Accounting ideas

Many businessmen love to read about accounting and, i have decided to create a blog about accounting which will give knowledge about finance.

Major Difference Between Textile Designing and Fashion Designing

The value chain in the fashion and design can be quite long and complicated. It starts from the point of seeking raw materials. These are found in diverse forms and sizes and the end product determines at what stage one will go for it. It is therefore important to know at what stage one material is converted to the next.

The Distinction

A textile designer creates patterns, designs for fabric and develops different types of fabric. They also do embellishment of fabrics. It all starts from the very raw form in selecting the yarn, color of the yarn and the dyes for making the new fabric. Before they begin working on the fabric, they have to source for raw material to use in making the fabric. They instruct the weavers and knitters on how to make the fabric they have designed. Such fabrics are used in making clothes, carpets, and other related products. In some cases, they also work with finished fabrics. They select the prints which are embedded in the fabric. Cost-effectiveness and weather conditions of an area are put in consideration in choosing the fabric. Textile designers develop the raw material for the fashion designers. They do this in textile design firms.

Fashion designers use the final product from the textile designers to develop new clothes with new designs. They imagine designs put it on paper and add the desired color then they choose a fabric that will best suit the shape of the new design and make the clothes. Apart from making clothes, in current times they also make accessories, kids’ clothes, footwear, bags and many other items which are also used by men. A fashion designer is diligent in sourcing for the right fabric for the design so that they can use it in making physical samples of the clothes. In some cases, they will stitch the pieces together or hire a team of people who will put the pattern together to give the finished product shape. In the end, the sample is reproduced by factories for the user.

Weaccountax online cheap accounting services and training        

Nowadays, many businesses opt for the most effective and efficient way of reporting their finances and understanding their financial positions. Online accounting services are cheap since they do not require a lot of booking and constant calculations since the system updates itself. Calculations are so easy to do since one has to just prompt the system and it analyses the data. This is very efficient in terms of time and resources.

Benefits of these online services and training are innumerable. It helps compare financial information with market competitors and help evaluate the competitive position of the business in the market. In cases when one needs a loan from the bank or a financial market, a financial report is fundamental.

The Xero software saves the relatively small businesses an entire finance department. Clients are taught how to manipulate the software to achieve the optimal assistance in their financial book-keeping. Advantages of this software include:

  • Creating online invoicing for customers with a standard format
  • Clients can view their financial positions even via their phones
  • The software has voucher attached invoices which helps save time and space for filling physically
  • It can be able to generate a cost-benefit analysis chart
  • It is easy to understand and access hence user-friendly
  • The software has the ability to sync with other computer applications hence able to compare to other online accounting software solutions.

In the fashion industry, the various experts have to work in unity so that they can come up with the desired final product. On both ends, it is essential that they are accountable for their finances. This will help them determine the value of their enterprises and be able to make necessary adjustments where possible.

Disadvantages of Using Personal House Address for Your Company's Address

Every small business starts from somewhere. In fact, many entrepreneurs find it both convenient and cost-effective to begin from a home office, garage, or in the spare bedroom. Are you planning to venture into entrepreneurship but can’t afford office space in town? No need to worry. It is legally acceptable to operate your Limited Liability Company (LLC) from home. Running your startup LLC from home comes with a lot of benefits which may include:


  • Tax deductions- if you can meet all the basic requirements set by HMRC, you will qualify for a tax deduction on a number of aspects, including the cost of utilities, rent payment, or mortgage interest. You will have to prove regular and exclusive use of a section of your home to HMRC. Additionally, the home must be your principal place of residence.
  • Reduced administrative cost- running a home-based LLC eliminates the burden of paying costly office spare rents. Transport costs to and from the office are also eliminated. Reducing expenses is financially healthy for your startup.

Should You Use Personal Home Address as Your Company’s Address?


Although there are numerous benefits of running your company from home, using a personal home address may be a horrible idea. You shouldn’t if there are options. Remember that your business address will be available to Companies House, HMRC, and the general public. This, therefore, means that your home address will never be private anymore. The last thing you would want is to have the general public know exactly where you live. This includes customers, competitors, and even burglars. Can your home be safe under such circumstance?


A residential business address may ruin customers’ first impression of your company. Can you imagine entering into a business contract with a company whose invoices, agreement forms, and letters point down to an apartment? This must be sounding crazy to you. Unfortunately, that is the same feeling your business partners will have. Avoid doing so.


As a smart small business owner, you should consider using a rented mailbox, virtual business address, or separate address altogether. In fact, many small companies currently opt for a virtual business office and address.  With this options;

Your company looks professional- professionalism is vital as far as your company’s success is concerned. A virtual office helps you to create an impressive picture of the company. A virtual address also allows you to pick the preferred business location, get call services, and enjoy better advertising through Google search engines.




