For franchise networks with a 30th June financial year-end, September is a useful time to review marketing fund contributions and expenses. Good record-keeping is more than good practice. Under the current Franchising Code of Conduct, marketing funds fall under the rules for specific purpose funds. These rules set out obligations for franchisors and fund administrators. … Read more
If you run a franchise system in Australia, there is an important compliance deadline to keep on your calendar each year. Under the Franchising Code of Conduct, franchisors must confirm or update their information on the Franchise Disclosure Register every year. Failing to update the register is a breach of the Code, and penalties may … Read more
The accounting cycle forms the foundation of a business’s financial record-keeping, ensuring that every financial transaction is accurately captured, classified, and reported. This cyclical process enables businesses to prepare reliable financial statements, comply with regulatory requirements, and make informed decisions. Whether a small startup or a large corporation, mastering the accounting cycle is essential for … Read more