Professional Accounting

Accounting is the measuring, and disclosure or provision of assurance about information that helps managers and other decision makers make resource allocation decisions. How to become an Accountant. Accountants in the US are called Certified Public Accountants and in the UK and Canada are called Chartered Accountants. Chartered Accountants in Canada are expected to know all US CPA knowledge as well as a Canadian Accounting body of knowledge. In order to become an Accountant an... Read Full Story

By admin • December 18th, 2009 The third instalment of the Accountancy Services Direct VAT update sheets deals with overseas trading. If you supply goods or services to overseas businesses, other EU countries or you reclaim VAT incurred in another EU country then you need to know about the changes to Cross-border trading VAT rules which take effect from 1 January 2010. The main issues are as follows: Place of supply rules for cross-border services to business customers will... Read Full Story

With a Globalize economy, any professional firm of lawyers or accountants should have contacts or representatives in other countries. These may be required as the existing clients of the professional firms may have operations that transcend national boundaries. This requires an association of lawyers and accountants that serves the purpose. IGAL has been established to serve the purpose of fostering cooperation between professional firms from different countries. The main purpose of this... Read Full Story

By admin • December 9th, 2009 In this Accountancy Services Direct article we will deal with the issue of electronic filing, are you ready for it and does it apply to you or your business? HMRC has a plan in place to have everyone filing their VAT online by 2012. From 1 January 2010 there are two things to consider: 1.When are you registering for VAT; and 2.Is your turnover greater than £100,000? Let’s look at each one in turn: 1.If you register for VAT post 1 April 2010... Read Full Story

BUSINESS SOFTWARE The Most Comprehensive Source for Software PC Magazine Chooses Peachtree Complete as Best Small Business Accounting Software   Related Images: Peachtree Software Sweeps Major Industry Awards ATLANTA, Feb. 28 / PRNewswire / - Peachtree Software, a leader in providing accounting solutions and expertise for small businesses, today announced that the editors of PC Magazine have named Peachtree Complete Accounting version 7. 0 as... Read Full Story

November 4th, 2009 | by admin | In the latest Accountancy Services Direct article we discuss the  Construction Industry Scheme. The Construction Industry Scheme (CIS) is a scheme that applies to contractors and subcontractors in mainstream construction work. It can also apply to businesses and organisations who have such a large annual spend on construction that they are deemed to be contractors in their own right. The scheme originated in 2002 but was extensively revised in 2007... Read Full Story

BUSINESS SOFTWARE The Most Comprehensive Source for Software Finding Mac accounting software for your small business - Mac Central   Related Images: Accounting software has long been available to try to make these daily duties as painless as possible. Mac - based businesses have several optionsboth as native applications and Web - based optionsthat bring varying abilities to the party. While Read more..   Related Images: Press... Read Full Story

October 26th, 2009 | by admin | Many of the questions our clients ask us at Accountancy Services Direct relates to Value Added Tax. Value Added Tax (VAT) is the most common form of tax as it is charged on most goods and services provided by UK VAT registered businesses. It is also charged on goods and some services (even accountancy services!) which are imported from countries outside of the European Union (EU) and brought in to the UK from other EU countries. VAT is charged when a... Read Full Story

Many of us are familiar with the need for accountancy services to support our business, however many small to medium sized business owners are unaware of what accounting services are available and the basic function of each. Here we will provide a basic overview, highlighting the important details that you need to know about the different accountancy services available for business based in and across the UK: Bookkeeping Services -  Many accountancy firms provide this service... Read Full Story

By admin • December 1st, 2009 There is one main thing happening on 1 January 2010 and that is VAT! VAT is having an update and we are going to look at a few key areas. This part will deal with the rate changes. The VAT rate is reverting back to 17.5% from 1 January 2010. There are some anti-avoidance rules to be aware of, www.hmrc.gov.uk/VAT/forms-rates/rates/anti-forcestall-guidance.pdf, but the general principles affecting the switch are pretty straightforward. Tax... Read Full Story