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On this episode of AD Insider, Alan FitzGerald dives into the world of AI and how accounting firms can use it to transform their processes, operations, and services.
Founder of Practice Connections Advisory, FitzGerald shares his extensive experience, knowledge, and personal opinions on AI and how it can elevate the accounting industry during a time of significant change.
Touching on all aspects from benefits and challenges to risks and forecasts, FitzGerald bases his discussion on findings highlighted in the recent Changing the Game report by Intuit QuickBooks. FitzGerald says AI is the way forward for the accounting industry â tune in to this episode of AD Insider to find out why.
If youâd like to discover how Australian accounting firms are leveraging technology to stay ahead of
the competition and secure their future success, download the full report at intuit.me/accountanttech for valuable insights, practical tips, and real-life examples. -
Momentum Media is thrilled to be hosting the sixth annual Women in Finance Summit and Women in Finance Awards in Sydney on 15 November.
In the sixth episode of the Women in Finance Podcast series for 2024, sponsored by CPA Australia, host Imogen Wilson is joined by Jenny Wong, tax lead of policy and advocacy at CPA Australia.
Tune in to hear about:
How Wong found herself working within the tax advisory space. The benefits and challenges working in tax can present. Advice for young up-and-coming women in the tax profession.And much more!
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Fehlende Folgen?
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Parras & Associates accountant Nick Parras and Pristine Finance broker Marinko Radomir share how working together has helped support their clients and strengthened their businesses.
In this latest episode of Accountants Daily Insider podcast, host Miranda Brownlee and Annie Kane, managing editor of The Adviser, speak to Nick and Marinko about their specialisation in high-net-worth and medical professionals and how they work together to deliver the best outcomes for these clients.
Tune in to find out:
How working with brokers can also benefit accounting firms.
Tips for finding broking partnerships that are the right fit for the accounting firm. Shared and unique challenges in each profession. How they work with high-net-worth clients. -
Paul Dove joins Imogen Wilson on this weekâs episode of AD Insider to discuss how outsourcing can benefit accounting firms in light of current issues and industry struggles.
Cloudstaff is a remote staffing solutions provider that helps innovative companies around the globe find their âdream teamâ of staff.
Dove is the senior vice president of sales at Cloudstaff and is quite the guru when it comes to the ins and outs of outsourcing. He shares his personal experience and knowledge of how this mechanism can help transform and alleviate the accounting industry.
Dove chats about his role at Cloudstaff, his personal experience and shares his knowledge of how this mechanism can help transform and alleviate the accounting industry.
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Lana Weldon and Doriena Parsons from Moore Australia jump onto AD Insider to discuss the current talent shortage in the accounting industry.
Sharing their passion, experience and love for the industry, the power duo touches on why the accounting industry is struggling to attract young talent, why they arenât being retained, and what we can do to change it.Like all industry members, Weldon and Parsons emphasise the point that accountants arenât just ânumber crunchersâ but creative minds that help our economy achieve anything and everything.
As a collective it is up to the accounting industry, its peak bodies and companies to portray the lifestyle, work, possibilities and opportunities available to young talent in the accounting profession.
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Ex-accountant-turned-mindset coach and psychotherapist Danii Nastov shares the importance of overcoming overwhelm in the accounting industry.
Like any professional career, there is a certain expectation to be consistently âfiring on all cylindersâ when in reality, this is neither achievable nor sustainable.Nastov provides insight into her career as an accountant, the overwhelm, stress, and burnout she constantly experienced and how she eventually managed to pull herself out of this cycle.
Nastov touches on where this âhustle cultureâ and expectation comes from, as well as how to recognise and deal with it while maintaining a strong and consistent work ethic.
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Partner and director of Accru Felsers, Steven Zabeti, shares key lessons and insights from his long and successful career as an audit specialist.
Following his recent award win as partner of the year, Zabeti offers valuable advice to younger accountants aspiring to move up the career ladder and chats about some of the challenges and wins from his own career.He also reflects on the evolution of technology throughout his time in accounting, his firmâs approach to innovation, and where he sees the future of accounting heading.
Zabeti also discusses how his firmâs focus on quality and teamwork has led to its positive client outcomes and the expansion of the firm.
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Founder of award-winning firm Latitude Accountants, John Saade, chats to Accountants Daily about his 20-year career in accounting and the bespoke client solutions fuelling the firmâs growth.
