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/
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Friday, September 28, 2012
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.
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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.
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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
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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
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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 :
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