by Swot Accoountants | Jan 31, 2021 | Tax & Compliance
Medicare Levy The Medicare levy helps fund the Australian public health system. The levy pays for public hospitals, doctors, nurses, and other health-related costs. Most Australians pay the Medicare Levy, which is 2% of their taxable income, in addition to the...
by Swot Accoountants | Dec 3, 2020 | Business News
In Australia, as much as 97% of all businesses fail. According to the Australian Bureau of Statistics, more than 60 percent of small businesses fail just in the first three years of their operations. That’s a scary statistic for hard-working individuals that are...
by Swot Accoountants | Nov 12, 2020 | Business Training
A statement of cash flows shows how much cash is moving in and out of a business over a particular period of time. Understanding the cash availability to pay debts and purchase materials is a very critical aspect of every business. The statement of cash flows is one...
by Swot Accoountants | Nov 12, 2020 | Business Training
A balance sheet is a financial statement, also known as a “statement of financial position” that report a summary of all business assets (what the business owns) and liabilities (what the business owes) at a particular point in time. The balance sheet is one of three...
by Swot Accoountants | Nov 12, 2020 | Business Training
A profit and loss report, also known as an “income statement” summarises business profitability over a specific period of time. Commonly used to show business performance on a monthly, quarterly, or annual basis. A profit and loss report shows the total income and...
