Business Services

Rural & Business Advice

As a rural and regional based accounting firm, we are strategically placed to provide business advice to rural businesses and individuals.  Rural enterprises deal with issues that distinguish them from city cousins.

We have offices in Central and Far West NSW and are consequently well acquainted with issues peculiar to rural and regional economies.

Business Structuring

An effective business structure and planning for your business will assist you to make the right choices when challenges arise.
No one choice suits every business.

At MGH Advisory, we give careful consideration to factors affecting a business including:

·    The potential risks and liabilities of your business

·    The formalities and expenses involved in establishing and maintaining the various business structures

·    Your income tax situation, and

·    Your investment needs.
 

The right structure also depends on who will own your business and what activities will be conducted.  There has never been a more important time to partner with specialist business accountants such as MGH Advisory. We can help and advise you on the accounting, taxation and legal structure for your business.

Business Start-Up

If you have a good idea for a new business venture but don't have expertise in the legal or financial aspects of creating a new business, we can help you:

 

§  Decide on the most suitable structure for your business — Sole trader, partnership, trust or limited company

§  Prepare a business plan, cash flow projections, budgets, and trading forecasts

§  Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals

§  Establish a good working relationship with your bank

§  Register for an Australian Business Number with the ATO, including other associated business registrations.

§  Complete registration procedures with the Australian Securities and Investments Commission (ASIC)

§  Deal with company secretarial issues

§  Set up a recording system for your internal use and for complying with statutory requirements

§  Advice on Business Registrations with State Government agencies.

 

Let us help you turn your business idea into a reality!

Business Reorganisation & Restructure

Whether for taxation or greater business efficiency, we can help with restructuring a business, establishing new companies and trusts, or consolidation of business entities into group structures.

Bookkeeping/Accounting

Modern business requires up-to-date, accurate financial information. We can relieve you and your staff of the laborious burden of all your bookkeeping and accounting needs. At MGH Advisory, we can assist in streamlining this administrative function, so you can get on with core business matters.

 

We will discuss your requirements with you and provide information relevant to your particular situation, as well as constructive advice, on a regular basis.  If required, we can also assist in the preparation of interim and performance and management reports, regular budgets and cash flows and payroll issues.


Budgeting

A good budget is a necessity in a good business plan. It is one of the best business tools you can have, enabling you to set financial targets and measure your performance.


In addition to goal-setting value, budgets will often improve your chances of acquiring funding. Financiers often require budgets as a prerequisite for funding approval.

The techniques we utilise to form financial projections enable you to consider future scenarios and provide you with goals to strive for in your business. There are many types of budgets. We can help you design the right budget for your requirements.


Cashflow Management


Are you holding too much inventory? Is this the right time to expand your business? Are you going to have enough cash to pay all your expenses every month? Surviving in today's business climate requires you to spend more time working on your business than in it.

We can provide you with accurate, timely, informative cash flow forecasting reports that enable you to:

 
§        
Realise and understand when cash is available

§         Plan and prepare for expansion, stock control, and taxes

§         Analyse and anticipate key expenses

Equipped with this information, we'll work with you to develop action strategies that improve your bottom line.


Software Solutions

A decent accounting system will help you keep track of your cash flow and make completing BAS returns easy. Choosing the right system for your business can be difficult as there are over sixty different accounting packages available in Australia.

 
At MGH Advisory we invest considerable resources in ongoing staff training to ensure we can recommend the best accounting software solution for your business. A small investment in time upfront in allowing us to assist you in choice of program and program set up can save the business unnecessary heartache at a future point in time.

Corrections and adjustments can be costly so let us help you make the right choice of accounting software!

Salary Packaging

Find out the most tax effective way to receive your salary. Depending on where you work and the benefits you would like to receive you could make substantial tax savings by the correct salary package structure.


Primary Production Accounting


Farm accounting involves specific business, financial, and taxation issues, and a specialist understanding of the industry. At MGH Advisory we keep abreast of the developments in both the farming and accounting industries, ensuring we are uniquely placed to provide up-to-date, accurate advice.  We have a good understanding of the issues faced by primary producers with numerous partners and staff being either closely acquainted or directly involved in such activities themselves.

 

Our services include:

 

§         Farm budgeting and cash flows

§         Farm sales and purchases

§         Ownership structures

§         Preparation of financial statements

§         Taxation

§         Seasonal planning

§         Succession planning

Financial Statement Preparation

At MGH Advisory we understand the specialised and sometimes very individual accounting needs of business, professionals and individual clients.

We can assist you in meeting your financial reporting obligations. Our services include: 

  • Preparation of interim and annual financial statements for Individuals, Partnerships, Trusts, Companies and Superannuation Funds;
  • Preparation of Income Tax Returns for Individuals, Partnerships, Trusts, Companies and Superannuation Funds;
  • Preparation of tax planning strategies to minimise the amount of tax payable.

Company Secretarial

Company legislation requires businesses to perform several administration tasks that take up a lot of valuable company time. The last thing you need as a business owner is to be stressed out trying to ensure you comply with ASIC and the Corporations Law. The penalties for failing to keep up with the changing rules, is too great a risk to take.

 

At MGH Advisory we can relieve this burden for you. Our services include:

 
§        
General advice on company law

§         Company formations

§         Ensuring annual company statements are up-to-date and accurate

§         Preparing all documentation related to minutes and resolutions

§         Maintaining statutory books

§         Assistance with changes of directors, shareholders, addresses, and office details

§         Share transfers, including Office of State Revenue stamp duty requirements

§         Registered office facility

§         Director’s responsibilities and obligations

§         Liquidity Responsibilities of Directors   

§         Share issues and associated ASIC and company reporting

 
Please contact us for further information on how we can help you get back to running your business.

 

Copyright MGH Advisory © | Disclaimer | Site Map | Online software for accountants by Wolters Kluwer