To qualify for being able to file shortened accounts a small company should satisfy at least two of three conditions. The three exemption conditions prior to April 2008 were that annual turnover is less than 5.6 million pounds, balance sheet total is less than 2.8 million pounds and the average number of employees is less […]

You might be under the false impression that because someone owns a medical practice they are very wealthy. It might be true, but just as easily it might not. If a physician isn’t making the kind of money he should it might be because he doesn’t have the skills necessary to take care […]

“Just when you thought Sarbanes Oxley concerns had been sufficiently addressed so that non-public companies could take the issue off their dashboard, things have changed, ” says Gary W. Patterson, Enterprise Risk Management expert and speaker. He forewarns that Enterprise Risk Management (also referred to as ERM) will soon become a business issue for almost […]

The following item was reported in a recent American Institute of Certified Public Accountants communication:
“The Exempt Organizations Division of the IRS had posted on the IRS web site a controversial document setting forth the Service’s view on what constitutes good governance practices for tax-exempt entities. Included in the document was the suggestion that audit […]

When you own your own business it is important to enlist the help of an accountant in order to provide audit services. This is because it provides documentation that you are dealing with the financial aspect of your business in the correct way and can be used as evidence if any issues arise.
Some people […]