Thursday, October 28, 2010

How much do chartered accountants earn in the UK, both for companies and self employed?

How much do chartered accountants earn in the UK, both for companies and self employed?
I am starting a degree in Accounting at uni in September. How much do you think i'll be earning once i am chartered.
Financial Services - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
A beginner starts around £45.000 then goes up very quickly depends on your ability.

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Thursday, October 14, 2010

which body is responsible for issue uk accounting stander (called financial report stander- FRS)?

which body is responsible for issue uk accounting stander (called financial report stander- FRS)?

Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
The Financial Reporting Council should be able to help you with FRS questions. You can visit their website at: http://www.frc.org.uk/

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Thursday, October 7, 2010

What companies in London are good for Accountancy recruitment?

What companies in London are good for Accountancy recruitment?
I am studying ACCA and have sat 7 papers. If I pass the next 2 I will be part qualified. I have been working in finance in a Media company for 18 months and I just need better accounting experience now.
Careers & Employment - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Try Hayes
Answer 2 :
I have seen a lot of accountancy vacancies via Reed.
Answer 3 :
Hays, Morgan McKinley, Goodman Masson, Michael page, Robert Walters, Huntress search, etc. All the best

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Friday, October 1, 2010

How does a sole trader account for assets they personally owned prior to the start of their business?

How does a sole trader account for assets they personally owned prior to the start of their business?
For example, I already own a perfectly good computer, but I'm guessing I need to account for it somewhere as an asset of the company. Would it show up as £0?
Small Business - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You need to get the terminology correct to start with. A "company" is a specific legal entity that has to be registered and comply with much statute and regulation. As a sole trader you are running a "business". A sole trader personally owns all the assets of his business. By accounting for assets I assume you mean offsetting their value against tax by claiming capital allowances? If so, if the asset was already owned then you can take its starting value as its value at the time you started using it for business purposes. EG if you bought the computer for £500 2 years ago, its reasonable value now might be £100, so its opening value would be £100 then you claim capital allowances in the normal way. With any assets, if they are partly used for non-business purposes then your capital allowance is reduced by the relevant portion. EG if 50% of your use of the computer is non-business then you can only offset 50% of the normal capital allowance against tax.

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