We all know machines can perform repetitive tasks consistently, efficiently and accurately, and intelligent software is finding its way into every part of our lives – phones which can track your movements, fridges that tell you when to order more milk, websites which suggest content you might like to view… Most of us willingly accept […]
If you’ve been following the blog for a while you’ll have noticed that we write about real conversations we’ve been having with real business owners, and today’s entry is no different. When one person asks something chances are other people will find the answers helpful, so we see real value in sharing these things – […]
The second entry into the KFA reference library addresses the second most frequently-asked question arising during conversations we’ve been having with independent business owners. Note – the following is a simplification, but if you bear these few dates in mind you won’t go too far wrong. A competent accountant should make sure you meet these […]
Since KFA went live in November 2016, one question which has come up more times than any other from independent business owners is whether or not to register for VAT. If your sales income is over £83k per year (for 16/17 tax year) you should already be registered for VAT except in rare circumstances. Many […]
Any machine or system requires inputs, processes and outputs. Look at a car; petrol goes in, the engineering converts it into motion, and the car moves. The best machines push optimised inputs through extremely fine-tuned processes to achieve an outstanding result. In an accounting context these elements can be described as; Inputs = bookkeeping records […]
In a world where everyone has an opinion and the internet contains more fiction than fact, here are three common misconceptions about our industry which small business owners should know…
Kung Fu Accounting is not just a quirky name – there is a deeper meaning to discover.