Tips please!!

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GBooks
GBooks Registered Posts: 7 New contributor 🐸
in General accounting discussion
Hi

I have just recently started my bookkeeping business and I am going to meet a client who is looking to go into a pub business, the client has asked me to scrutinise the last 2 years accounts and advise them if I think the business is viable.

Can anyone give me any tips on what to look out for or the best way of doing this please, would you normally give the client a report on your findings? Could anyone also advise on what they think would be an acceptable fee for this?

Thanks!! :001_smile:

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  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
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    My advice would be not to touch it with a barge pole. Unless you have experience of this type of work then it is fraught with difficulty. I would never do this for any of my clients.

    Sorry not to have been much help to you!

    Maybe someone on here who does this kind of work can better advise.
  • Poodle
    Poodle Registered Posts: 711 Epic contributor 🐘
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    I would go with Dean on this one, even though the AAT sylabus does cover performance appraisal.

    One comment though. Even without looking at the accounts, I would not expect the last two years trading for any pub to be a good indicator for investmenent into the industry, particularly in the current climate.

    Poodle
  • claudialowe
    claudialowe Registered Posts: 275 Dedicated contributor 🦉
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    The main question you would have to ask is, how reliable are the last 2 years accounts????

    Pubs are always top of the VAT/Tax man's hit list - along with other "cash" businesses.

    Claudia
  • GBooks
    GBooks Registered Posts: 7 New contributor 🐸
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    Thanks for all your advice!!

    I went to see the client and am glad I did, it turned out they just wanted a bit of advice on what things actually meant in the P&L and Balance Sheet and to understand them better. I gave them a few things to think about without actually saying whether I thought the business was a good investment or not. They were really pleased with the meeting and have said they will be back in touch with me as soon as they decide upon a business investment. :thumbup:

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