recurring income overtook active non-recurring income that his life as a firm owner became much easier, he said. In the last five years, Mr Oates noted that 70 per cent of his firm's income was from recurring revenue, of which a large percentage of that...
employers telling us that they need, what skills and technical knowledge do they need,” Professor Helliar said. “Over the last decade, we have focused a lot more on the skills side rather than the technical accounting side. Most students do a lot of...
the accounting profession, and is calling on universities to work with industry bodies in developing more relevant courses. Last week Dean Sammut from MMT Accountants and Advisors was awarded Rising Star of the Year at the 2017 Australian Accounting...
graduates and their future employers are looking for. Professor Guthrie noted that the new education standards introduced last year by the IFAC were of very high quality; however, whether they are being applied in an Australian context is an important...
the government should prioritise accounting the way it has prioritised areas like health and STEM. The report, released last week, recommended 47 changes to guide the future of Australia’s tertiary education system, setting ambitious growth targets like...
per cent lower than just prior to the COVID-19 pandemic. “The unemployment rate was 0.5 percentage points higher than June last year, and 1.1 percentage points lower than March 2020.” This all said, employment grew by 42,000 people (0.3 per cent) in...
and comparability of the financial information available on the ACNC Charity Register, which had 3.2 million searches last financial year. And an added benefit of disclosing such information is that it may allow us to explore more ways to cut red tape...
Type:
Article
Author:
Anna Longley, Australian Charities and Not-for-profits Commission
time, even years before this can happen. Eventually, we will simply tick “final payrun” and the figures will be reported as last figures (or payment summary) to the ATO. What if I make errors or need to change a pay that has already been reported?...
Join Alan FitzGerald, the ‘software whisperer’ from Practice Connections to find out how your practice can benefit from the ever-evolving tech landscape. You’ll learn: Why accounting technology is the friend, not foe of the smaller firm Get practical...
reporting system data helped it uncover nearly $100,000 in tax evasion. Appearing before the Brisbane District Court last week, Ben Ogden was found to have underreported sales income across four quarterly business activity statements, lodging $85,359 in...
million in quality assets in Queensland, Victoria and New South Wales. Recently we have seen an increase in inquiry, and our last offer, a Hospitality Trust in Bundaberg, was over-subscribed in less than three weeks. We’ve also seen strong enquiry for...
Type:
Article
Author:
Steve de Nys, Stronghold Investment Services
that similar reforms might take shape in Australia, after recommendations handed down by the inquiry, released in November last year, cast emphasis on ASIC and the Financial Reporting Council to define audit and non-audit categories, and provide clarity...
move highlights the need for leaders to start thinking about the ways they will repay the economic costs shouldered over the last couple of years, as economies move to live with COVID-19. “The Morrison government is not immune from this, Australia has...
to account for any shortcomings that might be identified.” Breaches cited by the FRC include a $US100 million fine on EY last June — the largest ever imposed by the US Securities and Exchange Commission on an audit firm — for “cheating by its audit...
and be funded by an industry levy. The proposed reforms follow mounting concerns over the UK’s audit market over the last two years. The UK’s Competition and Markets Authority released a final report on its audit services market study in April 2019,...
competition concerns in the audit market are opening up big questions around the future of audit on an international level. Last month, the UK’s Competition and Markets Authority released the final report of its audit services market study, recommending...
of a spike in job growths, with recent figures by the Australian Bureau of Statistics showing over 61,000 new jobs in the last month. “There has been an uptake in activity in the small business space, as more than 50 per cent of employment comes from...
optimistic about the timeline for recovery, with 36 per cent stating they expect the pandemic and its economic effects will last for six to 12 months, and another 26 per cent predicting recovery to take another year or two, possibly longer. MYOB chief...
conditions.” The survey of 1,021 people aged 18 years or older was conducted with YouGov between 9 October to 11 October last year, with data weighted by age, gender and region to reflect ABS population estimates. It found 65 per cent of respondents had...
confidence in their revenue performance, business operators have reported increasing pressure on their operations over the last five years. The survey highlighted a number of leading pressures like fuel prices, cash flow, price margins and the timing of...
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