As an accounting firm coach, mentor and consultant I consume content from Australia and around the world to keep up with developments affecting the profession. I was listening to a podcast from the USA recently and on it the host was interviewing the “Chief Metaverse...
Practice Management
What’s happening in the profession in relation to practice management
Recent Observations in Audit Activity
by For Accountants | May 4, 2013 | Practice Management
Claims for BAS reviews once again dominated the overall audit activity that Accountancy Insurance witnessed so far in 2013. The overwhelming number of claims came from BAS reviews, across all states as well as nationally in Australia, which follows the trend in recent...
CommSec’s State of the States report
by For Accountants | May 4, 2013 | Practice Management
How are Australia’s states and territories performing? Each quarter CommSec Chief Economist Craig James attempts to find out by analysing eight key indicators: economic growth; retail spending; equipment investment; unemployment, construction work done; population...
Survival Of The Unfittest
by For Accountants | Apr 3, 2013 | Practice Management
There has been a great deal of publicity about recent amendments to the Tax Act which considerably lifts the burden on directors of companies in relation to their obligations to remit to the Australia Taxation Office the PAYG and Superannuation deducted from...
Thinking Fast And Slow
by For Accountants | Apr 2, 2013 | Practice Management
Here is a very simple puzzle for you. It’s so simple the answer will probably just spring to mind. A bat and ball cost $1.10. The bat costs one dollar more than the ball. How much does the ball cost? It is quite likely that your intuitive response was that the ball...
The Construction Of Financial Statements – Process
by For Accountants | Apr 2, 2013 | Practice Management
The construction of financial statements does not have to be the onerous task that many people dread. By taking a ‘scientific’ approach and breaking it down into a series of steps, the process can be quite easily managed. Or at least that is the view of Michael...
Duties of a Chief Financial Officer – How do they relate to SMEs
by For Accountants | Mar 3, 2013 | Practice Management
It is enlightening to consider the duties of a Chief Financial Officer (CFO) in a large business. Many of the components of a large organisation's CFO services are also required by SMEs. Whilst it is acknowledged that an SME does not require a...