Business Advisory Services - An Opportunity to Add Value to Your Clients!
Accountant's Minute 238
Welcome to the New Financial Year on Wednesday!
“Accountants Become the 'Centrelink' of Business World” – Financial Review.
“The accountant of the future will need to be a compliance expert who can grapple with fast changing rules while providing broader advice to clients about their business” – Financial Review 18th June 2020.
“Number crunchers around the country have found themselves working extended hours to understand and then apply, the broad range of State and Federal measures such as JobKeeper which were introduced in quick succession as the country went into lockdown".
“Savvy accountants have also used this as an opportunity to shift gears and provide clients with wide ranging business advisory help to navigate the crisis, with the ability to communicate now as important as technical nous”.
“The upshot is that accountants will continue to feel pressured to develop consulting skills to understand and deal with their clients' biggest business issues beyond basic compliance”.
These extracts from the “Financial Review” on 18th June 2020 highlight the challenge and the opportunity confronting accountants as we commence a new financial year. There is no doubt that many accountants have been offering a wider range of professional services over the last 4 months. Now is an opportune time to be able to rewrite the terms of engagement with your clients and from now on to be able to provide a broader range of “Business Advisory Services” incorporating a Chief Financial Officer service.
In this week’s “COVID-19 Survival Panel" webinar Mark Holton, Director, Smithink Pty Ltd, will discuss the issues relating to “Business Advisory in the Post COVID-19 Accounting Industry”.
Mark, a successful practising accountant from the Central Coast, has utilised his knowledge from operating an accountancy firm with his broad interest in the supply of business advisory services to being a very successful presenter at conferences, seminars and in-house training relating to “Business Advisory Services” for accountants in Australia, New Zealand, USA, Canada and the United Kingdom.
Mark has developed a detailed knowledge of the challenges confronting accountancy firms from the very beginning of an interest in “Business Advisory Services” to the training of the accountancy team, selection of services to be offered and the delivery of value adding services for individual clients.
The second presenter on Friday, 3rd July 2020 is Dale Crosby, Director, For Accountants. Dale will discuss the development of services by accountancy firms so that they can offer “Chief Financial Officer services” to small business and medium-sized enterprise clients.
You can register for the free webinar on Friday, 3rd July 2020 at 12-noon AEST by clicking here.
In last week’s webinar Paul Barnaby, Predictive Accountant and the Australasian Representative for PlanGuru, outlined the necessity for accountants to be closely involved with their SME clients in the preparation of three-way financial forecasts. Paul stressed the vital role that accountants can play in identifying financial “hotspots” that the client may need to attempt to apply for additional finance to rectify or to seek to raise equity capital.
Arthur Acker, Operations Manager, Equitise Pty Ltd a “Crowd Sourced Funding Intermediary” gave an interesting overview of the opportunities that businesses have to be able to raise capital direct from the public utilising “Crowd Sourced Funding”.
Arthur discussed the key issues in an address titled “Democratising Investing”.
In his presentation, Arthur commented on the role that accountants can play to assist small businesses and medium-sized enterprises achieve “crowd sourced funding readiness” so that they are in the best possible position to be able to raise capital.
You can view last week’s webinar recording by clicking here.
Want to know more about the presentations that were made in last week’s webinar? If so, please click on to “Want to Know More” where you can view the PowerPoint slides that were utilised by Paul Barnaby and Arthur Acker.
Would you like to know more about the services provided by ESS BIZTOOLS to assist accountants to get started in the development of a “Business Advisory Services” section within your accountancy firm? We invite you to register for a free no obligation 30 day trial of ESS BIZTOOLS by clicking here.
If you'd prefer an exclusive webinar presentation on the challenges confronting accountants relative to Business Advisory Services and how you could get started on delivering services to your clients, please contact us for a free webinar booking for you and your colleagues whereby you will be able to ask questions about the various services packages included within ESS BIZTOOLS.
You can also obtain additional information by going to ESS BIZTOOLS' website è Survival In Difficult Times è Learn More.
A reminder…. ESS BIZTOOLS and our Affiliates are presenting this special webinars series “COVID-19 Survival Panel” each Friday at 12-noon AEST until 30th September 2020. If you'd like to register in advance for upcoming webinars please click here.
If you'd like to view the recordings for the past eleven webinars - (click here).
We look forward to hearing from you relative to the free no obligation 30 day trial of ESS BIZTOOLS or booking a free no obligation webinar to discuss the challenges of offering business advisory services and how you could utilise the products developed by ESS BIZTOOLS.
If you would like to contact us about any aspect of ESS BIZTOOLS' or ESS BIZGRANTS' products and services, please do not hesitate to contact us:
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Stay safe!
Have a great day!
