Understanding Your Balance Sheet

To understand the financial position of a business at a specific point of time, look at the balance sheet which may also be called the statement of financial position. Together with the Profit and Loss Statement, and possibly other reports such as the Statement of...

What are your business goals for the year ahead?

The beginning of a new calendar year is an excellent time to review last year and reflect on what worked, what didn’t, what you’d like to change and new things you want to implement. Take the time to review the year and acknowledge all that has happened, good, bad or...

Making your business work for you: work/life balance

You started your business to have the freedom of being in charge. But are you actually working harder than ever and drowning in admin, meetings and other demands on your time? Don’t worry, there are ways to get your work/life balance back under control. In this...

Provisional Tax – how does it work?

If you had to pay tax of more than $5,000 in your last income tax return, you may have to pay provisional tax for the following year. Provisional tax is like paying progress payments on next year’s income tax. The amount you must pay relates to your expected profit...