The Good Bad Ugly 2020 Benchmarking Report is now available. CLICK HERE TO DOWNLOAD THE EXECUTIVE SUMMARY Some key statistics: The total revenue per partner is $1,072,065. An average staff salary is $77,893. Debtors are at 50 days. The average client group fee is...
Practice Management
What’s happening in the profession in relation to practice management
Offering advisory services? Why your first engagement needs to be a scoping session
by Ethan Cooney | Feb 9, 2021 | Business Services, Featured Articles, Financial Services, Practice Management
Before engaging your clients with new services, there are two crucial steps you can’t miss. Now more than ever, clients are looking to you as their trusted advisors to support them through challenging times. Rather than simply calling on you for compliance lodgments,...
Tree Change – In the Accountancy Profession
by Magnus Yoshikawa | Feb 9, 2021 | Business Services, Featured Articles, Financial Services, Practice Management
Current world circumstances have definitely made one rethink one’s values. Interestingly, coincidingly, we are seeing ‘tree change’ conversations increasing. There is this Practitioner (name removed for privacy reasons, but you know who you are) that of late, has left...
The Future of the Financial Reporting Function
by Danielle Nye | Feb 9, 2021 | Business Services, Featured Articles, Financial Services, Practice Management
Accounting firms are essential to businesses and not-for-profit organisations, particularly when managing one or more components of an entity’s financial operations. Most accounting firms, however, don’t have the skills to prepare statutory financial statements or the...
Setting Strategies – Peripheral Activities Are Important!
by Peter Towers | Feb 4, 2021 | Business Services, Featured Articles, Financial Services, Practice Management
Accountants who are responding to the challenge of proactively supplying a range of Business Advisory Services to clients should include on their list of duties a number of activities which may be referred to as “peripheral activities” but which, in many businesses,...
What to look for when engaging a mortgage broker to help your clients
by Steve Lake | Feb 1, 2021 | Business Services, Featured Articles, Financial Services, Practice Management
It’s a question I am often asked….how do we find the right mortgage broker for our business? It’s a question that invariably produces many more questions and points us back to the very first question - What are we looking to get out of having a relationship with a...
How to compare SMSF Auditors
by David Saul | Jan 28, 2021 | Business Services, Featured Articles, Financial Services, Practice Management
Choosing the best auditor for your firm Evaluating different SMSF auditors is not as simple as comparing apples with apples! With the deadline for ATO enforcement of the new Independence Code only months away, many Accounting firms are hastily reorganising their audit...