As a Director of a Company, you need to take all measures to prevent insolvent trading.  Section 588G of the Corporations Act 2001, which imposes a positive duty on directors to prevent insolvent trading and highlights a few main principles that help directors to discharge that duty.  Here is the summary: A... Read More
The family impact - 11 May 2017
Going bankrupt is hard enough when you’re an adult and comprehend what is happening, but for the children and other family members, it just may be truly terrifying. The roller coaster ride is just beginning. The numerous effects of bankruptcy on a family can vary from each circumstance. Keeping the family united... Read More
Dealing with delinquents - 26 April 2017
Basically, delinquent debt is money that is owed, past the traditional 30-day period, by the debtor to another party, for goods or services rendered. Although debt over 30 days is considered delinquent, we are primarily talking about accounts that are still outstanding after 180 days. That is traditionally the point at which companies write off their debt and where they realise that the delinquent account may not be collectible. But you can take procedures to avoid getting to that point.  Read More
What's the secret? - 23 March 2017
As a Director, it is your obligation to know what is happening within your business.  If you can’t see something, how can you rely on that information? When Directors are exposed to liquidator insolvent trading claims they can defend themselves on the basis that they had no grounds to suspect that the company was insolvent at the time the debt was incurred, or that the company became insolvent by incurring that debt. The liquidator’s task of proving insolvency and a Director defending such an action is quite complex and... Read More
Cutting Costs - 09 March 2017
Are you guilty of cutting costs rather than driving revenue to remain profitable? Managing the costs of a business is challenging at any time. But using the old “slash and burn” method to reduce costs can have dire impact on your bottom line. Combine your need to manage costs with the need to... Read More
Are you still doing business ‘old school’ and not embracing cost saving technology? Most new technologies are designed to save labour and increase efficiencies, so long as they work and are used correctly.  But there can also be an impact of digital disruption on every business across all industries. We have become so mobile in the way we do business and expect the interaction with your business to be as fast as possible and simplicity in its best form. Can your customers do business with you... Read More
There are real risks in financing capital expenditure ....... from your cash flow.  Business owners incur costs as a regular part of your company’s daily operations and they are unavoidable. This includes any maintenance or usage costs on equipment and machinery. However, you will also incur costs to acquire, build or improve assets you use for your business. The difference between these two is the difference between revenue expenditures and capital expenditures. Read More

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