you more than you have? or are you wanting a personal loan? Sorry if i have missed the point but in your title you say you want a private loan and then in your explanation you talk about wanting to move and that you wouldn't get credit unless it was for a better home. I will try and answer both for you just incase i have read it wrong:- Mortgage - Your best bet will be to go to an Independant financial advisor, these are not tied to any particular company and will search the whole market to try and find you the best deal around for you. Some companies will offer more times your wage than others - especially with your good credit history. Loan - You have a god credit history so basically the 'world is your oyster' when it comes to choosing a loan. Search on the internet (somewhere like money supermarket) for the best deal for you. I would say that 99% of lenders would lend to you so you can shop around for the lowest APR. I hope that this helps to answer your question and good luck with the baby x
Answer 8 :
i think that the below website will help you to find the right solution
Read more other entries :
Hi I am a hard working professional, 24 years old. My wife and I are expexcting our first child on 11/07/2007. We currently have a mortgage but our lender and others are unable to lend much more than we already borrow. We want to move home to a nicer area for ourselves and the family we hope to have. My credit is not bad or good because I have never borrowed in my life and apart from the current mortgage, never will unless it is for a better home. Since working after leaving school I am now a part qualified accountant and despite not earning that much, I hope that when I progess my income will increase, thus increasing my repayment ability. This question is one of those that I hope soemone who has information about or is in a position to help me will recieve it. Before you say it. Yes, I am in a good career and do have more than most others in my position, but by God I have earned it. My beginnings were humble to say the least and my lifestyle affords no luxury.
Credit - 6 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
anybody should give you a loan if you havent got a bad credit history, try moneysupermarket.com , am afraid am in no position to lend you money sorry
Answer 2 :
please do not try to move your baby will be here soon and believe me you do not need more stress than that at the moment when you are fully qualified you will get a better morgage deal from your local bank there are loads out there all the baby needs is love not a new house good luck with your new baby you sound a perfect dad xx
Answer 3 :
I will attempt to answer this question the best I can. On first glance, it seems if you already have a mortgage, you should be able to get another one (assuming you have been making timely payments). Unless you are attempting to keep this home as a rental property - that presents a different situation. Ultimately, really think about how much you can afford to pay on a monthly basis. You may want to consider selling your current home and moving in with a relative for a couple of months while you search for a new home at "home" - then you may have a great down payment depending how much equity has accumulated in your current home. That way, you will not have the additional obligation of an extra mortgage. Make sure the next job you find is of the same or slightly higher pay to be sure you would qualify for a higher mortgage payment (since it will be in a nice area). Just do the ratios, and make sure they work for you and your family. That said, an alternative source of financing that I have heard about is www.prosper.com It is a website where private individuals lend money to others. I'm not sure if it could handle as much as a mortgage but I think it is worth looking into.
Answer 4 :
It's always possible to get loans - but the Interest rate you have to pay goes up in leaps & bounds. As an accountant you should be aware that over-extending yourself with high interst loans is the last thing you should do. Stick with the advise you get from your Mortagege lender = if they think you are right on the limit then they are likely to be right ... Instead of spending money you don't have, how about cutting back on your outgoings ? Start today by looking at you & your wifes Credit Card and Bank Satements - identify each & every item spent and ask yourself the question 'did we really really really need to spend that ?'
Answer 5 :
First off, try ZOPA - the world's first online money lending & borrowing exchange (similar to PROSPER.com, which is US only)....... http://www.zopa.com/ZopaWeb/affiliate/?referral=duck1979 Here's where I first learn't about it: http://www.fool.co.uk/news/comment/2006/c060406d.htm http://www.fool.co.uk/news/your-money/current-accounts/2006/10/24/better-than-banks-and-building-societies.aspx Failing that, check out The Motley Fool....... which should be everyone's first stop for personal financial matters: http://www.fool.co.uk/loans/compare-unsecured-loans.aspx
Answer 6 :
Hi, if you can confirm that your credit is good (check with a credit reference agency) then you will have many choices before you when you decide to approach a financial institution. It is not unusual for many people to ask there own bank first, but it might also be better to shop around as, you wil be no doubt aware, competition will work in your favour so seek the best rate and 'terms and conditions'. Firstly, I will suggest you try a financial advisor before committing yourself to a charismatic individual whom seeks your business, but, however, may not be offering you neither the best 'terms' or 'conditions'.
