Blog
August 8, 2018

The Seduction of Growth (gurus)

Are you being seduced by a GROWTH story that could harm your firm? Have you noticed how many growth gurus there are these days. You know the ones, good-looking, silver tongued motivational speakers and authors, bouncing around on stage like they’ve just chugged two energy drinks. Growth gurus have a story, a mantra: Growth is Good. Growth is King. If you aren’t growing, you're dying. Growth is a silver bullet that will solve all your problems. Because if you are…
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Blog
August 8, 2018

2018 M&A Pulse Report

Have you been involved in a merger or acquisition in the past 5 years? Would you like know more about the challenges accounting and financial advisory firms face in successfully integrating following M&A? The 2018 M&A Pulse Report will provide feedback on key aspects of M&A strategies for accounting and financial advisory firms focusing on: Brands, Clients, Teams, Systems and Processes wrapped in Cultural Integration If you’ve been directly involved in M&A deals within your firm (as a buyer or as…
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Blog
July 16, 2018

Happy New Financial Year

It’s the silly season for accounting practices again: busy meeting crazy expectations from clients and scribbling notes to self (as the dollars roll in) – ‘cut hours; increase fees; spend more time with family’. As one door closes, another opens. Banks are hiving off their wealth management divisions as fast as they can, trying to get ahead of the recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services. Blockchain platforms proliferate as fast as opinions…
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Blog
May 16, 2018

Accounting firm values maintain trajectory amid royal commission fallout

Accounting firms that refused to succumb to the allure of financial planning have never looked better. Nothing reinforces the value of a good accountant quite like a federal budget. Morrison’s announcement last week contained no less than 33 tax changes ranging from personal income tax reductions, to instant asset write offs for small business, and tweaks to self managed superannuation funds. Try wading through that quagmire without the aid of a sensible accountant and your sanity intact. Not likely. On…
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Blog
May 14, 2018

Meet Deloitte’s Home-Grown AI That Eats Bank Rec for Lunch

Originally posted by Sholto Macpherson on Digital First: LINK HERE  How fast can you categorise a list of 130 transactions? Could you do it in under an hour? Deloitte has built an app that can do just that, without human intervention. This week in a keynote at Sydney’s Oracle Open World conference, Deloitte’s chief data scientist, Gavin Whyte, showed a slide with the results of a recent machine-learning experiment in bank rec. Whyte had convinced a sceptical customer of Deloitte’s tax and…
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Blog
May 11, 2018

SMSF Audits Under Pressure – Again

Its seems many in the industry are not amused at a sudden decision (pending) to push SMSF Audit out to once every three years. The questions raised is simply does this mean SMSF Auditors can still charge the same fee times 3 or is it they have just taken two thirds of the value off the business that has had many people invest their hard earned money and more valuable, time, without consulting the people who have maintained the Audit…
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Blog
March 12, 2018

How to value a CA firm – Back to Basics

Forget the valuation, sale terms are where mergers and acquisitions are won or lost. The most common question our team get asked at accountancy conferences is ‘what am I worth?’ Of course, what practitioners mean by this is, what is the value of my accounting firm, or a partners’ share of a firm upon succession or transfer? There are usually three reasons for asking this question: someone is buying into or exiting the practice, buy/sell or key person insurance is…
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Blog
February 25, 2018

ANZ Professional Lending Is Back

ANZ is back in the market pushing its profession lending out again. It’s been a long time since we have seen a dedicated product from this bank. Lending 3 times EBITDA after partner salary of $150k. Loans range from start-up to mid tiers (they seem flexible!). They have a great team to give you an indicative term sheet in around 1 week, that’s the official nod - you’ll need all the information though. It’s great to see these guys pushing back in, should bring…
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Blog
February 20, 2018

Why do I need a business valuation, I’m not selling!

“WHY DO I NEED A BUSINESS VALUATION, I’M NOT SELLING!” There are many reasons why businesses (including professional practices) should have an INDEPENDENT business valuation prepared: Buy/Sell Insurance - do you really want to be in business with your business partners life partner (or Trustee)? Or tied up in protracted, costly and soul destroying legal proceedings about extracting the deceased or incapacitated persons market value entitlement. Sadly only about 38% of Australian SME’s have Buy/Sell Agreements in place, n.b. Many Insurers insist on regular…
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BlogProfessional Fit
February 10, 2018

Staying Motivated In Our Sedentary Lifestyle

Move to maximize results in business is something CEOs do to battle the boardroom table and starve off physical and mental illness; why is it many of us don't? “Michael you are an idiot!” Said the doctor to his patient who constanly comes to his practice complaining of a back ache. Although this is just jovial banter between a doctor and his patient, there is an underlying frustration. For years the doctor has been questioning Michael with ‘why don’t you move more’…
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