A business starts with an idea and requires time and effort to map out its pathway. Whether you are starting up for the first time or you have been in business for some time, knowledge is a powerful tool that will help you run your business smoothly and in the right direction towards achieving your goals.
Structure is your very first important decision that you will make when going into business. Will you operate as a sole trader, through a company, trust or partnership? Each structure has their own advantages and dis-advantages, and it is important to know the pro's and con's.
Federal and government Laws should be on the agenda when starting up and running your business, whether it be taxation law, corporations law and other common law matters surrounding employment, contracts and perhaps estate planning, not to mention state laws for payroll tax, land tax and much more.
Accountants and Bookkeepers should be on the top of your shopping list when thinking about going into business, they combined are the advisors and technical experts that can assist you with planning, structuring, registrations, and setting up accounting systems and assisting you with the ongoing maintenance of your systems..
Accountants and Bookkeepers are very similar in their vocation, the only differences are their training, qualifications and exposure to the various business, accounting and taxation environments. Nevertheless, both compliment each other with their defined technical skills, and each individual will vary in their depth of knowledge, experience and services they can provide.
How can we help you?
Compliance work – both Accountants and Bookkeepers will assist you with managing compliance through record keeping of transactions, reconciliations and the preparation of a profit and loss statement, balance sheet, business activity statements and tax returns.
Financial performance work – both Accountants and Bookkeepers will assist you with varying degrees of expertise to put together a set of accounts with a reconciled balance sheet and determining income and expenses that are taxable or non-taxable. It is through this process that we can present you with useful information to assist you with understanding your financial performance.
High-value advisory work – both Accountants and Bookkeepers have their own niche and specialisation based on their core strengths gained through professional training and experience. We can add-value to you and your business by giving you good practical guidance and advice. Depending on the subject matter and the degree of complexity will determine which advisor is best to provide you with the necessary guidance and advice your are needing.
Both Accountants and Bookkeepers are individuals that perform the same work. The only differentiation is by professional registrations and affiliations, formal qualifications, experience, core skills and technical expertise. There are varying levels of Accountants, as there are varying levels of Bookkeepers.
MacBride Hinton & Co are Chartered Accountants, ASIC Agents and Tax Agents. We can provide a full suite of services including Business Services, Accounting and Bookkeeping Services, and Taxation Services. We not only provide compliance work, we work with you to provide value-add services that contributes to your future and success.