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BookkeepingThe power of effective bookkeeping: real-life success stories
When a bar owner I worked with went from operating at a loss to turning a profit within one year, it wasn’t just about getting the numbers right—it was about understanding what their business needed and building a system that would set them up for success. Bookkeeping is the foundation of the accounting cycle and […]
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It’s not just you, entrepreneurship is hard
So you’re an entrepreneur. Maybe you decided to change the world. Wanted to put your dent on the universe. Revolutionise something. Maybe you just wanted to stick it to the man, man. But then you discovered something you weren’t expecting. This is hard. You know it’s hard when you find yourself working late and missing […]
Sweating at Tax Time
One of the most painful situations businesses encounter is getting back their tax return with a big profit, accompanying tax bill, and no cash to pay the IRD. In fact, they haven’t seen any cash benefit of the profit throughout the year. There are a number events that can conspire to create the aforementioned unfortunate […]
Skateboarding Challenge
Skateboarding is a really fun activity, but it is also very challenging. It all started while I was cleaning up my garage earlier this year. I found my old skateboard from back in my high school days. With all the good old “Sk8er Boi” memory in mind, I took it to the skate park to […]
The ‘Diligence’ in Due Diligence
Over this last year, we have had many due diligence engagements (both purchase and sale side) and this month alone have completed six due diligence engagements, so as this is on my mind, it becomes the default technical topic this month. Each due diligence engagement is unique and there is no one approach, however the […]
Anti-Money Laundering Compliance for Accounting
Ten years ago, we could not foresee, even in our wildest dreams, that one ACT would so fundamentally impact the Finance industry and later, other professional services. The Act I refer to, is the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML & CFT Act, hereafter the ACT). Due to this ACT, NZ […]