Accountants Daily Insider is your weekly analysis of the biggest themes shaping the Australian accounting landscape. Join Katarina Taurian and Terry Braithwaite as they dive into the latest headline and developments in the industry. Get in touch with us on Twitter via @AcctsDaily and join conversa…
Did you know that accountants have certain benefits when looking to buy property? Cullen Haynes and Andrew Johnson, directors at Accounting Home Loans, join Imogen on UTH this week to talk about the benefits and opportunities available to accountants when looking to secure a home loan. Tune in to hear more about: Recent cash rate decisions and what they mean for the housing market. The origin story behind Accounting Home Loans. Why accountants can access certain home loan benefits. The process behind securing a home loan and how accountants can do it. Why accountants should leverage their home loan opportunities. You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this week's episode, host Imogen dives into the trends and insights of the insolvency landscape with expert and partner at Wexted Advisors, Chris Sequeira. Australian businesses are being challenged in the current market and Chris shares his perspective on what can be expected next. Tune in to hear more about: What has happened in the insolvency space over the beginning of the year and where it will likely go next. Notable trends and patterns. The ATO and its role in the insolvency landscape. Small business restructuring and safe harbour provisions. Key indicators for when a business is headed for insolvency. You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this episode of UTH, Imogen is joined by Kylie Denton, director of Performance Advisory Group, to chat about accidental leadership and how it can impact a firm and its employees. Tune in to hear more about: What an accidental leader is and how it occurs. The 25 core leadership competencies. Advice on how accidental leaders should tackle their new position to lead effectively. Biggest challenges accidental leaders often face. Kylie's personal and professional experience with leadership and mentorship. You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, we are back with another co-hosted episode to chat through the election and what we can expect to see, or not see, within the tax landscape. Imogen and Lee-Ann provide a recap of the front-of-mind tax issues and conversations being had around them. Tune in to hear more about: The election outcome and what this means for the accounting profession. The $1,000 standard tax deduction. Division 296 and payday super. Division 7A and the Bendel case. You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on Under the Hood, we hear from our friends Heather Smith and Tyler Caskey, co-hosts of the Accounting Apps podcast. Heather and Tyler share all the insider information you need to know about the technology space throughout Q1 2025. Tune in to hear more about: Accounting technology events. Recent feature and functionality updates made to various accounting tech platforms. Personal experiences and opinions of particular updates. What is on the horizon for the technology landscape in Q2. You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this episode of UTH, Joyce Ong, founder of Tax Nuggets Academy, shares her journey of learning and development within the accounting space. According to Joyce, education within the tax space needs to be delivered in an engaging and entertaining manner to add enjoyment to the crucial learning area. Tune in to hear more about: How and why Joyce started Tax Nuggets Academy. What the start of her year has looked like and the daily challenges of running a business. Her passion for teaching, learning and development in the tax space. Her inspiration behind her ‘Billie Jean' Bendel case parody and what's on the horizon for her next one. Joyce's advice when dealing with negative feedback and running a business as your “most authentic self”. You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, Imogen is joined by Brad Beer, chief executive of BMT Tax Depreciation, to dive into the world of tax depreciation and how it can be claimed on investment properties. Often engaged by accountants, quantity surveyors can help save thousands of dollars each year at tax time if individuals know what to claim. Tune in to hear more about: What tax depreciation is and why it is important. Why accountants are not responsible for depreciation, what a quantity surveyor is and how a depreciation schedule is utilised. Difference in depreciation between new and old properties, and residential and commercial properties. How depreciation works when a property has been renovated. Tools accountants can use to aid the depreciation process. You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH Imogen is joined by Joanna Perry, industry advocate and ex-business adviser turned business owner. After taking the social media world by storm with her strong passion for the accounting industry, Joanna shares her career journey and why she thinks all young people should consider accounting. Tune in to hear more about: Joanna's personal career journey and where it has led her. How she has utilised LinkedIn to grow a national and international following of over 10,000. Why she is passionate about advocating for the accounting industry. What she is doing differently to change the narrative and grow the profession. Her new business journey and how that has been enabled by her background in accounting. You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this co-hosted episode of UTH, Lee-Ann and Imogen are joined by Ani Tuna, head of tax advisory at BlueRock. Ani delves into her passion for tax, specifically in the small business CGT concession space, and why they are a crucial tool for the SME community. Tune in to this episode to hear more about: The definition of a small business CGT concession and why they're important. Why Ani views small business CGT concessions as her “first love”. Common and recurring errors she sees when applying the concessions. Missed opportunities. What clients need to know and what they should ask. We want to hear from you! Contact Imogen Wilson at imogen.wilson@momentummedia.com.au or Lee-Ann Hayes at lhayes@accurium.com.au if you believe there is a topic that needs to be delved into further.
