Best Of
Re: How to calculate Profit Margin %
Hi @DanielRose
I hope you are well?
Not too sure if this is correct or if it is what you meant.
So let's say your costs are £100 but you want a 20% profit Margin. So we would do 1 - 0.2 = 0.8. Then you would do £100 / (Divide By) 0.8 = £125. So if you took 20% off £125 it would be £100.
In simple the 1 just represents 100% as a decimal and then minus by your required profit margin (again as a decimal) then divide by the difference.
Another example - 25% Profit Margin of £50. So it would be 1- 25 = 0.75. So we would £50 / (Divide by) 0.75 = £66.67. If you take off 25% from £66.67 you will get back to £50.
Hopefully this is what you meant?
Kind regards
Shamil
I hope you are well?
Not too sure if this is correct or if it is what you meant.
So let's say your costs are £100 but you want a 20% profit Margin. So we would do 1 - 0.2 = 0.8. Then you would do £100 / (Divide By) 0.8 = £125. So if you took 20% off £125 it would be £100.
In simple the 1 just represents 100% as a decimal and then minus by your required profit margin (again as a decimal) then divide by the difference.
Another example - 25% Profit Margin of £50. So it would be 1- 25 = 0.75. So we would £50 / (Divide by) 0.75 = £66.67. If you take off 25% from £66.67 you will get back to £50.
Hopefully this is what you meant?
Kind regards
Shamil
Re: Subject: Study Partnership for AAT 2
Hi @AGANGAR and @wolf2008
Good luck with your studies. I am currently a Level 4 Student and am looking to start an online instant messaging page for Accounting and Finance. Would you be interested in joining? The aim is helping others and there is training videos on there etc.
Do let me know if you want to join I can send you the link it's on Discord which is similar to WhatsApp.
Kind regards
Shamil
Good luck with your studies. I am currently a Level 4 Student and am looking to start an online instant messaging page for Accounting and Finance. Would you be interested in joining? The aim is helping others and there is training videos on there etc.
Do let me know if you want to join I can send you the link it's on Discord which is similar to WhatsApp.
Kind regards
Shamil
Re: Subject: Study Partnership for AAT 2
Hey, I'm new this this and just started my AAT Level 2 last week. I'm doing it fully online so have no one to discuss with either so I'm certainly up for a study partner!
wolf2008
1
Subject: Study Partnership for AAT 2
Subject: Study Partnership for AAT 2
Hi everyone,
I’m currently on my AAT journey, specifically studying AAT Level 2. I’m also awaiting my exam results for the Introduction to Bookkeeping course.
I wanted to reach out to those of you who are studying independently like I am. I think it could be beneficial to team up with a study partner. We could discuss a chapter or topic once a week or so.
I'm just putting this idea out there because I currently do not have anyone to communicate with who is undergoing the same studies. A study or discussion group would be really helpful.
Looking forward to hearing your thoughts!
Hi everyone,
I’m currently on my AAT journey, specifically studying AAT Level 2. I’m also awaiting my exam results for the Introduction to Bookkeeping course.
I wanted to reach out to those of you who are studying independently like I am. I think it could be beneficial to team up with a study partner. We could discuss a chapter or topic once a week or so.
I'm just putting this idea out there because I currently do not have anyone to communicate with who is undergoing the same studies. A study or discussion group would be really helpful.
Looking forward to hearing your thoughts!
AGANGAR
2
Re: Struggling to pass
I’ve really struggled with if as my first unit on Level 4. I sat the exam in December and got 59% then again in February and got 64%
I think i am going to move on to the next unit and revisit this one in the Summer.
Level 4 is a big step up from Level 3 and i got exceeded on Task 1 & 2 but then below requirement for Ratio analysis, conceptual framework, and International Accounting standards, i think a lot of it was me feeling overwhelmed and panicking.
Good luck when you resit, don’t give up
I think i am going to move on to the next unit and revisit this one in the Summer.
Level 4 is a big step up from Level 3 and i got exceeded on Task 1 & 2 but then below requirement for Ratio analysis, conceptual framework, and International Accounting standards, i think a lot of it was me feeling overwhelmed and panicking.
Good luck when you resit, don’t give up
Re: Nominal codes after VAT return
Assuming the VAT element of the invoice was accounted for correctly then a straight forward journal removing the net value from the incorrect nominal account and adding it to the correct account should be sufficient.
The internal credit/invoice re-entry method mentioned by shamilkaria is very useful when the correction is a bit more complicated or involves multiple lines/codes - but in this instance a journal is probably cleaner.
The internal credit/invoice re-entry method mentioned by shamilkaria is very useful when the correction is a bit more complicated or involves multiple lines/codes - but in this instance a journal is probably cleaner.
Re: Next steps
Hi @Tanya0997
Trust me believe in yourself. I am the same don't worry I don't believe much in myself haha.
The only way you will get experience is if you are working in accounts. Speak to your manager or senior and ask them could you get involved in the accounts prep or management accounts. You need to have a chat with them and let them know you are interested in taking the next step. Worst case scenario is no and you continue doing your current job and look for something else or best case is they give you an opportunity.
No worries most welcome, happy to help you out in your job search if you want as I am in a similar situation haha
Kind regards
Sham
Trust me believe in yourself. I am the same don't worry I don't believe much in myself haha.
The only way you will get experience is if you are working in accounts. Speak to your manager or senior and ask them could you get involved in the accounts prep or management accounts. You need to have a chat with them and let them know you are interested in taking the next step. Worst case scenario is no and you continue doing your current job and look for something else or best case is they give you an opportunity.
No worries most welcome, happy to help you out in your job search if you want as I am in a similar situation haha
Kind regards
Sham
Re: Capital Allowance for shed/cabin
If it’s not movable then not sure how CA can be claimed, maybe for the fixtures and fittings inside but not the structure.
Re: Can a Netflix subscription be an allowable expense
I would advise quite strongly against it. For how much a Netflix subscription costs it’s really not worth the risk!