Thursday, 21 Feb 2019
The not-for-profit entities operating in Australia are required to adhere to the Australian Accounting standards which specify the financial reporting obligations. The Australian Accounting Standards Board (AASB) is involved in the development, issuance and maintenance of the Australian Accounting Standards …
Thursday, 14 Feb 2019
Running a business in Sydney is not a walk in the park. It comprises working on a variety of job functions like management, organisation development, operations, production, supply chain, etc. Besides taking charge of all these responsibilities, managing the accounts …
Wednesday, 30 Jan 2019
Not-for-profit (NFP) entities are not the usual revenue-generating business models. They aim at achieving a greater good for society and thus are not interesting in multiplying their profits. However, they do work like every other organisation in Melbourne which has …
Thursday, 24 Jan 2019
Deciding on the structure of the business is a vital decision which should not be taken in haste. It has a plethora of implications as it determines the amount of tax to be paid, asset protection, accountability of the owner, …
Wednesday, 26 Dec 2018
With the advent of cloud-based systems, the bookkeeping process has undergone a paradigm shift. The digital revolution has eliminated the outdated data entry-based systems and paved way for automation. The switch to evolved techniques has improved accounting accuracy and efficiency. …
Wednesday, 12 Dec 2018
Owning a flourishing venture is a dream cherished by all entrepreneurs who have stepped into the domain of trade and commerce. The owner is always looking out for ways to enhance the processes and improve the efficiency which allows the …
Wednesday, 28 Nov 2018
Bookkeeping may not be considered the lifeline of a business, but it definitely has the power to bring an empire down or make it flourish. It is a requisite tool in the arsenal of a business owner which allows accurate …
Monday, 19 Nov 2018
An entrepreneur is a highly energetic and proactive individual who wants to don many hats at the same time. From managing the administration work, logistics, inventory, supply-chain and finances to marketing and recruitment – they want to be a part …
Wednesday, 24 Oct 2018
Credit control is a vital part of the financial process of a business as it ensures that credit is given to only those customers who are capable of repaying it on time. It maintains the liquidity of the enterprise by …
Monday, 15 Oct 2018
A phone call or a letter from the ATO requesting an audit is enough to give you the proverbial jitters and sleepless nights. Most business owners become panic-stricken and start feeling helpless and puzzled when such a situation arises. However, …
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