Turnover represents amounts chargeable to clients for professional services provided duing the year, inclusive of direct expenses incurred on client assignments but excluding value added tax.  Turnover is recognised when a right to consideration has been obtained through performance under each contract. Consideration accrues as contract activity progresses by reference to the value of the work performed. Where work is substantially completed it has been valued at net realisable value including an estimate of attributable profit.

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Work in progress is stated at the lower of cost and net realisable value.  Cost includes employees remuneration costs and an appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling price less further cost expected to be incurred to completion.