Let’s face it: no-one likes to think of death, especially their own. It’s not exactly a great conversation starter, is it? This might explain why so many people end up “dying intestate” which means they die without a will and, as a consequence, have their assets distributed according to State law. Sadly, the way State […]
Archive | accounting
10 questions to answer before preparing a will
What would happen to your loved ones if something suddenly happened to you? Not surprisingly, it’s a question many of us tend to avoid. It’s just too hard to remove the emotion from a situation where you imagine you’re not around anymore. And making clear decisions in the best interest of those you love is […]
Small Business Owners: The Best Way to Budget for the Future of Your Business
Any business that isn’t planning for the future is planning to get left behind. While most business owners know that budgeting is a critical part of their planning, there is some confusion about which components should be included in a budget. There are three critical elements. Together, they provide the oversight you need for your […]
Why Business Budgeting Is More About Being Accountable, Than It Is About Accounting
For many, the word ‘budget’ is about as appealing as the word ‘diet’. It seems to imply what you will go without, rather than what you will achieve. To a successful business owner, however, the word ‘budget’ has a very different meaning. It’s more like a map than a diet. It’s an outline of where […]
How and why you should benchmark
This article explains why benchmarking is important in businesses. Find 6 easy steps to follow to implement benchmarking.
7 ways to get more money into your super fund
Have you been doing the numbers and panicking a little recently? If your super fund is a little ‘light’ as you start to think ahead to your golden years, you’re not alone. Millions of Australians are reviewing their retirement plans. We have been taught to believe that the money that flows into our super fund […]
SMSF tips: When is a Self-Managed Super Fund the right choice?
Is an SMSF right for you? Here are 6 pros and 5 cons to consider before setting up a Self-Managed Super Fund
Business Owners: 5 types of insurance you might be overlooking
Whoever said, “You can never have too much insurance” obviously never had to pay the premiums. Still, there’s no denying the fact you need it to protect your business and its assets. So you probably have building and contents, public liability and public indemnity insurance. But what else should you get cover for? What else […]
Key Person Insurance: Could your business survive losing one of its key people?
As much as you try to share skills, knowledge and information in your company, you probably have some people who are key to your business’ success. It might be a Director or the CEO, whose vision made it a success in the first place. It might be your star salesperson, or someone in your IT […]
Cash Flow Problems? 4 Apps to Help You with Cash Flow Forecasting
A cash flow forecast is a plan that shows how much money a business expects to receive in and pay out over a given period of time. If a business runs out of cash and is not able to meet its obligations such as paying suppliers, creditors and staff, it will become insolvent. It is never […]