Fundamental Accounting

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

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Business services that meet the mark

At McGinness Associates we have developed our range of services over the years to meet the specific needs and requirements of our growing customer base.

Providing detailed advice to directors whose firms are struggling financially.

For companies with cash flow problems…

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An insight to Payment Protection Insurance (PPI)

PPI was a product associated with loans, credit cards, car finance, charge cards and mortgages. It was used to protect consumers against missing monthly payments in the event they had an accident, became sick or were made redundant through no fault of your own. Most PPI policies had a ‘cooling off’ period and this kicked in after a period of 28 days. The cooling off period allowed consumers to cancel their policy. PPI policies were usually active throughout the time of the loan, only.

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