I sympathise with anyone who has an ethical dilemma. Many years ago, I had a difficulty and I got good guidance and moral support from my professional body. I hope you do too.
It is unlikely but there is a possibility that the group people are aware of the MD's activities but are prepared to turn a blind eye because of his key role in the business.
In addition to WhichTyler's advice, I would add the question: What is the group policy on approving the MD's expenses? From my experience in a large group, every person's expense claims were approved by someone higher up, sometimes by a person in a group office elsewhere. It is easy to say that you are uncomfortable approving your superior's expenses from an internal control point of view, without necessarily disclosing all of the details. Someone higher up should either spot what is going on or decide to send someone to do an internal audit.
Good luck. This is an occupational hazard in our profession, alas.
I'm not sure if QuickBooks Online can handle it but QuickBooks desktop has/had a feature that would work. You can classify all costs and revenues to a "Class" and if you set up each project as a class, you can require the input of a class for every transaction. It might be worth looking at that.
I need to prepare a schedule of budgeted payments to creditors for the period of January-June.
Below are the budgeted purchases for January to April.
Maybe you should consult your text book or ask your teacher?
Yes, worth exploring. In Ireland, there are many Irish companies reporting in other currencies, mainly USD. Tax returns etc may still need to be in the local currency.
My guess is that the cash has originated from deposits and not from profits. Maybe the provisions relate to deferred revenue?
(And yes, find a competent accountant.)
There clearly needs to be a referendum on this -
* Remain (at 5th April)
* Leave (the 5th April) with options -
a) 31st March
b) 31st December
c) Other date
That should do the trick.
Anyone for "Leave without a date"?
Ireland too had its tax year end at 5th April until 2001. At that point, we changed to 31 December which meant that we had a short tax year at the changeover. (I have reason to believe that the transitional arrangements for income tax payers left scope for reduced tax bills if the timing of income could be controlled, but that was never highlighted.) From 2002 onwards, the tax year has been 1 January to 31 December and that works well.
I'm just a random member of this forum. Do you think it is reasonable to come on here to ask random strangers to assist you, out of the goodness of their hearts, and to then deride a person who has given you correct information?
In my opinion, it is rather rude to respond with "I think someone got out of bed the wrong side this morning". Do you think people will help you out again? You are looking for, and getting, free information from people who normally sell their time. I suggest you acknowledge that.
I fully agree with this. Reminds me of a customer who had negotiated a 4% settlement discount for payment earlier than the usual terms. Stopped paying early for the 4% and paid to normal terms. Then went bust. So worth looking at their current status.
Why all the question marks?