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Accounting News

Accounting News from the Experts. Get accounting tips and tricks, and learn about what's happening in the industry.

10 Time-Tested Financial Management Rules for Small Business

Business finance is a sophisticated art that combines numbers and common sense.  A well-managed business financials will help smooth business operations, take advantage of great opportunities, gain long-term business stability and save money for the business. Achieving your business goals will highly depend on how you use, control, manage and monitor your business money.

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Top 8 Business Expansion Opportunities: Which one is for you?

Business expansion is always on the horizon of small businesses. And for most entrepreneurs, expansions are anticipated events. It signifies growth, opens more opportunities and validates the business feasibility of the idea. However, from the viewpoint of most Brisbane accountants, bookkeepers and other business professionals, business expansions are not so simple. They are just as exciting, complicated and risky as setting up the business.

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How Small Businesses Benefit from Outsourcing

Outsourcing is the process of delegating time-consuming, specialised and complex business processes to service providers outside of the company. The goal of the outsourcing concept is to lighten the workload and get experts to handle the work. Outsourcing has long been a practice among progressive businesses. In Brisbane, accounting and bookkeeping, credit collection, logistics, security and housekeeping are some of the traditionally outsourced processes. But with the explosion of the internet, almost anything can now be outsourced. From design work and customer care to promotional writing and marketing campaigns.

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Business Advantages of Going Paperless

Going paperless has lots of benefits in store for your business. The system aligns with clouding, E-commerce, and other online-based business processes. Top Brisbane accountants, bookkeepers, and other business professionals, highly recommend the paperless office system. The perks include being able to access files while you’re on vacation, tightened data security, and faster business processes.

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10 Basic Techniques for Better Cash Flow Management

Cash flow is the ultimate measure of your company’s liquidity. Your Brisbane accountant will classify cash inflow is any cash coming into the business. It can be in the form of cash sales, rent income, A/R collections, loan proceeds, customer deposits, and capital injections. Cash outflow is the opposite, it is the money or cash going out of the business. It can be your paid expenses, business expenses, sales refunds, loan payments, interest payments, and A/P payments.

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Take Control of your Production Costs

Production cost is the company’s cost needed to produce goods and services to be sold. It is the required cost to create income. And this is usually the biggest expenditure of the business. Brisbane bookkeeping rules include the following as examples of production costs – raw materials, depreciation of machineries used in production, plant utilities, and labor costs of production workers and their supervisors.

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