Going Concern

APRIL 7, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Build ChatGPT into Excel [ Journal of Accountancy ] Note that this process currently works in Microsoft Excel 365, Microsoft Excel 365 for Mac, and Excel for the web. I can imagine it.

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Menzies

MARCH 22, 2023

Menzies LLP - A leading chartered accountancy firm. By 2030, non-domestic minimum expected energy standards (MEES) will require all non-domestic private rented properties to have an EPC level of at least level B, with an EPC level C rating required by 2027, to meet the government’s criteria of achieving net zero by 2050.

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Menzies

JULY 21, 2022

Menzies LLP - A leading chartered accountancy firm. HMRC have issued a Business Brief setting out their updated policy for distinguishing between business and non-business activities. Charities are able to claim relief from VAT on construction costs if the building will be used for non-business purposes. VAT on income.

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Menzies

JANUARY 5, 2024

Menzies LLP - A leading chartered accountancy firm. Depending on the circumstances this may defer the tax relief available into the next accounting period. Grants It’s also worth checking whether any grants are available to fund the purchase of equipment. Grant Finder updates on a regular basis for other grants available.

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Menzies

MAY 30, 2022

Menzies LLP - A leading chartered accountancy firm. Based in Daventry, UK, and formed in 1989, Geotek specialises in designing and manufacturing high-resolution, non-destructive analysis of geological cores. Judges Scientific maintains a policy to selectively acquire businesses that generate sustainable profits and cash.

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Menzies

APRIL 13, 2023

Menzies LLP - A leading chartered accountancy firm. More and more we are seeing businesses choose to – or be required to – include non-financial measures when they report to stakeholders or market themselves to the outside world. Why deal with non-financial issues? What types of information are disclosed?

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Menzies

DECEMBER 7, 2023

Menzies LLP - A leading chartered accountancy firm. With the rise in use of various digital assets, including exchange tokens, NFTs (non-fungible tokens), and utility tokens, the landscape of financial transactions has evolved and it’s crucial to understand and comply with tax regulations to avoid potential issues down the line.

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Menzies

NOVEMBER 10, 2023

Menzies LLP - A leading chartered accountancy firm. As the cost of finance has become more expensive, businesses are faced with the choice of profits being squeezed (or even eradicated) or passing on the costs to customers. There are many challenges around the cost of living and the cost of doing business.

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Menzies

JANUARY 22, 2023

Menzies LLP - A leading chartered accountancy firm.  By optimising profits and minimising risk, they will be in a good position to attain a successful outcome when the time comes. For any business, managing an exit strategy efficiently can help to guarantee its profitability and success for plenty of years to come.

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Mark Lee

MARCH 5, 2024

Do you ever struggle to make a lasting impression beyond the generic label of being ‘just another accountant’? The 3 Rs) ARE ACCOUNTANTS BORING? Non-accountants may see bookkeeping, accounts, finance and tax returns as boring activities. ARE ACCOUNTANTS ALL THE SAME? We’ve all been there.

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Menzies

FEBRUARY 15, 2024

Menzies LLP - A leading chartered accountancy firm. One significant conclusion, however, was that the DEIB agenda could be promoted and developed without damaging profit. Asking about backgrounds and cultures in a non-judgmental way fosters inclusivity.

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Menzies

JUNE 30, 2023

Menzies LLP - A leading chartered accountancy firm. Smaller firms may not have the need for a full-time FD but here are some specific examples of how an FD can benefit any legal firm: An FD can help a legal firm to develop a sound financial strategy that will help the firm to reduce costs, increase revenue, and improve profitability.

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Menzies

NOVEMBER 18, 2022

Menzies LLP - A leading chartered accountancy firm. Normally if a cryptoasset, like a non-fungible token (NFT), is brought then sold the seller would be liable for capital gains tax on any profit made on the sale. However, does the new guidance cover enough ground? What Are HMRC’s 9 Badges Of Trade?

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Menzies

FEBRUARY 8, 2023

Menzies LLP - A leading chartered accountancy firm. The rules aim to prevent profits from the development being shifted out of the UK and bite in cases where the lender takes on a proportion of risk from the development, e.g. if the interest rate charged includes a risk premium element.

