- 3rd March 2018
- Posted by:
- Category: Business
Let us play a role to solve all of your Financial problems and be focus on your business
Area of East London:
East London is a popularly and informally defined part of London, capital of the United Kingdom, lying east of the ancient City and north of the River Thames. East London comprises the whole of six modern London Boroughs – Tower Hamlets, Newham, Waltham Forest, Barking and Dagenham, Redbridge, Havering – and the greater part of a seventh, Hackney. The East End of London is a subset of East London, consisting of areas close to the ancient City of London.
The term Accounting is very common one and we hear about the same in our day to day life. Before drilling down to other aspects of accounting, let us understand what does it means. In layman term & quote; Accounting is a process of recording, summarizing, analyzing and recording of financial transactions of an enterprise & quote; Accounting is one of the most important functions of any business enterprise. It is often referred to as & quote; Language of Business & quote; Accounting is a service activity. It is important as it provides quantitative information of financial nature to various stakeholders which is intended to be used in making economic decision. These stakeholders include investors, management, government, suppliers, financiers, regulators etc. Business accounting help in making a number of short term and long term business decisions which helps an enterprise to grow as well as penetrate in market.
Types of accounting:
There are two types of accounting: finical accounting and managerial accounting. Financial accounting is the field of accounting concerned with the summary, analysis and reporting of financial transactions pertaining to a business. This involves the preparation of financial statements available for public consumption. Managerial accounting is the process of identifying, measuring, analyzing, interpreting and communicating information for the pursuit of an organization's goals. This branch of accounting is also known as cost accounting. What does accounting allow you to do? Accounting is essential if you want to be able to grow your business in a way that can be measured and predicted. Having a system of tracking your business & #39;s assets, liabilities, and income lets you to make smart, informed business decisions based on the past performance and present financial health of your company. With a clear, organized accounting system you can not only analyze your company & #39’s financial data but also help it grow and profit. Accounting also helps you track who owes you what, what you owe to who, manage payroll records, track loan and interest repayments, attract potential investors, maintain a budget, and perhaps most importantly, sets you up with the financial data you need when it comes time to file and pay your company's taxes. The importance of Accountability: While accounting allows you to do all these great things, it is also supremely valuable in a defensive sense. When the accounting is done properly, the exposure to risks such as fraud are significantly minimized. And should the government ever conduct an audit on your company, your accounting history is going to be your best friend. In a way, accounting is the quantifiable conscience of the business world.
Acumen London is an accounting firm which operates in E14. The firm has been running over 13 years and was founded in Luton, Bedfordshire, UK. To provides the best service the firm takes full responsibility for all accountancy and HMRC compliance issues. By doing so, there clients get more leverage and confidence to focus on their core business activities rather than thinking of Payroll, TAX , VAT , Accounts and other calculations or HMRC compliance’s. Their aim is to find the best suitable accountancy service, tax strategy and planning for your business. Their clients will be supported by a dedicated team of experts, who have reputations for delivering quality service with client satisfaction a top priority. That’s why they proudly say, we know our clients and their needs.