We thought this week we’d start off with a great Getty image of an accountant at a beach. Then as the dream of the beach disappears (sorry) we thought we’d recount a recent conversation we had with an Australian accountant. This accountant was a principal of a firm in Perth. He was a part owner, with other major owners being …
Selling the Accounting practice ball and chain… Thoughts part 1
As many Australian accountants come to considering when to sell up their main asset of their working life, their accounting practice, it’s interesting to see how people start to consider readying their practice for sale. As Odyssey has been providing outsourcing services to Australian accountants for over a decade, we’ve seen a few accountants sell up their practice or consider …
Why bringing your outsourced work back inhouse often isn’t seamless…
An ex client of Odyssey reached out to me last week, and wrote the following: Dear David, It has been some time since I have made contact. I was wondering if we could touch base. We used Odyssey for the majority for SMSF clients in the 2016 year, approximately 40-50 funds. Most of these were handled by our senior accountant …
Forecasting the future of Australian Compliance
Nassim Taleb was credited with the black swan theory and indicated that the black swan event depends on the observer. So in respect of the turkey and the butcher, the outcome is the same, but the event is not a black swan event to the butcher. The object then is not to become the turkey. A turkey is fed for 1,000 …
The Future of the “Per Seat” Resource Model
I was talking to a Philippines BPO provider the other day who has been operating in this space for more than three years. They offer full time employees to Australian accountants on a per seat fee basis and he had some interesting comments about the resources. In the financial planning area they were making good money. They were doing okay …