Archive for May, 2008

APEX Analytix hires Recovery Analysts / Audit Advisors

Tuesday, May 20th, 2008

Here’s another hot job from accjobs.com, the ‘accounting jobs‘ website:

APEX Analytix has completed successful A/P recovery audits for nearly 20 years, for some of the largest corporations in their industries. Our vision is for proactive controls, improved A/P processes and best practices that pushed our team to the forefront in the industry.

Their UK office, located in Milton Keynes, is seeking to expand our audit team due to continuing company and client growth. We are seeking Recovery Analyst/Audit Advisors whose main roles will consist of basic auditing and overpayment claims recovery.

These positions will report to Senior Audit Advisors and will be involved in reviewing client payment and purchasing transactions to identify payment errors and making recommendations to clients related to the enhancement of their procure-to-pay processes. Responsibilities will also involve communication with both APEX clients and our clients’ vendors in the process of recovering overpayments.

For more information, click on the following link: Recovery Analysts / Audit Advisors

40% reduction in house sales says RCIS

Tuesday, May 20th, 2008

Property sales may fall by up to 40% this year, because of the credit crunch, the Royal Institution of Chartered Surveyors (Rics) has claimed.

In its updated forecast for the housing market in 2008, Rics also predicted that prices would fall by up to 5%.

The slowdown has also led to removals firms seeing a slump in business, and building firms are also feeling the pinch.

Rics chief economist Simon Rubinsohn said the outlook was worrying.

“Money looks set to remain tight and many will continue to find that access to the market is restricted by cautious lenders,” he said.

“This could have important ramifications for the wider economy,” he added.

77 stores to close in Currys.digital re-structure.

Friday, May 16th, 2008

DSG International, the owner of Currys and PC World brands, is to dramatically reduce the number of its Currys.digital stores and cut its dividend as part of an aggressive ‘revival plan’.

A spokesperson said 77 Currys.digital shops out of the 177 outlets would shut, reducing their high-street footprint by more than 40%.  This streamlining is happen as their leases expire over the next five years.

The closures are part of a large-scale cost reduction plan by DSG, which it forecasts will cut costs by up to £50m in 2008/09.

The announcement came as DSG reported a modest 1% rise in like-for-like sales for the year to 3 May.

DSG’s shares initially fell by almost 12% on the news, but later rebounded to close 7.5% lower at 65 pence.

SEC to enforce XRBL standard in US

Friday, May 16th, 2008

At a recent meeting, the US Securities and Exchange Commission (SEC) has set out its recommendation that companies should submit their accounts electronically using XBRL, otherwise known as the eXtensible Business Reporting Language. 

A phased implementation is planned, beginning with companies turning over more than $5bn annual for financial periods beginning on or after 15 December 2008 and extending in successive years to other US and international filers who use US GAAP a year later.

The interesting thing is, will the UK follow suit?

Here, Companies House already accepts XBRL accounts data and HMRC is also interested in it for the submission of tax accounts.

CIMA annual general meeting 14 June 08

Thursday, May 15th, 2008

CIMA, the Chartered Institute of Management Accountants, are to hold their AGM on 14th June 2008.

In addition to a discussing the annual report of the Council and accounts for 2007, the all important topic of Member’s Fees and Subscriptions will be debated.   CIMA propses with effect from 01 Jan 09, application fees for Fellows shall be 188 pounds and for Associates shall be 122 pounds.  For annual subscriptions, Fellows will pay 221 pounds and Associates will pay 210 pounds.

Other topics on the agenda include Appointment of Auditors.

The meeting is to be held at the Cafe Royal, Regent Street, London.

QualifiedAccountant.com website is relaunched.

Wednesday, May 14th, 2008
One of the longest running accounting websites, Qualified Accountant, has been re-launched.
The once static website now boasts a complex and comprehensive geographical search interface for UK accounting and finance jobs.  The look and feel has also been simplified, whilst the ‘back-end’ systems have been written.  In partnership with accjobs.com, the accounting jobs website, qualifiedaccountant.com now features more than 10,000 UK jobs for accountants, auditors, bankers, and finance professionals.
The website remains free, and does not require candidates to register.

Travel Agent seeks Assistant Accountant

Wednesday, May 14th, 2008

Here’s another hot job from accjobs.com, the ‘accounting jobs‘ website.

An award winning travel agency with over a £8 million turnover p.a. and expanding in growth currently has an urgent need to fill this position which has been created due to enormous workload. Role:

The applicant’s main duties will be to involve in the accounting activities of the parent company and its subsidiary to include • Preparation, maintenance of financial records including income statement & balance sheet • Maintenance and reconciliation of ledgers and resolving discrepancies • Ensure the reconciliation database is updated and each reconciliation, is filed and ready for review by the team leader and also available for external auditors • Processing, maintenance and follow-up of all records of invoices • Solving Accounts queries and problems • Monitor company expenses, complete and submit company tax returns • Management of Petty Cash • Management of VAT returns • Budgeting, forecasting and costing. Candidates:

Must be either a part-qualified ACCA Or have three years or more relevant experience at NVQ level 3 or above. In addition he/she must be good with figures, research and anaylsis, confident to work as part of a team and on your own.

Click here for job details and application:

Tax is taxing for Apprentice, Raef Bjayou!

Wednesday, May 14th, 2008

Raef Bjayou, one of the remaining candidates on hit TV show The Apprentice,  might be as smooth-as-silk in the boardroom.  But, behind the scenes, he is facing a fine for failing to missing the accounts filing deadline with Companies House.

Bjayou’s import-export business, called Infinitate, has missed its deadline by three weeks.  A spokesman for the reality TV star said there was nothing untoward about his failure to file the accounts on time, according to newspaper reports.

‘It was simply an oversight that occurred because his business accountant was on holiday. He was completely unaware and will send them in now, but he has done all of his personal tax returns,’ the spokesman said.

AIA celebrates its 80th anniversary

Wednesday, May 14th, 2008

The Association of International Accountants (AIA), which was founded in the UK in 1928 as a professional accountancy body, celebrates its 80th anniversary in 2008.  From its conception, the AIS has promoted the concept of ‘international accounting’ to create a global network of accountants in over 85 countries worldwide.

Often overlooked in the UK as a ‘qualification’, the AIA is recognised by the UK Government as a Recognised Qualifying Body for company auditors under the Companies Act 1989, across the European Union under the Mutual Recognition of Professional Qualifications directive and as a Prescribed Body under the Companies (Auditing and Accounting) Act 2003 in the Republic of Ireland.  In addition, is also statutorily recognised and listed accordingly in the Companies Act 1985 (as amended) for the purpose of Reporting Accountants.

The AIA professional qualification is currently recognised in over 30 countries worldwide.

Darling unveils ‘10% compensation package’

Wednesday, May 14th, 2008

The chancellor, Alastair Darling has announced a £600 increase in the previously budgetted 2008/09 personal allowance as a “compensation package” for lower earners affected by the controversial abolition of the 10% band for earned and pension income.

This measure also reduces the higher rate threshold to compensate and so higher rate tax paying earners do not also receive the £120 windfall, which applies for this tax year only.

Gordon Brown had previously announced the removal of the 10% tax band for this year in his 2007 budget, but it seems that MPs, cross party were unable to appreciate the full effect of the tax change until recently.

Darling, in this ‘mini-budget’ has now silenced Labour’s ‘tax rebels’ and attempted to strengthen his party’s position ahead of the Crewe and Nantwich by-election.