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Parfrey Murphy
Chartered Accountants
Lee View House
South Terrace
Cork
Ireland

T: +353 (0)21 4310266
E: pm@parfreymurphy.ie
E-Newsletter
September 2013
Our aim is to help our clients increase their profitability, improve their cash flow and reduce their tax liabilities so that they have more disposable income. Please feel free to call us on  021 4310266 or email us at pm@parfreymurphy.ie if you wish to do business with us

When Seth Godin Speaks I Listen!!

Seamus Parfrey

By Seamus Parfrey

 

Seth Godin publishes a daily post on his blog which can be insightful and thought provoking. The following post is relevant for all businesses.

 

Unreasonable clients

 

Who gets your best work?

 

If you reserve your best effort for the irritable boss, the never-pleased client and the bully of a customer, then you've bought into a system that rewards the very people who are driving you nuts. It's no wonder you have clients like that--they get your best work.

 

On the other hand, when you make it clear (and then deliver) on the promise that your best work goes to those that are clear, respectful and patient, you become a specialist in having customers just like that.

 

One of the largest turning points of my career was firing the client who accounted for a third of my company's work. We were becoming really good at tolerating the stress that came from this engagement, and it became clear to me that we were about to sign up for a lifetime of clients like that.

 

Set free to work for those that we believed deserved our best work, we replaced the lost business in less than six months.

 

Years ago, I heard the story of a large retail financial services company that did the math and discovered that fewer than 5% of their customers were accounting for more than 80% of their customer service calls--and less than 1% of their profit. They sent these customers a nice note, let them know that they wouldn't be able to service them properly going forward, and offered to help them transfer their accounts to a competitor. With the time freed up, they could then have their customer service people double down on the customers that actually mattered to them... grease, but without the squeaky wheel part.

 

No, you can't always fire those that are imperious or bullies. 

 

{READ MORE}

 

PRODUCTIVITY TIPS

By Noel Murphy

 

 

The following tips might help you improve your daily productivity. If you have any suggestions please forward them to us for inclusion here.

  • Get up early. Early risers tend to have a more proactive and productive mind set. 
  • List tasks. Decide what your more important tasks are and do them first.
  • Batch tasks. If you batch tasks of a similar type together you can complete them quicker and more efficiently. Every time the brain switches tasks it can take up to twenty five minutes to get up to speed.
  • Planning meetings. Batch meetings together if you can and keep some days meeting free. Hold meetings when you have low energy.

 


 

Use Less Jargon Please

Seamus Parfrey

 By Seamus Parfrey  

  

 

  

  

We all use jargon. Phrases that over-complicate the simple. Phrases that are designed to impress but only confuse. Hopefully you will find the following jargon dictionary useful:

 

                                      

                 

                                            

                                             

Delegate    
Pass the buck
Delayed         
Forgotten
Urgency  
Panic
Extreme urgency  
Blind panic
Frank and open discussion
Flaming row
Analytical projection  
Guess
Forecast 
Guess
Long-range forecast   
Wild guess
Scheduled 
Hoped for

 

 {READ MORE}

 

A Few More Jokes

By Noel Murphy

 

Joke 1.

 

A Martian lands to plunder, pillage and burn. He goes up to the owner of the first house he sees and says, "I'm a Martian just arrived from the other side of the galaxy. We're here to destroy your civilisation, pillage and burn. What do you think about that?"

 

The owner replies, "I don't have an opinion. I'm a chartered accountant."

 

 

Joke 2.

 

An accountant is talking to the young child of one of his friends and says, "Do you know what I do?'

 

"Daddy says you're a CPA."

 

"That's right.  Did he tell you what CPA stands for?"

 

"Well, he says you're a complete pain in the arse."

 

 

Joke 3.

 

There once was a business owner who was interviewing people for a divisional manager position. He decided to select the individual that could answer the question "how much is 2+2?". 

 

{READ MORE}

DEADLINES AND REMINDERS
Sinead Herlihy
Deadline - 14 October 2013
  • DWT - Return and payment for September 2013
Deadline - 14 October 2013
PAYE/PRSI
  • P30 monthly return and payment for September 2013
  • P30 quarterly return and payment for July - September 2013
Deadline - 23 October 2013
  • RCT - Return and payment for September 2013.
  • Quarterly return and payment for period July - September 2013

Deadline - 21 October 2013

Corporation Tax

  • Preliminary Tax for accounting periods ending between 1 - 30 November 2013
  • First installment of preliminary tax for "Large Companies" with a financial year ending between 1 - 30 April 2014
  • Returns for accounting periods ending between 1 - 31 January 2013
  • Pay balance of tax due on accounting periods ending between 1 - 31 January 2013
  • Returns of third party information for accounting periods ending between 1 - 31 January 2013
Deadline - 31 October 2013 
Income Tax
  • Return of Income 2012
  • Pay balance of 2012 income tax liability
  • Preliminary Tax 2013
Deadline - 31 October 2013 
Capital Gains Tax
  • Return of Capital Gains for 2012
Where returns and payments for RCT, PAYE/PRSI, VAT and Corporation Tax are made electronically the return and payment deadlines are being extended to the 23rd day of the month.

 

Parfrey Murphy
+353 (0)21 4310266
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