Business Advisory Services Introduction

This is a direct quote from the Federal Treasurer, Josh Frydenberg, in his budget presentation to the House of Representatives on 11th May 2021. It is an appropriate description of what many of us are hoping will occur in Australia over the next 12 months. Australian government budget: A lot of money has been invested by the government to “kick-start” a whole range of activities,...

Tags: CommBank Accounting Market Pulse Report | Federal Budget
The “CommBank Accounting Market Pulse Report” released a few days ago has identified that a survey of accountants all over Australia has identified that the highest rating product that they are planning to offer, or significantly grow, in the next 12 – 18 months is “Business Advisory Services”. In the survey 81% of “leading firms” and 67% of “lagging firms” identified...

Tags: Australian Government Guaranteed Loans | CommBank Accounting Market Pulse Report | Practice Power Up 2021 | Research & Development Tax Incentive Rebate
Mark Holton, an Accountancy Industry Consultant and Director of Smithink Pty Ltd, discussed with Peter Towers, Managing Director, ESS BIZTOOLS the opportunities that accountants have to differentiate their firms by proactively advising clients on research and development opportunities and the taxation benefits that they can obtain from the proper implementation of a research and development...

Tags: Accelerating Commercialisation | Early Stage Innovation Company | Research & Development Incentive Rebate
Are companies giving sufficient priority to determining return on investment as part of the decision as to whether to proceed with a research and development project?  This will be the theme for the conversation between Peter Towers, Managing Director, ESS BIZTOOLS and Peter Milla, Managing Director, Business Tree Pty Ltd, an experienced innovation consultant, in the ESS BIZTOOLS’...

Tags: Assignment of Intellectual Property Agreements | Australian Government's 50% Guaranteed Loan | Brad Smart's Tip of the Week | Business Tree Pty Ltd | Confidentiality Agreements | Government's Post JobKeeper Announcements | JobKeeper Support Program | Research & Development | Selling the Message
“Some of the red-tape binding together the Federal government’s Research and Development Tax Incentive (RDTI) scheme is enough to make your head spin. As a concept, these tax incentives are great; no one’s disputing that. However, while the RDTI can make the costs of creating local innovations a lot less painful, the maze involved in even getting to the starting gate of a claim, is...

Tags: RDTI | Research & Development Incentive Rebate
In the ESS BIZTOOLS’ Business Advisory Services Webinar/Conversation on Wednesday 10th March 2021, Peter Towers, Managing Director, ESS BIZTOOLS will discuss with Priscilla Bea Smith, Director, Cloud Nine Associates some of the important issues on which small business and medium-sized enterprise owners and CEOs are seeking advice: Preparation of Budgets and Cashflow Forecasts for the next...

Tags: Australian Government 50% Guaranteed Loans | Budgets | Capital Raising under Section 708 of Corporations Act | Cashflow Forecasts | Crowd Sourced Funding Equity Raising | Early Stage Innovation Company Capital Raising | Key Drivers | PlanGuru | Predictive Accounting | Projected Balance Sheets | Research & Development
Many businesses are facing an uncertain economic future and will be looking to their accountants/business advisors/bookkeepers to give them advice as to what the future holds for them.  The key to this advice is for accountants to have the confidence and ability to offer “Predictive Accounting Services” so that their clients have an awareness of the financial implications of the...

Tags: Key Performance Indicators | PlanGuru | Predictive Accounting | Research and Development | Selling the Message | SME Needs' Analysis | Succession Planning
There is a range of services beyond taxation, that smaller accountancy firms can provide to their SME clients, to assist those businesses to grow and add value. Amanda Gascoigne, an experienced Consultant to smaller accountancy firms, together with Peter Towers, Managing Director, ESS BIZTOOLS are the presenters of the ESS BIZTOOLS’ Business Advisory Services Update Webinar/Conversation on...

Tags: Accelerating Commercialisation Grant | Gateway Test | Principles' Test | Research & Development Incentive Rebate | Selling the Message
In our last Business Advisory Services Webinars/Conversation for 2020 Peter Towers, Managing Director, ESS BIZTOOLS and Paul Barnaby, Managing Director, Beyond Accounting Technologies and Australasian Representative of PlanGuru, discussed the concept that ‘Predictive Accounting’ will be vital in the planning to help clients in 2021. The key aim is to “know the financial impact of...

Tags: Budget | Cashflow Forecast | Predictive Accounting | Profit & Loss Account | Projected Balance Sheet
Knowing the financial impact of decisions before a client implements them is very important for financial stability.  This process is generally known as “Predictive Accounting”. The process commences with an examination of the key drivers relative to the physical number of units to be produced and the calculation of the direct costs that will be involved in that process.  The...

Tags: Budgets | Cashflow Forecasts | Predictive Accounting
Despite COVID-19 Coronavirus and all of its associated problems Crowd Sourced Funding continued to grow in Australia during 2020 and the Joint Founder and Managing Director of Birchal Pty Ltd, one of Australia’s leading Crowd Sourced Funding Intermediaries, Matt Vitale, expects 2021 to be a “bumper year” for the capital raising market centred on small businesses and medium-sized...

Tags: Birchal Pty Ltd | Budgets | Business Plan | Cashflow Forecasts | Crowd Sourced Funding Offer Document
The Accounting Business Expo was conducted as a virtual conference on Monday 16th and Tuesday 17th November, with one of the most talked about features being the large number of presenters commenting on the introduction of “Business Advisory Services” by accountancy firms.  This is great news, especially for those people who have been advocating, for many years, that accountants need...

Tags: Accounting Business Expo | Accounting Market Pulse | Setting Charge Out Rates For Trades
Welcome to our new format of weekly Business Advisory Services Update articles and videos with presentations by ESS BIZTOOLS and one of our Affiliates where we will discuss various issues relating to the implementation of Business Advisory Services by accountants/business advisors/bookkeepers. Our first presentation “Reset Your Practice” will feature Amanda Gascoigne, Chartered Accountant,...

Tags: business advisory services | Charge Out Rate Calculator For Tradies | COVID-19 | Reset Your Practice
There are still many challenges ahead for most small businesses and medium-sized enterprises.  Many of your clients will have gained an appreciation of the extra services that you can provide to them following their first-hand experience of assistance from their accountants during COVID-19. The big question now is are your clients ready for the post COVID-19 recovery? There is still a...

Tags: Budgets | Cashflow Forecasts | Chief Financial Officer Services | COVID-19
Business people are looking for more accurate financial information as to what the effect of their decisions will be on their future operations by utilising 'predictive accounting' which incorporates 'key driver budgeting' to prepare Budgets, Cashflow Forecasts and Predicted Balance Sheets relating to their future operations. In the next COVID-19 Survival Panel webinar will be presented on...

Tags: Budgets | Cashflow Forecasts | Key Components of Cashflow Management | Predicted Balance Sheets | Predictive Accounting
“The Australian economy is going to be very reliant on a suitable vaccine for COVID-19 Coronavirus if we are going to get the economy operating as it was in January 2020 once again.  In the meantime, the government needs to be a bit more targeted with its financial support and businesses are going to rely on their accountants to guide them on the best way forward for the operation of...

Tags: Crowd Sourced Funding Intermediary | Crowd Sourced Funding Offer Document