Accounting and Financial Reporting

Constant Accounting prepares Financial Statements for all entities, including:

• Sole Trader
• Partnership
• Discretionary/Unit Trusts
• Company
• Superannuation Fund

We can prepare all annual special purpose financial reports, as well as interim management reports.

We are a forward looking, lateral thinking firm, therefore it is not only important to prepare financial statements that are accurate, but they must also be meaningful.

The accuracy is paramount in reporting under Australian Accounting Standards as well as reporting to the Australian Taxation Office, but equalling important they are to be a meaningful, forward looking business tool to ensure the financial success and growth of your business.

We will analyse and discuss your businesses past performance to keep your business on track to meeting your financial goals.  Business owners and managers need to understand “the numbers” to make educated and meaningful business decisions.

We can assist with the correct implementation of accounting software packages that meet your business needs, and have close working relationships with professional and qualified bookkeepers that can assist with data entry, payroll etc.

Business Consulting

Business consulting is at the very heart of Constant Accounting.  With over 20 years of practical real world business experience, this is the area we stand alone from other traditional accounting firms.

We take a holistic approach at your business structure to ensure that the interdependence of each area of your business as well as your business structure is in sync as a whole.

Business entities are not static, but dynamic in an ever changing business climate. We may need to tweak it a little or radically overhaul the structure.  If your current business structure is “out-of-date” and not meeting your current or future direction, we will advise and setup the correct structure for you.

We don’t just look at the numbers, but look at your actual business practices, systems, office or factory layout to ensure there are efficiencies and minimal wastage due to down time or double handling.

Constant Accounting can also assist with the preparation and lodgement your quarterly or monthly Business Activity Statements (BAS).

We have strong alliances with a network of experts that can assist in all aspects of running your business, including:

• IT and data backup
• Insurance (personal and business)
• Finance Brokers (equipment and property)
• Bookkeepers
• Lawyers
• Financial Planners

If you are looking at purchasing a new business, Constant Accounting can assist in the due diligence process.  We will analyse the proposed acquisition to see if the numbers “stack up”, and if it will add value to your current business model.  It is necessary to have this professional and unemotional opinion.

Also when it comes time to sell your business, we will work closely with your business broker and will assist in the preparation of the  necessary reports and documentation, including the preparation of Form 2.

Purchasing a commercial property or your business premises can be a daunting task.  We will analyse your unique circumstances and advise the most tax effective entity, also bearing in mind minimizing the exposure to risk.

The establishment of a Self Managed Superannuation Fund (SMSF) is quite a complicated process.  Constant Accounting will walk you through the whole process, as well as prepare all annual statutory financial reports and taxation returns.  Although borrowing through super is now allowed, there are specific rules that must be followed to ensure compliance with the SIS Act.

Taxation

The face of tax is constantly changing.  We take a practical approach to assist our clients to understand their tax obligations and the timing of these obligations as well as the implication of non compliance.

We can prepare and lodge all your statutory obligations with the Australian Taxation Office, including:

• Income Taxation Returns
• Business Activity Statements (BAS)

The areas of taxation we advise our clients on include, but are not limited to:

• Income Tax
• Goods and Services Tax
• Small Business Taxation and concessions available
• Capital Gains Tax as well as Small Business CGT Concessions
• Fringe Benefits Tax
• Research and Development Concessions
• Payroll Tax

Many small and medium businesses think that tax planning is only for the “big end” of town, but this is definitely not the case.  Tax planning is an essential business tool used to ensure that you are maximising your tax deductions effectively, whilst increasing your wealth.

GST is a very complex area of tax law.  Many business owners become overwhelmed with the ambiguities and complexities of applying and claiming GST.  Constant Accounting can assist you to understand and correctly apply and claim GST.