Self Managed Super Fund - Things needs to know before deciding
Self Managed Superannuation Funds (SMSFs) are the fastest-growing fund type in Australia. The report from ATO indicates as on March 2016, there were total 572,434 SMSFs representing 1,085,286 members with total net assets of over $570 billions.
However, it should be noted that SMSFs aren’t for everyone. Administering your own super fund can be complex and as a trustee or director of the trustee company, you need to comply with many legal obligations... Read more
Outscoring: Your business strategy for cost saving and quality in operation
There are a few things that you should know before deciding to outsource your work. First you need to establish goals of outsourcing i.e. what are you planning to achieve though outsourcing? Also you need to clearly define the processes in your business that can be outsourced.
As a basic rule, you should manage your core activities in-house while the supporting and administrative activities may be outsourced based on the cost benefit analysis. Some of the ways outsourcing can benefit... Read more
Create a simple but effective budget for your business
An accurate, useful budget can be a valuable decision-making tool to analyze potential business threats and opportunities and help entrepreneur make sound strategic and disciplined choices. This article introduces a simple approach to creating an effective budget for small and medium size businesses.
A budget is a financial plan that incorporates a business’s overall strategic goals and objectives. It should be used as a management... Read more
Cloud Accounting - Easily accessible financial information with low on budget!
Cloud accounting is a good way to reduce your accounting cost, increasing quality of output at the same time. Apart from saving cost purchasing and maintaining expensive accounting software, it also facilitate outsourcing of your accounting function.
Cloud accounting, also referred to as “online accounting”, serves the same function as accounting software that you would install on your computer, except it runs on our servers and you access it using your web browser, over the Internet. Your data is securely stored and processed.. Read more