Business people are looking for more accurate financial information as to what the effect of their decisions will be on their future operations by utilising 'predictive accounting' which incorporates 'key driver budgeting' to prepare Budgets, Cashflow Forecasts and Predicted Balance Sheets relating to their future operations. In the next COVID-19 Survival Panel webinar will be presented on Friday, 23rd October 2020 with the theme relating to “Predictive Accounting”. The keynote presenters are Paul Barnaby, Regional Integration Consultant, Asia-Pacific PlanGuru, CEO Beyond Accounting Pty Ltd, a Predictive Accounting consultancy firm and Peter Towers, Managing Director, ESS BIZTOOLS.   Read The Full Article Here

Accountant's Minute's Podcast

Predictive Accounting - Being A Forecaster Instead Of A Historian!

“The Australian economy is going to be very reliant on a suitable vaccine for COVID-19 Coronavirus if we are going to get the economy operating as it was in January 2020 once again.  In the meantime, the government needs to be a bit more targeted with its financial support and businesses are going to rely on their accountants to guide them on the best way forward for the operation of their businesses”.  Ashley Evans, Managing Director, AAA Financial Solutions, the keynote speaker in our COVID-19 Survival Panel webinar on Friday 25th September, said today. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=292&Itemid=639

Businesses Want Broader Range Of Services To Continue!

"The key group of clients that accountants should be promoting the concept of Business Advisory Services to, are any clients who are receiving JobKeeper payments", said Mark Holton, Director, Smithink Pty Ltd in the previous COVID-19 Survival Panel webinar. These clients were obviously running sound businesses prior to the challenges of COVID-19 and many of them will need your assistance to be able to recreate the business activities that they had in operation, prior to the lockdowns and other problems that have been caused by the virus. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=286&Itemid=639

Promote Business Advisory Services to Clients Receiving JobKeeper

How good is your relationship with your clients? One of our keynote speakers in our COVID-19 Survival Panel webinar for accountants on Friday, 14th August 2020, Amanda Gascoigne is an experienced Chartered Accountant. She has been a small business owner for 21 years and had her own accounting practice for 18 years working primarily with SME clients. She has pivoted in recent years and now helps small and solo accounting practice owners have better practices and better lives and also helps them have better relationships with their clients through her coaching and mentoring business exclusive for accounting practice owners. One thing that Amanda realised while in practice was that a large proportion of her new clients’ previous accountants, weren’t proactive in selling them advisory services. Their practice model was to simply provide the compliance services the clients asked for and they were hesitant to suggest value added services such as tax planning, budgeting and cashflow planning and business planning...   Read The Full Article Here    

Interested in Offering 'Business Advisory Services' - But Don't Know Where to Start?

Will Business Advisory Services be the number one product in your firm? Business Advisory Services was nominated by the accounting firms interviewed by the Commonwealth Bank’s Accounting Market Pulse as the “practice area to be in the most demand in 6 to 12 months of 2020/21". Have you developed a strategy of how you can offer a range of services to assist your clients to organise themselves so as to maximise their opportunity to survive COVID-19 Coronavirus? Business Advisory in a COVID World In our next COVID-19 Survival Panel webinar for accountants on Friday, 28th August 2020, Mark Holton, Director, Smithink Pty Ltd and well-known presenter at accounting conferences, will outline a further series of strategies following on from the presentation, “Business Advisory in a COVID World”, that he presented in early July 2020.   Read The Full Article Here

Delivering Business Advisory Services Whilst Positioning Yourself As An Expert

“Business Advisory Services” – highlighted by the Commonwealth Bank’s “Accountants Market Pulse” report has been the activity identified by a group of accountants as being their main priority for the next 6 to 12 months – What is happening in your firm? Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=281&Itemid=639

Advisory Services & Business Funding Are Important Products for SMEs

The Prime Minister has announced significant changes to the JobKeeper Programme from 28th September 2020 with the programme being extended until 28th March 2021 following some changes.  From 28th September 2020 the current flat $1,500 a fortnight subsidy will be replaced by a 2 Tier System. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=279&Itemid=639

JobKeeper Extension is Some Clarification for Businesses

 Greetings from ESS Small Business – the challenges for business operators continues with the ever changing circumstances of COVID-19 coronavirus. The ever changing situation in Victoria and now New South Wales with Queensland imposing selective border restrictions targeting Victorians and Metropolitan Sydney is all highlighting a significant degree of nervousness for the business community. The next week will be a big week for Federal government announcements culminating in the Economic Statement to be released by the Federal Treasurer, Josh Frydenberg on Thursday 23rd July.   Read The Full Article Here

Management Accounting And Government Grants Can Contribute To Business Success!

