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News & Articles on Finance & Business, Accounting, Taxation, SMSF & more

Don’t Seek Feedback Unless You Want the Truth

23/03/2016 by Lavina Webb Our love affair with smart phones and tablets shows no signs of abating, and it has been said that genuine face-to-face communication is the first major casualty of our reliance on electronic devices to transmit information. This would be a great pity as it is through genuine and respectful communication that we reach real understanding. A key part of this process is through listening and clarifying ambiguous responses with questioning. Listening and Questioning – Two Essential

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Thinking Of Doing Your Own Tax Return? It Is Harder Than It Looks

17/06/2016 by Lavina Webb Anyone who has been working for more than three months, either full-time or part-time, must be reasonably competent at what they are doing. If they were not, chances are they would have been asked to leave well before their probationary period was up. However, just because they are good at their jobs does not mean they know everything about our taxation system. We know that, because our jobs are all about our taxation system. We are

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Will An External Analysis Of Your Business Help It To Survive?

09/01/2017 by Lavina Webb For many Australian businesses 2016 has not been a good year, with some large and very well-known retail names going into liquidation. Masters hardware chain, Dick Smith and now Payless Shoes have shed thousands of jobs and left premises empty, with Dick Smith only surviving as an online store. Small Businesses Need Outside Help A well-known business publication, when discussing the various reasons for the demise of many businesses, noted that poor decision making and unsustainable

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How A Mentor Can Drive Your Business Forward

11/11/2016 by Lavina Webb It seems that every celebrity or sports star, at the end of their career, writes a no-holds-barred book about their road to success. Many of them have one person, among others who influenced their career, who provided crucial assistance at just the right times, to keep them grounded. They describe their relationship with this person as that of a mentor, and believe this was the difference between a solid career and a stellar one. Mentoring an

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A Blueprint for Future Business Success

Every successful business operator knows that the key to building a customer base and getting repeat business year after year is to deliver outstanding customer service. The product mix may change over time, but its quality and the after-sales service offered by the business, stays in customers’ memories for a long time. Incremental changes every day move a company forward to meet changing markets, but in our rapidly changing business environment, customers expect more but want to pay less. We

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Business Audits Need Not Be Onerous – Be Prepared

10/02/2017 by Lavina Webb Australia’s Corporations Act requires companies and other entities to comply with financial reporting and auditing requirements, depending on their size, annual turnover and other attributes. The Australian Securities and Investments Commission (ASIC) is the body responsible for regulating this compliance for those entities subject to the Corporations Act. Why Do Business Need to be Audited? Apart from ASIC requirements, there are other reasons for a company or business to request an external audit. The audit may

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