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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
January 2014
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
How You Benefit From Your Accountant Putting You to Sleep -- Again!
Seamus Parfrey

 By Seamus Parfrey  

  

 

We all agree that we are not getting enough sleep.

 

In my younger days I was a great believer in cat napping at lunchtime for 15/20 minutes. It is now known as power napping.

 

I found that taking a timeout to sleep during the day gave a quick energy boost. Research now shows that it also has cognitive and health advantages.

 

Studies are showing that naps can restore our attention, the quality of our work, while also helping us reduce our mistakes. It also improves our ability to learn while on the job.

 

Power naps can alleviate our sleep deficit and boost our brains, including improve our creative problem solving, verbal memory, perceptual learning, object learning, and statistical learning. They also help us with maths, logical reasoning, our reaction times, and symbol recognition.

 

Naps improve our mood and feelings of sleepiness and fatigue. It is also good for our heart, blood pressure and stress levels.

 

A power nap happens during the day ideally between 1 and 4 PM and lasts between 10 and 30 minutes. Any longer and you run the risk of developing "sleep inertia" - the unpleasant groggy feeling that takes a considerable amount of time to shake off. 

 

[READ MORE]

Book Summary - Currencies That Buy Credibility

By Noel Murphy

 

Tom Wanek in his book "Currencies that buy Credibility" (2009) teaches the six currencies that you can invest in to purchase credibility in the market place to drive more traffic, sales and word of mouth business.

 

The 2008 Edelman Trust Barometer says "that most ads today lack believability" and that companies would be wise to pay more attention to fostering trust in advance with their customers as trust can serve as a catalyst for company growth.

 

Neurologists have discovered that humans are uniquely gifted to detect and respond to trust in other humans. We use these abilities to reduce uncertainty or avoid risk and the pain of loss.  This means your customer relies on the same abilities when making buying decisions.

 

So fostering trust goes a long way in persuading customers to buy from you.

 

Signalling theory indicates that the more you risk or spend the more believable your message becomes.

 

Wanek argues that, after years of research and observation, he has determined that credibility can be purchased by investing in one or more of six currencies.

 

The six currencies that buy credibility are:

 

Material Wealth

Warranties and guarantees are the most frequently used currencies risked in business today. They illustrate the power of risk reversal which occurs when the business reduces buyer uncertainty by assuming the financial risk of making the purchase.

 

Power guarantees are simple and specific. No fine print. No small print loopholes. No flaccid language.

 

Look at the Fedex and Domino Pizza on time delivery guarantee where if it is not always on time you don't pay a dime.

 

Our own accountancy guaranteed service is based on this currency. You can see it here.

 

In effect if you don't perform you don't get paid or you are financially penalised.

 

Time and Energy

Invest time and energy to arm visitors to your website with the expert knowledge that they require regarding the services you provide or the products you sell.

 

This free valuable information may from time to time lead a website visitor to deal with your competition but it will build trust and confidence in your company which will be of far more value in the long run.  Your content can do all the influencing and selling for you.

 

Opportunity

You can connect more credibly with your target customers by forfeiting opportunities in other areas.

 

[READ MORE]

 Powerpoint -- How to Keep Track of Time
Seamus Parfrey

 By Seamus Parfrey  

  

 

Would you like to see the time in the corner of every PowerPoint slide so that you don't have to check your watch during a presentation?

 

I came across this tip recently which you may find useful.


It varies slightly with different versions of PowerPoint, but the concepts are the same:

  • Click the Insert tab at the top
  • Click the "Text Box" in the middle
  • Click the place on the slide where you want the time to go
  • Click the Insert tab at the top again
  • Click the "Date & Time" in the middle
  • Choose one of the formats at the bottom
DEADLINES AND REMINDERS
Sinead Herlihy

Deadline - 14 February 2013

PAYE/PRSI
  • P30 monthly return and payment for January 2014
Deadline - 14 February 2014
DWT
  • Return and payment for January 2014

Deadline - 15 February 2014

PAYE/PRSI
  • P35 annual return for the year ended 31 December 2013.
Deadline - 23 February 2014
  • RCT - Return and payment for January 2014

Deadline - 21 February 2014

Corporation Tax

  • Preliminary Tax for accounting periods ending between 1 - 31 March 2014
  • First installment of preliminary tax for "Large Companies" with a financial year ending between 1 - 31 August 2014
  • Returns for accounting periods ending between 1 - 31 May 2013
  • Pay balance of tax due on accounting periods ending between 1 - 31 May 2013
  • Returns of third party information for accounting periods ending between 1 - 31 May 2013
Where returns and payments for RCT, PAYE/PRSI and Corporation Tax are made electronically the return and payment deadlines are the 23rd day of the month.
Parfrey Murphy
+353 (0)21 4310266
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