Posts by Michelle Knights
Completing the Sale of Your Practice Doesn’t Finish at the Exchange of Contracts
Are you in the process of selling your practice? Have you found a purchaser and exchanged contracts? Congratulations if you have! However, please know that this is not the end of the process. There still remains some very important activities that need to be performed in the anticipation of settlement and depending on how much…
Read MoreA Snapshot of our Australian Accounting Profession’s Performance in 2022
This year’s cohort of participants in our June 2022 Charge Rates & Salaries Report, released earlier this month, gave us some real hope for improved performances in some of the regularly monitored benchmarks, although there still does remain some challenges. Some highlights from this report include: Profitability has continued to improve, most notably in QLD…
Read MoreThe Impact of Firms’ Return to Work Policies on Staff Retention & Recruitment
Much is continuing to be said about the difficult recruitment market at present, across all industries including the accounting profession, with emphasis being applied on what can be done to differentiate your firm to make it more attractive to potential employees. From most reports, it sounds as though our ability to source and secure good…
Read MoreHave Firms in Locked Down States been More Under the Pump Leading Up to Review Time?
We have all been hearing about, and I would imagine many firms may also have been experiencing, the tough staffing market out there of late, with recruitment and retention front of mind for most within the professions. We previously reported how large sign on bonuses were being offered to personnel throughout Melbourne city and suburban…
Read MoreHow do We Determine ‘Maintainable’ Fees or Revenue when Negotiating a Practice Sale?
This is often one of the hardest conundrums for particularly vendors, and we have certainly seen some interesting approaches. I think the first point to note is that generally the vendor, in our experience, will be quite conservative about what fees they feel will transfer across to the prospective purchaser. Now, I have certainly heard…
Read MoreHave Lockdowns & WHF regimes now Acclimatised our Clients to the Use of Outsourcing / Offshoring?
Now, we don’t want to constantly be mentioning the past two years and the impact COVID has had on, well, just about everything, however this is our new norm. When asking just about anyone anything, most will typically ponder whether the answer or event was pre or post COVID. Whether we like it or not,…
Read MoreFactors that will Adversely Impact the Sale of Your Practice
As you can imagine, I get to speak to many many people looking to sell or buy professional practices, and it often intrigues me as to what some parties may consider favourable attributes or characteristics when in reality they’re actually not. Now, please let me preface this with, the following examples are not intended to…
Read MoreAnnual Leave Management – How will Your Firm Survive?
I touched on this, in part, a couple of months ago as firms began to re-open following Christmas. As the world learns to ‘live’ with COVID and boarders re-open, both nationally and internationally, there appears to be a real sense of spreading our wings and travelling again, particularly abroad and particularly for those who have…
Read MoreAre You and Your Team Back Rejuvenated for the Year Ahead?
Happy New Year. We hope all of our clients and colleagues, their families, staff and firms had a great break over the Festive Season and have returned to offices ready to go for the year ahead. The past couple of years have probably been some of the most challenging in memory for our various generations.…
Read MoreHas the Change in Training Requirements for FP Advisers Prematurely Led to Industry Departures?
I have been reading with interest the varying commentary around the declining number of licensed financial advisers within Australia with a more recent piece reporting a decline in calendar year 2021 alone from around 21,000 to almost 18,000 advisers by year’s end. Reportedly, many of those retiring and leaving the professional have done so based…
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