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🌟 Fun Fact Alert! 🌟 Did you know that the roots of modern accounting stretch back to the early 15th century, thanks to the genius of Luca Pacioli, the revered 'Father of Accounting and Bookkeeping'? 📚 In 1494, Pacioli published 'Summa de Arithmetica, Geometria, Proportioni et Proportionalita,' a comprehensive book that, among other things, detailed the method of double-entry bookkeeping. This groundbreaking system revolutionized the way merchants, especially in Venice, managed their finances by introducing a more accurate method for tracking their business transactions. 🛤️ Pacioli's innovative approach allowed for a clearer financial picture, enabling merchants to understand their profit and loss, assets, and liabilities more transparently. This was not just a leap in accounting practices but a monumental shift in how businesses could grow, assess risks, and make more strategic decisions. 📈 The principles laid out by Pacioli have endured the test of time, forming the backbone of contemporary accounting practices and continuing to support the success and sustainability of small businesses around the globe. 🌍 This historical insight not only highlights the profound impact of Pacioli's work on the world of commerce but also celebrates the enduring legacy of double-entry bookkeeping as a pivotal tool in the financial management and success of businesses through the ages. 💼📖 Let's take a moment to appreciate how a concept from the Renaissance still plays a crucial role in our financial world today, proving that good ideas truly are timeless. #HistoryOfAccounting #LucaPacioli #DoubleEntryBookkeeping #SmallBusinessSuccess #FinancialInnovation #RenaissanceInnovations #BusinessGrowth #StrategicDecisions #ProfitAndLoss #AccountingPractices

🌟 Fun Fact Alert! 🌟 Did you know that the roots of modern accounting stretch back to the early 15th century, thanks to the genius of Luca Pacioli, the revered 'Father of Accounting and Bookkeeping'? 📚 In 1494, Pacioli published 'Summa de Arithmetica, Geometria, Proportioni et Proportionalita,' a comprehensive book that, among other things, detailed the method of double-entry bookkeeping. This groundbreaking system revolutionized the way merchants, especially in Venice, managed their finances by introducing a more accurate method for tracking their business transactions. 🛤️ Pacioli's innovative approach allowed for a clearer financial picture, enabling merchants to understand their profit and loss, assets, and liabilities more transparently. This was not just a leap in accounting practices but a monumental shift in how businesses could grow, assess risks, and make more strategic decisions. 📈 The principles laid out by Pacioli have endured the test of time, forming the backbone of contemporary accounting practices and continuing to support the success and sustainability of small businesses around the globe. 🌍 This historical insight not only highlights the profound impact of Pacioli's work on the world of commerce but also celebrates the enduring legacy of double-entry bookkeeping as a pivotal tool in the financial management and success of businesses through the ages. 💼📖 Let's take a moment to appreciate how a concept from the Renaissance still plays a crucial role in our financial world today, proving that good ideas truly are timeless. #HistoryOfAccounting #LucaPacioli #DoubleEntryBookkeeping #SmallBusinessSuccess #FinancialInnovation #RenaissanceInnovations #BusinessGrowth #StrategicDecisions #ProfitAndLoss #AccountingPractices

Delving into the annals of accounting history, we discover the roots of modern financial organization. Luca Pacioli, the 'Father of Accounting,' gifted the world with the system of double-entry bookkeeping back in the 15th century—a method that revolutionized how businesses track their finances. This historical tidbit is a nod to the legacy that shapes our services today. At Adventum, we honor this tradition of excellence, continually evolving to meet the complexities of contemporary finance. #Adventum #bookkeepingservices #businessadvisory #financialmanagement #businessmanagement #didyouknow #accounting

Starting a business often means beginning with essential bookkeeping and accounting services. But as your business evolves, relying solely on these basic services not only leaves money on the table, but also severely limits your potential for increased profitability and growth. As Chief Brody says in Jaws, “You’re going to need a bigger boat.” Get in touch now to learn more