Answer 7 :
I have just read over your question twice and i am sorry to say it but you have confused me (ok yes i am blonde!). Are you simply wanting to know where you can get a larger mortgage from as your current lender will not offer you more than you have? or are you wanting a personal loan? Sorry if i have missed the point but in your title you say you want a private loan and then in your explanation you talk about wanting to move and that you wouldn't get credit unless it was for a better home. I will try and answer both for you just incase i have read it wrong:- Mortgage - Your best bet will be to go to an Independant financial advisor, these are not tied to any particular company and will search the whole market to try and find you the best deal around for you. Some companies will offer more times your wage than others - especially with your good credit history. Loan - You have a god credit history so basically the 'world is your oyster' when it comes to choosing a loan. Search on the internet (somewhere like money supermarket) for the best deal for you. I would say that 99% of lenders would lend to you so you can shop around for the lowest APR. I hope that this helps to answer your question and good luck with the baby x
Answer 8 :
i think that the below website will help you to find the right solution
Read more other entries :
Thursday, June 7, 2012
how much would i charge small businesses to do their weekly bookkeeping?
how much would i charge small businesses to do their weekly bookkeeping?
i am just starting out as a bookkeeper/ accountant and i know quite a few owners of small businesses. while i complete my accountancy course i want experience in the field, but i cant afford to work for free. how much should i charge them for weekly bookkeeping? a couple of the businesses have agreed already and they are willing to pay.
Small Business - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
$10 - $13 per hour.
Answer 2 :
you can find it in tools on this website http://sitefinance2.notlong.com/9AATvMT
Answer 3 :
$400.00 a month
Answer 4 :
I agree with Ella on this one. There are ways to calculate your time and effort put into work and finding others in the same field to do X amount of jobs, taking X amount of time per job, charging X amount is more reasonable than just choosing a number out of a hat. I would also venture a guess that your instructor would have a formula for you to decide that figure as well for a first job. Don't price yourself out of the market, you will be gaining experience and enhancing your resume as well. Good luck and success in all you do.
Answer 5 :
When trying to determine the rate to charge in any business there are usually a number of things you need to consider. I agree with Ella that you need to find out the standard rate but you also need to consider that you don't yet have real life practical experience and you need to take into account that the people you will be working for may need to help you learn these real life skills initially. So I would suggest: 1. Use Ella's link to find out a standard rate 2. Talk to the businesses about what they are willing to pay 3. Suggest to them that you would do it at a reduced rate initially but look to review the rate at a later and specified date Hope this helps :-)
Read more other entries :
i am just starting out as a bookkeeper/ accountant and i know quite a few owners of small businesses. while i complete my accountancy course i want experience in the field, but i cant afford to work for free. how much should i charge them for weekly bookkeeping? a couple of the businesses have agreed already and they are willing to pay.
Small Business - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
$10 - $13 per hour.
Answer 2 :
you can find it in tools on this website http://sitefinance2.notlong.com/9AATvMT
Answer 3 :
$400.00 a month
Answer 4 :
I agree with Ella on this one. There are ways to calculate your time and effort put into work and finding others in the same field to do X amount of jobs, taking X amount of time per job, charging X amount is more reasonable than just choosing a number out of a hat. I would also venture a guess that your instructor would have a formula for you to decide that figure as well for a first job. Don't price yourself out of the market, you will be gaining experience and enhancing your resume as well. Good luck and success in all you do.
Answer 5 :
When trying to determine the rate to charge in any business there are usually a number of things you need to consider. I agree with Ella that you need to find out the standard rate but you also need to consider that you don't yet have real life practical experience and you need to take into account that the people you will be working for may need to help you learn these real life skills initially. So I would suggest: 1. Use Ella's link to find out a standard rate 2. Talk to the businesses about what they are willing to pay 3. Suggest to them that you would do it at a reduced rate initially but look to review the rate at a later and specified date Hope this helps :-)
Read more other entries :
Friday, June 1, 2012
Is it employee responsibility to issue an invoices to the employee?
Is it employee responsibility to issue an invoices to the employee?
As an employee I was issuing invoices to my employer (under his instructions) and he was always checking them before sending to the accountant. There was a misunderstanding and miscalculation from both of us and the company overpaid me. Who is responsible for overpayment?
