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.
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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.
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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.
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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.
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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.
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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.
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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 :
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