Employee Super – Audit attention
Heads –up!
For everyone who employs staff, there are legislative requirements to make mandatory super contributions.
This has been in place for many years:
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Developing a Small Business Financial Plan
A financial plan is a component of a business plan that serves more than just one purpose. The projections made determine the viability of a business, making it the essential part of any loan or venture capital application. Investors need to know they can get a return on their investment, and banks need to know that loan repayments can be managed. In essence, the financial plan becomes the reference against which you monitor your business’s performance. So how can you develop a financial plan for your small business?A financial plan has three major sections:
- Income statement
- Cash flow projection
- Balance sheet
A Guide to Recent ASX Floats
Stay on top of recent floats to the Australian Securities Exchange with our guide. You’ll find a wealth of necessary information, including float dates, expected share price, and links to prospectuses and investor info.
2015 / 2016 Budget
The dust has finally settled after the Federal Government handed down the budget a few weeks ago. The following items are the key points for small business owners:
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Track your Profits
We all understand the commercial pressure derived from declining revenues, declining gross profit margins, wages push and aggressive landlords. The intuitive reaction must be to change. The famous football coach Wayne Bennett has been quoted to say when times are tough– “don’t get bitter, get better”! In my opinion, lessons derived from sport can often be applied to business.
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As part of internal housekeeping, we are consolidating our Tax Agent Registration details. You may notice the change in number on your next return.
There is no change in services provided to our clients. However should you have any queries please contact
Adrian or Anneke this week.
How can you get the best from your accountant? 6 Tips…
As the business climate has changed enormously over the recent years, the role of your accountant has become more important than ever before. In order to optimise your relationship, I suggest the following:
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Numbers are beautiful!
There is no better feeling than being organised. To collate your thoughts, ideas, records, documents etc. can provide true clarity and peace of mind. You have complete knowledge of what is going on in your business (as well as your personal life). The probability of some type of nasty surprise is drastically reduced.
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Review your investment strategy
The importance of maintaining good health, is undeniable. The same goes for your finances! As both accountants and financial planners, we recommend that you go back to basics and undertake a common-sense review of your financial affairs, including investments.
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When Things Go Wrong…
There are some common signs which may indicate that a business is struggling financially. I’m sure we’ve all walked into a business where you’ve sensed that things may not be travelling well. Typical indicators for businesses in retail could be gaps in stock on shelves, old or damaged packaged stock still on display, dirty or damaged fitout, flooring or lighting, lack of customer traffic, skeleton staff rostered on duty, demotivated or disinterested looking employees, etc.
But how do you know when your own business is potentially in trouble? In so many business case studies, proprietors can be in denial of problems which are right under their noses, even if they believe they have things under control. The top 9 indicators of business distress are:
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