Posts by Smithink
COVID-19 and the impact on the charitable sector
This month I thought we would look at something a little different. The past few months have certainly posed challenges for our accounting firms and clients as well as the not for profit charitable sector. With restrictions easing I believe it is time to start looking at recovery services to try to get back to…
Read MoreHow to Get the Bank to Say Yes – Now and in the Future
More and more there is a compelling need to deal effectively deal with Banks. In the current environment many businesses are looking towards the Banks for assistance with managing COVID-19 consequences through suspending repayments for set periods and support with loans for operational cash flow and the like. Even before the Global Pandemic interrupted our…
Read MoreWatch that little red dot (reprise)
A few years ago I wrote this piece about the need to develop new skills to be able to present effectively to a camera. In this time when so many are working remotely, the skill is even more important than ever. It’s worth another read… Do you dread the request to have a video Zoom,…
Read MoreSmithink and Cash Flow Story special COVID-19 offer
As you know, the team at Smithink and Cash Flow Story are passionate about helping the accounting profession in the advisory space, with a particular focus on Profit, Cash Flow and Business Value. Cash flow has never been more relevant given the current situation with the COVID-19 virus around the world. As a result, the…
Read MoreTalking with your peers is more important than ever
In this new world where so many of us are working at home, one can quickly feel quite isolated. Many practitioners are facing challenges that would be unthinkable even a few weeks ago. Bringing practitioners together to share experiences and approaches to challenges is even more critical to help firms develop strategies to address the…
Read MoreHow to see the financial impact of key business decisions before they are made?
How to see the financial impact of key business decisions before they are made? What a great firm mantra and key service offering to business clients. Around 25 years ago this is the statement that influenced me to go to a seminar in Sydney that started the business advisory service offering in my firm. I…
Read MoreThe challenge of margin squeeze
As part of our online collaboration network sessions, we benchmark the firms in the group. One observation that comes from this activity and also with working with other firms more generally is that many firms are seeing a squeeze on their margins. That is, salary costs are rising faster than the fees are increasing. The…
Read MoreBusiness advisory using a divisional approach
As we enter a new decade, I have been thinking about the ongoing issue in the industry around getting a systematic and profitable business advisory service happening with accounting firms. The two “C’s” arise again and again; being a lack of commitment to change and create a new practice model and capacity (time) to actually…
Read MoreClear as mud
Often when I am undertaking a firm review I see documents and emails of advice that are many pages long and contain a wealth of technical jargon and references to legislation and cases. There is no doubt that a lot of work has been done and that the advice is probably right. However, it is…
Read MoreHope in Financial Planning
Over the course of the past year or so I have written and spoken many times about the wonderful opportunity for the accounting profession to take the leading role to provide financial planning services to the community. With the exit of most of the big institutions, the accounting profession, which enjoys high community trust, is…
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