I recently had cause to recall a type of work I did whilst studying to become a chartered accountant and in the period just after I qualified - brown paper bag accounts . This is not some kind of under the table tax evasion scheme but a phrase used to describe the accounts preparation work for the smallest of small businesses. It describes what the client would provide in terms of records from which to draw-up accounts, submit their VAT returns and produce their tax returns. It would be a bag (ok, sometimes and folder or a box) of expense receipts of various types, from shop tills and handwritten chits to vellum fee notes from solicitors. There would also be a bunch of bank statements and credit card bills. If you were lucky there would be a cash book which may record the client's drawings (money taken from the business for personal use) but often not. This was at first a huge struggle for a new trainee, but with guidance from senior colleagues a...
Management Consultant │ Chartered Accountant │ Project Manager