Law & Ethics - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
A Manager is a Manager, therefore he is accountable for his Employee's!
Answer 2 :
wellif you sent the invoice, it is standard practice that you raise a credit note for your error. as you said, it was a misunderstandng between the two of you .. therefore you are both responsible for the error strange way to do payroll .. strange
Answer 3 :
I think it is both you and your employer that are responsible. However, since you both know the over-payment was in error, return the overage to the company and it should be no big deal. Everybody makes mistakes.
Answer 4 :
Well, You made a mistake and your employer did not catch that mistake as his responsibility is to check the invoice. But it is the responsibility of that company as well to whom you were invoicing , they should check that what they were paying is the amount they agreed to pay.Just inform them about the overpayment and everything will be fine.
Read more other entries :
As an employee I was issuing invoices to my employer (under his instructions) and he was always checking them before sending to the accountant. There was a misunderstanding and miscalculation from both of us and the company overpaid me. Who is responsible for overpayment?
Law & Ethics - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
A Manager is a Manager, therefore he is accountable for his Employee's!
Answer 2 :
wellif you sent the invoice, it is standard practice that you raise a credit note for your error. as you said, it was a misunderstandng between the two of you .. therefore you are both responsible for the error strange way to do payroll .. strange
Answer 3 :
I think it is both you and your employer that are responsible. However, since you both know the over-payment was in error, return the overage to the company and it should be no big deal. Everybody makes mistakes.
Answer 4 :
Well, You made a mistake and your employer did not catch that mistake as his responsibility is to check the invoice. But it is the responsibility of that company as well to whom you were invoicing , they should check that what they were paying is the amount they agreed to pay.Just inform them about the overpayment and everything will be fine.
Read more other entries :
Monday, May 28, 2012
Is it easy to get work on a cruise ship with your partner?
Is it easy to get work on a cruise ship with your partner?
Me and my fiance are planning to try and work on cruise ships next year after i have qualified as a beauty therapist and he has qualified as an accountant. He doesnt really mind what job he does and obviously i would like to do beauty, but will we find it easy to get on the cruise ship together.
Cruise Travel - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Many people find it difficult to find even one job on a cruise ship. BUT, with several cruise lines launching new and bigger ships in the next few years you stand a good chance. Disney two new 4,000-passenger cruise ships currently under construction begin sailing from Port Canaveral in 2011 and 2012. Royal Caribbean will launch its new mega ship (the biggest of all cruise ships) Oasis of the Seas this December and then follow that with a twin sister ship, Allure of the Seas, in 2010. These provide great opportunities. Royal Caribbean has a great web site for providing employment information. Check this web link: http://www.royalcaribbeanproductions.com/ Try this RC web site also: https://jobs.rccl.com/jobs/rccl_jobs.nsf Many positions on cruise ships are filled through a "hiring partner". This one will refer you to ships' looking for beauty therapist: http://www.hardingbros.co.uk/ Costa Cruise line, which is a part of the Carnival Cruise line Corporation, will also have new ships launched this year. You may want to check their web site. http://www.costacruise.com/B2C/USA/Default.htm This is a link to jobs with them: http://www.costacruise.com/B2C/USA/Corporate/human/Human+Resources.htm Good luck in your search!!
Read more other entries :
Me and my fiance are planning to try and work on cruise ships next year after i have qualified as a beauty therapist and he has qualified as an accountant. He doesnt really mind what job he does and obviously i would like to do beauty, but will we find it easy to get on the cruise ship together.
Cruise Travel - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Many people find it difficult to find even one job on a cruise ship. BUT, with several cruise lines launching new and bigger ships in the next few years you stand a good chance. Disney two new 4,000-passenger cruise ships currently under construction begin sailing from Port Canaveral in 2011 and 2012. Royal Caribbean will launch its new mega ship (the biggest of all cruise ships) Oasis of the Seas this December and then follow that with a twin sister ship, Allure of the Seas, in 2010. These provide great opportunities. Royal Caribbean has a great web site for providing employment information. Check this web link: http://www.royalcaribbeanproductions.com/ Try this RC web site also: https://jobs.rccl.com/jobs/rccl_jobs.nsf Many positions on cruise ships are filled through a "hiring partner". This one will refer you to ships' looking for beauty therapist: http://www.hardingbros.co.uk/ Costa Cruise line, which is a part of the Carnival Cruise line Corporation, will also have new ships launched this year. You may want to check their web site. http://www.costacruise.com/B2C/USA/Default.htm This is a link to jobs with them: http://www.costacruise.com/B2C/USA/Corporate/human/Human+Resources.htm Good luck in your search!!
