Why Firms Need to Practice Corporate Social Responsibility

Introduction The word company comes from two Latin words, the first being ‘com’, which means ‘together’, and ‘panis’ meaning ‘bread’ (Company | Etymology of Company by Etymonline, n.d.). The formation of a company involves people coming together with a focus on earning a profit. For companies to be productive, they require resources. These resources come… Continue reading Why Firms Need to Practice Corporate Social Responsibility

BUDGETING FOR SMALL BUSINESSES

Budget is an important aspect of the financial management of small businesses. This includes formulating a detailed plan to explain how the company distributes resources over a period of time (typically one year). By setting budgets, small businesses can better control their own finances, make smart decisions about investments and spending, and increase opportunities to… Continue reading BUDGETING FOR SMALL BUSINESSES

Accounting and the Construction Industry Scheme (CIS)

(Please, take note that we will not be liable for the content of this article as the reader has the obligation to check and verify this information) People are turning to the construction industry to make a living, maybe leaving behind their previous employment and there may be other reasons for this like: It is… Continue reading Accounting and the Construction Industry Scheme (CIS)

Limited Liability Partnership, Is It the Right Direction?

Limited Liability Partnership (LLP) can be a good option for those who would like to continue paying taxes and practice similarly as a partnership but enjoy the benefits of a limited company. Some of these benefits are… -Getting limited liability to the assets owned by the LLP and therefore safeguard liability on personal assets. This… Continue reading Limited Liability Partnership, Is It the Right Direction?

Reduce Accountancy Fee and Increase Returns for your Business

Many small businesses have difficulties in managing their books. It is usually a fact that can be linked to their particular background formation, having difficulties to do bookkeeping, being too busy in the trade answering to the clients’ requests, etc. The reality is that keeping track of both income and expenses is the core to… Continue reading Reduce Accountancy Fee and Increase Returns for your Business