When an external accountant puts together financial statements for a company using information that the business has provided them with, this is known as a ‘compilation engagement.’ The accountant doesn’t, however, verify or validate any of the information they have...
For the owners of small businesses all over the world, taxes and accounting form part of their financial obligations, but for those trying to manage things singlehandedly, these can become overwhelming. However, while they are an obligation, they also present a range...
Taxes can hit small business owners hard, and have a dramatic impact on their bottom line. However, there are some steps you can take as a small business owner, to reduce your tax bill, and hang onto more of what you’ve earned. Working with a corporate tax accountant...
Unless you’re a tax professional as well as a small business owner or self-employed person, it’s unlikely that you’ll know enough about tax-saving strategies to be able to put any of them into practice, to potentially reduce your tax bill. The reality is though, that...
Providing a snapshot on any given day of a business’s financial picture, an accounting statement known as a balance sheet – or statement of financial position – lists all a company’s assets, from long-term ones like goodwill, buildings, plant and...