Read more other entries :
Monday, May 14, 2012
Is a very small accountant a midget who fidgets with digits?
Is a very small accountant a midget who fidgets with digits?
Other - Society & Culture - 10 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
er..yes deffinatley
Answer 2 :
Yeap...how'd u know? hehe
Answer 3 :
Yes.
Answer 4 :
Ya! I vood think so!
Answer 5 :
I think they like to be called little people..or vertically challenged..I like the fidget w/diget part...but now you remind me of tax time..bummer.
Answer 6 :
obviously!!
Answer 7 :
I'm not sure, but I do know, that when accountants have constapation they work it out with a pencil.
Answer 8 :
Very Funny… Are You Bored? Mee Too I Was Trying To Think Of Another I Can’t, I Have a really Bad Joke About Accountants , You May Have Heard It, But Here Goes. What Does A Constipated Account Do????? He Works It Out With A Pencil…lol Told You It Was Bad.
Answer 9 :
I know that was a corny joke, but it was cute, and i couldn't help but smile when i saw the title. Plus, i love corny. lol Very cute.
Answer 10 :
A very small accountant Is a calculating little lady or bloke, Knows when to look for work, The first to discover the boss is going broke --That Cheeky Lad "Takes a bow"
Read more other entries :
Other - Society & Culture - 10 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
er..yes deffinatley
Answer 2 :
Yeap...how'd u know? hehe
Answer 3 :
Yes.
Answer 4 :
Ya! I vood think so!
Answer 5 :
I think they like to be called little people..or vertically challenged..I like the fidget w/diget part...but now you remind me of tax time..bummer.
Answer 6 :
obviously!!
Answer 7 :
I'm not sure, but I do know, that when accountants have constapation they work it out with a pencil.
Answer 8 :
Very Funny… Are You Bored? Mee Too I Was Trying To Think Of Another I Can’t, I Have a really Bad Joke About Accountants , You May Have Heard It, But Here Goes. What Does A Constipated Account Do????? He Works It Out With A Pencil…lol Told You It Was Bad.
Answer 9 :
I know that was a corny joke, but it was cute, and i couldn't help but smile when i saw the title. Plus, i love corny. lol Very cute.
Answer 10 :
A very small accountant Is a calculating little lady or bloke, Knows when to look for work, The first to discover the boss is going broke --That Cheeky Lad "Takes a bow"
Read more other entries :
Monday, May 7, 2012
How hard is it to file your own Employer Annual Return?
How hard is it to file your own Employer Annual Return?
I run a limited company with just 2 employees - me and my partner - and can no longer afford to pay our accountant, How hard would it be for me to file the Annual Return myself, and what information would I need to do it? UK residents only please - our HMRC is different from the IRS!
United Kingdom - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Absolute doddle! Register for HMRC's free Basic PAYE tools, which you just download: http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1086857322 That should give you all the help you need - and you certainly don't need an accountant to do your monthly pay/Employer Annual Return once you've got this.
Read more other entries :
I run a limited company with just 2 employees - me and my partner - and can no longer afford to pay our accountant, How hard would it be for me to file the Annual Return myself, and what information would I need to do it? UK residents only please - our HMRC is different from the IRS!
United Kingdom - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Absolute doddle! Register for HMRC's free Basic PAYE tools, which you just download: http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1086857322 That should give you all the help you need - and you certainly don't need an accountant to do your monthly pay/Employer Annual Return once you've got this.
Read more other entries :
Tuesday, May 1, 2012
What are the benefits of doing temporary work in your?
What are the benefits of doing temporary work in your?
What are the benefits of doing temporary work in your chosen vocation. I mean i am studying accounting at university and finish at Christmas 2007 and have done 2 jobs previously related to my studies and start a new one on Monday. In September, i already have a job lined up as a computer technician at the University. I want to be a chartered accountant. What are the benefits of me doing temp/ part time jobs in my chosen field? will it make me more employable?
