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Expert Tips: Business Advisory Services

5th Feb, 2021
Corporate Communications - A Skill Accountants Need In This New Business Environment!
Corporate Communications - A Skill Accountants Need In This New Business Environment!
Accountant's Minute 258
In the past, many accountants were not called upon to be able to display outstanding communication skills, but in the era that we are now in accountants, who wish to broaden their work activities to…
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17th Dec, 2020
SWOT Analysis Helps
SWOT Analysis Helps
Business Advisory Services Updates
Accountants can help SMEs by encouraging the preparation of a SWOT (Strengths, Weaknesses, Opportunities and Threats) Analysis at the beginning of a new calendar year. You could encourage your clien…
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16th Dec, 2020
Key Drivers for ‘Predictive Accounting’
Key Drivers for ‘Predictive Accounting’
Business Advisory Services Updates
The key driver for utilising ‘Predictive Accounting’ is to clearly summarise the various “non-financial items” before attempting to produce a budget. ‘Predictive Accounting’ embraces a systematic ap…
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15th Dec, 2020
Succession Planning Starts With A Conversation
Succession Planning Starts With A Conversation
Business Advisory Services Updates
Succession planning is not something that business operators should think about when they get old and are ready to retire. It is a process that should be thought about in every segment of the busine…
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14th Dec, 2020
Superstar for Budgeting and Forecasting?
Superstar for Budgeting and Forecasting?
Business Advisory Services Updates
In our final Business Advisory Services conversation on Wednesday 16th December at 12-noon AEDT (11.00am AEST), Peter Towers, Managing Director of ESS BIZTOOLS will be joined by Paul Barnaby, Charter…
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14th Dec, 2020
Predictive Accounting Encourages Discussion
Predictive Accounting Encourages Discussion
Business Advisory Services Updates
Predictive accounting is an important part of the delivery of Chief Financial Officer Services because it requires accountants to discuss with clients all aspects of their business and then to commit…
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11th Dec, 2020
Predictive Accounting Helps
Predictive Accounting Helps
Business Advisory Services Updates
Knowing the financial impact of decisions, before a client implements those decisions, is very important for financial stability. The process commences with an examination of the key drivers relativ…
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10th Dec, 2020
Accounting For Departments As If They Were Businesses
Accounting For Departments As If They Were Businesses
Business Advisory Services Updates
  Benchmarking is a great tool for accountants to utilise to analyse a business so that information on the business’ performance can be conveyed to the directors, owners, leadership team. To e…
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9th Dec, 2020
Every Question Should Lead to a Service Engagement
Every Question Should Lead to a Service Engagement
Business Advisory Services Updates
Now is the time for accountants to be having a cup of coffee with SME clients to help set the business’ strategic plan for 2021. Some of the questions that you could ask include: What are your to…
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8th Dec, 2020
Scaling Up
Scaling Up
Business Advisory Services Updates
As we consider the challenges, potential problems and rewards that might be possible in 2021, SME leadership teams and their accountants could do well to incorporate the strategies of “scaling up” in…
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7th Dec, 2020
Strategic Planning Other Issues
Strategic Planning Other Issues
Business Advisory Services Updates
There are numerous other areas in the strategic planning process in which accountants can assist SMEs, including: Review of charge out rates being utilised by tradies to ensure that the charge out…
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7th Dec, 2020
Strategic Planning 2021
Strategic Planning 2021
Business Advisory Services Updates
Strategic Planning 2021 There is a strong expectation that 2021 will be a better year than 2020.  However, this will not occur unless there has been some strategic planning undertaken over the…
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4th Dec, 2020
Crowd Sourced Funding Game Changes
Crowd Sourced Funding Game Changes
Business Advisory Services Updates
Crowd Sourced Funding Equity Raising has certainly introduced new opportunities for SMEs as well as for accountants and business advisors. SMEs can access a retail investor audience for a fraction…
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3rd Dec, 2020
Business Strategies
Business Strategies
Business Advisory Services Updates
Accountants could spend some quality time with their SME clients at present planning their business strategies for 2021. Why not have a cup of coffee with your clients and discuss these strategies w…
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2nd Dec, 2020
Government Grants Awareness Helps
Government Grants Awareness Helps
Business Advisory Services Updates
There are hundreds of government grants available from the Australian, State and Territory governments, primarily targeted at businesses with turnovers under $50 million per annum. The range of serv…
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1st Dec, 2020
Debtors’ Management a Problem Area for Many Businesses
