News & Views

I’ve worked really hard and things are taken care of…or are they?

You’ve worked really hard for a long time, made big sacrifices…family time, early mornings, late nights, taken risks and it has paid off. Time for you to enjoy the fruit of your labour that has been made possible by your sacrifices.
 
Unexpectedly something comes out of the woodwork and you find yourself in a legal battle. You didn’t expect this and suddenly everything you’ve worked so hard for could be gone. Have you done everything you can to protect your assets?

Should Loans be Classified as Current or Non-Current?

Issue

Loans that are in breach of covenants often pose difficult accounting considerations as to whether they should be classified as either current or non-current in the Statement of Financial Position.
This publication will highlight the key factors you should consider when deciding whether a loan should be classified as either current or non-current.
 

Moore Stephens Team Reflects On The 25th Annual Investing In African Mining INDABA

Moore Stephens partners from across Africa and the world gathered at a bumper Investing in African Mining Indaba in Cape Town in February. This year’s 25th anniversary Indaba was marked by more optimism than in the past few years.
 
“It was a lot more positive this year,” said David Tomasi, Global Sector Leader for Energy, Mining and Renewables (EMR) for Moore Stephens International.
Moore Stephens partners from across Africa and the world gathered at a bumper Investing in African Mining Indaba in Cape Town in February. This year’s 25th anniversary Indaba was marked by more optimism than in the past few years.
 
“It was a lot more positive this year,” said David Tomasi, Global Sector Leader for Energy, Mining and Renewables (EMR) for Moore Stephens International.

Not so private practice

If you’ve been in the unfortunate physical state to warrant a visit to your local physiotherapist or podiatrist recently, you may have noticed the mismatched waiting room furniture and dog-eared reading material has been replaced. Instead, you’re more likely to find thoughtfully designed lounge areas that maximise the opportunity to sell wellbeing products to a captured audience, not to mention herb-infused water served with a not-so tatty glossy.
 

Beyond the super cap

Superannuation as a retirement vehicle no longer has the allure of that new-car smell. These days it’s clocked its share of kilometres, the paint job has a few scratches, and in July 2017 when the tax-free contributions were capped at $1.6 million, it was the equivalent of a rear-end prang.

Taxing times

It’s something we all believe won’t ever happen to us. We tell ourselves tax audits happens only to the risk takers. We mistakenly find solace in the seeming randomness of those who do happen to capture the attention of the Australian Tax Office’s auditors, but the reality is that it’s rarely that haphazard. 
 

New Accounting Requirements for Local Government

New Accounting Requirements for Local Government


Several new accounting standards AASB 15, AASB 16 and AASB 1058 apply to Local Government from the 1st July 2019 to create new rules for the way local government recognises income and leases.

These changes will impact on the way contract services, grants, contributions, rates in advance and leases are accounted for and in some circumstances, require local governments to recognise the beneficial value of volunteer services.

The changes bring with them potential for an impact on the 2019-20 Budget, Annual Financial Reports (both 2018-19 and 2019-20) and Monthly Management Reporting.  

To cater for these new requirements, local governments will need effective systems for assessing, recording, and tracking contracts, grants and contributions over their lifecycle.  They may also need to develop systems to record the extent and value of beneficial volunteer services and change the accounting for prepaid property rates.

Mining Indaba - Risks and Reflections

As Mining Indaba kicks off its 25th anniversary, let’s look at how risks associated with the mining industry in Africa have changed.

Whilst some of our observations may seem like common knowledge, it is worth reflecting on the risk landscape to ensure we are ever mindful of the constant need to remain relevant and reset.

Moore Stephens Corporate Secretarial Services

Keeping your company records up-to-date is an important yet often overlooked task. Specialist skills are required to provide best-practice solutions and avoid expensive ASIC late penalties. Outsourcing this service is an efficient way to ensure that your company’s ASIC administration is handled efficiently and correctly.

Getting in Shape for a Healthy Exit

If you took the temperature of the allied healthcare sector this year, it would indicate that it’s ‘heating up’. Physiotherapists, podiatrists and chiropractors operating solo / group clinics with an annual turnover between one and twenty million dollars are all increasingly attracting the attention of private equity firms and listed entities.

Fee Synergy Collect

As part of our ongoing commitment to enhancing our systems and procedures, Moore Stephens will be changing the way we communicate with you about your invoices.
 
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