On this episode of Accountants Daily Insider, Amanda Newton, group manager for the accountant segment at Intuit QuickBooks, sits down with Imogen to delve into the increasingly essential partnership between accountants and small- to medium-sized businesses. This episode explores the Intuit QuickBooks SMB Navigator Report 2025, which provides a data-driven perspective on this evolving dynamic. Conducted by Agile Market Intelligence between December 2024 and January 2025, the study gleaned insights from 506 Australian SMBs and 404 accountants, offering a comprehensive overview of the current state and future trajectory of accountant-SMB relationships.
On this episode of the UTH, Joe Kaleb, founder of Make Accounting Great Again, joins Imogen to share his passion for the profession and his mission to attract the younger generation to the accounting industry. Tune in to this episode to hear more about: What inspired Joe to start Make Accounting Great Again. Debunking political stigma and stereotypes around the slogan choice. The process of creating a business and movement from scratch. Joe's thoughts on why the accounting profession is having difficulty attracting talent. What the wider profession can do to help the movement. You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, Andy Hough, partner at Pitcher Partners, shares his work and expertise in the Australian M&A space. According to Andy, the main sentiment from all dealmakers for 2025 is “cautiously optimistic”. Tune in to this episode to hear more about: Findings from a recent Pitcher Partners report on the M&A landscape. How dealmakers are feeling about 2025 and why. Andy's career, experience and personal thoughts on the M&A market. How deals are viewed, worked through and finalised. Risks dealmakers are often posed with. You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this episode of the Accountants Daily Insider, Jared Brintz, senior marketing manager at Intuit QuickBooks, dives into the evolving world of AI and the horizon of opportunities for accountants. Brintz said AI is here and AI is now urging accountants to “ride the wave”. Tune in to this episode to hear more about: The history and future of AI. The different types of AI and how to harness them. How accountants can use it to their advantage. Tips, tricks, and tools that will help elevate the AI experience. The professional benefits of harnessing technology.
This week, Kyelie Baxter, managing director at IQ Accountants, joins UTH to talk Imogen through the process of establishing a governance structure and why it is crucial to business success. Kyelie shares the need-to-know tips and tricks on how to develop a governance structure effectively and sustainably. Tune into this episode to hear more about: Kyelie's career journey and how she likes to run her business. What is a governance structure? How can governance be established and how can an individual make it work for their business? Why a business should utilise governance. The crucial link between decision making, risk management and accountability. You can contact the Accountants Daily team and podcast host at imogen.wilson@momentummedia.com.au.
This week on UTH, Imogen is joined by Miranda Brownlee, editor of Accountants Daily and Accounting Times. Miranda provides an insight and recap into what the AD team has been seeing in the news as the federal election looms. Holistic tax reform and opposing major party policies seem to be the common themes as we anticipate the election date announcement. Tune in to hear more about: Common themes and topics the AD team is writing about. Coalition and Labor tax policies. Tax policies and independent stances. Tax reform and legislation that has been “left in the air”. You can contact the Accountants Daily team at imogen.wilson@momentummedia.com.au and miranda.brownlee@momentummedia.com.au.
David Boyar joins Imogen once again on Accountants Daily Insider to chat about all things AI strategy and thought leadership, why they are crucial, and upcoming projects in the pipeline for The Access Group. Tune in to find out more about: What is AI decision making and how should it be approached? What is Access Evo and what makes it different? How is The Access Group upskilling in AI to create an evolving product useful for the accounting industry? What is an AI strategy and why should it be implemented? “The answer is that at Access, we're not going to leave anybody behind. We make products for accountants … and we'll keep investing in Australian accountants.”