Debtors’ Management a Problem Area for Many Businesses
Business Advisory Services Updates
Debtors’ management is often not given a high priority in a business and this can lead to high levels of debt owed to the business. Accountants can assist their clients to improve their debtor’s man…
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30th Nov, 2020
Crowd Sourced Funding Popularity Growing
Crowd Sourced Funding Popularity Growing
Business Advisory Services Updates
Matt Vitale, Co-Founder of Birchal, Crowd Sourced Funding Intermediary, indicated this week that during 2020 his company had assisted more companies than it had in 2019. Birchal expects to assist ev…
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30th Nov, 2020
Passing the “Principles Test” Helps Raise Funds
Passing the “Principles Test” Helps Raise Funds
Business Advisory Services Updates
Young companies can qualify for the “Early Stage Innovation Company” status by passing the “Principles Test”. Five questions need to be answered: Is the company genuinely focused on developing fo…
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27th Nov, 2020
Section 708 Great for Capital Raising
Section 708 Great for Capital Raising
Business Advisory Services Updates
Section 708 of the Corporations Act enables a private company to raise up to $2M in a 12 month period from a maximum of 20 retail investors. “Retail Investors” are defined as people who are not “Sop…
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26th Nov, 2020
Planning Strategies for 2021
Planning Strategies for 2021
Business Advisory Services Updates
If you haven’t already planned your strategies for 2021, now is a great time to be holding some “think tank” meetings to identify key strategies that your accountancy firm should be implementing duri…
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25th Nov, 2020
Capital Raising Options Available for SMEs
Capital Raising Options Available for SMEs
Business Advisory Services Updates
There are 3 distinct capital raising opportunities for SMEs, as an alternative to borrowing money from a bank. The capital raising requires companies to issue shares to new shareholders and, in so d…
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24th Nov, 2020
Business Advisory Services – Personal Property Securities Register
Business Advisory Services – Personal Property Securities Register
Business Advisory Services Updates
The consequences of not registering on the Personal Property Securities Register can be very expensive. Risk management is very important for every business and one of the major risk categories that…
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24th Nov, 2020
What Changes Has COVID-19 Caused For Accountants?
What Changes Has COVID-19 Caused For Accountants?
Business Advisory Services Updates
Accountancy firms have experienced significant increases in work activity directly as a result of assistance being given to business clients relative to surviving the COVID-19 crisis. In many respec…
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23rd Nov, 2020
Enabling Businesses Can Access Business Growth Grant
Enabling Businesses Can Access Business Growth Grant
Business Advisory Services Updates
Businesses that provide enabling or supporting technologies, imports or services to drive business growth or improve business competitiveness in one or more of the government’s targeted sectors can a…
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23rd Nov, 2020
Business Growth Grant Helps Businesses
Business Growth Grant Helps Businesses
Business Advisory Services Updates
The Australian government, via the Entrepreneurs’ Program, operates the Business Growth Grant Program which is targeted at companies which operate in the following targeted segments: Advanced Manu…
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20th Nov, 2020
Marketing Assistance Helps Accountants
Marketing Assistance Helps Accountants
Business Advisory Services Updates
In my discussions with accountants it is obvious that, if an accountancy firm decides that it’s going to offer Business Advisory Services, there needs to be a marketing campaign to alert clients &…
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19th Nov, 2020
Business Advisory Services High Rating at Expo!
Business Advisory Services High Rating at Expo!
Business Advisory Services Updates
At the Accounting Business Expo held on 16/17 November the number of presentations relating to Business Advisory Services was very high – probably the highest ever for this type of forum. A wide var…
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18th Nov, 2020
Setting Professional Charge Out Rates
Setting Professional Charge Out Rates
Business Advisory Services Updates
Accountants can assist professional practices by implementing a strategy for the setting of charge out rates to ensure that the key components that contribute to a professional practice generating a…
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17th Nov, 2020
Delivering Business Advisory Services to Add Value
Delivering Business Advisory Services to Add Value
Business Advisory Services Updates
This is an overview of my presentation to the “Accountancy Business Expo” this afternoon at 1.30pm AEDT (12.30pm AEST).  Register for your FREE ticket to the Accounting Business Expo The key it…
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17th Nov, 2020
Reset Your Practice
Reset Your Practice
Business Advisory Services Updates
In the first presentation of our new Business Advisory Services Update weekly webinar presentations I’ll be joined by Amanda Gascoigne, Chartered Accountant, Coach and Mentor, Amanda Gascoigne Consul…
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16th Nov, 2020
Retailers Chasing Profits!
Retailers Chasing Profits!
