SEARCH, INDEX, UPDATES, CONTENTS, UNDERSTANDING, BASIC ACCOUNTS
Please tell us about any aspects of your accounts which you do not understand.
Phrases defined in the Glossary are displayed in italics.
Subtopics (please read in conjunction with the Glossary) -
Accounts can be prepared for many purposes, some are Statutory e.g. Limited Company accounts, some are necessary e.g. to prepare a Tax Return, others are advisory e.g. monthly management accounts to help in the running of a business.
The layout of some accounts is defined by law, e.g. Accounts prepared for Limited Companies have to comply with the Companies Acts.
Some accounts have to comply with Accounting Standards. Although not defined by statute, these standards have a similar effect.
Perhaps the best accounts are those which do not have to comply with any rules except common sense. Management accounts, prepared by a business for that business, can be laid out in any manner which suits that business. An outline of the Accounts we prepare is included under Services.
Most accounts will show comparative figures for the previous accounting period. Some will show a summary for the last five years.
The most recent figures are normally shown next to the narrative, previous figures further to the right.
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