January 31, 2012

Andrew Graham, national head of business solutions, said, “There is no doubt that businesses in Australia are facing a difficult economic climate in 2012, which could lead to a potential rise in insolvenciesover the coming 12-18 months.

“Some businesses have already started the new year with cash flow difficulties as the cash cycle has tightened considerably through December and January. Now is the time for business owners to consider opportunities to restructure their business in light of what’s not working for them.

“Business owners need to remember that it is never too early to seek help and ask advice from accountants, business advisors or other specialists if they are worried about their business or managing cash flow.”

These tips can help businesses remain in the best possible shape for the year ahead:

1. Review the products and services you sell and tailor the mix to appeal to changing customer needs for 2012. Start considering and planning for other times in the year when customer needs change, for example Easter and change in seasons.

2. Review pricing structures to ensure competitiveness and profitability. Put formal procedures in place to monitor and proactively respond to competitor pricing changes.

3. Review stock levels to make sure you can satisfy customer demand for profitable product and service lines, and identify slow moving stock that can be liquidated as “bargain buys”.

4. Review sales, marketing and promotion plans and make sure they are optimised to help achieve the best results throughout 2012. Ensure all staff are aware of the targets for each week and be proactive in addressing shortfalls.

5. Review staffing plans and confirm acceptance of the rosters by all staff. For non-retail businesses, aim to schedule annual leave plans for the year as early as possible to ensure the business continues to operate effectively all year round.

6. Review fraud and theft protection systems and ensure all staff are reminded of their responsibility to be vigilant at all times.

7. Review debtor lists frequently and regularly and actively chase all overdue accounts.

8. Review the use of finance products for effectiveness. Overdrafts, premium funding, lease facilities and cash flow funding products can all be excellent tools to help match a business’s cash flow with planned outlays.

9. Complete a GST health check. Small businesses are in danger of losing time and money because of unreliable or outdated business systems causing them to incorrectly report GST.

10. Remember that you deserve to enjoy a break as well and it is vital that you are able to operate well. Plan some time off during slower periods throughout the year so that you are well rested and enthusiastic in the busier periods. Take care of your health and enjoy downtime with family and friends during the year.

-ENDS-

About RSM Bird Cameron
RSM Bird Cameron is the largest mid-tier accounting firm in Australia with national ownership and profit sharing and offers a full range of specialist advisory services, including business consulting and advisory, assurance and advisory, taxation consulting, corporate consulting and turnaround and insolvency. RSM Bird Cameron is a core member firm of RSM International, the sixth largest network of independent accounting and consulting firms in the world.

​December 1, 2011

“Traditionally business plans have been lengthy and all-encompassing documents. Though there is a place for comprehensive business plans they are often a static representation of past history and future plans and not responsive to the modern business environment. 

“The real skill is not in writing pages of detail, but in developing the ability to get the real story across succinctly. A one-page outline of the business vision, values, objectives and how you will use your competitive advantage to achieve them will ensure you have the best tool to communicate the business plan.”

What is killing the traditional business plan?
* Rapid change means the formal written business plan is often irrelevant the moment the ink is dry.
* A five-year business plan can restrict business’ responsiveness to changing market conditions and blind business owners to new opportunities.
* More entrepreneurs are starting businesses to take advantage of a short-term opportunity and with an exit already in mind, which influences the way they plan.
* Many small and medium-size businesses have never found business plans useful and increasingly are saying so.

What is replacing a traditional business plan?
* A one-page living document that is continually updated.
* Entrepreneurs with highly developed communication and presentation skills who are “walking articulators” of the plan.
* Specific documents highly tailored towards meeting the needs of business’ stakeholders, including banks, venture capitalists, suppliers and alliance partners.

While every business should have a business plan there are some instances when a solid business plan can provide additional benefit including when a business is:
* stagnant or failing
* going through business simplification
* introducing new product lines
* being purchased by new owners
* expanding
* experiencing cash flow problems.

According to RSM Bird Cameron’s thinkBIG 2011 research study, SME owners who plan their business are significantly more likely to experience revenue growth, with 80 per cent who plan their business experiencing growth over the last two years compared with 60 per cent who don’t plan.