After taking out the award for fast growing firm in the recent Australian Accounting Awards, Saade discusses why his clients value tailored solutions and services that go beyond just a transactional service.
He also shares the firmâs plans for expansion and why the firm remains dedicated to supporting small-business owners as it expands into new locations around Australia.
With many firms struggling to find talent, Saade also chats about the firmâs approach to attracting younger accountants by building up the culture of the firm; creating a fun environment; and highlighting the purpose and vision of the firm, which is to support the small businesses in the community.
He also discusses some of the challenges that lie ahead in the current economy and how his firm is helping small businesses through more challenging times.
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Heather Smith and Tyler Caskey break down the latest developments and features in the accounting technology space for June and July.
In this latest episode, technology expert and commentator Heather Smith and Tyler Caskey, partner at The Bean Counters, provide their insights on what's been happening in the fast-moving accounting technology space.
Smith and Caskey delve into the developments across the biggest accounting software platforms including QuickBooks, Xero and MYOB as well as some of the emerging features on Ignition, Employment Hero and Dext.
They also chat about the establishment of software platform Zoho in Australia with the software provider recently setting up its first Australian headquarters in Adelaide.
Smith also shares her valuable tips for training stuff on new software systems.
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George Haramis chats about emerging advice opportunities for accountants following advancements in digital advice and whatâs next for accountantsGPS.
AccountantsGPS founder and CEO George Haramis talks to Accountants Daily about what his platform is doing to actively address the advice gap and the barriers facing accountants wanting to provide clients with greater access to advice services.With many clients seeking advice on areas such as super but unable to afford the high cost of advice, digital advice may be a potential solution to meeting these clientsâ needs.
Haramis gives insight into why he started accountantsGPS and what progress has been made since its launch in 2023 with participating firms.
He also discusses how offering digital advice services can benefit accounting firms and their relationships with clients.
AccountantsGPS is also offering a promotion for firms that want to subscribe and test out the platform.
Accountants can use the promocode code WEB100GPS to access:
A one-month free subscription for the accountantsGPS platform. A 20% reduction off a monthly plan, for a limited time only to COB Friday, 16 August. Savings between $600pa to $2,900pa. Call 1300 24 24 42 to speak to the accountantsGPS team. -
CGW Lawyers partner Fletch Heinemann shares some of the critical considerations for businesses engaging contractors with audit activity in this area on this rise.
In this episode, Heinemann discusses two major High Court decisions, Construction, Forestry, Maritime, Mining and Energy Union v Personnel Contracting Pty Ltd and ZG Operations Pty Ltd v Jamsek, and the implications they've had on contractor arrangements.He also explores how the introduction of the Fair Work Legislation Amendment (Closing Loopholes) Bill 2023 affects how businesses determine whether workers are employees or contractors.
Heinemann warns businesses on some of the key issues to watch out for when contracting sole traders, including potential payroll tax concerns.
With audit activity from both the ATO and revenue offices in this area on the rise, he also provides insight into how businesses should prepare for a potential audit.
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Tax debt specialist Olga Koskie explains why it's not all doom and gloom in relation to payment plans and tax debts despite a shift in the ATO's approach.
In this latest episode, Tax Assure director and principal Olga Koskie shares what she's currently seeing in practice in terms of the ATO's approach to tax debts and the types of terms it is willing to agree to with payment plans.While the ATO is now firmly back in active collection mode, Koskie says it is still possible for businesses with tax debts to obtain affordable and sustainable payment plans.
She sheds light on the factors the ATO is looking at when considering when to grant payment plans and what is likely to lead to a more favourable outcome.
Koskie also explains what initial steps businesses with these debts should be taking and how they may need to structure their arrangements based on their specific circumstances, such as projected cash flow.
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Heather Smith and Tyler Caskey delve into the latest features, integrations and developments across QuickBooks, MYOB and Xero over April and May.
Accounting app specialist Heather Smith and technology enthusiast and partner at The Bean Counters, Tyler Caskey, share their thoughts on some of the recent updates across accounting apps in the past two months.
They chat about the release of several new features by QuickBooks including the spreadsheets sync feature and the release of the fixed asset register and some recent integrations on the platform.
They also touch on some of the big announcements in the space including Xero's decision to retire Planday and changes with its pricing plans.
Smith and Caskey also highlight some of the other useful features launched across practice management and business management software platforms recently.
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Cooper Grace Ward Lawyers partner Sarah Lancaster provides an update on the payroll tax issues continuing to plague medical practices and the critical planning needed in this area.
