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What services are you going to provide in 2017 which create a WOW factor? Last week we talked about Chief Financial Officer services, Debtors' Management, Personal Property Securities Register Due Diligence (a major risk management area) and Succession Planning. Today I want to move further into other services that accountants and business advisers can perform to help your clients overcome...
As we get near the end of another calendar year it's an appropriate time for accountants to be asking yourselves what services will your clients want in 2017? There has been a lot of debate over the last few months about tax returns and how much reliance clients are placing on accountants to prepare tax returns, but I think we need to think of the bigger picture; what do your clients want?...

Risk Management – Debtors

Accountants, small/medium enterprises need your assistance with risk management. In big business, public companies the CEO traditionally turns to their Chief Financial Officer or company secretary for advice on risk areas within the business. One of the biggest risk areas is Debtors.  Debtors are a major risk for small/medium enterprises.  Australia is lagging behind the World in terms of...
Risk management is an accepted subject for accountants to enquire about with your clients relative to covers, policies that have been enacted etc.  This can cover items such as: insurance, business risks; looking at commercial compliance legal environmental corporate governance and at least another half a dozen risks that affects businesses. Most accountants do make enquiries...

Early Stage Innovation Company Process

Accountants, you are needed in the ESIC process.  The Early Stage Innovation Company amendments to the Income Tax Act have instigated the first lot of publicity about a company which was actually going through the verification process. The company, a Perth company called Epic Delivery, had difficulty in satisfying the Australian Taxation Office that it qualified under the Principles Based...
Accountants, do you really know your clients?  At the ATSA Conference in Melbourne a couple of weeks ago, a number of the presenters referred to the concept of "trusted adviser".  Are you the "trusted adviser" to your clients?  It's an interesting question and I intend to explore that further next week. For today, lets concentrate on do you really know your clients?  Surely part of the...
At the Australian Technology Showcase for Accountants (ATSA) in Melbourne last week, many new types of innovation for accountants were presented by the various presenters and businesses that displayed their goods and services to the accountants who attended. CCH iFirm and CCH iQ confirmed the Early Stage Innovation Company legislation as a significant opportunity for accountants to illustrate...
This is part of our theme over the last three or four issues of Accountants Minute when we've been looking at what you need to do to add value to your clients' businesses. Innovation is very much in vogue.  Accountants need to be looking at innovation just as other businesses have to.  It's quite appropriate, in this week of ATSA 2016, to revisit some of the comments that were made at...

Business Advisory Services a Key Product

Hello, I'm Peter Towers, Managing Director of ESS BIZTOOLS.  Welcome to Accountants Minute. Over the last few weeks we've had a series within our Accountants Minute articles as part of Adding Value to Your Clients.  These articles looked at where are you now?  We also asked you to look at the challenges that are facing accountants and advisors over the next twelve months, two years through...

Assistance is Available for Accountants

Assistance is available for accountants and advisors to help you add value to your clients' businesses.  This is a continuation of the theme on "How can Accountants and Advisors add value to Clients Businesses?"  Some of the work relates to business advisory services and offering a virtual chief financial officer service. Let me make a very important comment.  There have been some comments...
It's a great time to conduct a review of your business. Here's a few questions you should be asking: Are you supplying services that your clients want? What do you think your firm is going to look like in five years' time? What are your firm's points of difference? Who are your clients? What industries are they from? Do you know what the top five industries are for your clients? What are...
This edition is part of the series on "Adding Value To Your Clients’ Businesses". Let’s look at some of the challenges that are facing you as professional accountants and advisors in 2016/17...... Regulators First of all, let's look at the regulators. The ATO is making a number of changes, including Standard Business Reporting (SBR).  These changes are expected to have a...
The Australian government has introduced legislation to assist innovative companies to be able to raise capital.  This legislation, which commenced operations from 1st July 2016, is called the "Early Stage Innovation Company".  An Early Stage Innovation Company will normally be a small/medium enterprise, an inventor who, at this stage might not even have a company or an entrepreneur.  At...

Government Grants Could Assist Your Clients

Hello, I'm Peter Towers, Managing Director of ESS BIZTOOLS.  Welcome to Accountants Minute. Today we're going to look at government grants.  Some of the government grants offered by the Australian government are available for small/medium enterprises and as accountants and advisors I hope that you're aware of these grants so you can advise your clients about them. Industry Skills Fund...

Tax Incentives for Early Stage Investors

The Early Stage Innovation Company legislation offers significant taxation benefits to eligible investors. To make Early Stage Innovation Companies work there has to be investors. Investors can qualify for two major tax incentives: 1. the 20% tax offset - which is available for sophisticated investors - up to $200,000 and for retail investors up to $10,000; and 2. the capital gains tax...

Promoting ESIC to Clients and Prospects

Promoting the Early Stage Innovation Company legislation to clients and prospects is going to be a task that, I hope, many of you will participate in over the next few months. The legislation is targeted at small/medium enterprises, inventors and young companies, particularly those that have been involved in research and development, have been admitted to the Accelerating Commercialisation...

Affiliates Wanted

Become an affiliate and earn additional income.
ESS BIZTOOLS’ AFFILIATE CAMPAIGNS
ESS BIZTOOLS is conducting a series of product campaigns for sales of products/services to accountancy businesses, business consultants, advisers and bookkeeping businesses.
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SMALL/MEDIUM ENTERPRISE MARKET
We have launched the ESS Small Business website which is primarily targeted at small/medium companies and enterprises as well as not-for-profits, charities, sporting and social organisations.

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