Graham said, “Business planning disciplines can be weakest in newly established businesses because of time constraints. At a time when business owners should be examining the market they are trying to penetrate, the competitors they are trying to defeat and the customers they are trying to capture, they are pushing those activities aside in favour of working in the business.

“Implications of this approach for longer term growth include capital being more difficult to obtain due to a lack of a well-documented plan for the lender and missing breakthrough strategies if the time is not invested in examining the market thoroughly and searching for real differentiation.

“While dedicating time and energy to a business plan can be tedious and challenging, the effort is well spent. Businesses should spend at least 20 per cent of their time working on their business, not in it.”

Tips for developing a solid business and why every business can benefit from having one.
* A good business plan should be detailed yet succinct. Many invested entrepreneurs find it hard to break down their most precious concepts to a minimum. Business owners need to be able to write a business plan as a skeleton or outline for what they want the business to achieve and how it will do so.

* Solid business plans include a statement of business objectives and a financial, marketing, and operational  plan.

* Business planning correlates with higher rates of growth. Examining the market, competitive positioning and the products and services your business offers is an essential prerequisite to systematically pursuing and capturing opportunities.

* When completed, a business plan should be reviewed frequently to ensure that actual business activities are in line with the plan. Be prepared to change your plan if there are major shifts in the industry, market or general economic conditions.

* The action of writing out a plan will give you an objective and more focused view on what you are intending to carry out and how. This in-depth analysis will help you foresee potential gaps or hiccups, and help to eliminate surprise hurdles and obstacles.

* Carrying out regular market research for your business plan will mean you will have in-depth and current knowledge of your industry, resources and markets, and will help you avoid mistakes made by competitors.

* Ensure you incorporate accountability into the business plan and be disciplined in implementing the actions that are required to move the business forward.

Graham said, “Business owners should be prepared to review, change and adjust the business plan to ensure the business goals continue to be attainable.

“Ultimately a business plan should be considered a tool for driving business strategy, providing an objective overview of the business and a better means of communication.”

-ENDS-

About RSM Bird Cameron
RSM Bird Cameron is the largest mid-tier accounting firm in Australia with national ownership and profit sharing and offers a full range of specialist advisory services, including business consulting and advisory, assurance and advisory, taxation consulting, corporate consulting and turnaround and insolvency. RSM Bird Cameron is a core member firm of RSM International, the sixth largest network of independent accounting and consulting firms in the world.

Andrew Graham, national head of business solutions, said, “Many businesses in Australia are again facing a volatile economic climate, and there is no doubt that an economic downturn could spell the end for some businesses.  This is demonstrated by a surge in insolvencies and the appearance of increased activity by the ATO in collecting long-standing tax debts.

“With this in mind there is a very real possibility many businesses will start the new year facing increased cash flow difficulties or just managing to get by, instead of looking at ways to strengthen and grow the business.”

Cash flow is already being stretched, and as always this will be felt even more throughout the new year period as the holiday season leads to payment terms being slowed beyond the delays businesses are already seeing.

Graham said, “Business owners need to remember that it is never too early to seek help and ask advice from accountants, business advisors or other specialists if they are worried about their business or managing cash flow over the holiday season.”

The below tips can help businesses start 2012 in the best way possible:

1. Review the products and services you sell and tailor the mix to appeal to changing customer needs for the holiday and new year season. Also start considering and planning for other times in the year when customers’ needs change, for example winter.

2. Review pricing structures to ensure competitiveness and profitability. Put formal procedures in place to monitor and proactively respond to competitor pricing changes.

3. Review stock levels to make sure you can satisfy customer demand for profitable product and service lines, and identify slow moving stock that can be liquidated as “bargain buys” or bundled into gift packages.

4. Review sales, marketing and promotion plans and make sure they are optimised to help achieve the best results not only during the holiday season but well into the new year. Ensure all staff are aware of the targets for each week and be proactive in addressing shortfalls.

