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Accounting and Finance (Page 6)

Finance, Taxation, Insurance and Accounting related articles

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

Irony: noun; the expression of one’s meaning by using language that normally signifies the opposite, typically for humorous or emphatic effect. I’ve got this mate, well, more a long term acquaintance really. Known her since I was in my teens. Purely platonic relationship over the past 40 years and we still catch up regularly to this day. She was pretty popular back in the day and had most of the local boys tied in knots. Even after 40 years she’s still a very attractive lady, super intelligent and very professional, at least to the casual observer. She’s had an interesting life and recently called me to seeRead More →

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

Bob Was Right The Stones said time is on our side.  Prince said it was a sign of the times. The Foo Fighters said times like these. Bob said it best Come gather ’round people Wherever you roam And admit that the waters Around you have grown And accept it that soon You’ll be drenched to the bone. If your time to you Is worth savin’ Then you better start swimmin’ Or you’ll sink like a stone For the times they are a-changin’. Bob Dylan , The Times They Are A Changin’, 1964 Life moves pretty fast and, as Ferris Bueller wisely noted, if youRead More →

In: Accounting and Finance

Contributed By: FNX Finance Group on

Today we present the fifth in our series of analysis on the selling market for Management and Letting Rights (MLR).  We have been collating this data quarterly since June 2017 and the following is a broad summary;      – Stock levels continue their growth which commenced in January 2018.  There is now $1b of MLRs on the market.      – This has largely been in the Permanent and to a lesser extent the Corporate space.      – The average listing period of all buildings has been 71 days in the last quarter.  With an additional 90-100 days to complete settlement.      – There is about 0.2x lower multiplier for Standard AgreementsRead More →

In: Accounting and Finance, The Management Rights Market

Contributed By: Mike Phipps Finance on

Rules are interesting. Some think the more rules the better while others subscribe to the school of discretionary decision making. I am a fan of some common sense latitude in most decision making processes, particularly those involving the individual merits of a finance application. It is true that many cry out for absolute certainty in all things finance. Problem is, hard and fast rules will inevitably gravitate to a lowest common denominator environment where we will all be compelled to walk as slow as our slowest borrower. Have a look at some of the people giving evidence at the banking commission and I would proposeRead More →

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

Don’t it always seem to go That you don’t know what you’ve got til its gone They paved paradise And put up a parking lot… Joni Mitchell Big Yellow Taxi 1970. The story goes that Mitchell was inspired to write this tune on a trip to Hawaii. She threw open the hotel curtains to take in a mountain vista and was confronted by acres of concrete car park. We will come back to Joni later. This month’s dispatch comes to you from various locations in Switzerland and Italy where the managing director and I are taking in the so called holiday of a life time.Read More →

In: Accounting and Finance, Body Corporate, Events, Facilities Management, General Interest, Legal, The Management Rights Market

Contributed By: Nick Buick on

I frequently speak with managers who are frustrated by the standard of service offered up by so-called specialists in Management Rights, who in reality, have limited experience and knowledge of this industry and result in unnecessary professional fees and cost blowouts. Existing “industry accreditation programs” appear to me as little more than pay-for-play operations that exist purely to sell magazine advertising, where anyone can be ‘accredited’ if they simply open their chequebook. This doesn’t help our industry, in my opinion, as such we have set out to develop a program that has complete financial independence and is entirely merit based, as measured by the managementRead More →

In: Accounting and Finance

Contributed By: Mike Phipps Finance on

I was once told that the definition of a consultant is someone who steals your watch and then asks you the time.  I have also heard that a good accountant, when asked the total of 2 + 2 will reply, “What would you like it to be ?” Perhaps fortunately, in our world, things are a bit more cut and dried.  We are certainly seeing a quantum shift in the banks’ approach to loan assessment and obviously the various investigations and commissions currently under way are driving a far more conservative credit environment. Interestingly, this is leading to a refocus on lending fundamentals and, inRead More →

In: Accounting and Finance, General Interest

Contributed By: Mike Phipps Finance on

For those of you who may still think the photo I use in some articles is current, it is not. The look of shock on some faces when we first meet suggests that it might be time to update said image and nothing confirms my retreat into older age more than recent events.  Yes, it’s true.  The managing director and I have purchased a caravan.  But Mike, you’re too young I hear you cry.  Nonsense, the MD may be too young, child bride that she was, but I am certainly age qualified. In fact, I know of several other industry specialists who call something onRead More →

In: Accounting and Finance, General Interest, Landlords, Tenants, Renting and Management

Contributed By: Real Strategix on

Your trust account and the way you operate it is your lifeline. When dealing with thousands of dollars there are 2 types of people. 1) Honest 2) Dishonest There is no in between. As a managing agent, landlords are trusting you to handle their income with honesty and integrity. After many years in the industry, I have performed end of months with as little as $2000 in the trust account and as great as $200 000 in the account. Each time the money, system and process were treated exactly the same……with care. One property or 1500 properties, each state of Australia has regulations and rules inRead More →

In: Accounting and Finance, The Management Rights Market

Contributed By: FNX Finance Group Pty Ltd on

The general tightening of the market we reported upon from June 2017 to January 2018 appears to be have ended and the listings’ for the businesses are now growing again and the time on the market has gone up 10 days to 86 days on average.  In the May18 quarter 73 more businesses came onto the market than the previous quarters.  The multipliers also reduced slightly which have been a result of the market conditions.  Data provided by TheOnSiteManager.com.au ‘On the Market Analysis’ – Market Pulse · The difference in Purchase Price because of the agreement type is; · 92% of all Stock is for sale inRead More →

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