Co-hosts Imogen and Lee-Ann are joined once again by Michael Messner to bring you part two in this two-episode tax residency special. In this episode, the trio delve into the rules of tax residency, what they are, how they work, and the requirements. Tune in to hear more about: A recap of what tax residency is and who it applies to. What the term ‘domicile' means and how it applies. The four rules or 'tests' of tax residency. What the double tax agreement is and when it applies. Michael and Lee-Ann's professional views on the future of the tax residency landscape. We want to hear from you! Contact Imogen Wilson at imogen.wilson@momentummedia.com.au or Lee-Ann Hayes at lhayes@accurium.com.au if you believe there is a topic that needs to be delved into further.
Have you ever wondered if your workplace culture is as good as you think it is? Goodwork HR director, Steven Ford, joins Imogen on this episode of UTH to highlight the importance of a happy, positive workplace culture. Tune in to find out more about: How to identify if you need to outsource a HR professional. Steven's experience “ripping off the Band-Aid” and exposing toxic cultures. Tips on how to unlock high performance by nurturing employees properly. Why you should avoid motivating quotes in the workplace. How employees can effectively engage in workplace culture. How to approach a workplace and create a more cohesive, healthy environment.
Co-hosts Imogen and Lee-Ann bring on Michael Messner to UTH for a two-episode special focused on tax residency. An increasingly complex and intricate topic, Lee-Ann and Michael break down what tax residency is, how it applies and how it can be interpreted in multiple ways, in multiple jurisdictions! Tune into this first episode to hear more about: What tax residency is and who it applies to. How and why it applies to residents all over the world. What is the purpose of it and why is it so outdated? What should we do to tackle and modernise tax law? What the profession wants and suggests. Stay tuned for episode two on this topic coming in early March! We want to hear from you! Contact Imogen Wilson at imogen.wilson@momentummedia.com.au or Lee-Ann Hayes at lhayes@accurium.com.au if you believe there is a topic that needs to be delved into further.
This week on Under the Hood, host Imogen is joined by Amy Fox to unpack all things small business. Founder of Goldi Group and known as the fractional CFO for female founders, Fox opens up about how she became a small business owner within the industry, how she has structured her business and why she believes it is important to have distinct boundaries. Tune in to find out more about: Fox's journey from university days to now. What she does as the fractional CFO for female founders. The how and why behind how her business and team are structured. Why she chose to work with women only. Her client base, how she found her 'sweet spot', and her advice for other small business owners struggling to find theirs. Get in touch! Contact Imogen Wilson at imogen.wilson@momentummedia.com.au or Lee-Ann Hayes at lhayes@accurium.com.au if you believe there is a topic that needs to be delved into further.
Senior tax accountant Jimmy Nguyen joins the Insider podcast to delve into the importance of AI and technology skills and how young accountants can leverage these to propel their career. Tune into this AD Insider episode to hear more about: The benefits of learning how to master cloud-based accounting platforms. Strategies on how to effectively grow a small business. The importance of recognising the talent and work of young accountants. Cloud-based accounting platform recommendations. Is it worth it? Essential advice all young accountants need and should hear. And so much more!
On this first episode of UTH for 2025, co-host Imogen is joined by transfer pricing expert, Shannon Smit. Smit is well-known for her years of international and local experience, expertise in niche areas, small business tactics and her recruitment process for young up-and-comers. Tune into this first episode of 2025 to hear more about: Smit's expansive career and how it took her abroad. Her personal achievements over the years. How and why she runs her businesses the way she does. How she recruits, mentors and nurtures young talent. Her experience as a woman in finance. And so much more! We want to hear from you! Contact Imogen Wilson at imogen.wilson@momentummedia.com.au or Lee-Ann Hayes at lhayes@accurium.com.au if you believe there is a topic that needs to be delved into further.
Trace CEO and co-founder Cat Long joins us on this episode of Accountants Daily Insider to provide a snapshot of the climate reporting landscape and how companies and accountants can prepare for it. With mandatory climate reporting requirements looming for the majority of Australian organisations, Long dives into the critical nature and overarching goal of climate reporting and why it needs to be taken seriously. With accountants at the centre of the newly enforced legislation, Trace provides support and a digital platform dedicated to helping businesses calculate their carbon emissions as well as decarbonisation plans, business progress reports and adopting a culture of sustainability. Interested to hear about how mandatory climate reporting will impact you and your business? Tune in!