5. Review staffing plans and confirm acceptance of the rosters by all staff. For non-retail businesses, annual leave plans need to be balanced and finalised as early as possible to ensure the business continues to operate effectively.

6. Review fraud and theft protection systems and ensure all staff are reminded of their responsibility to be vigilant as customer traffic increases and the pressures of Christmas expectations can motivate increased customer and staff theft.

7. Review debtor lists and actively chase all overdue accounts. Any amount not collected by December 23 is unlikely to be collected until February or later. Collecting money owed to you is good business – it does not make you a Grinch.

8. Review the use of finance products for effectiveness. Overdrafts, premium funding, lease facilities and cash flow funding products can all be excellent tools to help match a business’s cash supply with planned outlays, and may be especially useful in managing cash flow throughout the holiday season.

9. Complete a GST health check. Small businesses are in danger of losing time and money because of unreliable or outdated business systems causing them to incorrectly report GST.

10. Strategically plan end of year gifts and entertainment to key customers, prospects, suppliers and business partners to strengthen relationships into the new year rather than simply being a cost of doing business.

11. Carefully plan staff end of year parties to reward and recognise their efforts for the year. Remember your workplace obligations to provide a safe environment for the event in relation to alcohol and discrimination.

12. Remember that you deserve to enjoy a break as well. Plan some time off particularly around public holidays – take care of your health and enjoy some downtime with family and friends. The new year will dawn a brighter place if you end this one in a happy frame of mind, and feel prepared for the year ahead.

-ENDS-

About RSM Bird Cameron
RSM Bird Cameron is the largest mid-tier accounting firm in Australia with national ownership and profit sharing and offers a full range of specialist advisory services, including business consulting and advisory, assurance and advisory, taxation consulting, corporate consulting and turnaround and insolvency. RSM Bird Cameron is a core member firm of RSM International, the sixth largest network of independent accounting and consulting firms in the world.

Andrew Graham, national head of business solutions, RSM Bird Cameron, said, “It is easy to have accountants for many years that do the basics well – but not fully realise the value they should be offering beyond that. Or sometimes a business simply outgrows their existing accountant in terms of what they need and what can be offered.

“The depth of experience your accountant has, and the advice they can give, is vital to the success of your business, and should be a resource you can call on. This is particularly important as many businesses face an uncertain economic future.

“Most accountants provide basic retrospective analysis on the numbers given to them, coupled with some compliance, tax and super advice. The best accountants offer real practical business advice on how to effectively operate, manage and grow the business.”

RSM Bird Cameron has developed this simple test to help business owners assess the value their accountants offer them. Does your accountant:
* take time to understand your personal goals, needs and ambitions and actively work with you to achieve them
* take the time to understand the dynamics of your business and industry rather than just look at the numbers?
* identify opportunities for your business’ growth and improvement?
* provide ideas on how to make those opportunities work?
* help you identify your vision for the future of your business, your personal goals and the steps to get you there?
* create a regularly updated action plan to achieve those goals?
* agree on all fees and payment terms up front?
* help you understand the profitability of each product or service offered by your business?
* provide feedback and new ideas on marketing and advertising to generate better a return on investment?
* help you address any management and human resource issues, such as tax, payroll and superannuation questions or concerns?
* build key performance indicators specific to your business?
* help you understand what drives cash in your business?
* create plans to maximise cash flow?
* proactively monitor progress on a monthly basis so you can adjust quickly to maximise profits?
* help you establish business management systems so you have clearer picture of your operations?
* help you find ways to work ‘on’ your business rather than in it so you can realise a better quality of life?
* work to constantly increase your financial rewards and provide for a well-funded retirement?
* help you implement strategies for the future to make your business a more valuable and realisable asset by sale or succession?

“Having access to reliable and sensible advice could mean the difference between a business that thrives and a business that just gets by. If your accountant isn’t contributing to the success of your business it may time to look at other options.

“Ultimately you should be able to call on your accountant as a trusted adviser to help you make your business the best it can be,” Graham said.

