Blog

Financial Management for Medical Professionals

Medical Professional Financials
As a medical professional, your focus should be on your patients, not tax returns and spreadsheets. However, the reality is that sound financial management is crucial for managing your practice, having patients return, and ensuring long-term financial security. That’s where working with a medical accountant can make all the difference. This article explores what medical professionals need to know about financial management in order to make informed financial decisions. For personalised advice, contact our team at Foresight Accounting today. The Unique Nature of Medical Practice Finances All businesses manage their workflows and systems differently. In medical practices, medical professionals also...
/0 Comments/by

End of Financial Year Tax Strategies

End of Financial Year Tax Strategies
As the end-of-financial-year approaches, it’s more important than ever to assess your tax plans or start actioning new ones. In Australia, poor taxation planning means more than simply missing out on valuable deductions; it could result in costly fines and penalties. Effective financial year tax planning might be the difference your business needs to succeed and grow. In this article, we’ll outline the top strategies you should use to put your business in the best position. For personalised business accounting and end-of-financial-year taxation advice, contact our team at Foresight Accounting today. The Financial Year and Common Practice In Australia, the...
/0 Comments/by

Understanding Cash Flow Management in Your Business

Understanding Cash Flow Management in Your Business
Your cash flow is crucial to your business's success. Without the right management strategies, you could risk losing money and putting your business at risk. In the last 12 months alone, 80% of small to medium businesses experienced a negative impact on their cash flow. This could significantly hamper operations, resulting in missed financial opportunities or declining profits. While you may think it's simply keeping an eye on your accounts, it's actually a bit more complex than that. This article outlines the key steps to effective cash flow management, helping you keep your business on track. For personalised business accounting...
/0 Comments/by