On this Christmas special of UTH, host Imogen is joined by CA ANZ president Tinashe Kamangira, who shares details about his achievements during his presidential term. When asked how he found himself as the CA ANZ president for 2024, Kamangira's answer was “a lot of luck.” Tune in to this bonus 2024 episode to hear about: Kamangira's final outlook for the year as president on a personal and on a broader industry level. What Kamangira's term as CA ANZ president was like, including the highlights. His achievements and passions. Kamangira's approach to educating and connecting with high school and university students. How to support and bolster smaller accounting practices and sole practitioners. The horizon for the accounting industry in 2025.
On the first official episode of Under the Hood, Tracey Scotchbrook from the SMSF Association joins Imogen and Lee-Ann to chat about all things currently happening in the superannuation space. A significantly complex and technical industry, tune in to hear Tracey's take on: Key attention points in the super industry this past year. What challenges the industry faced this year and what challenges are on the horizon for 2025. The future of Div 296 tax and other bills proposed by the government. Super issues and the impacts this may have on accountants.
On this episode of AD Insider, host Imogen Wilson is joined by Hall Chadwick partner Kathleen Vouris and Crouch Amirbeaggi managing partner Shabnam Amirbeaggi to chat all things insolvency and a lack of female representation. In Australia, women make up only 10 per cent of insolvency practitioners, revealing a huge gap that yearns to be filled. Amirbeaggi, the first registered female liquidator in the country, shares her journey from the beginning to the present and how she has continued to enjoy the highs and lows of the industry. Vouris, working alongside her father who has been in the insolvency game for 50 years, reflects on how her career has shaped her perspectives and how she has always felt supported by those around her. Amirbeaggi and Vouris also share insight into how the industry brought them together to form a friendship and support system of their own.
In this episode of AD Insider, chartered accountant and storyteller, Heather Smith, and chartered accountant and partner at The Bean Counters, Tyler Caskey, are back with tech updates for the third quarter of 2024. Smith and Caskey touch on multiple topics in this episode, sharing the latest news about features, functionalities and updates in the accounting technology world. Key highlights from the episode include: The 3 * 3 Strategic Vision shared by Xero's CEO at Xerocon Nashville. AI-rich NetSuite updates from Suite World and Cloud World, Las Vegas. Intuit's Enterprise Suite release and MYOB's new partnership with Silverfin. Testing Australian-based Pinch Payments alongside solutions like Stripe and GoCardless. Funding announcements from Re-Leased and ProjectWorks and acquisitions including Tradify. Smith and Caskey will speak at the upcoming Access All Areas event hosted by ChangeGPS on Wednesday, 27 November in Melbourne.
UTH has been launched to provide more technical insight and discussion into the accounting industry's ins and outs. Hear firsthand what is going on behind the scenes, who is making waves and how changing legislation and requirements continuously impact accountants, their roles and their interactions with clients. We are thrilled to introduce the head of tax education at Accurium and Tax Banter, Lee-Ann Hayes, to co-host this new podcast branch. Hayes will join journalist Imogen Wilson on UTH to chat with industry stakeholders and facilitate a more practical and sophisticated conversation.
ChangeGPS general manager and popular accountant advocate, David Boyar, jumps onto AD Insider to share his views and opinions on the current activity in the accounting industry. Boyar shares his passionate views about the disadvantages accountants have faced over the last year, and how these will likely persist into 2025. Touching on aspects from policy reform and rapidly changing obligations to professional body activity and AI adoption, Boyar expresses his perspective on it all. The episode also announces the Access All Areas event hosted by ChangeGPS in Melbourne on 27 November. The event is designed by and for accountants to connect and learn from one another during an overwhelming and uncertain time.
On this episode of AD Insider, Alan FitzGerald dives into the world of AI and how accounting firms can use it to transform their processes, operations, and services. Founder of Practice Connections Advisory, FitzGerald shares his extensive experience, knowledge, and personal opinions on AI and how it can elevate the accounting industry during a time of significant change. Touching on all aspects from benefits and challenges to risks and forecasts, FitzGerald bases his discussion on findings highlighted in the recent Changing the Game report by Intuit QuickBooks. FitzGerald says AI is the way forward for the accounting industry – tune in to this episode of AD Insider to find out why. If you'd like to discover how Australian accounting firms are leveraging technology to stay ahead of the competition and secure their future success, download the full report at intuit.me/accountanttech for valuable insights, practical tips, and real-life examples.
