With more than 100 years combined experience we have extensive and comprehensive experience in all matters of tax and accounting. There is probably nothing we haven’t seen or experienced. The depth of this experience allows us to give you the best possible advice for your outcomes and decisions. Our advice is always based on the challenged of your situation and working with you to provide a solution.

ACCOUNTING

Our accounting services range from providing you with simple bookkeeping services all the way through to the preparation of comprehensive general purpose financial reports. We pride ourselves on producing a high level of pertinent detail and analysis based on where you have been, where you are at and where you are heading. We don’t want to produce just an historical result that will satisfy a tax return compliance. We will work with you in determining your business health and identify ways and means of generating wealth creating. We advise on and ensure your statutory compliance needs are met at all times – whether that be with the ATO, ASIC, Office of State Revenue or the plethora of licensing bodies. We have comprehensive experience in:

  • Preparation of Financial Statements;
  • Full Company Secretarial Duties = including company and trust establishment and registration, business name registration, attending to registrations for ABN, TFN, GST & PAYG;
  • Financial Statement analysis;
  • Advising and developing internal controls, systems, procedures and policies development and undertaking compliance review actions.

Following many corporate financial scandals, various crisies and many other negative local and global corporate events, the spotlight continues to be focussed on the quality of the financial information, both from a qualitative and quantitative perspective.

The following are key financial challenges that we can address:

  • Relevance of the data

Reported information must be relevant & meaningful to its users so that it acts as an aid to enable decisions to be made on that entity’s financial position, performance, risk and business prospects. Outside investors may look at their ROI (Return on Investment) and the perceived risk associated with that ROI. Internal management needs accurate data to effectively operate the business.

  • Understanding the reports

Financial reports must be clear. They must avoid unnecessary complexity or inconsistency that would limit the user’s ability to comprehend the information. For example, they must be able to be understood by the reader/owner.

  • Timeliness

The information must be prepared and communicated quickly to ensure that it is useful in timely business decisions.  The timely presentation of financial statements is an important indicator as to the effectiveness of an entity’s financial management and performance.

It is our accounting experience, the time delay of financial statements being converted from XERO, MYOB and other accounting software into formal financial statements by public accountants, often using different software, is far too long and often produces financial statements that are less meaningful than the client’s produced results.

We have the skills and experience to teach owners, directors and CEO’s how to understand their financial statements and get meaning and direction from them.

The financial statement matrix outlined below is very important:

  • A demonstration of ownership & commitment

There needs to be a strong commitment at all levels of the organisation as to the accuracy, timeliness and meaningfulness of management data and financial statements. This must be consistent throughout the year. We can provide you with advice on ways to achieve this objective.

  • Maintenance of robust risk management practices

A well developed internal control system and a sophisticated risk management system must be consistently capable of preventing errors and fraud.

  • Adoption of sound financial reporting practices throughout the year

Thorough, well thought out, integrated systems and procedures are needed to produce accurate and timely financial reports that are used for management decision making. For example, wages systems, invoice cut-off procedures and stocktakes.

  • Establishing open & constructive relationships between key stakeholders

Roles & responsibilities must be documented and understood.

  • Managing staff and other resources effectively

Maintenance of a highly skilled accounting and finance team supporting a strong financial management culture.

  • Meeting responsibilities

Great governance within the entity and meeting triple bottom line responsibilities should pervade the organisation. For example, profit, social and environmental responsibility.

The above is true for the multi-national companies as well as small to medium enterprises.

We cannot overstate the importance of:

  1. Timely and accurate reporting
  2. Comparatives of actual results to the monthly Budget
  3. Comparatives of actual results to year to date Budget
  4. Documented Minutes on each month’s results
  5. A written action plan based on the results, including a To Do list with names and dates
  6. Divisionalised reporting where applicable
  7. Profit and loss reports per each location
  8. Accuracy and understanding of any Head Office expense allocations

TAX

From these detailed reports we work with you providing comprehensive tax services:

  • Income Tax Returns for Individuals;
  • Companies;
  • Trusts;
  • Partnerships;
  • Joint Ventures;
  • Self Managed Superannuation Funds;
  • Fringe Benefits Tax;
  • GST and Business Activity Statements;
  • Instalment Activity Statements and PAYG withholding requirements;
  • Tax payment reconciliations for income tax, FBT, GST, PAYG and various tax effect calculations and provisions;
  • Tax Planning, effective entity structuring and due diligence;
  • As your agent we liaise with the ATO, ASIC and Office of State Revenue.