-ENDS-

About RSM Bird Cameron
RSM Bird Cameron is the largest mid-tier accounting firm in Australia with national ownership and profit sharing and offers a full range of specialist advisory services, including business consulting and advisory, assurance and advisory, taxation consulting, corporate consulting and turnaround and insolvency. RSM Bird Cameron is a core member firm of RSM International, the sixth largest network of independent accounting and consulting firms in the world.

Looking at the balance sheet as well as the profit and loss (P&L) statement is vital to understanding the complete financial state of the business.

While there is no doubt businesses need to be profitable, they also need to sustain growth and have available resources to be reactive to customers and the market. The first step to improving cash flow management is to understand the dynamics of the balance sheet back to front.

Andrew Graham, national head of business solutions, said, “While most businesses understand and actively manage their P&L statements, the same can’t be said for managing the balance sheet. The error many people make is to focus on the P&L to the exclusion of all else, which can be a potentially fatal mistake as healthy profits can mask a cash flow crisis.

“In part this is because a traditional financial format of the balance sheet, which looks at the net financial position of the business, is not user friendly in terms of understanding what is going on in the business.

“Used in the right way, the balance sheet can be a valuable financial tool in showing the businesses net worth, the liquidity of the business, and liabilities.”

RSM Bird Cameron is suggesting businesses consider a shift away from the financial format to an analysis format to provide real insight into the business, and improve cash flow.

Analysis format works on the assumption that operations equal funding. It involves only looking at the assets in the business used to generate profit, which are fixed assets and working capital. It also considers the relationship of debt to equity in funding business growth.

Graham said, “Any change in the inputs required to operate the business will directly impact on the funding side of the equation. For example if debtor day blows out, the resultant cash shortfall will need to be funded by either an increase in debt or equity from owners or a combination of both.

“The premise of the analysis format is to make the invisible visible by highlighting the relationship between the operations of a business and how those operations are funded. Essentially it is about understanding the free cash generated by a business in order to repay borrowings and or increase dividends to owners, and is an absolute measure.”

Only with a comprehensive balance sheet is it possible to construct a useful cash flow budget. As a cash flow budget is only a “best guess” of a business’s cash inflows and outflows over a period of time, business owners should update and review the cash flow budget on a regular basis using conservative revenue and expense estimates. This will help provide an early warning system for potential cash shortages, and help build the business’s credit track record.

Graham said, “It is without question that a failing business will have cash flow difficulties, but business managers also need to be aware that a rapidly growing business is just as likely to have cash flow issues, and needs to keep in mind the implications growth will have on cash flow when expanding.

“Often it is during periods of rapid growth that businesses will either collapse or thrive.”

RSM Bird Cameron offers the following tips on improving cash flow:

1. Set credit terms carefully. The need to extend credit to customers is a fact of life for
most businesses, but it is important to set clear limits. Carefully research the standard credit
period for your industry and make an honest assessment about the consequences of shortening credit terms. Reducing the payment period from 90 to 60 days might lose you one customer, but if the others will pay more quickly it could be worth it.

2. Make debtors pay quickly. It is vital to master the art of debtor management. One suggestion is to ensure debtors know how much time they have by sending payment notices on different coloured paper – with 30 days to go, send a blue notice, 15 days an orange notice and bright red when payment is required immediately. Talk constantly with major debtors as payment deadlines approach. A small discount for early payment can also provide an effective incentive.

3. Pay creditors slowly. Take advantage of credit terms and prioritise costs according to the severity of the consequences for not paying. Wages, taxes and direct debits are at the top of the list, key suppliers second and everyone else last.

4. Smooth out the lumps. Know when lean cash flow patches are coming and plan accordingly. It is invariably more difficult to get debtors to pay at business activity statement (BAS) time and over Christmas, so make sure you have a bit of leeway in your cash accounts to pay wages and other inflexible expenses during these periods.

5. Use finance products effectively. Overdrafts, premium funding, lease facilities and cash flow funding products can all be excellent tools to help match a business’s cash supply with planned outlays.

6. Do not incur penalties. Some creditors may impose penalties for late lodgements or payments in some circumstances. Paying these debts first will save money and stress.

