FOREIGN EXCHANGE - 08.02.2024
How to calculate forex risk
Your company is seeking to widen its international reach in search of new markets for sales. You’ve been asked to consider what the foreign exchange risks (forex) are likely to be. Where should you start?
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EMPLOYEE EXPENSES - 08.02.2024
Potential to reclaim overpaid NI on car allowances
A 2023 tax case introduced a change in the way that NI is charged on car allowances. If you pay your employees flat rate car allowances, what do you need to know?
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SPREADSHEETS - 08.02.2024
How to add hierarchies to pivot tables
You’ve heard that you can set up hierarchies in pivot tables. What are the advantages of doing so and how do you go about it?
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INTEREST RATES - 08.02.2024
Bank base rate held at 5.25%
On 1 February 2024 the Bank of England announced that the base rate would remain unchanged at 5.25%. It also released its inflation report in which it said it expected inflation, currently 4%, to drop quickly in the next six months to 2% before rising again later this year. What does this mean for your business? If inflation does fall as rapidly as forecast, then interest rates could be cut by June 2024. Therefore, if your business has excess cash to invest in a fixed-term savings product, consider opening an account sooner rather than later. If you can afford to tie the cash up for a year, you could earn up to 5.1% interest. ...
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ACCOUNTING SOFTWARE - 08.02.2024
Lessons from the Horizon scandal
The flawed Horizon accounting system led to the wrongful conviction of hundreds of sub-postmasters. What lessons can you learn from this when implementing new accounting software?
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ACCOUNTING POLICIES - 04.01.2024
How does inflation affect your stock valuation?
The company’s year end has passed and the annual stock count completed. But in this era of higher inflation, it’s more difficult to put a value on the stock. What’s the best way to value it?
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