Spouses Trusted over Accountants and Bank Managers for Business Advice

"Darling, tell it to me straight" – Husbands and wives trusted over accountants and bank managers for straight talking business advice T-Mobile Research key findings: Small business owners trust husbands or wives over accountants and bank managers to give them straight talking business advice Small business owners seek advice from those that will ‘tell them the truth’ and ‘give it to them straight’ Over half of UK small business owners will turn to their husband, wife or partner before anyone else for straight talking business advice, according to a national survey of 2,000 small business owners by T-Mobile. Spouses and partners (51%) were preferred to accountants (22%), trade bodies or other local businesses (3%) and bank managers (2%). This trend was greatest in the North... »

Accountancy: The future outlook

Forecast: More highly skilled accountants needed

> Business leaders expect tough challenges to 2014 – and forecast a need for more highly skilled accountants. Businesses will find it tougher to raise finance, be less likely to give credit and will place greater demands on qualified accountants in five years’ time as a result of the current global economic downturn, new research by ACCA (the Association of Chartered Certified Accountants) has shown. An increased focus on risk management means that accountants will need to demonstrate complex business and managerial skills, claims the survey of 750 business executives across eight countries. ACCA and research company the BPRI Group asked chief financial officers, partners and senior accountants in Europe, Africa and Asia how business will have changed in five years’ time ... »

Managing year end deadlines

Managing year end deadlines more important than ever

As year end approaches for many small businesses, the Institute of Chartered Accountants in England and Wales (ICAEW) warns SMEs to think ahead and start planning now so they are not faced with any bombshells. Clive Lewis, Head of SME Issues at ICAEW, says: “It is essential that you build time into your workload for year-end planning. This will ensure that there are no surprises, or missed deadlines and that you have sufficient time to discuss any issues with your advisers and shareholders. These issues need to be reviewed on an ongoing basis.” The ICAEW advises that as year end approaches businesses should receive a letter from their chartered accountant reminding them of the date of their year end, requesting the necessary financial records and information, and suggesting cli... »