The Hidden Cost of Cloud Accounting
The Hidden Cost of Cloud Accounting By all accounts, the use of cloud software and applications is the direction of the future. In the not too distant future, all businesses and many service providers will be working either solely or substantially through the cloud. Fantastic, great, bravo many are saying, and while no doubt there…
Read MoreWhen Experience & Skills are Counterproductive to Equity Opportunities
When Experience & Skills are Counterproductive to Equity Opportunities As many firms will confirm, succession is a real and present issue. Statements that we often hear from practices in search of internal succession options are ‘none of our staff wish to be equity holders in this firm’ or ‘none of our staff are partnership material’.…
Read MoreSOLD IN < 4 MONTHS: PPQ03497 – Southern Sunshine Coast Accounting Practice for Sale
This practice was sold in less than 4 months In search of a consistent steady revenue stream to support the commencement of your own practice or looking to bolster an already operational practice? If so, this is an opportunity too good to miss. This is a long standing firm with dedicated personnel and fees circa…
Read MoreWhy the Least Loved Basic Tax Return could have a Silver Lining
Why the Least Loved Basic Tax Return could have a Silver Lining The basic ‘I’ return is probably one of the least loved compliance requirements of the current tax system. Most firms endeavour to avoid attracting such clients or having to complete such work unless of course they are part of a larger family group…
Read MoreThe Impact on Client Retention when Selling to an Unfavourable Firm
The Impact on Client Retention when Selling to an Unfavourable Firm When selling a firm, most vendors say to us that they want to find a new home that will look after their clients and staff well. In essence, most parties want a transaction to be successful. We want the clients to be happy and…
Read MoreWhen 70 is NOT the new 60
When 70 is NOT the new 60 Whilst the latest intergenerational report may be suggesting a longer working life for the younger generations of Australians, current clients of professional firms and advisers don’t seem quite ready to stay on with our senior practitioners. Conversely however, despite all that has been written and anticipated over the…
Read MoreWhat Can Our Long Standing Senior Clients Share with Us about Succession & Business in General?
What Can Our Long Standing Senior Clients Share with Us about Succession & Business in General? We have just concluded our nation-wide presentation tour on ‘How to Sell or Buy a Practice Successfully Without using a Broker’. On one leg of this tour I was collecting my thoughts in my hotel when I overheard two…
Read MoreAre Practice Sale Prices at a Premium or is Practice Equity Available at a Discount?
Are Practice Sale Prices at a Premium or is Practice Equity Available at a Discount? As part of our annual presentation series on buying or selling a professional practice, I make the statement that ‘the price a practice can or will sell for as a whole of business sale in the open market differs to…
Read MoreWill the Professional Bodies Fight for the Continuation of the Accountants’ Exemption?
Will the Professional Bodies Fight for the Continuation of the Accountants’ Exemption? Anger is arising. July 2016 is a milestone date for many practitioners who don’t already have some form of financial services registration or qualification. From this date, the words ‘self managed superannuation fund’ will become almost impossible for many practitioners to use. To…
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