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Business advisory in Brisbane: what a good adviser should do for you
Compliance accounting looks backwards: tax returns and BAS. Business advisory looks forward: cash, pricing, structure, funding and growth. Here is what good advisory should look like for a small or medium business.
What it should cover
- Cash flow: a rolling forecast and a plan for tight months.
- Profitability: pricing, margins and job costing. See markup vs margin.
- Structure: company, trust or both. See company vs trust.
- Funding: getting lender ready and choosing finance.
- Tax planning before 30 June, not after.
- Regular reporting you actually read: a monthly one-pager with a few numbers that matter.
Questions to ask before you engage
- Is the fee fixed, and what exactly is included?
- How often will we meet, and what will I get each month?
- Who does the work, and are they a registered tax agent where tax advice is involved?
Read when to bring in a fractional CFO and fractional CFO vs bookkeeper vs accountant, or book a conversation.
Quick answers
What is the difference between an accountant and a business adviser?
Compliance accounting covers tax returns and BAS. Advisory looks forward at cash flow, pricing, structure, funding and growth.
What should I ask before engaging a business adviser?
Ask what the fee includes, how often you will meet, what reporting you will get and who does the work.
Sources
General information only. This article does not take into account your circumstances and is not tax, legal or financial advice. Rates and rules change; check the sources above and get advice for your business before acting.
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