Cost management- unlike physical offices, a virtual office allows your company to only pay for whatever is needed. There is no cost of utilities and you don’t have to pay for cubicles, call services, and meeting rooms when they aren’t required.


Privacy and convenience- unlike using the home address for your company’s address, a virtual business address offers your home utmost privacy. Even though you will be working from home, you will be receiving all correspondences through Postal Mail Forwarding services. In fact, you can choose to pick the mails yourself or have them delivered to your home.


Depending on your business needs, you can buy virtual office packages that comprise of call services, conference, and executive lounges. You will enjoy the convenience of working from home while keeping your personal address private.


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How to become a certified management accountant (CMA)?

What is CMA?
Affirmed or Certified Management Accountant CMA is a bookkeeping or back expert. CMAs work in the zones of monetary arranging, examination, and administration basic leadership. Numerous bookkeepers, evaluators, and budgetary investigators gain the CMA assignment to progress in their vocations. The CMA qualification has particular training and works encounter prerequisites. You should likewise acquire a passing score on the CMA confirmation exam. A Certified Public Accountant (CPA) is a comparable assignment to the CMA.

The CPA accreditation is centered on bookkeeping and evaluating experts. A CMA proficient concentrates more on administration basic leadership and examination. On the off chance that you are uncertain whether you need to wind up plainly a CMA or a CPA, keep an eye on the course prerequisites for both accreditations. You might have the capacity to plan your coursework to meet both arrangements of necessities. Bookkeeping or fund entry level positions give you genuine experience and help you to arrange for full-time positions. Consider applying for temporary jobs while you are in school. Working at a temporary job will enable you to choose which profession way is the correct one for you.

Who affirms the CMA?
The Certified Management Accountant (CMA) assignment is a much-regarded qualification granted by the Institute of Management Accountants (IMA) which is a US-based overall relationship for bookkeepers and monetary experts working in the business.

Scope of CMA in the UK
For over 40 years, the CMA Certified Management Accountant accreditation has been the worldwide benchmark for administration bookkeepers and money related experts. Why? Since CMAs can clarify the why behind numbers, not only the what. And that can give you more prominent believability, higher gaining potential, and at last a seat at the administration table.

Comparison of CMA (US) and CMA (UK)
you will be surprised because both courses have same contents however, IMA which is belong to the US gives an ensured course and stands for Certified Management Accountant and CIMA which is located in UK gives a Chartered assignment and stands for Chartered Management Accountant and able to provide the facility to search for cheap online accountants in the UK by Weaccountax.

How to become a UK based certified management accountant CMA?
The Chartered Institute of Management Accountant (CIMA) Professional Qualification gives more procedure, greater administration bookkeeping and more pertinence over a wide business point of view. With its accentuation on vital business aptitudes, the CIMA Professional Qualification is a springboard to achievement both inside and outside the fund field. CIMA Chartered Management Accountants consolidate a number of cheap online accountants in the UK and an abnormal state of money related and administration aptitude with amazing business sharpness and basic leadership abilities.



leading inner business reviews, surveying hazard and get ready money related proclamations, administration bookkeeping. CIMA individuals are effective business investigators, administration specialists and venture administrators.


Why be a CMA?

The CMA is a propelled proficient confirmation particularly intended to gauge the basic bookkeeping and budgetary administration abilities. This is particularly applicable for achievement in a business domain.


CMA Skills are more practical

Different industry diaries have demonstrated that 80% of bookkeepers wind up in non-open bookkeeping. The administration bookkeeping learning and aptitude is in truth more helpful for these experts. Truth be told, numerous double CPA and CMA holders discover the materials canvassed in CMA all the more intriguing and pragmatic in their day to day work.


IMA makes it easy

IMA (the CMA exam head) make things clear, straightforward and sorted out for candidates. IMA transparently invites universal hopefuls with the exam offered in several areas around the world. t is less demanding not as a result of a low boundary of passage since hopefuls are as yet required to have a four-year college education, a thorough exam and 2 persistent years of administration bookkeeping knowledge to get affirmed. Be that as it may, IMA makes the way toward turning into a CMA as smooth as could be expected under the circumstances. Applicants can concentrate on passing the exam and satisfying the experience, rather than stalling out with the organization and clashing standards from various State Boards.



If you aren't sure, the CMA confirmation may not be beneficial for you, in any event at this stage. There is next to no utilization in the event that you seek to work in an open bookkeeping firm, either as an evaluator or in duty. Then again, on the off chance that you need to construct your vacation in corporate bookkeeping, the affirmation enormously improves your profile and information in the field.