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Audit Update and Crypto
December 16, 2021We are pleased to present the December 2021 edition of General Update and Crypto, in this edition we will provide a general update on recent activity in the financial reporting space as well as a feature article on current issues in accounting for cryptocurrencies. A number of articles are relevant for certain entities only and […]
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How is your business functioning: face the facts
November 24, 2021Understand Your Business – Taking a Critical Look at Your Business is Always Important! Many of us realise the trajectory to success isn’t always a steady rise to the top. From very early in our business careers this is something we ‘all have to come to grips with’, whether we are business owners, entrepreneurs or […]
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Internal Controls Provide Effective Insurance Against Fraud
November 17, 2021Small and Medium Sized Enterprises (SMEs) Must Have Effective: Internal Controls Of the many sizes a business may be, it is the SMEs that are most vulnerable to fraud, theft and errors. SMEs generally have weak internal controls which often stem from unaware business owners and management. Internal controls are rules, procedures and mechanisms a company […]
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Mandatory Director Identification Numbers (DIN)
November 3, 2021Following the announcement from the Federal Government in June 2020, Director Identification Numbers are being made mandatory. The legislation is part of the 2020 Budget Digital Business Plan, and is designed to create a Central Commonwealth Business Registry and to improve the integrity of Australian Business Registers. The DIN regime will be administered by the […]
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Budget is not a dirty word!
September 15, 2021The advantages of budgeting for small businesses Small business owners vary in the attention they give to budgeting. Some take it seriously, others would rather steer away from the concept of budgeting and just get to work. To many small business owners ‘Budgeting’ is a dirty word, but the truth is that many business owners […]
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Not-For-Profits: Board Members and Risk Avoidance
August 25, 2021How to manage risks Risk is everywhere: it is inevitable in business of all kinds, at all levels. And so risk management – or risk minimalization – is both a critical, but also a common task. Not-for-profits (NFP’s) face many of the same challenges as ‘for-profit’ organisations but they also face an additional layer of […]
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Small Business COVID Hardship Fund
August 13, 2021There is no doubt that Victorian small businesses have been hit hard by the rolling lockdowns, both by restrictions on trading and also ongoing uncertainty on the ability to undertake and deliver projects. Throughout lockdowns 5 and 6 economic support has been provided by the Victorian Government, but a number of businesses have fallen […]
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Price and Profit
August 11, 2021Do you have the right price! The most significant business variable for delivering significant profits straight to the bottom line is price. Ironically, it is also the variable that many business owners are most reluctant to tinker with. Some business owners can be quite entrepreneurial in their willingness to raise or increase prices, but many […]
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Lockdown 5.0 Support Payments
July 29, 2021As hard as it is to believe, Victoria is once again emerging from another lockdown, the fifth since last March. With many businesses still struggling to recover from the last four lockdowns and the JobKeeper program finished, the Victorian and Federal Government have announced further support measures to assist certain businesses and individuals. The most […]
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New Financial Year Resolutions
July 29, 2021For most businesses in Australia a new financial year has just started. Whilst still under the cloud of the Covid-19 pandemic, some businesses are thriving and others are struggling with both lockdowns and ongoing threat of further lockdown. Regardless of which circumstance applies, it will be worthwhile considering whether your business should be making any […]
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