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Developing financial reporting for your business

Having sufficient and up to date accounting records provides vital information for businesses to be able to prepare reports that can determine how they are performing. These financial reports provide summaries of transactions which give an accurate representation of the past, current and future forecast of the business. Therefore, financial reporting should be carried out on a frequent basis.

How to avoid triggering an ATO audit

Sometimes inconsistencies within our individual and business tax can cause significant issues at tax time and may trigger an investigation or full audit from the Australian Taxation Office (ATO). Inconsistencies can occur as a result of honest misjudgements but can also unfortunately be deliberately deceptive too.

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