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11 Key Bookkeeping Tips for Small Businesses (that Actually Make Life Easier)

13 May 2022

If you own a small business, you know how tough it can be. One of the most challenging aspects of it is ensuring all your financials are properly managed. This includes things like ensuring your invoices are paid on time, your expenses are all accounted for, your suppliers and vendors are paid right and on…

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Financial Reporting: What You Need to Know [2022 Guide]

29 April 2022

In the world of modern business, financial reporting is a vital component to ensuring your business is consistently scaling. Having regular access to updated and accurate financial statements is critical to helping you track your company’s metrics – and putting on the path to success. Failing to stay updated on the financial health of your…

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Why Working With Experts Saves You Money (Every Single Time)

12 April 2022

A lot of us think we’re experts in everything we do. Whether that’s in our personal lives (like raising kids or choosing the right electricity supplier for our house) or in our professional lives (like marketing our business or doing our own accounts). The cold hard truth is that there are very few people who…

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What is a Company Secretary? [Everything You Need to Know]

28 March 2022

A company secretary is one of the most important roles in a business. This importance has increased significantly over the past twenty years, especially in light of high-profile company collapses in the 1990s and 2000s (recall the collapse of HIH Insurance and the Bell Group). These collapses resulted in quite intense focus being placed on…

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Why Your Business Needs Insurance (and What You’ll Pay if You Don’t Get It)

11 March 2022

Insurance – it’s something nobody wants, but everybody needs. And that’s especially true when you own your business. All businesses, whether you’re a sole trader or a multinational conglomerate, will need insurance. The problem we face, however, is that there is no generalised ‘business insurance’ policy that fits all kinds of companies. The type of…

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What is the best business structure for an online business?

28 February 2022

If you’re starting an online business, you’ve probably stumbled upon the issue of business structures and may be feeling a little lost.  As the pandemic continues to affect people all around the world, more and more are turning to the internet to start a business.   And that’s not surprising considering the wealth of opportunities you’ll…

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How to Chase Up Late Payments (and What to Do When They Just Won’t Pay)

15 February 2022

Small and medium-sized business owners rely on their customers to conduct trade fairly and make payments when they are due. If you have a customer who seems to be avoiding making a payment, it’s wise to act quickly to find a resolution before involving debt collectors or the courts. But sometimes, your clients or customers…

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Accounting Departments – On the Frontline of Cyberattack Prevention

8 February 2022

As accountants and finance professionals, one of our key responsibilities is to highlight and manage financial business risks. And in today’s digital-first work environment, that includes risks involving cybersecurity breaches. Without implementing cybersecurity measures, businesses risk the loss of revenue, clients, and reputation. Additionally, they experience the costs of reduced employee morale, penalties from regulatory…

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Special Purpose Financial Statements are history. Learn the new rules.

28 January 2022

Special Purpose Financial Statements (SPFS) are a thing of the past.  As you may be aware, the Australian Accounting Standards Board (AASB) approved the removal of the SPFS in early 2020, introducing a significant change applicable to for-profit entities who routinely prepare those statements.  Since 1 July 2021, these documents have not been permitted. Now,…

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What is a Skills Matrix and Why are They Important for Diversity?

14 January 2022

A skills matrix is your window into the skillset of your employees that form the bedrock of your organisation. They are incredibly useful to know what skills and competencies your employees have, and how the future of your operations can be affected. They’re also very important for workplace diversity, as they can identify the broad…

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