OF FINAL ACCOUNTS -2-
The more profit declared equates
to higher taxation and clearly I see it as part of my duty
to both you the client and the Inland Revenue that you declare
a true and fair amount of profit. I try to add value,
so when you pay my fees you will know and understand more about
your business than you did before you came to me.
The Bank is the heart of all businesses
and therefore a stronger Bank balance would normally indicate
a strong business. This is why it is essential to keep
on top of Debtors (Customers who owe you money) and try and
extend the payment to Creditors (suppliers to whom you owe
money) as far as possible. A business showing Bank borrowing
means that they are reliant on the banks in times of low productivity. This
is why many businesses will use hire or lease facilities as these
do not show up in the Balance Sheet.