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Financial planning
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Safeguarding Wealth: The Need of Cybersecurity in Finance

Date: November 6, 2023
Categories: Financial Planning
In a progressively digitized world, the finance sector stands as one of the top targets for cyber threats. As technology upgrades, so too do the approach of cybercriminals. Let’s understand the critical importance of cybersecurity in finance, outlining the challenges faced and the measures being t ...
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Ensuring Quality in Tax and Compliance

Date: November 3, 2023
Categories: Business Service
Quality in tax and compliance are paramount in the accounting industry as businesses strive to navigate the complexities of the tax system and ensure compliance with ever-evolving regulations. With the Australian Taxation Office maintaining rigorous standards, accountants play a crucial role in prov ...
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SMSF
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The Significance of Asset Valuation in SMSF Accounting

Date: November 3, 2023
Categories: Superannuation
Self-Managed Superannuation Funds (SMSFs) have gained immense popularity as a way for individuals to take control of their retirement savings and investment decisions. But managing an SMSF is not easy. It involves complicated financial and accounting tasks, including figuring out how much your asset ...
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Financial year
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Financial Year

Date: November 3, 2023
Categories: Bookkeeping
What is Financial Year?Financial Year (FY) is annual period for calculating the taxes, Budgets, and reporting. It is also known as Fiscal Year, which the government uses it for accounting and budgeting process.  It is a way to analyse the performance of the business over a period and helps t ...
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carisma solutions
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ATO Update (October 2023)

Date: October 4, 2023
Categories: Monthly Update
Financial Advice Education Standards Legislation passed‘The Bill delivers the Government’s election commitment to better recognise the experience of long-serving advisers by removing the tertiary education requirement for advisers with 10 years’ experience, a clean disciplinary record w ...
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SMSF Sector Shows Steady Growth with Female Members Leading in New Fund Creation.

Date: October 3, 2023
Categories: Superannuation
As per SMSF fund quarterly statistics for June 2023 revealed the establishment of 6,351 new funds during the quarter, along with 297 fund closures, resulting in a net growth of 6,054 funds. Consequently, the total count of SMSFs has now reached 610,287, collectively comprising 1.13 million members.T ...
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Carisma Solutions
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The Evolution of Digital Payments and Cashless Economies: From Cash to Code

Date: October 3, 2023
Categories: Financial Planning
The switch from paper money to digital payments has been nothing short of revolutionary in an age marked by rapid technological advancement. This article examines the significant effects that digital payments have had on economies all over the world, as well as the advantages and potential future of ...
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Business Services
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Adoption of Data Analytics and Visualization Tools

Date: October 3, 2023
Categories: Business Service
In recent years, the accounting industry has undergone a significant transformation with the increasing adoption of data analytics and visualization tools. As businesses generate more financial data, accountants are leveraging advanced analytics techniques to gain insights into financial performance ...
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Bookkeeping
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Forecasting for Business

Date: October 3, 2023
Categories: Bookkeeping
Primarily, to progress on your business decisions only possible by creating and analysing the management reports, whereas the past data can only explain on that.It’s significant to plan in today’s business. To form an informed decision on upcoming future strategies, you must be able to decide th ...
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carisma solutions
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ATO Update (September 2023)

Date: September 5, 2023
Categories: Monthly Update
Checking for charges over property assetsSelf-Managed Super Funds (SMSF) auditors should ensure there are no charges over fund assets as part of completing an annual fund audit.You should obtain evidence annually that trustees have not given a charge over or in relation to a fund asset by see ...
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