Technology - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Yup. Most people coming out of uni cant get a job because they have no experience & quite often a degree means very little to an employer. Having a degree & a bit of experience in the field will make you a billion times more employable. The work experience shows that you can put what you have learnt into practice & work in a professional team which really valuable. Most graduates struugle & get told that they are 'overqualified'. This means that the employer expects them to demand a higher starting pay or will expect early pay rises purely due to their qualifications & the employer really has no idea if they can ACTUALLY do the job. Keep it up - it will be well worth it in the long run. Good luck.
Answer 2 :
Definitely a benefit, even if not directly related to the profession or career you have in mind. Most new graduates are basically unemployable because they know a lot about a very narrow area of learning whereas work is mostly about versatility, taking risks, learning new skills, watching the horizon not your own footwork. Employment of any kind will help you come to terms with some of those requirements and show a prospective employer that you've got out of the classroom to improve yourself. If you're asked why you did it, be careful to have an answer that isn't just about money, but includes experience aspects, broadening your knowledge, working with other people and so on. Part time employment in finance could be ideal for you but may be difficult to find - I don't know. Even so, work in IT could be a useful addition to your CV especially if it includes financial applications and procedures. Generally, PT employment experience will be good for you and can't harm you so long as you can manage the time schedule.
Read more other entries :
What are the benefits of doing temporary work in your chosen vocation. I mean i am studying accounting at university and finish at Christmas 2007 and have done 2 jobs previously related to my studies and start a new one on Monday. In September, i already have a job lined up as a computer technician at the University. I want to be a chartered accountant. What are the benefits of me doing temp/ part time jobs in my chosen field? will it make me more employable?
Technology - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Yup. Most people coming out of uni cant get a job because they have no experience & quite often a degree means very little to an employer. Having a degree & a bit of experience in the field will make you a billion times more employable. The work experience shows that you can put what you have learnt into practice & work in a professional team which really valuable. Most graduates struugle & get told that they are 'overqualified'. This means that the employer expects them to demand a higher starting pay or will expect early pay rises purely due to their qualifications & the employer really has no idea if they can ACTUALLY do the job. Keep it up - it will be well worth it in the long run. Good luck.
Answer 2 :
Definitely a benefit, even if not directly related to the profession or career you have in mind. Most new graduates are basically unemployable because they know a lot about a very narrow area of learning whereas work is mostly about versatility, taking risks, learning new skills, watching the horizon not your own footwork. Employment of any kind will help you come to terms with some of those requirements and show a prospective employer that you've got out of the classroom to improve yourself. If you're asked why you did it, be careful to have an answer that isn't just about money, but includes experience aspects, broadening your knowledge, working with other people and so on. Part time employment in finance could be ideal for you but may be difficult to find - I don't know. Even so, work in IT could be a useful addition to your CV especially if it includes financial applications and procedures. Generally, PT employment experience will be good for you and can't harm you so long as you can manage the time schedule.
Read more other entries :
Saturday, April 28, 2012
In which business expenses category should I enter the expenditure on prostitutes?
In which business expenses category should I enter the expenditure on prostitutes?
I am preparing my books to send to the accountant. Unfortunately, I have a number of entries for the use of women of ill repute which were categorised as entertainment, but in actual fact we use entertainment only for client entertainment. Could anyone suggest which expenses category they should be entered in?
Other - Business & Finance - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Drawings, its a taxable benefit deemed as personal expenditure. Why don'y you call HMRC and confirm the treatment! Lol!
Answer 2 :
It is usually called "personal services"
Answer 3 :
You have a section called EQUITY ADD this category: "Screwing IRS" That should work nicely for you
Read more other entries :
I am preparing my books to send to the accountant. Unfortunately, I have a number of entries for the use of women of ill repute which were categorised as entertainment, but in actual fact we use entertainment only for client entertainment. Could anyone suggest which expenses category they should be entered in?
Other - Business & Finance - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Drawings, its a taxable benefit deemed as personal expenditure. Why don'y you call HMRC and confirm the treatment! Lol!
Answer 2 :
It is usually called "personal services"
Answer 3 :
You have a section called EQUITY ADD this category: "Screwing IRS" That should work nicely for you
Read more other entries :
Saturday, April 14, 2012
Is it easy to get work on a cruise ship with your partner?
Is it easy to get work on a cruise ship with your partner?
