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Accounting and Finance (Page 3)

Finance, Taxation, Insurance and Accounting related articles

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

We have talked in the past about our view that we are moving into a tighter credit environment in which bank lending guidelines will become stricter. We also talked about challenges existing borrowers are having with annual business loan reviews and extended interest only periods. I am less than delighted to announce that for once our predications have come to fruition. Daily feedback from borrowers suggests that times are indeed becoming challenging both for new borrowers and for existing operators. To be frank some of the concerns raised with us are of the borrower’s own making and reflect a lack of understanding of the termsRead More →

In: Accounting and Finance, General Interest

Contributed By: Mike Phipps Finance on

I guess I should start this month’s massive with a welcome to 2023. Doesn’t seem that long ago that we were stressing about the Y2K bug and now here we are, 23 years later. For those of you too young to remember, the bug was essentially a “the sky is falling” event predicated on an expectation that computers worldwide would be unable to cope with the year 2000 due to recognition software that only identified the last 2 numbers in a year. The fear was that 2000 and 1900 would be indistinguishable to computer systems and all hell would break loose. The global spend toRead More →

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

“Here is wisdom. Let him who has understanding calculate the number of the beast, for the number is that of a man; and his number is 666.” Revelation 13:18 From the best-selling book of all time. “Woe to you, oh earth and sea, for the devil sends the beast with wrathBecause he knows the time is shortLet him who hath understanding reckon the number of the beastFor it is a human number, its number is six hundred and sixty-six” The Number of the Beast -, Iron Maiden 1982. From the best-selling album of the same name. The opportunity to quote Iron Maiden and the BookRead More →

In: Accounting and Finance, General Interest

Contributed By: Mike Phipps Finance on

I’m the first to admit I don’t “get” crypto currency or the trading that seems to underpin the price. What I do get is that a company called Berkshire Hathaway and a bloke on it’s board called Warren Buffet have been making mostly sound investment calls for a while now. Mr Buffet has variously called bitcoin “rat poison squared” and stated that he wouldn’t buy all the bitcoin in the world for $25. So far as I can tell crypto / bitcoin / whatever is underpinned by a singular value proposition. It’s a proposition as old as time itself……..speculate and hope there’s a bigger mugRead More →

In: Accounting and Finance

Contributed By: Alex Wilson - Archer Gowland Redshaw on

For all businesses, regardless of size, maintaining confident and accurate financial information is essential in building a successful venture. Therefore, ensuring you have the appropriate bookkeeping functions and systems is critical moving forward. In mid-2021, the Bank of Queensland (BOQ) highlighted the top ten reasons small businesses fail within a five-year period in Queensland. One of the core reasons pertained to financial mismanagement, with BOQ commenting a lack of understanding in managing cash-flow and urgency in maintaining financial responsibilities as some of the biggest factors. Often, owners get caught in the traps of day-to-day operations – ignoring the time to maintain and review financial records.Read More →

In: Accounting and Finance, General Interest

Contributed By: Mike Phipps Finance on

Travel anxiety is the fear of visiting an unfamiliar place. It can also involve the stress that comes with planning your travels. Even if you have no history of anxiety, the idea of being outside familiar territory can throw you into panic mode. There’s a lot of life affirming stuff on social media these days. There’s also a stack of people leading us to believe they are leading fruitful and happy lives with not a care in the world. I contend that much of this has the potential to give us a warped view of the world and some unrealistic expectations. In fact, I thinkRead More →

In: Accounting and Finance

Contributed By: Resort Brokers on

Management Rights’ industry worth $4.8b in Australia, according to groundbreaking reportManagement Rights contributes a staggering amount to the Australian economy, with $120 billion of accommodation assets under management, according to an industry first report.ResortBrokers today released the Management Rights’ Report 2022 – the only one of its kind in Australia – which examines the vast impact of this accommodation industry sector.The inaugural report is a game-changer for the industry with ResortBrokers utilising its bespoke, back-of-house research system to collect and collate the data from around Australia.Findings by ResortBrokers Research reveal: $4.8b estimated total value of the MR industry 3,679 number of schemes nationally 250,652 numberRead More →

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

“It’s the End of the World as We Know It (And I Feel Fine)”R.E.M., 1987 It has come to my attention dear readers that my most popular missives involve tales of travel and preferably unfortunate events befalling me. So, at great personal sacrifice and to get the inspirational juices flowing I have taken myself off to Switzerland. Well, Switzerland, Italy and France to be precise. That my departure from Australia’s fair shores has coincided with our new prime minister realizing he’s inherited one very poisonous chalice brings me no joy. I guess I can take heart from the miracle of internet news which allows me toRead More →

In: Accounting and Finance

Contributed By: Greg Rankin - Archer Gowland Redshaw on

For Management Rights owners, remaining compliant with governing standards is an essential business and licensing requirement – regardless whether you are a seasoned operator or new to the industry. As operators, your business is required to be audited twice per year in accordance with the Property Occupations Act 2014 and the Agents Financial Administration Act 2014, therefore a lack of systemisation to support this process or failing to identify & rectify mistakes which commonly occur can be a costly & lengthy endeavor. We’ve highlighted some of the common mistakes we come across on Trust Account audits, helping ensure similar issues don’t arise for your business in the future. NotRead More →

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

There’s a bloke in France working on an idea to use commercial passenger jet cargo space for paying guests. Apparently if the idea works, passengers will get some sort of view from a converted loading door and the space will be designated as premium. As cargo bays are pressurised there’s plenty of oxygen so all that needs doing in order to be comfy is some form of temperature control. Cargo bays get a bit cold and moist at 30,000 feet I’m told. I had cause to reflect on all of this previously useless information recently, we’ll get to that ! This year marks an importantRead More →

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