Just a quick update to say, we're seeing an exponential increase in HMRC Debt Management action. Through from the regular enforcement teams to the Large Debt Team, and then insolvency/winding-up action being commenced. As a firm, we don't work on too many of these cases usually, save for negotiating Time to Pay arrangements for businesses and entrepreneurs, but there has definitely been a huge uptick in debt collection activities from HMRC; as promised it seems. Don't hesitate to make contact if we can be of assistance in this regard, or of course, in relation to HMRC / tax investigations (https://lnkd.in/eK5dnSwq) into entrepreneurs, large business enquiries (https://lnkd.in/eNF8dgKf) and tax disclosures (https://lnkd.in/e5pvQkRQ). #hmrc #accounting #accountingandaccountants Pure Tax pure-tax.com

Another example of the exponential increase in debt collection (and management) action going on out there. There have never been so many requests for help with HMRC - trying to secure Time to Pay (TTP) arrangements! Thanks Sara White / Croner-i Ex-footballer John Barnes banned over £190k tax debts. Former England and Liverpool footballer, has been disqualified as a director after failing to pay VAT and corporation tax. "Insolvency Service investigations began after the footballer’s John Barnes Media Limited company went into liquidation in April 2023 after an HMRC winding up petition. "Investigators revealed that between 2018 and 2020, the 60-year-old’s company failed to pay more than £190,000 in corporation tax and VAT, with HMRC its only known creditor when it ceased trading. "Barnes, whose business was based in Byfleet in Surrey, has been banned from acting as a director for three and a half years. Between November 2018 and October 2020, the company’s turnover was £441,798. "Nothing was paid to HMRC in tax during that period, despite the company filing returns showing what the VAT payments should have been. "The Insolvency Service’s investigation showed that John Barnes Media failed to pay £78,839 in corporation tax between August 2018 and January 2020, when the company ceased trading. The company also failed to pay £115,272 in VAT between February 2019 and 2020. "Mike Smith, Chief Investigator at the Insolvency Service, said: ‘John Barnes had a legal duty to ensure his company paid the correct amount of corporation tax and VAT. Instead, it paid no tax whatsoever between November 2018 and October 2020, despite receiving earnings of well over £400,000." ‘This disqualification should serve as a deterrent to other directors that if you do not pay your taxes while directing money elsewhere, you are at risk of being banned.’ Pure Tax Pure-Tax.com #HMRC #accounting #accountingandaccountants

If you own/run a family business, know someone who does or, indeed, work with family businesses this may be the book for you. Written by one of our fabulous clients, Paul always speaks a lot of sense and certainly has an enviable track record in running a family business as well as supporting his clients - many of whom are also family businesses. I've pre-ordered my copy and hope you'll be able to support Paul too by either pre-ordering a copy or liking/sharing this post... or both! x #FamilyBusiness #AwardWinning #Awards #BusinessAwards #BusinessBooks #BusinessAuthor

Did you know? The concept of double-entry bookkeeping, the foundation of modern accounting, dates back to the 13th century 📈 Originating in the Italian city-states like Genoa, Florence, and Venice, this revolutionary method was popularised by Luca Pacioli in 1494, earning him the title 'Father of Accounting.' With this system, every financial transaction impacts at least two accounts, ensuring a detailed and balanced ledger. This ancient practice not only shaped the financial world but also laid the groundwork for the complex economic systems we navigate today. #TurasAccountants #FactAboutAccounting #AccountingEvolution

Did you know? The concept of double-entry bookkeeping, the foundation of modern accounting, dates back to the 13th century 📈 Originating in the Italian city-states like Genoa, Florence, and Venice, this revolutionary method was popularised by Luca Pacioli in 1494, earning him the title 'Father of Accounting.' With this system, every financial transaction impacts at least two accounts, ensuring a detailed and balanced ledger. This ancient practice not only shaped the financial world but also laid the groundwork for the complex economic systems we navigate today. #TurasAccountants #FactAboutAccounting #AccountingEvolution

Are you maximizing your earnings as a bookkeeper? Learn from Lynda Artesani, founder of Artesani Accounting and The Proper Trust, as she unveils strategies for adopting premium pricing in our latest blog. With over 25 years of experience, she explores overcoming pricing fears and positioning yourself as a high-value expert. Explore more: https://intuit.me/3A9u0Er