Former Tax Commissioner Warning: the Clock is Ticking!
ESS BIZTOOLS Podcast
Based on our first issue of "From Talk to Action" series, this podcast episode discusses the following: Former Tax Commissioner's warning The future of Accounting and Bookkeeping is changing - are you ready? The declining demand for bookkeepers: a challenge or opportunity? Action Plan: future-proof your firm Debtor and supplier challenges are rising - is your firm prepared? The Advisory opportunity ESS BIZTOOLS: helping you transition to Advisory Services Special Officer; 50% off the Advisory Intro Package
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Systems Assist Success
ESS BIZTOOLS Podcast
In this episode of ESS BIZTOOLS Podcast, Peter Towers explores how systems drive business success for accountants, bookkeepers and business advisors. Discover how structured financial and management accounting processes – such as the 52-Week Business Enhancement System, Predictive Accounting, and Profitability Analysis – can help SMEs not just survive but thrive. Learn about key strategies for capital raising, succession planning and business evaluation, to enhance growth and efficiency. Get insights into how implementing these systems can set your firm apart and create new revenue...
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Unlocking R&D Opportunities: Guidance for Accountants and Advisors
ESS BIZTOOLS Podcast
In this episode, Peter Towers, Managing Director of ESS BIZTOOLS, discusses the essentials of guiding clients through Research and Development (R&D) opportunities. He highlights the significant tax incentives available to Australian businesses engaged in R&D, and provides actionable advice for accountants, bookkeepers, and business advisors on supporting clients from idea generation to project planning. Peter emphasises the importance of establishing detailed records, understanding core activities, and securing intellectual property, along with practical steps for forming a company to...
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Transformng Accounting From Compliance to Strategic Business Advisory
ESS BIZTOOLS Podcast
In this episode of ESS BIZTOOLS Podcast, host Peter Towers dives into the evolving role of accountants in the business world, joined by distinguished guests Sam Salcman of Edwards Pearl and Andrew Geddes, co-founder of the Financial Management Research Centre (FMRC). The trio reflects on the transformation of the accounting profession, highlighting the importance of business advisory services and the integration of modern tools like ESS BIZTOOLS. They discuss how accountants can shift from compliance-focused tasks to becoming strategic partners for their clients, leveraging technology and...
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Strategies and Insights for Setting Professional Firms Charge Out Fees
ESS BIZTOOLS Podcast
In this episode, Peter Towers dives into the intricacies of setting charge out rates for professional service firms. He covers essential considerations beyond simple cost calculations, such as service quality, industry reputation, and unique value-adds. Peter explains how firms can justify premium rates by offering enhanced advisory services, client education, and strong business acumen. He also emphasises the importance of understanding labour costs, productivity metrics, and competitive positioning. By following these strategies, firms can better communicate their value to clients and...
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Debtors Management for SMEs: Navigating Financial Stability and Cash Flow Challenges
ESS BIZTOOLS Podcast
In this episode, Peter Towers addresses the critical issue of debtors management for SMEs facing financial challenges in Australia. He emphasises the importance of effective credit management and how poor practices, such as granting credit without proper systems, can lead to cash flow problems. Towers discusses common pitfalls SMEs encounter, including inadequate credit terms, lack of monitoring, and unrealistic assumptions about payment timelines. This episode also highlights the role of accountants and bookkeepers in helping SMEs establish strong debtor management systems. This includes...
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Export Market Development Grant
ESS BIZTOOLS Podcast
This podcast episodes looks into Export Market Development Grant, the eligibility requirements, who are eligible and most importantly, how accountants and business advisors can generate revenue by assisting SMEs with the application process. You can also access our podcast on:
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Investment Readiness for SMEs: key considerations for Accountants and Bookkeepers
ESS BIZTOOLS Podcast
This podcast episodes looks into the essential aspects of what accountants and bookkeepers need to examine in order to ensure that their SME clients’ businesses are investment ready. You can also access our podcast on:
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Update of issues affecting accountants and bookkeepers
ESS BIZTOOLS Podcast
This podcast covers the following issues affecting accountants and bookkeepers today: Australian Small Business Ombudsman Report Former Tax Commissioner's Warning Fiscal Management Issues - statement from Paul Robson, CEO of MYOB What do businesses need? You can also access our podcast on:
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Growth vs Capacity
ESS BIZTOOLS Podcast
Featuring Trevor Marchant of Marchant Dallas, this podcast discusses the latest article produced by The Boss Factor Library. You can also access our podcast on:
info_outlinePeter Towers, Managing Director of ESS BIZTOOS discusses “Combating Worsening Talent Shortage!”
“Accountants are facing problems” – Accounting Market Pulse.
Does your accounting firm have a strategy to attract and retain staff?
Andrew Geddes – Australian Accountancy Guru discussed this problem with me in November 2021.
“Partners of accountancy firms are saying there are not enough young accountants, but no, there are enough of them, they’ve chosen not to work in the profession because they have been asked to do compliance work only and to obtain 80% productivity which has caused people to say – I’m not sure I want to work in that environment”
“We’ve got to teach them, and the partners and directors have got to be available.”
Firms should ensure that younger accountants work closely with partners so that they can improve their knowledge of business and develop their skills.
“You have to involve young people with clients and projects”
“You’ve got start it now – this afternoon because your greatest challenge at the moment is getting good people to work with!”