As a business owner, you constantly have questions: Do I have enough cash to make payroll next week? Can we afford to replace that old delivery truck this year? While a basic snapshot of your finances is good, it can’t always give you a quick answer. That’s where the classified balance sheet comes in. It’s […]
What is a Classified Balance Sheet? A Complete Overview Read More »
There are many business startup grants for unemployed people in the UK for setting up a small business. When you plan to start a business, your biggest concern is finance. There are various schemes out there, each has its bars to apply. Small business grants are one of the most preferable sources to finance the
What is a Business Grant – A Basic Guide Read More »
If you need an expert advisor on financial and investment advice, estate planning matters or retirement planning, you need to get help from a financial advisor who has achieved the status of Chartered Financial Planner. There are only 700 chartered financial advisors or planners in the UK. In today’s post, we’ll have a look at
Why Choose a Chartered Financial Planner? Read More »
Wondering what is a creditor, and what is a debtor? You may have come across these terms a lot of times, but understanding them is not as simple as it seems. More importantly, the role of a debtor or a creditor in a business is of vital importance. If you operate a business (no matter
What is a Creditor and What is a Debtor? Read More »
Before making an investment, you need to look at the returns you’re likely to make on it. Will you get a profitable sum against your investment? To find out, you need to know: what is the return on investment (ROI), how to calculate ROI, how it works and what is a good ROI? Read on
What Is Return on Investment or ROI? A Basic Guide Read More »
Considering buying a car through a limited company? At first, it may seem an appealing idea for saving a great amount of tax, however, there are many complications and business tax implications that you need to be aware of. Buying a car through a business would only be beneficial to you as per your circumstance.
Things to Consider when Buying a Car Through Limited Company Read More »
Wondering what is wealth management? In simple words, it is a branch of financial services that deals with the financial needs of affluent investors and high net worth individuals. Wealth managers perform a number of tasks ranging from investment advice, taxes, estate planning to anything else that relates to increasing the wealth of high net
What is Wealth Management and How Does it Work? Read More »
Whether you’re an accountant or not, you need to understand what is net profit and how to calculate net profit. Basic knowledge of these financial terms is necessary to manage your books and to use them in your everyday life. Calculating net profit is also imperative to determine the financial health of a business. As
What is Net-Profit and How to Calculate Net Profit? Read More »
A capital term in accounting is an asset that is carried on a company’s balance sheet and depreciated over a fixed time. Capital expense or capital expenditures or CAPEX is the amount of money that your company spends in order to generate profit. If you are looking for a significant source to know what is
What is Capital Expenditure – A Basic Guide! Read More »
Are you thinking of accepting cash in hand work as a payment option? If yes, then you might be wondering about the tax implications. First, you need to know that the exact implications are based on your personal situation ( whether you are self-employed, a student, or have employment). In this blog, you will know what is cash
Cash In Hand Work – How Tax Works On It? Read More »
You are required to keep your business accounts or pay any professional to do this in order to run your business effectively. It is a legal requirement to keep your accounts. But, keeping them well is essential for the growth of your business. Therefore, this blog will let you know how to keep your accounts
Simplest Ways to Keep your Accounts Organised! Read More »
If you are a small business, you can file micro-entity accounts to save your money and time. However, if you are looking for a significant source to know what is micro-entity accounts, your business qualifies as a micro-entity or not, and where to submit your prepared accounts, then you have just found the right source!
How to file Micro-Entity Accounts – A Small Guide! Read More »
The management of your accounts receivable (AR) is essential to operate your own business. Several businesses who sell out their goods and services on credit sales usually find their cash flow interrupted because of the overdue payments. As per research, one of the biggest reasons for cash flow issues within the United Kingdom is late payments. So,
What is Accounts Receivable & How Do They work! Read More »
Negative equity implies that the amount of your property is below the amount you possess on your mortgage. Even though negative equity is not an issue itself, it can become troublesome in case you are trying to sell your property or remortgage. Therefore, this blog will let you know what does negative equity mean and what
What Does Negative Equity Mean? A Basic Guide! Read More »
The term “equity” appears on the balance sheet of a company. However, this term is also commonly used in personal finance, accounting, and investing. This blog will explain what is equity, how it is defined, and why it is important for businesses and shareholders. So, let’s start to explore more about equity. We are a
What is Equity? A Basic Guide! Read More »
Businesses face numerous financial challenges in today’s rapidly changing global economy, where nothing is predictable. The Covid-19 pandemic has caused the downfall of the world’s major economies. Due to which several companies have faced insolvency, and some are still fighting to prevent it. So, in this blog, we will see what is insolvency, how to
What is Insolvency – A Basic Guide for Beginners! Read More »
In the United Kingdom, SMEs are essential to the economy. But, unfortunately, every year, many SMEs fail because of cash flow issues. Expenses are one of the most crucial parts of the cash flow equation. So, a business must learn how to manage expenses in order to pay the right amount of tax, save more
Selling, General and Administrative Expenses (SG&A) – A Basic Guide Read More »
If you’re a newly self-employed person looking to set up a business, then you may be concerned about the taxes. But first, you must be aware of a tax relief that is available for you. This tax relief is known as a trading income allowance. It has an impact on the tax amount, which you
Trading Income Allowance – A Small Guide for Beginners Read More »
In financial accounting, accounting data is collected to generate financial statements. On the other hand, the internal accounting procedure that is used to account for the company transactions is managerial accounting. This is the main distinction between financial accounting and managerial accounting. In this blog, we will have a brief overview of the differences between
What is the Difference Between Financial Accounting and Managerial Accounting? Read More »
In the United Kingdom, there are around 5.9 million small companies. One out of every three companies is experiencing cash flow issues. If you’re not used to it (new), managing your company’s cash flow might be a complicated process. Knowing your cost of sales is essential to track the movement of your cash flow in
What is Cost of Sales and How to Calculate it? Read More »
If you are looking for a significant source to know what an overdraft is, how overdraft works, its types and costs. Then you just have found the right post. We will try to cover all the basic knowledge about an overdraft in an understandable and easy language. So, Let’s start! We provide cost-effective accounting, taxation,
How Overdraft Works? Types, Limit, Cost Read More »
Want to know how much return you’re getting against your investment? To find out, you need to work out your profit margins. If you are a business owner, keeping track of your profit margins regularly will provide you with in-depth information about the most profitable areas of your business. With this information, you can focus
How to Calculate Gross Profit? Read More »
There are three important statutory accounts that are needed to analyse the financial health of your business. The profit and loss statement is one of them that provides a clear view of your income and expenses over a certain period of time. This statement points out the areas where your business is excelling. Along with
What is Profit and Loss Statement and Why is it Important? Read More »
Are you taking the maximum advantage out of your business assets? Is your turnover increasing against the investment of your business asset? You can get the answer by knowing what is asset turnover ratio. This may seem complex but it’s a simple process. So, here is all you need to know to work out the
What is the Asset Turnover Ratio? Formula, Importance… Read More »
Ever looked at a business and wondered if they are actually any good at what they do? Not just making sales but truly turning their resources into serious profit? That’s where Return on Capital Employed or ROCE, comes in. In this article we will talk about Return on Capital Employed (ROCE), how to calculate it,
Return on Capital Employed (ROCE): What It Is and How to Help Improve It Read More »
The UK government is converging its focus on residential property tax. Several changes have been made so far. The system got complicated after those changes. The rising real estate market in the UK has brought more overseas buyers to the market. Before making your considerations about the property purchase, you have to look into the
Property Taxes Overview and How They Work Read More »