In this episode, Lancaster shares some of the highlights from her upcoming presentation at the ACE Accounting Conference & Expo next month.
She discusses the potential audit risks facing medical and allied health practices following the rulings that were issued by various revenue offices last year and what firms need to be doing now to manage these risks.
Lancaster also sheds light on other payroll tax issues being audited by state revenue offices and where businesses need to improve their record keeping.
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A bids and tender specialist has seen a dramatic increase in small to medium accounting firms bidding for government contracts in the past year.
In this episode, Jason Cooney, director at The Tender Team, explains why smaller accounting firms have become more courageous with bids for government contracts more recently and some of the reasons for their success.
Cooney discusses the types of contracts that smaller accounting firms are winning and how they can stand out from other competing firms.
He also offers tips and considerations for the tender process and how firms can prepare to make the process smoother. -
Michael Fingland explains the vital role that stress testing can play for businesses in an economy "teetering on the edge of recession".
In this latest episode, Vantage Performance chief executive Michael Fingland gives a rundown on the concept of stress testing and how businesses can utilise this strategy to prepare for further headwinds in the year ahead.
Fingland explains that with consumer spending pulling back and the economy softening, businesses should be analysing what outcomes might arise with a dip in cash flow, a drop in revenue or with other, more specific, challenges.
Businesses can then put in a place a ârapid-fire turnaround planâ that can be implemented if any of these scenarios happen, he says.
He also provides his predictions on business conditions for the remainder of 2024 and what the main challenges will be.
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Heather Smith and Tyler Caskey delve into the latest technology transformations and feature and functionality updates for the start of the year.
In this episode, accounting apps specialist Heather Smith and Tyler Caskey, partners at TheBeanCounters, discuss recent developments in real-time banking transactions, direct digital receipting and multi-currency transactions.
They also explore updates and new features in the reporting space across cash flow forecasting, automatic workflows, intercompany loan reconciliations and ESG.
Heather and Tyler also chat about some of the big announcements in the accounting tech space including the launch of WorkflowMax by BlueRock and Xero ending classic invoicing later this year.
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There are so many amazingly successful women in the finance industry, but only a small number have a strong brand and online presence in this traditionally male-dominated industry.
How to build a brand presence. The benefits of having a strong brand presence. Top tips to help you get started today.
As we celebrate International Womenâs Day, we want to help more women raise their profile and showcase the incredible professionals in this space.
In this episode, partnered by Mortgage Choice (part of the REA Group), weâre picking the brain of its executive manager, corporate communications, events & franchise marketing, Sally Chadwick, to find out:And much more!
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Family businesses ripe to pass on often need help after getting stuck in their ways, says the principal of a financial advisory firm.
A spike in succession planning in the wake of COVID-19 has created a wealth of opportunities for advisers and virtual CFO services, says one finance specialist.
Principal of iFin Capital and iFin Advisory, Nathan Hogan, said some strong family businesses got stuck in their ways and needed some help to make the transfer.
âWeâre seeing a real spike in the last 12 months of this activity of passing on things to generations,â he said on the latest Accountants Daily Insider podcast.
âA lot of it really is around really good family businesses that have done well and generally theyâve had an internal finance manager or someone whoâs started as a junior and worked their way up.
âSometimes those businesses have the biggest issues because there has been a bit of inaction for a long time and they might not be looking around the corner as much as you would like to see from your CFO.â -
Outsourcing will be part of the answer for some, but finding a senior locally will remain a problem, says Trent McLaren.
The accountancy profession looks in vain for a talent shortage silver bullet and some firms face a tough decision about whether outsourcing is part of the answer, according to the co-founder of marketing and sales consultancy, Journey, Trent McLaren.
âWhen we say there is a shortage of accountants, we're saying there's a shortage in Australia, right?â he said on the latest Accountants Daily Insider podcast.
âThere are people in other countries that are happy and willing to do the work that our new generation of people don't want to do.
âThis is something that some people will have to either bite with, say either I don't want to do any more work, I don't want to win any more fees ⊠or they're going to see more people embrace this global, remote teams type environment, where my team member is just based wherever they need to be.â
âThere's no silver bullet. That's the thing. Even if I go and load up on offshoring outsourcing, there's still a capability piece that I'll have to draw a line on at some point.
âI'm still going to need a senior at some point locally.â - Mehr anzeigen
