accountants
The Christmas decorations started going up in shops just after Father's Day in September. If it gets any earlier we'll be experiencing Christmas in July.
If you thought reaching an agreement on price was difficult, wait until you get to the fine details of buying or selling a business.
A large number of businesses, particularly those in the services sector, receive prepayments from customers for future services - in some cases these are deposits and in others, part or full payment for the anticipated service. Often the contract terms provide that there is no refund of the prepayment if, ultimately, the customer does not take up the service.
You are looking to buy a small business. You see something you are interested in: right industry, right location but is it the right price? In today's market everyone is looking for a bargain. The difficulty in assessing the price of a small business is that there may not be a lot of ready comparisons available in the market. If you are looking to buy a business where there is a large and active market - like a newsagency, pharmacy or coffee lounge - then comparisons will be available. And, there are industry models that typically set the pricing for these types of business. However, if you are looking at a more unique business where there is not a lot of public information, the going can get tougher.
If your SMSF has borrowed money (or thinking of borrowing money) to acquire ‘bricks and mortar' property then there are a few things you need to know.
Australia has progressively fallen behind in the Global Innovation Index for the last few years. Last year alone, Australia slipped three places from 18 to 21 (Switzerland, Sweden and Singapore were the top performing countries).
If the Government holds on to power, Dads will qualify for two weeks paid parental leave from 1 January 2013.Like the existing paid parental leave scheme, the 'Dads and Partner Pay' is paid at the minimum wage - currently $589.40. The payment applies to Dads and partners sharing the care of a new born (including adopting parents and same sex couples).
We are often asked whether it's possible to offset a loss in one company against the profit in another. The answer is that there is no automatic way of offsetting losses and profits between your companies.
If you are finalising your end of financial year accounts and calculating your tax position, keep in mind that there are still options available to save you tax. One of these options impacts on the valuation of your trading stock and if stock is a material asset in your business, you should most certainly consider it. This option provides you with different valuation methods that can be applied to your trading stock.
Focus on the customer experience. What's it really like dealing with your business? Do a blind test and see whether your business and your team really want customers and sales. For most businesses, you're not delivering a product/ service, your delivering an experience.