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Showing posts from August, 2022

DO YOU NEED AN ACCOUNTANT IF YOU USE XERO OR QUICKBOOKS?

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 Hello all, I have worked as a bookkeeper for the longest time, and it has been overwhelming to see the changes in the industry. The most prominent one is the introduction of the cloud-based accounting software that can be used by businesses to reduce the manual data entry work. These tools have automated invoicing, payroll, inventory management, recordkeeping, financial reporting, tax filing and more. However, I still feel that they cannot upstage bookkeepers because of the insightful advice offered by them. The professionals can help businesses to save money and use it appropriately. They teach financial management to the entrepreneur and take the business forward. Here is an article that will help you understand this better. https://www.agibookkeeping.com.au/do-you-need-an-accountant-if-you-use-xero-or-quickbooks/

New homebuyers enticed into market now face perfect financial storm

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 Farheen Khan and her husband Faizan Afzal are about to achieve the great Australian dream — buying a home where their children can grow up, with nearby parks and a good school. "It feels very special … having that sense of belonging to something that you've earned, you've made for your family, for your kids," Ms Khan said. "A place where you grow up together and make memories." The young family bought land in an estate in Perth's south in 2020, when the federal and WA governments offered big incentives to people wanting to build a new home. Read More: https://www.abc.net.au/news/2022-08-22/new-home-buyers-enticed-into-market-now-face-perfect-storm/101345696

Construction firms are collapsing after a loss-making boom, and 'massive greed' is to blame

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 After witnessing four decades of boom-to-bust cycles in Australia's residential property industry, experienced Gold Coast developer Soheil Abedian puts the construction industry's current woes down to one simple reason: greed. In fact, it's "massive greed", he says, that is a product of "the capitalist system that we have in Australia and the Western world — that everybody would like to have more and more profit". He says the construction industry's current woes were created by too much government stimulus, short supply and unsustainable prices. Read More: https://www.abc.net.au/news/2022-08-23/greed-construction-loss-making-boom-sees-builders-collapse/101334170

Will this property price downturn be different to the last?

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 Australian property booms last more than three times longer than downswings on average and when prices fall they only lose a fraction of the gains made, new analysis shows. But economists say that trend may have come to an end and the current property downturn could be the steepest and longest since the 1990s as the days of rock bottom rates are over and households are more indebted than ever before. Domain analysis of almost three decades of data found that in previous property booms, house prices on average rose 32.7 per cent across the combined capital cities and the upswing on average lasted 33 months. Read More: https://www.smh.com.au/property/news/will-this-property-price-downturn-be-different-to-the-last-20220822-p5bbtb.html