7. Keep your hands out of the till. Discipline yourself to make cash drawings only in line with conservative cash flow forecasts. Cash drawings are effectively just another expense for your business and should be acknowledged as such.

-ENDS-

About RSM Bird Cameron
RSM Bird Cameron is the largest mid-tier accounting firm in Australia with national ownership and profit sharing and offers a full range of specialist advisory services, including business consulting and advisory, assurance and advisory, taxation consulting, corporate consulting and turnaround and insolvency. RSM Bird Cameron is a core member firm of RSM International, the sixth largest network of independent accounting and consulting firms in the world.

According to RSM Bird Cameron the most common causes of insolvency include:
* under capitalisation
* poor financial control including maintaining inadequate records
* poor debtor management
* poor strategic management
* inadequate cash flow or inefficient cash use (cash burn rate)
* natural disasters or other unplanned business interruptions
* fraud
* director disputes
* trading losses
* economic downturn
* industry restructuring.

Andrew Graham, national head of business solutions, RSM Bird Cameron, said, “It is important for businesses to be aware of the signs of distress before it is too late. By closely monitoring your business it may be possible to turn things around in time.

“Even more important is for businesses to have controls and processes in place to prevent the business becoming distressed in the first place. This includes financial, production, organisational, and marketing controls.”

Financial
Signs of financial distress include having inadequate reserves to cover periodic contingences, ineffective control systems, cash flow, and working capital requirements.

Businesses that have poor cash flow management and inadequate reserves will find it more difficult to survive the loss of a major product or contract, will be unable to finance inflationary increases in debtors and stocks, and may find themselves having a high incidence of last minute requests for urgent temporary bank accommodation, or may even be at the limit of their current borrowing capacity.

Graham said, “Given the potentially difficult economic climate Australian businesses could be facing, it is vital to have a plan in place should they lose major customers.”
 
Businesses should also be conscious of consistent delays in producing financial results, delayed recognition of losses, and financial results that are not indicative of where the company is making or losing money.

Graham said, “If a business is unable to track where its money is going it is likely that resources could be seeping out of the business, which can lead to bigger issues if not reigned in quickly.”

Other key signs of financial distress include delays in dispatch of customer’s statements, high incidence of bad debts, and excessive amount of debtors in the overdue and disputed category.

Production
Signs of distress in production include a shift in raw material availability, declining productivity and poor housekeeping.

Graham said, “Fluctuating commodity prices and uncertainty of the source of supply for production can raise concerns for businesses but is not necessarily within the realms of their control.

“Businesses need to watch for escalating costs of production, excessive downtime, and failing preventative maintenance programs. They should be constantly monitoring output to ensure they are achieving the most from available resources and reducing waste and inefficiency wherever possible.”

Organisation
Organisational distress signs include the lack of a well-defined and balanced organisation structure, no clear business strategic or tactical plans or strategies and a failing business model (who your customers are and how you make money from them).

Graham said, “Businesses need to have a clear idea of where they have come from and where they are going. This includes having an up-to-date organisational chart, succession planning, formal business planning, and performance management processes.

“Reliance on a handful of people can be risky for business. If a business suddenly loses key people they may find there is no one that is across the core business. In addition, management needs to be able to delegate effectively to ensure they can focus on business planning and improvement and not get bogged down by day-to-day activities.”

Marketing
Be mindful of having a balanced product range, watch for declining gross margins, vulnerability to competition, unrealistic pricing policies, and high customer or industry dependence.

Graham said, “Closely watch declining or fluctuating sales trends. If sales have declined comparative to the prior year in two of the past three years this can be a key warning sign that the business may be trouble.”

“Business managers should be across all areas of operation. If one area is starting to lapse it should be addressed immediately before other areas of the business start to show signs of distress. It is never too early to seek help and ask advice from accountants, business advisors or other business specialists to rectify issues before insolvency is the only option,” he concluded.

-ENDS-

About RSM Bird Cameron
RSM Bird Cameron is the largest mid-tier accounting firm in Australia with national ownership and profit sharing and offers a full range of specialist advisory services, including business consulting and advisory, assurance and advisory, taxation consulting, corporate consulting and turnaround and insolvency. RSM Bird Cameron is a core member firm of RSM International, the sixth largest network of independent accounting and consulting firms in the world.