Me and my fiance are planning to try and work on cruise ships next year after i have qualified as a beauty therapist and he has qualified as an accountant. He doesnt really mind what job he does and obviously i would like to do beauty, but will we find it easy to get on the cruise ship together.
Cruise Travel - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Probably not. You could both apply for a job with the same Cruise Line and still be put on different ships.
Answer 2 :
probably if you dont say you are together
Answer 3 :
They usually do their best to put couples together
Answer 4 :
If they need both of you, there should be problem -
Read more other entries :
Me and my fiance are planning to try and work on cruise ships next year after i have qualified as a beauty therapist and he has qualified as an accountant. He doesnt really mind what job he does and obviously i would like to do beauty, but will we find it easy to get on the cruise ship together.
Cruise Travel - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Probably not. You could both apply for a job with the same Cruise Line and still be put on different ships.
Answer 2 :
probably if you dont say you are together
Answer 3 :
They usually do their best to put couples together
Answer 4 :
If they need both of you, there should be problem -
Read more other entries :
Saturday, April 7, 2012
Who was Michael Jacksons Accountant?
Who was Michael Jacksons Accountant?
i am doing a business project on michael jackson and am missing quite a bit of information if anybody could help?? it is for college
Celebrities - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Bill Zysblat, founder of RZO Productions, who handles business and management affairs for rock icons U2, David Bowie, The Police, the Rolling Stones, Sting, Shakira, amongst 30 other top entertainment names, was appointed the accountant to Michael Jackson alongside top UK accountant Ivan Sopher, by Michael Jackson’s manager Arfaq. Both accountants worked closely with Arfaq to manage the personal and business affairs of Mr Jackson prior to him starting his London tour. Ivan Sopher continues to represent Arfaq. So in answer both Bill Zysblat and Ivan Sopher were Michael Jacksons Accountants. Good luck with your college project :)
Answer 2 :
u can ask me any thing Michael Joseph Jackson (August 29, 1958 – June 25, 2009) was an American recording artist, entertainer, and philanthropist. Referred to as the King of Pop, Jackson is recognized as the most successful entertainer of all time by Guinness World Records. His contribution to music, dance and fashion, along with a much-publicized personal life, made him a global figure in popular culture for over four decades. The eighth child of the Jackson family, he debuted on the professional music scene along with his brothers as a member of The Jackson 5 in the mid-1960s, and began his solo career in 1971. In the early 1980s, Jackson became a dominant figure in popular music. The music videos for his songs including "Beat It", "Billie Jean" and "Thriller", were credited with transforming the medium into an art form and a promotional tool, and the popularity of these videos helped to bring the relatively new television channel MTV to fame. Videos such as "Black or White" and "Scream" made him a staple on MTV in the 1990s. Through stage performances and music videos, Jackson popularized a number of dance techniques, such as the robot and the moonwalk. His distinctive musical sound and vocal style have influenced numerous hip hop, pop, contemporary R&B and rock artists. Jackson's 1982 album Thriller is the best-selling album of all time. His other records, including Off the Wall (1979), Bad (1987), Dangerous (1991) and HIStory (1995), also rank among the world's best-selling. Jackson is one of the few artists to have been inducted into the Rock and Roll Hall of Fame twice. He was also inducted into the Dance Hall of Fame as the first (and currently only) dancer from the world of pop and rock 'n' roll. Some of his other achievements include multiple Guinness World Records; 13 Grammy Awards (as well as the Grammy Legend Award and the Grammy Lifetime Achievement Award); 26 American Music Awards (more than any other artist, including the "Artist of the Century"); 13 number-one singles in the United States in his solo career (more than any other male artist in the Hot 100 era); and the estimated sale of over 800 million records worldwide. Jackson won hundreds of awards, which have made him the most-awarded recording artist in the history of music. He was also a notable humanitarian and philanthropist, donating and raising hundreds of millions of dollars for beneficial causes and supporting more than 39 charities. Aspects of Jackson's personal life, including his changing appearance, personal relationships and behavior, have generated controversy. In 1993, he was accused of child sexual abuse, but the case was settled out of court and no formal charges were brought. In 2005, he was tried and acquitted of further sexual abuse allegations and several other charges after the jury ruled him not guilty on all counts. While preparing for his concert series This Is It, Jackson died on June 25, 2009, after suffering from cardiac arrest. Before his death, Jackson had reportedly been administered drugs such as propofol and lorazepam. The Los Angeles County Coroner declared his death a homicide, and his personal physician pleaded not guilty to charges of involuntary manslaughter. Jackson's death triggered a global outpouring of grief, and as many as one billion people around the world reportedly watched his public memorial service on live television. In March 2010, Sony Music Entertainment signed a US$250 million deal with Jackson's estate to retain distribution rights to his recordings until 2017, and to release seven posthumous albums over the decade following his death.