Momentum Media is thrilled to be hosting the sixth annual Women in Finance Summit and Women in Finance Awards in Sydney on 15 November. In the sixth episode of the Women in Finance Podcast series for 2024, sponsored by CPA Australia, host Imogen Wilson is joined by Jenny Wong, tax lead of policy and advocacy at CPA Australia. Tune in to hear about: How Wong found herself working within the tax advisory space. The benefits and challenges working in tax can present. Advice for young up-and-coming women in the tax profession. And much more!
Parras & Associates accountant Nick Parras and Pristine Finance broker Marinko Radomir share how working together has helped support their clients and strengthened their businesses. In this latest episode of Accountants Daily Insider podcast, host Miranda Brownlee and Annie Kane, managing editor of The Adviser, speak to Nick and Marinko about their specialisation in high-net-worth and medical professionals and how they work together to deliver the best outcomes for these clients. Tune in to find out: How working with brokers can also benefit accounting firms. Tips for finding broking partnerships that are the right fit for the accounting firm. Shared and unique challenges in each profession. How they work with high-net-worth clients.
Paul Dove joins Imogen Wilson on this week's episode of AD Insider to discuss how outsourcing can benefit accounting firms in light of current issues and industry struggles. Cloudstaff is a remote staffing solutions provider that helps innovative companies around the globe find their “dream team” of staff. Dove is the senior vice president of sales at Cloudstaff and is quite the guru when it comes to the ins and outs of outsourcing. He shares his personal experience and knowledge of how this mechanism can help transform and alleviate the accounting industry. Dove chats about his role at Cloudstaff, his personal experience and shares his knowledge of how this mechanism can help transform and alleviate the accounting industry.
Lana Weldon and Doriena Parsons from Moore Australia jump onto AD Insider to discuss the current talent shortage in the accounting industry. Sharing their passion, experience and love for the industry, the power duo touches on why the accounting industry is struggling to attract young talent, why they aren't being retained, and what we can do to change it. Like all industry members, Weldon and Parsons emphasise the point that accountants aren't just “number crunchers” but creative minds that help our economy achieve anything and everything. As a collective it is up to the accounting industry, its peak bodies and companies to portray the lifestyle, work, possibilities and opportunities available to young talent in the accounting profession.
Ex-accountant-turned-mindset coach and psychotherapist Danii Nastov shares the importance of overcoming overwhelm in the accounting industry. Like any professional career, there is a certain expectation to be consistently “firing on all cylinders” when in reality, this is neither achievable nor sustainable. Nastov provides insight into her career as an accountant, the overwhelm, stress, and burnout she constantly experienced and how she eventually managed to pull herself out of this cycle. Nastov touches on where this “hustle culture” and expectation comes from, as well as how to recognise and deal with it while maintaining a strong and consistent work ethic.
Partner and director of Accru Felsers, Steven Zabeti, shares key lessons and insights from his long and successful career as an audit specialist. Following his recent award win as partner of the year, Zabeti offers valuable advice to younger accountants aspiring to move up the career ladder and chats about some of the challenges and wins from his own career. He also reflects on the evolution of technology throughout his time in accounting, his firm's approach to innovation, and where he sees the future of accounting heading. Zabeti also discusses how his firm's focus on quality and teamwork has led to its positive client outcomes and the expansion of the firm.
Founder of award-winning firm Latitude Accountants, John Saade, chats to Accountants Daily about his 20-year career in accounting and the bespoke client solutions fuelling the firm's growth. After taking out the award for fast growing firm in the recent Australian Accounting Awards, Saade discusses why his clients value tailored solutions and services that go beyond just a transactional service. He also shares the firm's plans for expansion and why the firm remains dedicated to supporting small-business owners as it expands into new locations around Australia. With many firms struggling to find talent, Saade also chats about the firm's approach to attracting younger accountants by building up the culture of the firm; creating a fun environment; and highlighting the purpose and vision of the firm, which is to support the small businesses in the community. He also discusses some of the challenges that lie ahead in the current economy and how his firm is helping small businesses through more challenging times.
Heather Smith and Tyler Caskey break down the latest developments and features in the accounting technology space for June and July. In this latest episode, technology expert and commentator Heather Smith and Tyler Caskey, partner at The Bean Counters, provide their insights on what's been happening in the fast-moving accounting technology space. Smith and Caskey delve into the developments across the biggest accounting software platforms including QuickBooks, Xero and MYOB as well as some of the emerging features on Ignition, Employment Hero and Dext. They also chat about the establishment of software platform Zoho in Australia with the software provider recently setting up its first Australian headquarters in Adelaide. Smith also shares her valuable tips for training stuff on new software systems.
