Joy Linton

Geopolitics is heavily impacting Australian retail. KPMG Australia latest report explains key geopolitical trends and how retailers can build resilience.

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Are you making any of these accounting mistakes? We’ve outlined the top 5 accounting pitfalls that small business owners trip over, so you don’t have to make the same mistakes #businessadvice #SmallBusiness #accounting

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Have you delved into the insights from KPMG's Aged Care Market Analysis report for 2024? This report, prepared by Nicki Doyle and team, and a timely share from DCM Group, offers valuable data and observations. Key themes highlighted in the report include continual need for innovation, financial pressures on providers, and market consolidation to support the growth of the elderly. Here's a quick summary: **Residential Aged Care:** - Provider Concentration: The top 25 providers now control 44% of all beds, with major players like Opal HealthCare, Bolton Clarke, and Regis Aged Care. - Consolidation Trends: Efforts towards economies of scale have led to a slight increase in the number of beds but a decrease in facilities and providers. - Financial Pressure: 64% of providers are operating at a loss due to regulatory requirements and financial challenges. **Home Care:** - Growth in Home Care Packages: A 19% increase in users, supported by increased government funding. - Provider Dynamics: 846 providers in the market with the top 25 receiving 41% of government funding. - Popularity of Self-Managed Care: Models like Trilogy Care are on the rise. **Key Concerns:** Financial viability, regulatory burden, and workforce shortages remain critical challenges in the sector. **Opportunities:** Technology integration, innovative business models, and market growth present avenues for providers to enhance their services. For a detailed analysis of the trends, access the full report [here](https://lnkd.in/gFVpmh4d). #Innovation#Financialsustainability#optimiserevenue#consolidation#technology# Anchor Excellence Cynthia Payne Carla Beheram Sarina Rodgers Judy Martin Irene Stein Akanksha Bernard Claire Ward

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Why does your CFO want to leave?? In the dynamic landscape of aged care in Australia, the role of the CFO is becoming increasingly complex and critical. Recent observations indicate that a significant portion of CFOs in this sector are facing unique challenges that might contribute to their high availability for new opportunities. The aged care industry is grappling with several key issues: Regulatory Changes: The constant evolution of regulations requires CFOs to stay ahead of compliance requirements while ensuring financial stability. Funding Pressures: With funding models shifting and financial sustainability being a primary concern, CFOs must navigate the delicate balance between cost management and delivering quality care. Workforce Management: Managing the financial aspects of a large, often underpaid workforce while maintaining morale and service quality is a tough balancing act. Technological Advancements: Integrating new technologies for better care delivery and operational efficiency demands significant investment and strategic financial planning. Aging Infrastructure: Many aged care facilities require substantial investment to update or replace outdated infrastructure, adding another layer of financial complexity. Given these multifaceted challenges, it’s not surprising that many CFOs might be exploring new opportunities, at a significantly higher rate than other aged care executives. As someone deeply interested in the aged care sector, I find these insights crucial for understanding the current state of financial leadership in this space. Sharing these perspectives not only highlights the critical issues at hand but also opens up discussions on how we can collectively support and enhance the role of finance leaders in aged care. If you're a CFO or leader in the aged care sector facing these challenges or have insights to share, I’d love to connect and discuss how we can navigate these complexities together. Your experiences and perspectives are invaluable in shaping the future of aged care finance. #agedcare #CFO #financialleadership #executivesearch #australiaagedcare #execuitveturnover

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Your mindset determines your success. How successful are you? We’re in the business of financial transformation and our core purpose is to eradicate financial stress. We achieve that by combining our technical and accounting expertise with our dedicated and supportive team. If you need assistance with your accounts, contact Sarah on 0402 811 088 or book a complimentary meeting here. 👇 https://lnkd.in/g9_8V4Vn #bookkeeping #missefficiency #smallbusiness #technology #cloudaccounting #cloud #systems #businesssystems #success #businesssuccess #productivity #bookkeepingexperts #brisbanebookkeeping #workingmum #worklifebalance #xero #worksmarter #productivity #timemanagement

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Key findings revealed. The CPA Australia 2024 Business Technology Survey explores how AI and emerging technologies are driving innovation. Tune in to gain expert insights from a leading tech and finance expert.

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Aged Care – An industry in crisis? Key challenges are facing the aged care sector with the Institute of Directors New Zealand identifying in their article “Age-old problem” that bed numbers will need to double by 2040, this suggests an additional 38,000 beds! We are currently observing several organization's supplying aged care services having to close due to them not being financially sustainable. The majority of these failures relate to stand-alone aged care facilities that do not have diversified revenue streams from say retirement villages. With the number of over 65’s growing substantially and those under 15 reducing as fertility declines, we are going to have to consider a sustainable funding model that will support the expected demand. This is going to require the industry and government to work together to find innovative ways to ensure their sustainability and where the financial burden falls. This is far from an easy challenge however the alternative option of having our elderly filling hospitals is not fair on them or financially sustainable for the government. Read more in the attached article. #NZACA #IOD #Eldernet #agedcare #propertyandconstruction #sustainability

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With tax time right around the corner, it’s important to stay on top of your reporting and employer obligations. 💼 The Australian Taxation Office shares their tips to help you with your payroll governance, including single touch payroll, fringe benefits tax and pay as you go. Read the tips 👇

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Discover the complexities of Australia's labour landscape with KPMG's first edition of 'Australian Labour Market in Detail'. Gain insights into the multifaceted forces shaping our employment sector, utilising the innovative KPMG Labour Market Pressure Index. Download now.