Andrew Graham, national head of business solutions, RSM Bird Cameron said, “The important thing for businesses to remember is that the various economic indicators are just that, indicators, and don’t necessarily impact every business the same.

“In addition, some indicators can impact positively or negatively depending on the type of business and the industry it is operating in. For example, the high Australian dollar is good for importers but not for exporters. The indicators need to be assessed individually and in context.

“There is no doubt that an economic downturn can spell the end for some businesses, and businesses are facing a volatile climate at present. This is demonstrated by a surge in insolvencies and the appearance of increased activity by the ATO in collecting long-standing tax debts, which have built up, particularly during the global financial crisis.”

The key economic indicators for businesses can include:
* the Australian dollar
* interest rates
* big business cancelling major projects and/or cutting staff
* headlines such as retail sales
* cash burn rate
* changes in invoice payment times
* the stock market.
 
Graham said, “Businesses should be paying close attention to interest rates as decreases only happen for a reason, and can be a sign of trouble ahead. They should also watch what big business is doing as they are often the first to experience distress. Cancelling large projects and cutting staff can have a flow-on effect.

“Businesses should monitor, but pay less attention to, the stock market. While fluctuations create uncertainty, often these fluctuations really have nothing to do with the actual health of many businesses but are more representative of general investor confidence and sentiment.

“It is important for businesses to be aware of what is happening in the market but it is equally important to take a step back and objectively assess whether your business is really showing signs of distress before becoming excessively concerned. Economic downturn is just one reason that businesses become insolvent.”

Other major causes of business failure, which can lead to insolvency, are more likely to include:
* under capitalisation
* poor financial control including inadequate records
* poor debtor management
* poor strategic management
* inadequate cash flow or high cash use (increased ‘cash burn’ rate)
* natural disaster
* fraud
* director disputes
* trading losses
* lack of innovation or product development
* contracting markets
* out dated business model
* industry restructuring.

Graham said, “It is important for businesses to be aware of the causes of business failure, and to have controls and processes in place to mitigate the risk of becoming insolvent.”

-ENDS-

About RSM Bird Cameron
RSM Bird Cameron is the largest mid-tier accounting firm in Australia with national ownership and profit sharing and offers a full range of specialist advisory services, including business consulting and advisory, assurance and advisory, taxation consulting, corporate consulting and turnaround and insolvency. RSM Bird Cameron is a core member firm of RSM International, the sixth largest network of independent accounting and consulting firms in the world.

August 5, 2011

The iAwards Gala Dinner and National Awards Presentations was held in Melbourne on Thursday, August 4 2011.

The 2011 iAwards honours companies at the cutting edge of technology innovation, and leading professionals in the industry. Most importantly, the iAwards honours the achievements of home-grown Australian innovators.

The iAwards has expanded in 2011, delivering the most comprehensive iAwards program in the technology industry today by collaborating with Australia’s three peak industry bodies:
* The Australian Computer society (ACS)
* Australian Information Industry Association (AIIA)
* Pearcey Foundation.

Stewart-Rattray has 24 years’ experience in ICT, consulting on information security issues with a particular emphasis on governance in commercial and operational areas of business in industry sectors including banking and finance, utilities, automotive manufacturing, tertiary education, retail and government.

Stewart-Rattray is the International Vice President of the International Systems Audit and Control Association (ISACA) and is the chair of its International Leadership Development Committee and Security Culture Taskforce.

She was appointed to the International Council on Large Electrical Systems (CIGREs) international working group B5.38 and worked with the group to assess information security risks in power system operations within supervisory control and data acquisition (SCADA) systems and the implementation of security controls.

Stewart-Rattray currently sits on the Control Objectives for Information and related Technology (COBIT) for Security Taskforce and is a co-opted member of the ACS South Australian Branch Executive Committee (BEC).

Stewart-Rattray said, “It is an honour to be recognised by my peers and the industry for my contribution to the ICT sector. I would like to take this opportunity to congratulate the other iAward winners and nominees.”