George Haramis chats about emerging advice opportunities for accountants following advancements in digital advice and what's next for accountantsGPS. AccountantsGPS founder and CEO George Haramis talks to Accountants Daily about what his platform is doing to actively address the advice gap and the barriers facing accountants wanting to provide clients with greater access to advice services. With many clients seeking advice on areas such as super but unable to afford the high cost of advice, digital advice may be a potential solution to meeting these clients' needs. Haramis gives insight into why he started accountantsGPS and what progress has been made since its launch in 2023 with participating firms. He also discusses how offering digital advice services can benefit accounting firms and their relationships with clients. AccountantsGPS is also offering a promotion for firms that want to subscribe and test out the platform. Accountants can use the promocode code WEB100GPS to access: A one-month free subscription for the accountantsGPS platform. A 20% reduction off a monthly plan, for a limited time only to COB Friday, 16 August. Savings between $600pa to $2,900pa. Call 1300 24 24 42 to speak to the accountantsGPS team.
CGW Lawyers partner Fletch Heinemann shares some of the critical considerations for businesses engaging contractors with audit activity in this area on this rise. In this episode, Heinemann discusses two major High Court decisions, Construction, Forestry, Maritime, Mining and Energy Union v Personnel Contracting Pty Ltd and ZG Operations Pty Ltd v Jamsek, and the implications they've had on contractor arrangements. He also explores how the introduction of the Fair Work Legislation Amendment (Closing Loopholes) Bill 2023 affects how businesses determine whether workers are employees or contractors. Heinemann warns businesses on some of the key issues to watch out for when contracting sole traders, including potential payroll tax concerns. With audit activity from both the ATO and revenue offices in this area on the rise, he also provides insight into how businesses should prepare for a potential audit.
Tax debt specialist Olga Koskie explains why it's not all doom and gloom in relation to payment plans and tax debts despite a shift in the ATO's approach. In this latest episode, Tax Assure director and principal Olga Koskie shares what she's currently seeing in practice in terms of the ATO's approach to tax debts and the types of terms it is willing to agree to with payment plans. While the ATO is now firmly back in active collection mode, Koskie says it is still possible for businesses with tax debts to obtain affordable and sustainable payment plans. She sheds light on the factors the ATO is looking at when considering when to grant payment plans and what is likely to lead to a more favourable outcome. Koskie also explains what initial steps businesses with these debts should be taking and how they may need to structure their arrangements based on their specific circumstances, such as projected cash flow.
Heather Smith and Tyler Caskey delve into the latest features, integrations and developments across QuickBooks, MYOB and Xero over April and May. Accounting app specialist Heather Smith and technology enthusiast and partner at The Bean Counters, Tyler Caskey, share their thoughts on some of the recent updates across accounting apps in the past two months. They chat about the release of several new features by QuickBooks including the spreadsheets sync feature and the release of the fixed asset register and some recent integrations on the platform. They also touch on some of the big announcements in the space including Xero's decision to retire Planday and changes with its pricing plans. Smith and Caskey also highlight some of the other useful features launched across practice management and business management software platforms recently.
Cooper Grace Ward Lawyers partner Sarah Lancaster provides an update on the payroll tax issues continuing to plague medical practices and the critical planning needed in this area. In this episode, Lancaster shares some of the highlights from her upcoming presentation at the ACE Accounting Conference & Expo next month. She discusses the potential audit risks facing medical and allied health practices following the rulings that were issued by various revenue offices last year and what firms need to be doing now to manage these risks. Lancaster also sheds light on other payroll tax issues being audited by state revenue offices and where businesses need to improve their record keeping.
A bids and tender specialist has seen a dramatic increase in small to medium accounting firms bidding for government contracts in the past year. In this episode, Jason Cooney, director at The Tender Team, explains why smaller accounting firms have become more courageous with bids for government contracts more recently and some of the reasons for their success. Cooney discusses the types of contracts that smaller accounting firms are winning and how they can stand out from other competing firms. He also offers tips and considerations for the tender process and how firms can prepare to make the process smoother.