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Terrific start to the CPA Australia Congress in Canberra with keynote from Dr Asheley Jones …. how AI is transforming finance and how accounting professional careers will change around data, decision making and risk management.

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81% of Australian tech executives say they are struggling to keep up with the pace of change. Learn more in our report

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To Pay or Not To Pay? Board Remuneration Board remuneration is a complex topic for many not-for-profit organisations. In this article, Michael Goldsworthy shares a framework that boards should consider when discussing whether or not to pay their directors. The article touches on factors such as legal responsibilities, governance structures, risks, and the evolving expectations placed on directors of community businesses. Key points covered include: ✅ Legal frameworks governing not-for-profits and board responsibilities ✅ Importance of comprehensive governance systems, including a board remuneration policy ✅ The balance of risk, responsibility, and reward for board members ✅ Real-world examples of organisations that have opted to pay or not pay their board members 🔗 Read the full article: https://lnkd.in/gTtmeSGw

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Our new article - Navigating diverse patient needs in Australian healthcare highlights the challenges the sector faces as it seeks to balance patient care with cost efficiency. #healthcare

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We are living through a period of rapid change. Are you prepared?   Chartered Accountants Australia and New Zealand is hosting a live webinar with renowned Global Futurist Dr Keith Suter, who will explore three key ways of thinking about the future to reduce the risk of being taken by surprise: prediction, preferred futures (how to make the competition irrelevant), and possible futures (thinking about the unthinkable). Register below: https://lnkd.in/gUavXiqX

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Australian major banks remain resilient despite economic uncertainty. In the latest FY24 results, the major banks reported a combined profit after tax of $29.9 billion, down 5.7 percent compared to FY23. Read our full results analysis, insights on key topics and explore our interactive banking dashboard.

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Australian major banks remain resilient despite economic uncertainty. In the latest FY24 results, the major banks reported a combined profit after tax of $29.9 billion, down 5.7 percent compared to FY23. Read our full results analysis, insights on key topics and explore our interactive banking dashboard.

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📢 The Future of Accounting & Advisory in Australia One of the highlights from the AccountantsDaily ACE24 Conference last week was the presentation by Julia Thomson (nee Mann) from The Benchmarking Group on the future of the accounting and advisory industry Australia. A few key takeaways that I found interesting: 1. CURRENT STATE 💣 Supply and Demand Imbalance: There is an overwhelming amount of work but not enough professionals to handle it, leading to a significant strain on resources. 📈 External Trends: Top Professions for University Students: 1) Mental Health Therapist 2) Lawyer 3) Engineer 😩 Accounting as a career choice didn't fare well, largely due to its perceived dullness and heavy workload compared to other professions 2. TRENDS - Next 3/5/10 years Next three: 🗣 Growth of Advisory Services: Increased focus on providing advisory services with a shift towards value-based pricing. 💹 Mergers and Growth: A wave of mergers will drive growth in mid-tier firms, expanding them to 20-50 staff members. 🥇 Year-Round Client Service: Firms will focus more on serving clients continuously throughout the year. Next five: 💈 Rise of Specialist Firms: There will be a rise in advisory and specialist firms, particularly in areas like ESG (Environmental, Social, and Governance) and cybersecurity, attracting more newcomers with exciting work. 💰 Revenue Shift: Less than 40% of revenue will come from traditional accounting services. 👨‍💻 Technology Integration: Firms will increasingly integrate AI and other new technologies into their practices. Next 10: 👨‍⚕️ Specialization and Workforce Evolution: There will be more specialized services and a more diversified workforce. 🏖 Work-Life Balance: A permanent move towards a 35-hour workweek, a nine-day fortnight, and five weeks of vacation. 🤘 Industry Rebranding: The accounting industry will rebrand itself, shifting its focus from merely dealing with money to providing meaningful work and services. 3. WHAT FIRMS CAN DO NOW: 📩 Client-Centric Approach: Focus on deeply understanding and solving clients' broader challenges. 💸 Value-Based Pricing: Gradually implement value-based pricing models. Flexible Work Understanding: Develop a clear understanding of what flexible work means for your firm. 👩‍💼 Productivity Focus: Use AI to reduce administrative tasks and enhance productivity. 🗒 Long-Term Planning: Develop a 10-year plan addressing whether you want to buy, sell, specialize, and what your exit strategy will be. 🎯 Make It Meaningful: Rather than trying to make the profession "sexy," focus on making it meaningful. A very interesting presentation that should be reviewed by all accounting and advisory firms looking to navigate the evolving landscape and develop a winning growth strategy. #accounting #professionalservices #advisory #strategicplanning

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