As an accountant, you are constantly bombarded with tasks, responsibilities, and deadlines. It can be challenging to keep track of everything, let alone find the time to issue engagement letters to clients. However, engagement letters are an essential part of the accounting process and key to protecting yourself and your client. This blog will discuss … Read more
The accounting industry is growing rapidly, and with this growth comes an increased demand for qualified accountants. Unfortunately, the global skills shortage makes finding and retaining qualified workers difficult as accounting firms struggle to find the talent needed to maintain high standards. Many accounting firms offer a comprehensive suite of services, including bookkeeping, accounting, payroll, … Read more
Six common bookkeeping mistakes to avoid We highlight the most common mistakes made by SMEs that need to be avoided to ensure the success of their business. With the increase complexity of accounting, compliance and bookkeeping processes, business owners juggle to keep their business profitable. During these challenging times especially, it’s easy to understand where … Read more
A control account also referred to as a controlling account, is an account within the general ledger that summarises all the transactions of a specific type. A control account has a corresponding subsidiary ledger that contains all the detailed transactions relating to that account, which may be in the hundreds or thousands. The purpose of … Read more
Like most business owners, you are probably wearing many hats. You are probably busy managing your core business activities while juggling many other aspects such as marketing, sales, customer service and bookkeeping. With all the competing priorities that business owners face daily, it’s no wonder that bookkeeping often gets pushed to the side, but this … Read more
A CFO or Chief Financial Officer is in charge of the company’s financial health. They are responsible for overseeing all financial aspects of a company, such as budgeting, accounting, cash flow and financial reporting. They are also responsible for financial planning, reviewing and analysing business risks and advising on company strategy. Traditionally, CFOs have been … Read more
There have been some exciting developments in the accounting industry in recent times. Most notably, advances in technology are reforming accountants’ roles. Far from making accountants redundant, it is creating opportunities for accountants to add high-value insights, focusing on more strategic and advisory roles to aid in decision-making and improve the bottom line for business. … Read more
Do you have a budget for cyber security? “There are two types of companies: those that have been hacked, and those who don’t yet know they have been hacked.” Cisco’s former CEO- John Chambers Cyber security is protecting computers, networks systems, devices, and data from cyber-attacks. Cyber security is gaining attention as businesses increasingly rely … Read more
Top 5 tips to help you through the festive season If you own a small business, you’re probably aware that the Christmas and New Year period can be challenging and disruptive with juggling staff absences, cash flow and problems with suppliers due to shutdowns. Some industries will experience peak demand during this time, such as … Read more