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Menzies

APRIL 25, 2023

Menzies LLP - A leading chartered accountancy firm. A number of factors will be in effect- for example, company taxes can differentiate from country to country, so the business needs to recognise the impact this could have on profitability. Are you now contemplating setting up business abroad?

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Menzies

FEBRUARY 12, 2024

Menzies LLP - A leading chartered accountancy firm. These agencies should be monitoring “gross profit” , which is very simply the margin being made on placements. Net profit” refers back to the main profit and loss account and how profitable the overall business is.

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Menzies

MARCH 17, 2023

Menzies LLP - A leading chartered accountancy firm. Having sight of reports such as management accounts and key performance indicators (KPIs), in terms of which products sell well, and more importantly which are the most profitable – can be really valuable.

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Menzies

NOVEMBER 30, 2022

Menzies LLP - A leading chartered accountancy firm. Even after a calm, non-reaction from the markets, business support organisations have given the Autumn Statement a wary welcome, with some companies and investors wishing there was greater incentives for growth. Costly Changes To Dividends And Capital Gains Tax.

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Menzies

SEPTEMBER 27, 2022

Menzies LLP - A leading chartered accountancy firm. Before starting a business, it is logical for entrepreneurial founders to predict a growth trajectory and set pricing levels that will return a healthy profit. However, insolvency does not necessarily mean that it is the end. How do early-stage businesses usually start?

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Menzies

JULY 25, 2023

Menzies LLP - A leading chartered accountancy firm. However, trends show that more restaurants are now applying policies to recoup lost revenues through either requesting non-refundable deposits upon booking or issuing late cancellation or no-show penalties. How punishing is your approach?

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Menzies

JULY 27, 2022

Menzies LLP - A leading chartered accountancy firm. Another issue to take into account when purchasing stock from abroad is to protect profit margins by hedging against exchange rate volatility.

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Menzies

AUGUST 17, 2023

Menzies LLP - A leading chartered accountancy firm. This issue can result in additional expenses such as wastage fees, storage costs, and depreciation, which can decrease profitability and strain cash flow. Technology is often used to help manufacturing businesses improve stock control and cash flow as a result.

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Menzies

FEBRUARY 21, 2023

Menzies LLP - A leading chartered accountancy firm. This is based on established common law principles and case law, but also includes important reforms which affect all directors – executive or non-executive – in every company, large or small. Please take some time to read through these notes – they are important.

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Menzies

APRIL 12, 2023

Menzies LLP - A leading chartered accountancy firm. However, maintaining a strong focus on cash management and credit control can also create opportunities for the business to increase revenues and boost profitability. Many businesses are making preparations for a big cash squeeze in 2023 due to several factors.

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Menzies

JUNE 5, 2022

Menzies LLP - A leading chartered accountancy firm. Non-Fungible Tokens (NFT). Income Tax: If you are a creator of an NFT, you will pay income tax on the profits received when you sell an NFT. But what does it all mean? And are there tax consequences you should be aware of? Income tax: No implications. Private Key.

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Menzies

NOVEMBER 2, 2023

Menzies LLP - A leading chartered accountancy firm. These are the critical factors that will drive footfall and profit generation. However, we often observe that businesses fail to maximise tax allowances which can result in a decrease in profits and cashflow. Challenge No.

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Going Concern

APRIL 28, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. The winners had to be accounting students at New Jersey colleges or universities who are currently in their junior year or in their senior year and entering an accounting-related graduate program.

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PANALITIX

JUNE 21, 2020

Building a successful accounting and advisory business doesn’t happen overnight. Mike Mekhitarian, founder of ATB Chartered Accountants and Business Mentors (ATB), shared some highlights of his action-packed journey in an interview with Panalitix founder Colin Dunn. Some Final Thoughts… and Advice for Accountants.

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Menzies

MARCH 1, 2023

Menzies LLP - A leading chartered accountancy firm. It is crucial to retain the best talent within the business to ensure quality day to day output, increasing profitability, whilst providing the opportunity for business succession. A separate scale rate can be agreed with HMRC to reimburse actual expenses.

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Going Concern

AUGUST 25, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. The accounting industry is in a state of transition. The influx of private equity, labor shortages, and remote/hybrid work have all impacted accounting firms to varying degrees.

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