Best Of
Re: AML - Want to hear your thoughts on this!
Hi,
I have never experienced this, but in my opinion if on the inital discussion they give you hints that they do not disclose everything, I would not engage with them as you would not want any issues later on down the line.
If you have already been working for them and then you suddenly realise holes are appearing, missing information etc. I would first ask them about it in a non suspicious way as it could just be a genuine mistake. If they are still being hesistant you would let them know it is your professional duty to ensure accounts are accurate and that this would affect your professional integrity. If they then provide you with the information you are sorted, if not you would let them know that you are no longer looking to provide your services to them, ensure any work done before passing it back to them is done to a satisfactory standard. If Bribery / Anti money Laundering is involved then you would whistleblow to the relevant bodies to investigate, because if another business down the line does it before you and the regulatory body find out the accounts are signed off by you then you would be questioned about it, this would put your license on the line. You will still get questioned if you whistleblow but at least your license wont be on the line.
Hope this helps
I have never experienced this, but in my opinion if on the inital discussion they give you hints that they do not disclose everything, I would not engage with them as you would not want any issues later on down the line.
If you have already been working for them and then you suddenly realise holes are appearing, missing information etc. I would first ask them about it in a non suspicious way as it could just be a genuine mistake. If they are still being hesistant you would let them know it is your professional duty to ensure accounts are accurate and that this would affect your professional integrity. If they then provide you with the information you are sorted, if not you would let them know that you are no longer looking to provide your services to them, ensure any work done before passing it back to them is done to a satisfactory standard. If Bribery / Anti money Laundering is involved then you would whistleblow to the relevant bodies to investigate, because if another business down the line does it before you and the regulatory body find out the accounts are signed off by you then you would be questioned about it, this would put your license on the line. You will still get questioned if you whistleblow but at least your license wont be on the line.
Hope this helps
sk2022
1
Re: Current liabilities on the SFP
Current assets in the SFP start with cash, the most liquid.
Here is the AI view of the correct sequence: In order of liquidity, current assets are typically listed as: Cash, cash equivalents, marketable securities, accounts receivable, inventory, and prepaid expenses; with cash being the most liquid and prepaid expenses being the least liquid.
In my opinion, this list is correct.
Here is the AI view of the correct sequence: In order of liquidity, current assets are typically listed as: Cash, cash equivalents, marketable securities, accounts receivable, inventory, and prepaid expenses; with cash being the most liquid and prepaid expenses being the least liquid.
In my opinion, this list is correct.
PeterC
1
Re: Am I too old to apply for an AAT Trainee
It is never too late to become an AAT Trainee.
Accountancy Firms that continue to look for graduates are starting to look more and more out of date. The big firms now offer apprenticeships. Have you thought about an apprenticeship?
Accountancy Firms that continue to look for graduates are starting to look more and more out of date. The big firms now offer apprenticeships. Have you thought about an apprenticeship?
Re: practice exam1 (level 3) (FAPS) - question about part exchange ??
When he bought the first van, only £27,500 is debited to the "Van" account. The VAT he paid disappears into the VAT account and is used to reduce his quarterly payment to HMRC. This is why VAT is not relevant when it comes to disposal.
"Also on question Biii Why did they include the VAT on the £36000 and not on the £9500?": The £36,000 doe not appear in Biii, I guess you mean Biv. This is about cash (which includes VAT), not asset value (which does not include VAT). His cash payment is the cost (£36,000) plus VAT (£7,200) less the part-exchange (£9,500) = £33,700
"Also on question Biii Why did they include the VAT on the £36000 and not on the £9500?": The £36,000 doe not appear in Biii, I guess you mean Biv. This is about cash (which includes VAT), not asset value (which does not include VAT). His cash payment is the cost (£36,000) plus VAT (£7,200) less the part-exchange (£9,500) = £33,700
PeterC
2
Re: AAT Level 3 Management Accounting Techniques
The reason for this is that there is an area of Excel, therefore it needs to be human marked.
anony123
1
Re: AAT | Continuity of practice cover
Hi Hafez,
I am looking for continuity of practice cover as well. I am not sure that you have got one in place. If you are still looking for the cover, please let me know.
I am looking for continuity of practice cover as well. I am not sure that you have got one in place. If you are still looking for the cover, please let me know.
ZAY99
1
Re: Business Awareness Resit - 66% Achieved!
As you have taken the exam recently I would focus on the Examiners report.
Junior Accounts Assistant/Office Admin in Hampstead, London
OFFICE ADMISTRATION AND ACCOUNTS ASSISSTANT at a Private Limited Company
Contract: Permanent
Reports To: Finance Director
Hours: 8.30am to 5.30pm (Full Time, office based)
Probation Period: 6 months
Based in: London, Hampstead (Northern Line/ free parking available on site)
Applicant should live within 1 hour travel time
Salary: Competitive
Start Date: Flexible (February to March ’25)
Application Deadline: 31 January 2025
Job Description: Main description of the role
We are a small family office, with under 10 staff members, that manages and keeps records of our assets/entities. There is a very high level of paperwork received by post and digital files received by email. These documents relate to but are not limited to the following: banking, managing properties, Charitable Trust and grants applications/processing, auditors as well as personal correspondence and family records.
