As the case for an alternative business model for accounting firms becomes more compelling, traditional partnership arrangements in public practices are being challenged.
For businesses of all kinds, having to pay for regulatory oversight is not new. But price hikes levelled at some practitioners by ASIC have led to a lot of ire in the sector and raised serious questions about whether they are justified.
The Australian Securities and Investments Commission (ASIC) has outlined its focus areas for 30 June 2018 financial reports. Although preparers have had extended time to implement the new requirements, many will not be able to adequately communicate the extent of the impact of the new revenue standard in their financial statements.
The Australian Accounting Standards Board gave not-for-profit (NFP) organisations an extra year to implement new accounting standard AASB15 on revenue recognition, but NFP managers need to be preparing now for this and other new standards that will take effect in January 2019.
Employment and salary prospects for accountants are healthy across the board, but professionals with up-to-date expertise in data collection and analysis are most in demand, say recruitment specialists.
CPA Australia and the American Institute of Certified Public Accountants – AICPA – have finalised a mutual recognition agreement that will see members able to work more freely in both countries. INTHEBLACK spoke to AICPA’s president and CEO Barry Melancon about the way forward.
The top three legal issues that small businesses struggle with are misleading conduct, consumer guarantees and wrongly accepting payment, and the ACCC says accountants can play the vital role of trusted adviser in helping their clients to resolve any problems.
The Australian Taxation Office (ATO) is targeting work-related expense claims - and literally going through dirty laundry bills in a crackdown.
Look around a music gig and the last person you expect to see is the singer's accountant. But that's often where you'll find Perth-based FCPA and music specialist Kylie Thompson rocking out.