Business Advisory Services Updates
A common question that accountants hear from retailers is “Why, if we are selling so much product, aren’t we making a profit?” In my presentation to the Accounting Business Expo on Tuesday 17th Nove…
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13th Nov, 2020
Charge out Rates for Tradies Need Review
Charge out Rates for Tradies Need Review
Business Advisory Services Updates
Many accountants have large numbers of tradie businesses as clients. In my presentation to the Accounting Business Expo on Tuesday 17th November at 1.30pm AEDT (12.30pm AEST) I’ll discuss the proact…
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12th Nov, 2020
Business Funding In Demand
Business Funding In Demand
Business Advisory Services Updates
There is an expectation that businesses are going to find tougher conditions for financing their businesses. A key component of my presentation to the Accounting Business Expo on Tuesday 17th Novemb…
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11th Nov, 2020
Chief Financial Officer Services
Chief Financial Officer Services
Business Advisory Services Updates
The Accountants Business Expo presentation that I’m making is on Tuesday 17 November is at 1.30pm AEDT (12.30pm AEST).  - Register for your FREE ticket There is now SME market awareness that ac…
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10th Nov, 2020
Accounting Business Expo 16/17 November
Accounting Business Expo 16/17 November
Business Advisory Services Updates
“Delivering Business Advisory Services to Add Value” is the presentation that I’m making at the virtual Accounting Business Expo on 16/17 November. The Commonwealth Bank’s Market Pulse Report has id…
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10th Nov, 2020
Personal Leadership
Personal Leadership
Business Advisory Services Updates
Accountants can contribute to their SME clients’ leadership skills by incorporating personal leadership capacity and development within the Chief Financial Officer services being offered to clients.&…
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4th Nov, 2020
Export Market Development Grant Applications Due 30 November
Export Market Development Grant Applications Due 30 November
Business Advisory Services Updates
The Export Market Development Grant provides financial incentives based on expenditure paid to promote exports of products and services, including inbound tourism and the export of intellectual prope…
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3rd Nov, 2020
Business Advisory Services – Embrace Or Ignore?
Business Advisory Services – Embrace Or Ignore?
Business Advisory Services Updates
Business Advisory Services provides a great opportunity for accountants to supply a broader range of value adding services to their clients.  Accountants in public practice should embrace this o…
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2nd Nov, 2020
Challenges for Businesses
Challenges for Businesses
Business Advisory Services Updates
There are still plenty of challenges confronting SMEs of which accountants need to be aware - assisting clients to develop strategies to overcome challenges is part of the broader range of services i…
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29th Oct, 2020
Early Stage Innovation Company Principles Test
Early Stage Innovation Company Principles Test
Business Advisory Services Updates
Accountants, many companies will potentially need your assistance on this process. For young companies which have not been active for very long there is an alternative test to the Gateway Test that…
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28th Oct, 2020
Qualifying as an Early Stage Innovation Company – Gateway Test
Qualifying as an Early Stage Innovation Company – Gateway Test
Business Advisory Services Updates
There is an expectation that many businesses will have spent some of the lockdown time caused by COVID-19 to undertake research and development activities and some of those businesses will be giving…
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27th Oct, 2020
Early Stage Innovation Company Status Helps Raise Funds
Early Stage Innovation Company Status Helps Raise Funds
Business Advisory Services Updates
Early Stage Innovation Company status is not well-known and this has probably meant that many directors of young companies were unaware of the special category of companies that the government establ…
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26th Oct, 2020
Crowd Sourced Funding Intermediaries
Crowd Sourced Funding Intermediaries
Business Advisory Services Updates
Accountants who wish to be able to advise clients on Crowd Sourced Funding need to have a clear understanding of the duties, responsibilities and powers of Crowd Sourced Funding Intermediaries. ASIC…
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23rd Oct, 2020
Clients Need Accountant's Assistance
Clients Need Accountant's Assistance
Business Advisory Services Updates
Crowd Sourced Funding presents accountants with an opportunity to be able to undertake a significant range of professional services to assist clients to be able to raise capital direct from the publi…
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22nd Oct, 2020
Crowd Sourced Funding Equity Raising
Crowd Sourced Funding Equity Raising
Business Advisory Services Updates
Many directors of private companies will be considering ways that they can “scale up” their businesses.  When people undertake these reviews many of them will come to the conclusion that whilst…
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19th Oct, 2020
Export Market Development Grant
Export Market Development Grant
Business Advisory Services Updates
EMDG applications for 2019/20 financial year must be lodged with Austrade by 30.11.20. The EMDG aims to assist the development of exports by Australian firms.  Eligibility applies to any Austra…
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16th Oct, 2020
Surviving in Difficult Times
Surviving in Difficult Times
Business Advisory Services Updates
With the general business uncertainty accountants are going to be in ongoing demand from their clients to assist them to survive.  There are many key aspects of a business to be considered incl…
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15th Oct, 2020
R & D Incentive Changes for Large Companies
R & D Incentive Changes for Large Companies
Business Advisory Services Updates
In the recent budget, the Australian government made changes to the research and development system applicable for large companies (turnovers over $20M).  In so doing, the government repealed it…
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14th Oct, 2020
R & D Incentive Receives Strong Endorsement by Government
R & D Incentive Receives Strong Endorsement by Government
Business Advisory Services Updates
In the Federal Budget, released last week, the government has made significant changes to the Research & Development Tax Incentive rules, thus reversing many of the changes that the government ha…
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30th Sep, 2020
Prompting SMEs to Think About Business Issues
Prompting SMEs to Think About Business Issues
Business Advisory Services
Prompting small businesses and medium-sized enterprise leadership teams to think about business issues, that they might not be looking at on a daily basis, is an important aspect for an accountant of…
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30th Sep, 2020
“The Key Is The Questions You Ask”!
