Our regulatory environment is constantly changing, the not-for-profit (NFP) sector is not immune. The recent revisions to the Tier 3 (NFP) Standard, effective from April 1, 2024, will impact many small to medium NFPs and charities in New Zealand and [read more...]
In the world of professional services, understanding when income is recognised, or “derived,” for tax purposes is important. We are occasionally asked by professionals if it is possible to account for their income on a “cash basis”, as this generally [read more...]
If enhancing your business strategies is on your list of New Year’s resolutions, now is a good time to revitalise your approach and set the stage for success in the upcoming year. In the unpredictable world of business, finding a [read more...]
In the unpredictable world of startups, maintaining a cash surplus can be a lifesaver. It provides a safety net in case sales don’t meet expectations or unexpected expenses arise. Aside from providing security, surplus cash also paves the way [read more...]
If you’re a business owner or taxpayer in New Zealand, you’ve likely encountered terms like ‘no GST’ and ‘zero-rated GST’ transactions. These terms refer to specific tax treatments under the Goods and Services Tax (GST) system in New Zealand. In [read more...]
April 2024 update: some minor changes made, see here. Many not-for-profit organisations fall under the Tier 3 standard which is a specific set of accounting standards designed for smaller entities, usually organisations with relatively simple financial structures and limited resources. [read more...]
In the world of business, one constant factor you are likely to encounter is change, particularly in the financial landscape. One such change that can bear significant implications for small businesses is rising interest rates. Understanding how this impacts your [read more...]
As a small business owner, you’re likely already wearing many hats. But the hat of a financial analyst might seem a little oversized, particularly if your background isn’t in finance or accounting. However, understanding financial ratios can be a game-changer [read more...]
Starting out as a professional services contractor is an exciting time. Whether you are in IT, medicine, engineering, law or something more creative, contracting provides a unique set of opportunities and challenges. And whether your goal is to just have [read more...]
A fractional accounting team or fractional accountant, is a finance department or professional that works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level accounting team to your business – without the cost [read more...]
