Accountant's Minute

“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
"The key group of clients that accountants should be promoting the concept of Business Advisory Services to, are any clients who are receiving JobKeeper payments", said Mark Holton, Director, Smithink Pty Ltd in the previous COVID-19 Survival Panel webinar. These clients were obviously running sound businesses prior to the challenges of COVID-19 and many of them will need your assistance to be...

Tags: COVID-19 | COVID-19 Survival Panel Webinars | Marketing
Will Business Advisory Services be the number one product in your firm? Business Advisory Services was nominated by the accounting firms interviewed by the Commonwealth Bank’s Accounting Market Pulse as the “practice area to be in the most demand in 6 to 12 months of 2020/21". Have you developed a strategy of how you can offer a range of services to assist your clients to organise...

Tags: Business Advisory Implementation Plan | Financial Health Checks | Key Performance Indicators | Profit & Loss Account
How good is your relationship with your clients? One of our keynote speakers in our COVID-19 Survival Panel webinar for accountants on Friday, 14th August 2020, Amanda Gascoigne is an experienced Chartered Accountant.  She has been a small business owner for 21 years and had her own accounting practice for 18 years working primarily with SME clients.  She has pivoted in recent years...
The latest developments in Victoria, where Level 4 restrictions have now been imposed in Melbourne and Level 3 in Regional Victoria, have really highlighted the challenges that can confront businesses all over Australia if COVID–19 coronavirus is allowed to become established in a particular location. Victorian businesses are going to confront many challenges and we know that the accountancy...

Tags: Crowd Sourced Funding Intermediary | Section 708
“Business Advisory Services” – highlighted by the Commonwealth Bank’s “Accountants Market Pulse” report has been the activity identified by a group of accountants as being their main priority for the next 6 to 12 months – What is happening in your firm? Mark Holton, Director, Smithink Pty Ltd, is a keynote speaker in our next COVID-19 Survival Panel webinar on Friday 31st July at...

Tags: Cashflow | KPIs | Section 708

JobKeeper Extension is Some Clarification for Businesses

Accountant's Minute 241

The Prime Minister has announced significant changes to the JobKeeper Programme from 28th September 2020 with the programme being extended until 28th March 2021 following some changes.  From 28th September 2020 the current flat $1,500 a fortnight subsidy will be replaced by a 2 Tier System. The subsidy payable from 28th September 2020 to 3rd January 2021 will be reduced to $1,200 a...
The situation in Victoria is a warning to the rest of Australia! The unfortunate situation in Victoria, relating to the significant increase in cases of COVID-19, has highlighted the ongoing problems for business operators and accountants to be diligent about all aspects of business operations so as to reduce the possibility of severe COVID-19 restrictions being reapplied, which will...

Tags: Legal | Marketing
83 days to go to the end of JobKeeper – will your clients be ready? Business advisory service expected to be the most in demand! The CommBank Accounting Market Pulse for June 2020 has identified that a majority of firms expect Business Advisory Services to experience the greatest demand in the coming 6 to 12 months. The survey questionnaire asked the participants “Which services in the...

Tags: business advisory services | crowd sourced funding equity raising
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...

Tags: business advisory services
Welcome! Preparing Budgets and Cashflow Forecasts early will identify when additional funding is required. This is a very important consideration as we are about to commence a new financial year – with many more challenges and dangers for businesses that have not taken some time out to plan and think about the funding of their businesses – these will be some of the problems that confront...

Tags: Predictive Accounting

Now Is The Time!

Accountant's Minute 236

Welcome! Good news last week for your clients in the building and construction industries and some tradies. The Australian government’s Stimulus Package Number 4 will bring some joy to the building industry, including tradies operating in the house building and renovations industries. In this week’s COVID-19 Survival Panel webinar Peter Towers, Managing Director of ESS BIZTOOLS, will...

Tags: COVID-19
Welcome! In this week’s "COVID-19 Survival Panel" webinar, Andrew Geddes, Accountant Coach/Mentor and Former Chairman of Greencross Ltd (a top 200 ASX company), will present an update on his advice for accountants on how you can assist your small business and medium-sized enterprise clients to navigate through the difficult trading conditions that will confront all businesses as the COVID-19...

Tags: Accelerating Commercialisation | COVID-19 | Early Stage Innovation Company | Entrepreneurs' Program
Welcome to winter!  It looks like there is going to be plenty of snow in the south and hopefully businesses will be able to recommence operations. Last week Andrew Ward a Foundation Director of Crowdfunding Institute of Australia gave an overview of the crowdfunding industry in Australia.  This week Peter Towers introduces research and development activities into this theme because...

Tags: COVID-19
Welcome to some winter weather!  It’s great to see that some of the States and Territories are opening up for business operations again.  There are going to be plenty of challenges for accountants to respond to, especially as we approach 30th September. In this week’s "COVID-19 Survival Panel" webinar on Friday 29th May at 12-noon AEST, we have a presentation by Jordan Lowry,...

Tags: COVID-19

It's Accountants' Time to Shine

Accountant's Minute 232

Greetings: we hope that you’re well and you're starting to develop strategies for your clients to emerge from the COVID-19 coronavirus lockdowns with reinvigorated businesses.  We believe that there is a tremendous opportunity for accountants to perform a 'Chief Financial Officer' role for your clients to assist them to survive the very challenging times that will be evident post 30th...

Tags: accountancy business | business advisory services | COVID-19