Tag Archives: #FinancialStrategies

When making financial projections why must a business owner consider economic conditions ?

Financial Projections Financial Projections: A business owner must consider economic conditions when making financial projections because the overall economic environment can have a significant impact on the performance of their business. Here are some reasons why economic conditions should be taken into account: 1. Market Demand: Economic conditions influence consumer behavior and purchasing power.… Read More »

What is tax planning?

Taxs Planning Taxs Planning is a lawful and widespread approach embraced by individuals and businesses to reduce their tax obligations while operating within the boundaries of relevant tax legislation. Tax plannings involves reviewing your financial situation, income sources, deductions, credits, and other relevant factors to identify legal strategies that can help reduce your overall… Read More »

Can LLP take loan from bank?

Can LLP take loan from bank Certainly, a Limited Liability Partnership generally has the ability to obtain a loan from a bank or other financial institution, as long as it meets the lender’s approval criteria and demonstrates adequate creditworthiness. Many banks offer specialized loan products specifically designed for businesses, including LLPs. It fulfill… Read More »

Are tax planning fees deductible ?

Tax Planning Fees Deductible Tax planning feesmay be deductible as a business expense if they are incurred for the purpose of managing and minimizing your tax liability. However, the deductibility of tax planning depends on the tax laws and regulations of your jurisdiction. In general, tax fees that are directly related to the determination,… Read More »

How to prepare financials of a company?

Process of completing financial statements

Preparing the financials of a company Preparing the financials of a company involves several steps. Here is a general outline of the process: 1.Collect and Organize Financial Data: Gather all relevant financial information, such as transaction records, bank statements, invoices, receipts, and other supporting documents. Ensure that the data is accurate, complete, and organized… Read More »

Is a managed fund worth it?

Managed Fund Whether a managed fund is worth it depends on various factors and individual preferences. Here are some considerations to help you evaluate the worth of a managed fund: 1. Professional Expertise: These funds are typically managed by professional fund managers who have expertise in investment strategies and market analysis. If you lack… Read More »

Q10.44 Book keeping VS Accountancy ?

Book keeping VS Accountancy Book keeping VS Accountancy Website link Book keeping VS Accountancy Bookkeeping and accountancy share a close connection in the domain of financial management, yet they encompass separate roles and responsibilities, making them unique from each other.. Here are the key differences between Book keeping VS Accountancy: Scope: Bookkeeping focuses on… Read More »

Why do you need bookkeeping?

Importance of Bookkeeping Importance of bookkeeping, Bookkeeping is necessary for several reasons: 1. Financial Organization: Bookkeeping helps you keep your financial records organized. By accurately recording and categorizing your business transactions, such as sales, expenses and payments, you can maintain a clear and systematic overview of your financial activities. 2. Financial Monitoring: Bookkeeping allows… Read More »

Project finance reporting to?

Project finance reporting Project finance reporting is generally carried out by multiple stakeholders who are involved in the project. Here are some key entities that may be responsible for project finance reporting: 1.Project Sponsors: Project sponsors are the entities or individuals who initiate and oversee the project. They are often responsible for providing updates… Read More »

Q14.85 How to do tax planning for individual?

Tax Planning for Individual Tax planning for individual involves various strategies to minimize tax liabilities and optimize financial situations. Here are some key steps to consider when doing tax planning for individuals: 1. Understand Tax Laws: Stay informed about the latest tax laws and regulations that apply to individuals. This includes knowledge of income… Read More »