Accounting

ASIC Business Checks App

A new smartphone application developed by ASIC will help small business owners undertake important checks before they enter into business transactions with other organisations.

Brett Bassett, Senior Executive Leader – Small Business Compliance and Deterrence & Regional Commissioner QLD,… Continue reading →

What Is A Profit And Loss Statement?

The Profit & Loss Statement is amongst the most important and frequently used financial statements in business decision making.

The basic purpose of making a Profit & Loss Statement is to determine how the business has performed its operations.… Continue reading →

Cloud-Based Accounting Benefits

Cloud-based accounting is appealing to small and medium businesses because it allows them to “scale out” their technology.They can become more flexible and grow without added overhead costs.

Cloud solutions differ in that the hardware, software and continued maintenance are… Continue reading →

Tax Time 2013: Key Changes

There have been a number of significant changes to tax products, tax return forms, instruction guides and requirements for Tax Time 2013.

The Tax Office has released tax return forms, schedules and instructions for the 2013 income year.

Some of… Continue reading →

Trustee Resolutions: What To Do After 30 June

If you are a trustee and you make beneficiaries of a trust entitled to trust income by way of a resolution, it is important to make sure you are correctly complying with all the necessary requirements when making your trustee… Continue reading →

Trustee Resolutions Must Be Made By 30 June

The Tax Office has issued a fact sheet in relation to trustee resolutions and the requirement that such resolutions be made no later than 30 June 2013.

For a trustee that intends to make beneficiaries of the trust entitled to… Continue reading →

What Is Cloud Computing?

Earlier today, an entrepreneur attempted to explain to the Taskmaster what “cloud computing” is.

“Well, it’s where your data is stored off in the clouds, in the sky somewhere – on a satellite or something I guess – and you… Continue reading →

Top 4 FAQ’s About Bankruptcy

Insolvency is the situation where a person is unlikely to pay their debts. In many cases a person who is insolvent may be able to pay their debts over a longer period or by restructuring their financial arrangements.

Those who… Continue reading →

How To Improve Cash Flow In Your Business

The lifeline of any business is a healthy cash flow. Too often, even large corporations ‘go under’ when they can’t make payroll, pay vendors, or even the taxes that are due.

Many factors are involved, but keeping on top… Continue reading →

Why Are Business Systems Important?

Business systems (aka quality systems, business processes or procedures) have developed a reputation for being a burden – extra work that has to be completed on top of running your business.

When implemented well, this couldn’t be further from… Continue reading →

An Effective Cashflow Option

Many aspiring entrepreneurs dream of huge profits when they start up a business.

The reality is, however, that without an effective cashflow system, your business won’t survive long enough to pull in a dollar surplus.

In its simplest form, cashflow… Continue reading →

Overseas Shopping Habits Unlikely To Change

Almost 80% of Australian consumers oppose reductions to the GST-free threshold on overseas online purchases, but any change will do little to quell their appetite to spend, new research reveals.

According to a study conducted on behalf of MasterCard, increasing… Continue reading →

Cost Management And Business Profitability

The term Cost Management includes both cost control and cost reduction investment decisions. It recognises that the objective should be a better business, not just a cheaper one.

For a business to be successful and stay that way requires some… Continue reading →

How To Write Your Business Goals

A major difference between running your own small business and being employed by someone else, is that you will have to learn to manage your own time. Organization and setting business goals is very important.

If you are not goal… Continue reading →

Changes To GST Commercial HP

Two significant changes have been made to the GST treatment of supplies under hire purchase agreements, to come into force on 1 July 2012.

Historically, whether an entity could claim all of the GST upfront on an item purchased under… Continue reading →

Contact Us

AIMS Accounting Service
22 Swindon Close
Lake Haven NSW 2263
Phone: 02 4392 8720

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