“The Key Is The Questions You Ask”!
Business Advisory Services
A couple of weeks ago CommBank released their June 2020 “Market Pulse Report” which identified that the accountants, who had been surveyed, had nominated “Business Advisory Services” as the “practice…
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30th Sep, 2020
Advising Your Clients On How They're Going To Navigate These Very Difficult Times
Advising Your Clients On How They're Going To Navigate These Very Difficult Times
Business Advisory Services
Where's it all going?  When is business going to return to normal?  How are you going to be advising your clients as to how they're going to navigate these very difficult times?  How d…
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30th Sep, 2020
Developing Knowledge About Your Clients' Businesses
Developing Knowledge About Your Clients' Businesses
Business Advisory Services
As accountants move from being preoccupied with annual accounts and taxation matters into offering a broader range of professional services, they'll need to develop a more in-depth knowledge of your…
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30th Sep, 2020
Delivery of "Real Business Advisory Services"
Delivery of "Real Business Advisory Services"
Business Advisory Services
Business Advisory Services Expected To Be In Demand The “CommBank Accounting Market Pulse June 2020” report has identified that “Business Advisory Services” is expected to be the professional servic…
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30th Sep, 2020
Capability Statements
Capability Statements
Business Advisory Services
Today I'd like to talk to you about Capability Statements, because these are as important as business cards for your SME clients because it enables them to prepare a summary of who they are, the serv…
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30th Sep, 2020
Delivering Useful Services To Your Clients
Delivering Useful Services To Your Clients
Business Advisory Services
For accountants offering business advisory services here are some suggestions you could propose to your clients to reinforce the message that you're able to assist in a range of business matters beyo…
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11th Sep, 2020
Developing Knowledge About Your Clients' Businesses
Developing Knowledge About Your Clients' Businesses
Business Advisory Services
As accountants move from being preoccupied with annual accounts and taxation matters into offering a broader range of professional services, they'll need to develop a more in-depth knowledge of your…
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11th Sep, 2020
“The Key Is The Questions You Ask”!
“The Key Is The Questions You Ask”!
Business Advisory Services
A couple of weeks ago CommBank released their June 2020 “Market Pulse Report” which identified that the accountants, who had been surveyed, had nominated “Business Advisory Services” as the “practice…
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11th Sep, 2020
Breakeven Analysis
Breakeven Analysis
Business Advisory Services
Breakeven Analysis is very important for your business clients to understand, because this is the point where the business knows whether it has made a profit or a loss.  It's the starting point…
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11th Sep, 2020
Research & Development Incentive
Research & Development Incentive
Business Advisory Services
The only type of entity that can claim the Research & Development Incentive is a company. Those companies have to have a turnover of $20 million to be able to claim the 43.5% rebate on eligible r…
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11th Sep, 2020
Leadership Team
Leadership Team
Business Advisory Services
Today I want to discuss the leadership team. If you're going to be supplying a broader range of professional services, what we call Business Advisory Services, to your clients then being able to ass…
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24th Aug, 2020
Business Advisory Services - Breakeven Analysis
Business Advisory Services - Breakeven Analysis
Business Advisory Services Updates
Breakeven Analysis is very important for your business clients to understand, because this is the point where the business knows whether it has made a profit or a loss.  It's the starting point…
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