Business Advisory News For Accountants

Situation AvailableMany businesses have a “situation available” for a wider range of services – but not many accountants are applying. What services do SMEs want?Surveys undertaken by MYOB, CCH, Smithink and other organisations have all identified that SMEs are looking for a wider range of professional services from “someone”. The challenge for the accountancy industry is to ensure that “someone” is a professional accountant. This work will otherwise disappear to a range of other consulting firms and to those accountancy businesses that are better prepared. The services, indicated by the surveys, as being sought by small/medium enterprises include:• Future planning – where are we headed?• Budgets and Cashflow Forecasts – trying to predict the financial needs of the business.• Business analysis and interpretation:- Key Performance Indicators- Benchmarking- Ratio analysis• Succession/Exit Planning - there are thousands of businesses that are planning, or considering, exiting over the next decade. Succession is