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What is the purpose of your website?
Now, before I proceed too far into this subject matter, I will preface this with, I am not an expert in this area at all. In fact, we are just undertaking the redevelopment of our own website at present (watch this space) and have been guilty of issues I am about to mention also. That…
Read MoreFixed Fees – how do many firms set them & what are the pitfalls to avoid
This would probably be one of the most common topics that I am asked about, and probably one of the most misunderstood. The whole debate around fixed fees versus hourly charge rates. So, this is what we see. When speaking with practitioners that implement fixed fees, I’ll ask how they arrived at setting the fee.…
Read MoreThe Importance of Maintaining Your Average Earn Rate
The Importance of Maintaining Your Average Earn Rate Pleasingly we have found the continued rise of earn rates within accounting firms throughout Australia. Not too long along such rates would be $100 per hour, $120 per hour, $150 per hour, however depending on the firm’s location, size, services, types of clients and staff, current values…
Read MoreReal Succession Planning Includes Planning for a Loss of Skill & Expertise
Real Succession Planning Includes Planning for a Loss of Skill & Expertise As will generally be recognised and often read when considering the topic of succession planning, successful succession planning includes a timeframe of at least a couple of years. Having this time enables indepth consideration, review and preparation, all of which is often overlooked…
Read MoreChallenges Facing Practitioners on Salary Reviews
Challenges Facing Practitioners on Salary Reviews Managing personnel would have to be one of the most significant challenges for all practitioners. Today’s world is about employee satisfaction and engagement. There is the constant challenge of hiring, retaining and rewarding personnel. Questions arise around just who are the right type of employees to target for your…
Read MoreTips & Traps to Structuring a Practice Offer
Tips & Traps to Structuring a Practice Offer Structuring an offer to either sell or buy a practice is one of the fundamental pillars in the practice sale/transaction process. Typically, the purchaser would submit an offer to purchase a practice, however the vendor could also define the type of terms that they would like to…
Read MoreOpportunities Galore for Would Be Partners’ Elect within the Accounting Profession
Opportunities Galore for Would Be Partners’ Elect within the Accounting Profession One of the most frequently asked questions we get here is whether there are young people still interested in being partners within practice. If we review the status quo, as the profession continues to age and the baby boomer practitioners amongst us weigh up…
Read MoreEOY Accounting Practice Performance Wrap-Up
EOY Accounting Practice Performance Wrap-Up The New Year has now come and gone and many firms are using this time to plan for the year ahead; using this financial year midpoint to check in against their financial year goals and budgets. With our December Charge Rates, Salaries and Benchmarking Survey released early in December, we…
Read MoreWhat Type of Firms Are Achieving Real Growth
What Type of Firms Are Achieving Real Growth As we head into another year, it is often a time of reflection for practitioners and practices on the year that has been as well as some preparation and planning for the year ahead. What went to plan? What went well? What was the surprise event? What…
Read MoreDon’t Despair, there are other Options than Simply ‘Closing Up Shop’
Don’t Despair, there are other Options than Simply ‘Closing Up Shop’ I must admit, I have been a little surprised of late by the number of practitioners that have advised us that they have closed their practices. In part this is due to retirement and at other times ill health has been a contributing factor.…
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