Read more other entries :
i am doing a business project on michael jackson and am missing quite a bit of information if anybody could help?? it is for college
Celebrities - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Bill Zysblat, founder of RZO Productions, who handles business and management affairs for rock icons U2, David Bowie, The Police, the Rolling Stones, Sting, Shakira, amongst 30 other top entertainment names, was appointed the accountant to Michael Jackson alongside top UK accountant Ivan Sopher, by Michael Jackson’s manager Arfaq. Both accountants worked closely with Arfaq to manage the personal and business affairs of Mr Jackson prior to him starting his London tour. Ivan Sopher continues to represent Arfaq. So in answer both Bill Zysblat and Ivan Sopher were Michael Jacksons Accountants. Good luck with your college project :)
Answer 2 :
u can ask me any thing Michael Joseph Jackson (August 29, 1958 – June 25, 2009) was an American recording artist, entertainer, and philanthropist. Referred to as the King of Pop, Jackson is recognized as the most successful entertainer of all time by Guinness World Records. His contribution to music, dance and fashion, along with a much-publicized personal life, made him a global figure in popular culture for over four decades. The eighth child of the Jackson family, he debuted on the professional music scene along with his brothers as a member of The Jackson 5 in the mid-1960s, and began his solo career in 1971. In the early 1980s, Jackson became a dominant figure in popular music. The music videos for his songs including "Beat It", "Billie Jean" and "Thriller", were credited with transforming the medium into an art form and a promotional tool, and the popularity of these videos helped to bring the relatively new television channel MTV to fame. Videos such as "Black or White" and "Scream" made him a staple on MTV in the 1990s. Through stage performances and music videos, Jackson popularized a number of dance techniques, such as the robot and the moonwalk. His distinctive musical sound and vocal style have influenced numerous hip hop, pop, contemporary R&B and rock artists. Jackson's 1982 album Thriller is the best-selling album of all time. His other records, including Off the Wall (1979), Bad (1987), Dangerous (1991) and HIStory (1995), also rank among the world's best-selling. Jackson is one of the few artists to have been inducted into the Rock and Roll Hall of Fame twice. He was also inducted into the Dance Hall of Fame as the first (and currently only) dancer from the world of pop and rock 'n' roll. Some of his other achievements include multiple Guinness World Records; 13 Grammy Awards (as well as the Grammy Legend Award and the Grammy Lifetime Achievement Award); 26 American Music Awards (more than any other artist, including the "Artist of the Century"); 13 number-one singles in the United States in his solo career (more than any other male artist in the Hot 100 era); and the estimated sale of over 800 million records worldwide. Jackson won hundreds of awards, which have made him the most-awarded recording artist in the history of music. He was also a notable humanitarian and philanthropist, donating and raising hundreds of millions of dollars for beneficial causes and supporting more than 39 charities. Aspects of Jackson's personal life, including his changing appearance, personal relationships and behavior, have generated controversy. In 1993, he was accused of child sexual abuse, but the case was settled out of court and no formal charges were brought. In 2005, he was tried and acquitted of further sexual abuse allegations and several other charges after the jury ruled him not guilty on all counts. While preparing for his concert series This Is It, Jackson died on June 25, 2009, after suffering from cardiac arrest. Before his death, Jackson had reportedly been administered drugs such as propofol and lorazepam. The Los Angeles County Coroner declared his death a homicide, and his personal physician pleaded not guilty to charges of involuntary manslaughter. Jackson's death triggered a global outpouring of grief, and as many as one billion people around the world reportedly watched his public memorial service on live television. In March 2010, Sony Music Entertainment signed a US$250 million deal with Jackson's estate to retain distribution rights to his recordings until 2017, and to release seven posthumous albums over the decade following his death.
Read more other entries :
Subscribe to:
Comments (Atom)