The situation in Victoria is a warning to the rest of Australia! The unfortunate situation in Victoria, relating to the significant increase in cases of COVID-19, has highlighted the ongoing problems for business operators and accountants to be diligent about all aspects of business operations so as to reduce the possibility of severe COVID-19 restrictions being reapplied, which will undoubtedly have a significant effect on business operations. All of this highlights the necessity for accountants and business operators to be aware of the ongoing desirability of continuing the implementation of marketing strategies and also having an awareness of key issues relating to legal matters, as they affect professional accounting firms and small businesses and medium-sized enterprises.   Read The Full Article Here

Marketing Success And An Awareness Of Legal Issues For Accountancy Businesses

83 days to go to the end of JobKeeper – will your clients be ready? Business advisory service expected to be the most in demand! The CommBank Accounting Market Pulse for June 2020 has identified that a majority of firms expect Business Advisory Services to experience the greatest demand in the coming 6 to 12 months. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=277&Itemid=639

Business Advisory Services - Crowd Sourced Funding - The Action Areas

Welcome to the New Financial Year on Wednesday! “Accountants Become the 'Centrelink' of Business World” – Financial Review. “The accountant of the future will need to be a compliance expert who can grapple with fast changing rules while providing broader advice to clients about their business” – Financial Review 18th June 2020. Read more: https://www.essbiztools.com.au/index.php?option=com_zoo&task=item&item_id=276&Itemid=639

Business Advisory Services - An Opportunity to Add Value to Your Clients!

Welcome! Preparing Budgets and Cashflow Forecasts early will identify when additional funding is required. This is a very important consideration as we are about to commence a new financial year – with many more challenges and dangers for businesses that have not taken some time out to plan and think about the funding of their businesses – these will be some of the problems that confront accountants in 2020/21. In this week’s "COVID-19 Survival Panel" webinar, Paul Barnaby, Prescriptive Accountant and the Australasian Representative for PlanGuru, will outline the necessity for accountants to be closely involved with their SME clients in the preparation of three-way financial forecasts for the next 3 years to give an insight to the funding that the business is going to require to fulfil the expectations that are contained within the organisation’s Business Plan....   Read The Full Article Here

Predictive Accounting Identifies When Funding Is Required!

 Good news last week for your clients in the building and construction industries and some tradies. The Australian government’s Stimulus Package Number 4 will bring some joy to the building industry, including tradies operating in the house building and renovations industries. In this week’s COVID-19 Survival Panel webinar Peter Towers, Managing Director of ESS BIZTOOLS, will comment on the opportunity that is available for accountants to offer a 'Chief Financial Officer' service to assist your clients to meet post COVID-19 challenges including....   Read The Full Article Here

Now Is The Time!

Welcome! In this week’s "COVID-19 Survival Panel" webinar, Andrew Geddes, Accountant Coach/Mentor and Former Chairman of Greencross Ltd (a top 200 ASX company), will present an update on his advice for accountants on how you can assist your small business and medium-sized enterprise clients to navigate through the difficult trading conditions that will confront all businesses as the COVID-19 support programs – "Jobkeeper”/"Boosting Cashflow" start to run down for most businesses from 30th September 2020. Andrew will pose a question “What Opportunities Are Staring You in the Face Right Now”?   Read The Full Article Here

What Opportunities Are Available And How Can The Entrepreneurs' Programme Assist?

Welcome to winter! It looks like there is going to be plenty of snow in the south and hopefully businesses will be able to recommence operations. Last week Andrew Ward a Foundation Director of Crowdfunding Institute of Australia gave an overview of the crowdfunding industry in Australia. This week Peter Towers introduces research and development activities into this theme because some of your clients may have spent the lockdown period pursuing a research and development idea and they'll need systems and processes to be able to claim the Research and Development Tax Incentive. Next week, we continue the innovation theme when we will introduce Renee Chilton from AusIndustry to give an overview of the Federal government grants that are available to assist people and businesses who have developed new products, processes or services.   Read The Full Article Here

Research & Development Could Be A Positive Outcome From COVID-19

Peter Towers, creator of ESS BIZTOOLS, tools written for accountants so they can quickly and easily offer business advisory services to their SME clients, presents news topics that accountants should be aware of if they work with SME clients.

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Accountant's Minute's Podcast

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