Succession Planning

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
Welcome to Accountants Minute. Creating a “FUTURE PROOFING” strategy is vital for accountancy businesses that aspire for a future as the key financial advisor to clients – not fighting competitors with a series of tax driven commodity products. ESS BIZTOOLS’ “New Financial Year Special Offer” will help you get started, for a very low entry fee, on the exciting journey of offering...

Tags: Chief Financial Officer Services | Corporate Governance | Debtors | Future Proofing | Personal Property Securities Register
Welcome to Accountants Minute. The CommBank Accounting Market Pulse June 2018 identified a number of service lines, outside of traditional accounting/taxation services, in which some accountants are investing, including: Business Advisory Services Management Consulting Services Risk Management Private Equity Services Accountants need to consider these types of products/services as you...

Tags: Corporate Governance | Future Proofing | Government Grants | Personal Property Securities Register
Welcome to Accountants Minute. “Today’s business environment is in a state of flux with some industries extremely buoyant whilst others are floundering.”  “Accounting firms service all sectors of the economy and as a result our benchmarking research is showing a marked differential in performance among firms of similar size or based in similar geographies.” ...

Tags: Business Plan | Personal Property Securities Register
Welcome to Accountants Minute. Are you a “me too”?  Your clients are competing in a competitive world.  Accountants are no different. Things are changing all the time. All types of businesses, including accountants, need to be differentiating their services to make them look different, to be able to offer the products/services that the customers are looking for – your...

Tags: Personal Property Securities Register | Real Accountant's Work

Are Your Clients Being Served?

As an accountancy/advisory business, are your clients being served the professional services that they require?

A number of surveys over the last 15 years have identified that small/medium enterprises want more services than just taxation from someone – without really specifying who the “someone” is! There is no guarantee that “someone” is the SMEs current accountant or advisor.  This is because many SMEs have a belief that their current accountants are only interested in preparing annual...

Tags: Banks | Business Plan | Commencing a Business | Corporate Governance | Exporting | Purchasing a Business | Section 708

WIN! WIN! WIN!

Welcome to Accountants Minute.

There are tremendous opportunities for accountants and business advisors if you make a positive commitment to offer a broader range of commercial services to your SME clients in 2018. WIN! For SME clients! SMEs have been identifying that they would like to receive additional commercial services in survey after survey for the last 15 years. In the surveys SMEs identified a range of services...

Tags: Budgets and Cashflow Forecasts | Business Plan | Corporate Governance | Mentoring
Welcome to Accountants Minute. Surveys conducted by major companies over the last 15 years have all indicated that 75% to 80% of SMEs are looking for a wider range of commercial services to be provided by their accountants/business advisors. Have you had a discussion with your "A Class" clients to ask them what type of services they are looking for? Many of these clients are probably going...

Tags: Budgets and Cashflow Forecasts | Business Plan | Personal Property Securities Register
Consultants’ training to deliver business advisory services is very important if you’re going to meet the challenge of being able to deliver outstanding new products and services for your clients ‘beyond taxation’. There is an old saying – ‘There is no gain without pain’.  This is very true when it comes to examining how you’re going to go about delivering business advisory...

Tags: business advisory services | Business Plan | Chief Financial Officer Services | Personal Property Securities Register | SME Needs' Analysis
Accountants, you need more than marketing gimmicks in a Business Advisory Services’ Package.  Whilst marketing and selling skills are important attributes for accountants who are looking to diversify their practices by offering a wider range of services, they are not the only skills that are required if you are going to successfully launch your accountancy or consultancy business into...

Tags: Budgets and Cashflow Forecasts | business advisory services | Business Plan | Risk Management
Hello, I’m Peter Towers, Managing Director of ESS BIZTOOLS and ESS BASIP.  Welcome to Accountants Minute. Accountants, small/medium enterprises want value added services.  Services that your clients can applaud and say, “thank you very much”.  Do your clients thank you for the services that you provide?  We’re at the start of a new financial year.  What are your resolutions for...

Tags: Budgets and Cashflow Forecasts | business advisory services | Business Plan | Corporate Governance | Personal Property Securities Register
CCH iFirm presented a very interesting webinar earlier this week which raised a number of questions relating to how you might go about building a “Future Fit Accountancy Business”. What do you need to create an outstanding accountancy business? Curiosity Focus on building value for your clients How do you view challenges: Threats? or Opportunities? Many of these...

Tags: Budgets and Cashflow Forecasts | Business Plan | Personal Property Securities Register
Whilst there is some debate as to the degree that individual accountancy businesses will be affected by changes in the marketplace relating to taxation returns, financial advice and superannuation fund audits, you would be a very brave accountancy business if you elected to reject these changes out of hand! At the very least why not have an each way bet! There are numerous examples all around...

Tags: Benchmarking | Budgets and Cashflow Forecasts | Business Plan | Digital Disruption | Potential Fee Slippage
I'd like to take this opportunity of wishing you, your colleagues and your families a very Happy Christmas and I hope that 2017 will be very prosperous for you and your business. Over the last six months the team at ESS BIZTOOLS has brought you comments on a wide range of business issues that, we believe, are important for accountants to think about as you plan the services for your clients. ...

Tags: Budgets and Cashflow Forecasts | Business Plan | Information Memorandum | Personal Property Securities Register
What would you learn from 8 hours with a group of company directors?  I had that privilege a couple of weeks ago in a programme sponsored by the Entrepreneurs Programme, part of AusIndustry.  The brief was to meet for 8 hours with a group of company directors and discuss with them the issues that they were confronting in their businesses and also to give them some briefing on corporate...

Tags: Benchmarking | Business Plan | Key Performance Indicators | Mentoring