Sunk Cost vs Opportunity Cost: Your Guide Key Highlights Learn how sunk costs and opportunity costs affect smart choices in business. See real-life examples of how sunk costs can shape decisions and ways to avoid the sunk cost fallacy. Discover how opportunity costs impact investment choices and help businesses grow. Understand the key differences […]
Understanding Your Employer Legal Obligations Key Highlights As an employer in Australia, it is crucial to grasp your legal responsibilities, which encompass various aspects beyond just salary payments. Familiarity with the National Employment Standards (NES) and relevant industry awards is vital for establishing a compliant work environment. Employers must uphold workplace health and safety […]
Ultimate Guide to Calculating Year over Year Growth Key Highlights Learn the significance of Year over Year (YoY) growth in evaluating financial performance. Understand the key differences between YoY growth and other growth metrics. Gain insights into the components and formula for calculating YoY growth. Discover practical applications of YoY calculations in real-world scenarios. […]
How to Go Paperless in Accounting: A Step-by-Step Guide Key Highlights Moving towards a paperless office in accounting can lead to many good things like better efficiency, saving money, stronger security, and less harm to the environment. With careful planning and having the right tools on hand such as cloud storage and a management […]
Understanding Unit vs Discretionary Trust Structures Key Highlights Trust structures come in forms, including unit and trusts. Unit offer fixed entitlements to holders, while discretionary provide flexibility and asset. Unit trusts are used for investments, discretionary trusts are popular estate planning and tax. Unit trusts are similarly to companies, discretionary trusts are taxed the individual […]
Unlocking Profit Potential: Private Company Paying Dividends Key Highlights Dividends are way for private company to accumulated profits for personal use. Dividends be paid out of company's retained earnings but there are considerations to in mind. Franking credits are tax that a company has previously on its profits, they can be used frank dividends. […]
Step-by-Step: How to Prepare a Business Budget Successfully Key Highlights Getting a handle on why having a business budget is important can really help your company do well. It's all about managing your money right and making sure you're ready for any financial ups and downs that come your way. With the right budget, […]
Starting a Business in Australia: 10 Crucial Steps Key Highlights Creating a comprehensive business plan is the first step starting business in Australia, it helps outline your goals financial projections, and opportunity. Choosing the right business structure, such a sole trader, partnership, or company, is crucial and should based on your specific and goals. […]
10 Essential Steps for Cash Flow Forecasting with Xero Key Highlights For business owners, keeping an eye on cash flow is crucial to stay financially healthy and make smart choices. Xero comes in handy here, offering great features and integrations that simplify and refine cash flow forecasting. In this blog post, we're going to […]
