How to Build a 3-way Forecast in Excel

What is a Three-Way Forecast? A three-way forecast, also known as the three financial statements model, is a financial tool that consolidates three essential reports into a single, comprehensive forecast. It integrates your financial statements – your Profit & Loss statement (income statement), balance sheet, and cash flow projections to provide a holistic view of […]
6 Options to Close an Australian Company

Closing a company in Australia is a decision that requires thorough planning and strict compliance with legal requirements. Whether driven by part of a succession of the family business, financial difficulties, taxation, strategic realignments, or other factors, understanding the available options that a Perth business accountant can employ will make a more streamlined process for […]
What Accounting Reports are Presented to a Board?

Preparing the board reports for your first board meeting in Perth can be confronting. Whether you are a family business founder, CFO, Perth business accountant, or CEO, preparing the board reports in the first board meeting so they hit home and drives value for the family business can be challenging. The timing of the meetings […]
Have You Outgrown Xero? (10 Signs)

For most SMEs in Perth, Xero is the dominant cloud accounting package. Xero’s ease of use and functionality help Perth family business owners and their accountants gain control of their business and finances, making it a market leader. However, Xero is not everything to all business owners. As a Perth SME grows, it has more […]
How Inventory Management Can Improve Customer Satisfaction

Inventory management covers the enter SME process from raw materials and work-in-progress to finished goods. This process for Perth SMEs and their business accountants includes monitoring inventory levels, establishing the ideal stock quantities, and coordinating the procurement and storage of inventory for customer needs. Efficient inventory management through cloud accounting software is essential for businesses […]
Starting a family office

The words of “family office” conjure a sense of excitement and exclusive appeal. As Perth accountants we have been fortunate enough to come across many ultra-high net worth individuals with a private family office. We have detailed some of our common findings: Beware the advertising A family office is just actually that. An office for […]
Getting ready for the end of financial year

The end of financial year is a great time for family business accountants and tax advisors. Families and businesses across Perth are normally calling their accounting taxation and business advisors for any last minute strategies coming up to 30 June. Your trust distribution minute is important Many accountants have created a discretionary trust. And […]
How to avoid lodging a fringe benefits tax return

Many family businesses in Perth simply want to cut red tape. And the act of lodging a fringe benefits tax return is simply another form that must be prepared and another cost paid to accountants that is effectively sunk money – especially when the amount of fringe benefits paid is potentially low. Motor vehicles The […]
10 questions to ask when choosing your accountant

Choosing an accountant can be difficult. Cutting through technical jargon and marketing hype is a daunting process to any business owner. So we have a list of questions you can use to interview and compare between accountants. What tax leadership roles in the profession have you done in the last 12 months? Every accountant will […]
So what is a family business?

Our Perth advice business only focusses on family owned businesses. However many of our clients do not think of themselves as a “family business”. We have defined a family business as: A business that is controlled and significantly owned by two or more members of the same family with the hope that the business legacy […]