Business news and opinion from Evans Weir > Tag: Accounting

The simple answer to this question is yes, but as with anything accounting related it’s not entirely straightforward…

At a basic level, a cashflow statement details the movements of money in and out of a business over a defined period. The cashflow statement enables you to monitor bank balances, allocate reserves, manage investments and plan significant procurement.

A profit and loss, also called a P&L, report is an important financial statement for every business. In summary profit and loss reports detail the company’s financial performance during any given period. It is a statement of the income and expenses, normally divided into categories, that when considered in conjunction with one another, explains how […]

Are your credit terms stopping you chasing outstanding sales invoices? It may seem obvious to reiterate the importance of chasing outstanding sales invoices, but how many companies can say, hand on heart, that they do chase them religiously and how many businesses can claim that they get 100% of invoices settled within their normal credit […]

Last month we wrote about the lost decade – the ten years since the financial crash of 2008 – and having discussed this theory in meetings with a range of SMEs it feels like the side effect of the lost decade is a numbness to economic uncertainty. That is not to say that businesses are […]

Offering employees a small benefit or treat is a method employers use to boost productivity and reward the hard work and commitment of their staff. But, what happens when these small gestures of goodwill start to become unwanted additional tax burdens to the employee? We explore the new trivial benefit tax exemption. Employers will be […]

O’Hagan’s Sausages has been established for 25 years and serves award winning sausages which are handcrafted on a daily basis using only the finest ingredients. The company prides itself on having pioneered the sausage revival in the UK during the 1980’s, leading to significant improvements within the industry. Founder Bill O’Hagan opened the company’s first […]

The VAT Flat Rate scheme can be extremely helpful for businesses with a turnover under £150,000. Moreover, it’s possible to actually generate profit out of the scheme if the flat rate percentage applicable to your sector is particularly favourable. For example, a journalist that pays 12.5% of gross sales as VAT each quarter, doesn’t have […]

Currently, there is a rumour spreading that it’s possible to backdate a dividend to avoid paying the dividend tax that applies from 6 April 2016. Unfortunately, we can confirm this is not true, a dividend simply cannot be backdated. Under current company law the dividend proposal must be voted on by the company’s directors. The […]