Michael Fingland explains the vital role that stress testing can play for businesses in an economy "teetering on the edge of recession". In this latest episode, Vantage Performance chief executive Michael Fingland gives a rundown on the concept of stress testing and how businesses can utilise this strategy to prepare for further headwinds in the year ahead. Fingland explains that with consumer spending pulling back and the economy softening, businesses should be analysing what outcomes might arise with a dip in cash flow, a drop in revenue or with other, more specific, challenges. Businesses can then put in a place a “rapid-fire turnaround plan” that can be implemented if any of these scenarios happen, he says. He also provides his predictions on business conditions for the remainder of 2024 and what the main challenges will be.
Heather Smith and Tyler Caskey delve into the latest technology transformations and feature and functionality updates for the start of the year. In this episode, accounting apps specialist Heather Smith and Tyler Caskey, partners at TheBeanCounters, discuss recent developments in real-time banking transactions, direct digital receipting and multi-currency transactions. They also explore updates and new features in the reporting space across cash flow forecasting, automatic workflows, intercompany loan reconciliations and ESG. Heather and Tyler also chat about some of the big announcements in the accounting tech space including the launch of WorkflowMax by BlueRock and Xero ending classic invoicing later this year.
There are so many amazingly successful women in the finance industry, but only a small number have a strong brand and online presence in this traditionally male-dominated industry. As we celebrate International Women's Day, we want to help more women raise their profile and showcase the incredible professionals in this space. In this episode, partnered by Mortgage Choice (part of the REA Group), we're picking the brain of its executive manager, corporate communications, events & franchise marketing, Sally Chadwick, to find out: How to build a brand presence. The benefits of having a strong brand presence. Top tips to help you get started today. And much more!
Family businesses ripe to pass on often need help after getting stuck in their ways, says the principal of a financial advisory firm. A spike in succession planning in the wake of COVID has created a wealth of opportunities for advisers and virtual CFO services, says one finance specialist. Principal of iFin Capital and iFin Advisory Nathan Hogan said some strong family businesses got stuck in their ways and needed a bit of help make the transfer. “We're seeing a real spike in the last 12 months of this activity of passing on things to generations,” he said on the latest Accountants Daily podcast. “A lot of it really is around really good family businesses that have done well and generally they've had an internal finance manager or someone who's started as a junior and worked their way up. “Sometimes those businesses have the biggest issues because there has been a bit of inaction for a long time and they might not be looking around the corner as much as you would like to see from your CFO.”
Outsourcing will be part of the answer for some, but finding a senior locally will remain a problem, says Trent McLaren. The accountancy profession looks in vain for a talent shortage silver bullet and some firms face a tough decision about whether outsourcing is part of the answer, according to the co-founder of marketing and sales consultancy, Journey, Trent McLaren. “When we say there is a shortage of accountants, we're saying there's a shortage in Australia, right?” he said on the latest Accountants Daily Insider podcast. “There are people in other countries that are happy and willing to do the work that our new generation of people don't want to do. “This is something that some people will have to either bite with, say either I don't want to do any more work, I don't want to win any more fees … or they're going to see more people embrace this global, remote teams type environment, where my team member is just based wherever they need to be.” “There's no silver bullet. That's the thing. Even if I go and load up on offshoring outsourcing, there's still a capability piece that I'll have to draw a line on at some point. “I'm still going to need a senior at some point locally.”
Following the Women in Finance Summit and Awards 2023, we're catching up with some of the leading women in the financial services space. In this episode, we chat to Rebecca Warren, executive general manager of small-business banking at CommBank, about how she navigated a historically male-dominated industry over her 20-year career and why she believes inclusion and diversity are not just morally imperative, but key to achieving superior business results. Tune in to find out: Why she loves commercial finance. The secret power of ‘quiet achievers'. How CommBank is creating a more inclusive and supportive work culture. And much more!
Following the Women in Finance Summit and Awards 2023, we're catching up with some of the leading women in the financial services space. In this episode, we chat to Suzanne Wood, state general manager residential broker Victoria/Tasmania at Westpac Group (and state chair of the Women of Westpac employee advocacy group), about how she climbed the career ladder in banking and the power of having strong female role models. Tune in to find out: How she learnt the art of having difficult conversations. The perils of unconscious bias and how to tackle them. How Westpac is supporting women through the Women of Westpac employee advocacy group. And much more!