-ENDS-

About RSM Bird Cameron
RSM Bird Cameron is the largest mid-tier accounting firm in Australia with national ownership and profit sharing and offers a full range of specialist advisory services, including business consulting and advisory, assurance and advisory, taxation consulting, corporate consulting and turnaround and insolvency. RSM Bird Cameron is a core member firm of RSM International, the sixth largest network of independent accounting and consulting firms in the world.

Dr Rod Paton, Dentist, said, “As a dentist, my focus is on my patients. I rely on RSM Bird Cameron to help manage the business side of the practice – whether it’s planning tax affairs or feedback on ways to improve, I know they’re looking after my interests.”

RSM health+ understands the challenges that health professionals commonly face, such as lack of resources, capital or succession planning. RSM health+ is designed to help overcome these challenges while building wealth, balancing risk and effectively managing cash flow.

Kim Hutchinson, national chairman, RSM Bird Cameron, said, “The RSM Bird Cameron difference lies in the close and enduring relationships it has with its clients. RSM Bird Cameron works closely with health professionals, regularly consulting with its advisory panel of health professionals to ensure that it is across the latest developments and opportunities.

“RSM Bird Cameron’s ability to provide advice within tight timeframes means health professionals are able to make decisions efficiently, while maintaining focus on their business and taking maximum advantage of opportunities when they arise.”

Damian Bennett, Bennett Pharmacy Group, said, “Over the last 15 years, RSM Bird Cameron has provided expert advice and guidance as we have bought, sold and operated pharmacies. We now operate across two states with annual sales exceeding A$10m.”

Hutchinson said, “RSM health+ draws on almost 100 years of experience and offers expertise from more than 70 directors in 28 offices across Australia. It has the technical knowledge to drive health professionals’ business processes, build wealth and protects assets long term so they can put patients’ needs first every time.”

RSM health+ offers advices in the specialist areas including:

Tax advisory services
* Specialist knowledge of health accounting and taxation issues
* Compliance GST, fringe benefits tax, income tax
* Non-commercial losses
* Income splitting
* Negative gearing

Wealth creation services
* Personal wealth goal setting
* Budgeting for lifetime financial requirements
* Succession planning
* Self-managed superannuation funds
* Exit strategies and management succession

Asset protection services
* Structuring advice
* Wealth management and preservation
* Ownership succession
* Asset protection
* Business valuations

Cash flow services
* Business plans and budgets
* Financial management
* Merger and acquisition advice
* Feasibility studies
* Capital raisings
* Finance applications.

-ENDS-

About RSM Bird Cameron
RSM Bird Cameron is the largest mid-tier accounting firm in Australia with national ownership and profit sharing and offers a full range of specialist advisory services, including business consulting and advisory, assurance and advisory, taxation consulting, corporate consulting and turnaround and insolvency. RSM Bird Cameron is a core member firm of RSM International, the sixth largest network of independent accounting and consulting firms in the world.

The new partner appointments include:
* Angus Dickinson – Sydney Risk Management Services
* Jane Meade – National Technical Director
* Scott Fleay – Perth Business Solutions.

The new principal appointments include:
* Paul Rogan – Business Solutions Manager, Ballarat
* David Rumble – Melbourne Tax Services.

The new national executive appointments include:
* Neil Hough – Asia Pacific Director.

Terry Rodoni – Business Solutions Director has also been reappointed as a national executive.

Kim Hutchinson, National Chairman, RSM Bird Cameron, said, “These appointments reflect RSM Bird Cameron’s continued growth and success. We extend our congratulations to the newly appointed partners, principals, and national executives on reaching these milestones.”

-ENDS-

About RSM Bird Cameron
RSM Bird Cameron is the largest mid-tier accounting firm in Australia with national ownership and profit sharing and offers a full range of specialist advisory services, including business consulting and advisory, assurance and advisory, taxation consulting, corporate consulting and turnaround and insolvency. RSM Bird Cameron is a core member firm of RSM International, the sixth largest network of independent accounting and consulting firms in the world.