ASIC has released its inaugural integrated financial reporting and audit surveillance report, highlighting the need for improved disclosure of material business risks, impairment of assets, and revenue recognition in financial reports. Report summary The report, which...
Practice Management
What’s happening in the profession in relation to practice management
Is Your Firm Committed To Supplying Advisory Services?
by Peter Towers | Dec 10, 2018 | Practice Management
If so, have you claimed Crowd Sourced Funding Advisory Services as one of your specialities? If you have… congratulations, but not many accountancy firms have done this, at this stage. Would you be happy with this objective? “Your accountancy firm will have...
Why Cybersecurity Should be a Personal Responsibility
by Iain Enticott | Dec 10, 2018 | Practice Management
The Road to Security Starts with a Personal Obligation Whenever we receive phishing or unsolicited mails or are attacked by a malware, we are quick to blame everyone else, including our service provider and site administrators, but ourselves. Is it just their...
New revenue ideas for accounting firms in 2019
by Ed Hayes | Nov 28, 2018 | Practice Management
As the cost of doing business rises and AI and increasingly complex data systems remove much of the manual work associated with filing taxes, accountants are finding their profits dwindling. Many firms consider lower prices as a means of staying competitive, eroding...
2018 M&A Accounting Sector Report
by Dale Crosby | Nov 15, 2018 | Featured Articles, Practice Management
Mergers and Acquisitions (M&A) remain the most popular method of corporate growth within the accounting and financial advisory sectors despite challenges. Reasons for undertaking a merger or acquisition include: An increase in revenue, profit and value of the firm...
They’re Reliable, They’re High Margin!
by Peter Towers | Nov 13, 2018 | Financial Services, Practice Management
They’re reliable, they’re high margin, they usually pay on time and, they always need your advice. I’m talking about your medium-sized business clients. For many accountants, these are the 20% of your clients, who provide 80% of your turnover and these are the...
Decoding Accounts Payable and Accounts Receivable
by AdamSchell | Nov 11, 2018 | Practice Management
Decoding Accounts Payable and Accounts Receivable This article is not for you, but for you to share! When you are using accounting terms every day, it’s easy to forget that some people, such as clients, have no idea what we’re talking about. It’s that glassy-eyed look...