Empowering Smes

Welcome to 2016/17!   A new financial year – what are you going to try to achieve this year?   Are you happy with your financial performance?  Are you happy with the support that you’re receiving from your accounting/advisory firm?  Are you getting feedback?   I’m going to ask you six questions to undertake a review of your preparation to be an outstanding business during 2016/17.  If you would like some further advice on the questions that I’m going to raise, I will have suggestions on where you can turn to for support.   Debtors’ Days Outstanding “Is the debtors’ days outstanding in your business less than 40 days?  If not, my recommendation is that you have a debtors’ due diligence system review undertaken for your business.”   Personal Property Securities Register (PPSR) “Are you aware of the PPSR?  Do you know that approximately $300M has been lost by businesses in Australia since this legislation commenced about 3 years ago?  Have you considered the risks that you’re running by not registering assets?”