How can you reduce your accounting fees?

In a nutshell, 99.9% of accountants (and solicitors) charge on a time basis. Their working day is broken down into 6 minute intervals (Yes … you got that right … 6 minutes!) and time is allocated to clients whenever any work is done. So when you call your accountant, they “clock” you in and when they finish talking to you, you get “clocked out”. Then at the end of the week, a practice manager or partner will review that to check that the staff member has somehow miraculously managed to charge out the predetermined required number of hours to chargeable work ie to you, the client. The whip comes out at this point if the staff member has not managed to meet their required productivity.

Needless to say, this method of charging clients for work done can be abused (as with any other system) and can lead to you, the client, being charged for inefficiencies by the relevant staff member – which may or may not sometimes include the partner too!

This eBook Your Accountants Secrets Revealed will tell you how you can keep your accounting fees down and also give you suggestions as to what you should be looking for when you get your bill. To download your copy of the free eBook, just follow the link to TheCharteredAccountants.com

Australia’s Most Trusted People 2010

Never doubt that a small group of thoughtful, committed people can change the world. Indeed it’s the only thing that ever has.

Margaret Mead

It only takes a few caring people to change the world. At the top of this year’s most trusted list are people who strive to achieve just that. The 2010 Reader’s Digest Most Trusted People poll was published in its July 2010 edition. So, who made it into the list?

Not surprisingly – Dr Fiona Wood took out the No 1 spot again for the 6th year running. Jessica Watts, the young adventurer captured our imagination and catapulted into No 48 … ahead of ex Prime Minister Kevin Rudd who only managed No 81.

What about the professions? Ambulance officers, firefighters, nurses, pilots and doctors took out pride of place ahead of teachers and and childcare providers. Surprised to hear that plumbers rank ahead of accountants and religious leaders? And last but not least, will you be surprised that sex workers rank ahead of politicians for being trustworthy!!

10 Rules for an Executive’s Early Ulcer

Came across this list when I was going over my archives (Us accountants just don’t throw anything away) …

1. Your job comes first – all personal considerations are secondary.
2. Go to the office evenings, Saturdays, Sundays and holidays.
3. Take your brief case regularly with you – in this way you can review completely all the troubles and worries of the day.
4. Never say “no” to a request.
5. Accept all invitations to meetings, banquets, committees etc.
6. Don’t eat a restful and relaxing meal – always plan a conference for meal hour.
7. Regard fishing, golf, etc as a waste of time.
8. Believe it is poor policy to take all your holidays.
9. Never delegate responsibility – carry the whole load yourself.
10. If your work calls for travelling, work all day and drive all night, so that you can keep the next day’s appointments.

Can’t remember where this came from … It does makes you reflect on our time management. How often have you heard your families and friends tell you to “take a break”.  But we know better and we continue to work 24/7 (well, at least that’s what you’re being told!). Have you ever heard anyone say on their deathbed that they wished they spent more time at work?