The successful applicant will receive training on the job to develop the skills required to achieve a successful career. Option to train for accountancy qualifications, support for training and fees is provided subject to successful probation period.
No prior accounting work experience is necessary as full training will be provided. Initially, training will be provided in basic bookkeeping, Sage transaction posting and VAT to develop an understanding of the fundamentals of these areas.
Job Related Skills
• Basic accounting debit and credit knowledge is essential - equivalent of AAT level 2, as well as basic excel knowledge.
• Knowledge of Sage 50 Accounting package would be an advantage.
• Ability to communicate complex issues effectively by telephone, in writing, by e-mail and in person
• Methodical and organised approach to tasks, with an eye for detail
• Ability to work calmly under pressure prioritising competing demands effectively
• Initiative, flexibility and ability to handle change
• Ability to produce accurate summaries of meetings, events and conversations
• Good problem-solving skills and ability to use initiative
• Commitment to continuous personal development
• Ability to work alone, as well as working co-operatively as a team member
Job Duties:
• Various accounts assistance.
• Assistance to the Office Manager and general office support.
• Handling telephone enquiries promptly and efficiently.
• Grants database management, application processing and liaising with charitable organisations (full training will be provided).
General office duties
• Scanning, filing and copying of files.
• Assistance with sourcing lunches and preparation of hot drinks for directors and any meetings as and when required
• Assistance to Office Manager for quarterly management meetings preparations and set-up
• Assistance with booking travel and accommodation for directors
• Any other ad-hoc office duties as required
Cover Duties (as and when required)
• Full cover for Office Manager/Personal Assistant and specific assistance to the directors with diary management, in house meetings set-up, lunches / hot drinks, arrangement of travel & accommodation
• Other small tasks cover when other staff are on leave.
Please send CV to cs@nroditi.com
Contract: Permanent
Reports To: Finance Director
Hours: 8.30am to 5.30pm (Full Time, office based)
Probation Period: 6 months
Based in: London, Hampstead (Northern Line/ free parking available on site)
Applicant should live within 1 hour travel time
Salary: Competitive
Start Date: Flexible (February to March ’25)
Application Deadline: 31 January 2025
Job Description: Main description of the role
We are a small family office, with under 10 staff members, that manages and keeps records of our assets/entities. There is a very high level of paperwork received by post and digital files received by email. These documents relate to but are not limited to the following: banking, managing properties, Charitable Trust and grants applications/processing, auditors as well as personal correspondence and family records.
The successful applicant will receive training on the job to develop the skills required to achieve a successful career. Option to train for accountancy qualifications, support for training and fees is provided subject to successful probation period.
No prior accounting work experience is necessary as full training will be provided. Initially, training will be provided in basic bookkeeping, Sage transaction posting and VAT to develop an understanding of the fundamentals of these areas.
Job Related Skills
• Basic accounting debit and credit knowledge is essential - equivalent of AAT level 2, as well as basic excel knowledge.
• Knowledge of Sage 50 Accounting package would be an advantage.
• Ability to communicate complex issues effectively by telephone, in writing, by e-mail and in person
• Methodical and organised approach to tasks, with an eye for detail
• Ability to work calmly under pressure prioritising competing demands effectively
• Initiative, flexibility and ability to handle change
• Ability to produce accurate summaries of meetings, events and conversations
• Good problem-solving skills and ability to use initiative
• Commitment to continuous personal development
• Ability to work alone, as well as working co-operatively as a team member
Job Duties:
• Various accounts assistance.
• Assistance to the Office Manager and general office support.
• Handling telephone enquiries promptly and efficiently.
• Grants database management, application processing and liaising with charitable organisations (full training will be provided).
General office duties
• Scanning, filing and copying of files.
• Assistance with sourcing lunches and preparation of hot drinks for directors and any meetings as and when required
• Assistance to Office Manager for quarterly management meetings preparations and set-up
• Assistance with booking travel and accommodation for directors
• Any other ad-hoc office duties as required
Cover Duties (as and when required)
• Full cover for Office Manager/Personal Assistant and specific assistance to the directors with diary management, in house meetings set-up, lunches / hot drinks, arrangement of travel & accommodation
• Other small tasks cover when other staff are on leave.
Please send CV to cs@nroditi.com
Re: Monthly invoicing - How to display on invoices
Hi J_ACO
Depending how you have communicated and agreed your fee structure with your clients would "part payment", "instalment" or "breakdown of charges" work?
I'm just wondering if it's for your purposes or for your clients clarification. Are you looking to track your costs and income to your different services? If it's for you and you are using software you will probably have a field available when you set up your products/services which you can use to categories.
Depending how you have communicated and agreed your fee structure with your clients would "part payment", "instalment" or "breakdown of charges" work?
I'm just wondering if it's for your purposes or for your clients clarification. Are you looking to track your costs and income to your different services? If it's for you and you are using software you will probably have a field available when you set up your products/services which you can use to categories.
Re: Monthly invoicing - How to display on invoices
I do monthly fees for some clients. I send them the quote by email for the whole year, breaking down the costs for each service, with a total and 1/12 monthly amount. The invoices then say "Monthly fee as agreed by email on dd/mm/yy". Nice & simple and a handy reference for both sides for when it needs to be reviewed.
zxcvb
1