Every accountant knows that audits or reviews of your client’s tax returns, or financial compliance obligations can sometimes be unavoidable. When an audit hits, this is rarely a reflection of the work put into preparing the return and is more often due to a specific...
Financial Services
Financial advice including wealth creation, insurance and lending services
Product Mix and Mark-ups Affect A Retailer’s Profitability
by Peter Towers | Dec 2, 2020 | Business Services, Client Management, Featured Articles, Financial Services
A fairly common problem that I’m sure retailers have discussed with you, as their accountant, is “Why, if we’re selling so much product, aren’t we making a profit?” Sound familiar? My suggestion on your response to your client is as follows: To answer this question we...
Helping your team to work from home: 5 tips & tricks to use technology to your advantage
by Brad Geelan | Dec 1, 2020 | Financial Services, Practice Management, Team Leadership, Technology
It’s been a year of learning, change, and adaptation; particularly for how we run our businesses. For many, it’s been the first time we’ve had to work remotely for more than a day or two, quickly re-jigging processes and systems to enable entire teams to keep things...
What does 2021 have in store for ATO audit activity?
by For Accountants | Nov 26, 2020 | Business Services, Client Management, Financial Services, Workflow Management
Much of the world has experienced some sort of shutdown this year, with governments implementing financial support strategies to keep their economies from slipping into a recession amid the COVID-19 pandemic. Australia was no exception, with support packages such as...
Why your Auditor can’t be in your pocket!
by David Saul | Nov 25, 2020 | Business Services, Client Management, Financial Services, Practice Management, Workflow Management
The new APES 110 Code of Ethics for Professional Accountants has many ramifications for SMSF trustees... and Accountants have an obligation to notify clients of changes that may affect their audits. Under the new code, accounting firms providing administration for...
Why aren’t they generating referrals?
by Steve Lake | Nov 23, 2020 | Featured Articles, Financial Services, Practice Management
It should be simple shouldn’t it? Easy in fact! You and your team are highly skilled accountants adept at saving your clients thousands each year on tax. You troll through their income and expenses and assets and come to a number that saves them on their taxes. Past,...
Why does an accounting firm need an office?
by Rob Pillans | Nov 19, 2020 | Featured Articles, Financial Services, Practice Management, Team Leadership, Workflow Management
A few of my clients have recently commented that as a result of the pandemic they are thinking about their office space differently. It was also one of the topics I talked about in a vodcast I produced (See it here here. ) One firm owner in one of my groups noted that...