COMPANY LAW - 21.10.2020
New company rescue procedure up and running
One of the measures introduced by the Corporate Insolvency and Governance Act 2020 was a new reconstruction plan to help companies survive the financial impact of the pandemic. The first such plan has recently been considered by the court. When can a reconstruction plan be proposed and what’s involved?
FORECASTING - 08.10.2020
Budgeting in unpredictable times
Given the ongoing economic uncertainty, the board members are questioning the value of an annual budget. What should your response be - how can you plan in these difficult and unpredictable times?
SPREADSHEETS - 08.10.2020
Formatting tips for Excel-based financial reports
When it comes to producing financial statements and reports in Excel, there are a few formatting rules that may help your reports appear more professional. What are the key ones?
CORONAVIRUS - INSURANCE - 01.10.2020
Business interruption policies - who’s entitled to a payout?
Nearly 400,000 businesses expected their insurance policy to soften the blow of losing income during the coronavirus lockdown. However, many insurance companies refused to pay up. Could a recent court ruling force them to do so?
BANKING - 22.09.2020
Q&A - can we refuse cash payments?
Q. We’ve read about several businesses that have refused to accept cash payments from their clients and customers. We thought that this practice was illegal. Is it or can we also say “no thank you” to cash? A. It’s not unlawful to refuse to accept cash payments in the UK. As a seller of goods and/or services, you have every right to decide on your own payment terms. For convenience and the security aspects, you may decide that you will only accept card payments, online transfers, mobile payments, such as ApplePay, or all three. The downside to saying “no cash payments” is that there are around 3m people who rely on cash for their everyday transactions. ...
FINANCIAL REPORTING - 03.09.2020
How to calculate a bad debt provision under IFRS 9
If your company has a large amount of trade debtors, then there are likely to be some bad debts hidden among the “good” debts and you should make a provision for them. But how should you go about it to comply with IFRS 9?