Business Structure & Succession Planning
A suitable business structure can be of great benefit with asset protection or tax effective outcomes. Changing structures unnecessarily or with poor timing can be very costly to you and your business. The most effective structure should also incorporate succession planning so your business structure is established not just for today but also for the future.
The economic value of your interest in the business is measured in certain circumstances and requires a specific method of valuation. Selling a business, or a part-ownership, would generally mean a valuation is required as would a divorce or tax dispute or other legal matters. If you’re considering the purchase of a business, failing to conduct due diligence could be an extremely costly exercise. Talk to us if these events are likely to affect your business.
Every business needs to measure and review their financial results, but varying industries need different levels of reporting. We can streamline the financial reports to ensure your business results provide you with the level of detail or summary necessary for effective decision making.
We can provide a comprehensive company secretarial service for your entity. We can organise trust deeds, register companies and business names. We are able to update ASIC records when changes occur in your organisation and manage members’ and officeholders’ registers for you. We can ensure that your ASIC lodgements are met annually.
S Barry Accounting can support you in managing your business to achieve the best possible results. Whether it’s updating your mission statement and business plan or reviewing your day-to-day function, we can work with you to address business efficiency and other issues where you may benefit from an objective viewpoint. Regular contact and timely reporting means you are able to make more effective and informed business decisions. This is of significant benefit to a growing business where waiting until year end for financial results can cause unexpected tax consequences.
The software used by your business shouldn’t determine your accountant. Whether you’re using one of the major accounting software versions or a simple cashbook method, we’ll be able to accommodate your bookkeeping entries. We can assist you with more difficult entries if necessary and we’ll also update your accounts at the end of the year where there are any significant adjustments to be made.