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Bookkeeping for Construction Business

Date: December 4, 2023
Categories: Bookkeeping
Is accounting for Construction business different?Yes, the accounting is different for construction business due to the below reasons.1. Payroll:Payroll processing for construction business is little difficult as compared to other payrolls. The subcontractors will be the construction w ...
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Business Services
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The Integration of Non-financial Data into Financial Reports

Date: December 4, 2023
Categories: Business Service
The integration of non-financial data into financial reports is important for stakeholders as it enables comprehensive decision-making, facilitates risk assessment, evaluates ESG performance, promotes accountability and transparency, and ensures regulatory compliance.Comprehensive Decision-making ...
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Understanding the Transfer Balance Cap in SMSF

Date: December 4, 2023
Categories: Superannuation
The Transfer Balance Cap (TBC), initiated on 1st July 2017, was introduced with the aim of restricting the amount individuals can transfer into retirement phase pensions. When first introduced, the General TBC was set to $1.6 Million.  However, the General Transfer Balance Cap (TBC) was subsequen ...
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The Role of Financial Derivatives in Managing Risk and Enhancing Returns in Business Sector

Date: December 4, 2023
Categories: Financial Planning
Financial derivatives are now an essential component of contemporary financial markets, helping companies of all sizes manage risk and increase returns. These complicated financial instruments give organizations a flexible toolkit to manage the intricacies of the financial landscape. They get their ...
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carisma solutions
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ATO Update (November 2023)

Date: November 6, 2023
Categories: Monthly Update
Alert for changes made to your SMSFIf you make changes to your SMSF ATO will send you an alert for changes made to SMSF information.ATO may send you an alert via email or text message when:>you register a new SMSF>you change an existing SMSF'sFinancial institution account detailsElectro ...
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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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