The Training Place of Excellence

Happy 'World Teacher's Day'!

A big THANK YOU to our all of our teachers around the country.

“Every great achiever was inspired by a teacher.”

A big thank you to Marina Ahmad AM for visiting our centre and speaking to the learners about her role on the London Assembly and the importance of using your voice for change!

Have a go at a question on the extended trial balance by reading our latest blog!

The Extended Trial Balance - The Training Place Blog Can you complete the extended trial balance below? Pay close attention to the adjustments! AAT Level 3 | The Training Place

Congratulations to Oscar, who scored 100% on his AAT Level 2 EPA interview!

Well done Oscar!

Read our latest blog post on irrecoverable debt:

Irrecoverable Debt - The Training Place Blog Many businesses sell their goods and services on credit and this gives rise to the riskof one or more customers not paying after they have received the goods or services.This may not be a regular occurrence in businesses, but where the goods or servicesof a business are offered to its clients on cre...

Read our latest blog post on the de minimis limit:

De Minimis Limit - The Training Place Blog A business cannot normally recover input tax on VAT exempt supplies. However, if the exemptinput tax is below the de minimis limits it can be treated as fully taxable and so, the full input taxon exempt supplies can be reclaimed. Where the exempt input tax is insignificant it can be treated as if it...

Read our latest blog on payback periods:

Payback Period - The Training Place Blog The payback period is the length of time it takes to recover the amount of cash inflow investedinto a capital project. It is the time it takes the cash inflows from a capital investment project toequal the initial cash outlay. It is usually expressed in years. It is a way of assessing the viability....

Think you know the difference between capital and revenue expenditure? Test yourself with our latest blog!

Capital vs Revenue Expenditure - The Training Place Blog Capital expenditure occurs when a business spends money in purchasing non-current assets for the business operations or when it spends money in adding value or improving an existing non-current asset. This will include delivery and legal costs in acquiring the non-current assets. Non-current assets....

Read the final blog in our series on labour costs!

Labour Costs - Bonus Schemes - The Training Place Blog A bonus payment is an extra payment made to an employee as a reward. The basicprinciple of a bonus payment is that the employee is rewarded for any additionalincome generated or savings in cost to the organisation. Bonuses may be paid to employees for a variety of reasons. An individual employee, ad...

Read the continuation of our labour costs blog series!

Labour Costs - Piece Rate with Guarantee - The Training Place Blog This gives the employee some security if the employer does not provide enough workin a particular period. The way that system works is that if an employee’s earnings forthe amount of units produced in the period are lower than the guaranteed amount thenthe guaranteed amount will be paid to the emp...

Test yourself on output related pay with our latest blog!

Labour Costs - Output Related Pay - The Training Place Blog This is also known as payment by results or piecework. This is a direct alternative totime related pay. Employees paid under an output related pay method are paid a fixedamount per unit of output achieved, irrespective of the time spent in production. As far as an employee is concerned, payment by r...

Learn all about overtime premium in our new blog post:

Labour Costs - Overtime Premium - The Training Place Blog This is the amount over and above the normal hourly rate that employees are paid forovertime hours worked. It is common to be paid an enhanced rate for any overtimehours worked, for example, an individual may be paid £20 per hour and any overtimehours worked can be paid at time and a half rate, thi...