Inspiring Introverts to Reach Their Potential with Maslow’s Hierarchy

Introverts, like any other individuals, have basic needs that must be fulfilled in order to thrive. Maslow’s Hierarchy of Needs provides a framework for understanding these needs and how they impact our motivation and behaviour. According to Maslow, the hierarchy consists of five levels: physiological needs, safety needs, love and belonging needs, esteem needs, and … Read more

The Crucial Role and Strategies of Financial Planning During an Economic Crisis 

In times of economic crisis, financial planning becomes more than just a prudent practice; it becomes a lifeline for individuals and families to weather the storm. Whether it is a global recession, a market crash, or unforeseen events like a pandemic, having a solid financial plan can make all the difference in maintaining stability and … Read more

Outsourcing vs. In-House Accounting: Which is Best?

As a business expands, its financial needs also expand at the same time. Consequently, owners, often lacking accounting expertise, face the challenge of determining whether to build an in-house accounting team or opt for an alternative – outsourcing. Many businesses view outsourcing as a more strategic approach to achieve optimal financial management, making the in-house … Read more

Mastering Budgeting for Your Small Business Growth

A budget functions as a powerful tool, mapping out the path to bring your vision to reality. It acts as a comprehensive plan outlining your business’s anticipated revenue, expenditures, and profits over a defined period, playing a pivotal role in discerning your financial standing and facilitating informed financial decisions. Each small business, being distinct, approaches … Read more

Counting on Blockchain: Revolutionising Accounting

As we observe the dynamic realm of finance and accounting, technological developments have consistently shaped how professionals manage and process financial data. A particularly notable innovation gaining attention is blockchain technology, originally designed for cryptocurrencies like Bitcoin but now emerging as a transformative force with the potential to revolutionise diverse industries, including accounting. Blockchain technology’s … Read more

The difference between an Accountant and a Bookkeeper: Which one do you need?

There’s much more to running a business than just coming up with ideas and putting them into action. There is also the financial side of things, including bookkeeping and accounting. Many businesses rely on a professional bookkeeper or accountant to handle their finances, but what exactly does an accountant and bookkeeper do? What’s the difference … Read more

What Is Agile? & How Can Your Accounting Firm Benefit?

What is agile? Agile is a set of values, principles and practices traditionally used for software development that emphasise iterative and incremental delivery, timely responsiveness to change, close collaboration between business stakeholders and self-organising teams, and continuous learning.Essentially, agile is about getting things done in a more efficient, practical and iterative way. It was first … Read more

Preparing your small business for EOFY 2022

Understand Tax record-keeping requirements in Australia It’s essential to keep accurate records of your income and expenses throughout the financial year. This will make meeting your tax obligations much easier when the time comes. The ATO requires that you keep records for a minimum of five years, so it’s a good idea to set up … Read more

The most common bookkeeping mistakes business owners need to avoid

Six common bookkeeping mistakes to avoid We highlight the most common mistakes made by SMEs that need to be avoided to ensure the success of their business. With the increase complexity of accounting, compliance and bookkeeping processes, business owners juggle to keep their business profitable. During these challenging times especially, it’s easy to understand where … Read more