Discover how accounting firms are tackling the skills shortage head on: It’s no secret that the accounting industry is facing a significant skills shortage. This is impacting the ability to service existing clients, maintain compliance and achieve meaningful growth....
Practice Management
What’s happening in the profession in relation to practice management
Are you comfortable with your firm’s vision?
by Peter Towers | Jun 13, 2018 | Practice Management
This is a serious question, especially if you are aged under 44, because, according to Benchmarking.com.au, your group represents 69% of the accountancy profession. Do you understand your firm’s vision? Are you comfortable with it? Is your firm’s vision going to...
Rise of the solopreneur accountant
by Dale Crosby | May 31, 2018 | Practice Management
Digital disruption and increasing price pressure for compliance work within the accounting sector has resulted in an increase in the number of mergers and acquisitions in recent years. Many sole practitioner firms experiencing static or declining profit are electing...
Accounting firm M&A activity on the rise
by Magnus Yoshikawa | May 31, 2018 | Practice Management
ACCOUNTING FIRMS THAT REFUSED TO SUCCUMB TO THE ALLURE OF FINANCIAL PLANNING HAVE NEVER LOOKED BETTER. Nothing reinforces the value of a good accountant quite like a federal budget. Morrison’s announcement last week contained no less than 33 tax changes ranging from...
It’s time for a new business model for accountants…
by Rachelle Weingot | May 30, 2018 | Practice Management
Outsourcing expert and business development manager for Connect Outsourcing Rachelle Weingott weighs in on the challenges facing the accounting industry today. As an outsourcing expert I spend most of my time speaking to owners of accounting firms about what they are...
4 Strategies for Effectively Managing Work in Progress
by Brad Geelan | May 15, 2018 | Practice Management
A healthy cash flow can be traced back not just to a single aspect of business management. Effectively managing work in progress is a key factor in ensuring your firm is paid for its services. This article will focus on four key actions your firm can take to better...
Single Touch Payroll – a good solution to this problem
by Mike Rich | May 6, 2018 | Practice Management
A staggering 75% of businesses are saying they aren’t ready for Single Touch Payroll (STP) – and it starts 1 July for all those with 20 or more employees. They are probably amongst your best clients yet only 5% say an advisor has raised STP with them. The ATO has just...