Introduction
Understanding accountancy and finance is like driving a car:-
- It fills most people with dread and fear;
- But once they've had a bit of experience it becomes second nature and they wonder what all the fuss was about. They probably even start to do it without thinking (just as drivers instinctively change gears etc.).
Who is interested?
Many people will be interested in your accounts. For example:-
- Your bank manager - since they will help him to decide whether to lend you money;
- Your building society - they will need to see your accounts before they will give you a new mortgage;
- The taxman - he needs to see your accounts to work out how much tax you owe;
- Your customers - new customers may look at your accounts to decide whether you are a successful and reliable Contractor;
- Your suppliers - who might use your accounts to decide whether you are a good credit risk. But most of all, you should be interested in your own accounts.
Please read on for more information
