Turnover/profit for partnership.

Turnover/profit for partnership.

Didn't find your answer?

I'm coming ot this from a complete position of ignorance. I know the answers will vary considerably, but I have no idea what to expect so even ball park figures will be helpful.

I'm looking to build up a business with a friend. We'll both be ACMA and I'll also be ATT qualified. The intention will be that I will look after tax compliance/strategy and he will take care of the management accountancy side.

I know there are plenty of variables here, but just want to know what kind of earning potential this brings by working office hours. We both have large families, so working round the clock would not be an ideal option.

Any help info/advice greatly appreciated.

Thanks.
Robin Dunne

Replies (5)

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By robindunne
29th Jan 2009 10:47

mmmmm - maybe not a good idea to use this site.
"He is a CIMA finalist, works in practice. How can he not know such things as charge out rates, billable hours etc., unless he goes around with his eyes shut all the time.

This is the same man who thought he could call himself a "Chartered Accountant" with ACMA QUALIFICATION.

It would be different if he were not a professional (sic)."

Bit bizarre. I don't work in practise - never said that I did, hence my ignorance when it comes to charge out rates or billable hours. If I did work in practise and had an idea of the market then there would not be a reason for me to ask these questions.

I simply asked for advice on certain issues that I had no experience of, hoping that people in the know would help me out and allow me to make more informed decisions.

I get the feeling there is a certain amount of arrogance on here. I would have to question the profesisonalism of people who put words in my mouth and then jump down my throat because they have not read questions properly.

P.S. I simply asked if it was appropriate for an ACMA to refer to themselves as "Chartered"

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By User deleted
29th Jan 2009 16:57

I wouldnt give up Robin
It's such a shame that there are people who have such a high opinion of themselves that they feel the need to reply to messages when they have absolutely no advice to give.

But there are a lot of good people on here who do offer good advice, so stick with it and ignore the WUMs.

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By User deleted
29th Jan 2009 09:08

No Abuse - Common Sense
Kenny

He is a CIMA finalist, works in practice. How can he not know such things as charge out rates, billable hours etc., unless he goes around with his eyes shut all the time.

This is the same man who thought he could call himself a "Chartered Accountant" with ACMA QUALIFICATION.

It would be different if he were not a professional (sic).

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By User deleted
29th Jan 2009 01:52

abuse
It seems like a fair enough question to me Panda, I guess they are starting out and trying to get some idea of charge out rates and/or rate of getting new clients.

I'm not sure why you feel the need to jump in and insult people needlessly, it's totally uncalled for.

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By User deleted
28th Jan 2009 19:03

Cash Flow Projections
You must know how to do cash flow projections, if not then you are a prettty poor accountant. Do I really need to go on about this?

It all starts off with what your projected charge out rate is, how many hours are to be billed etc.,

You really are joking about this, aren't you?

At the end of the day it gets dark. Good accountants make money poor accountants do not..

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