The ATO has released its Annual Report for FY 2022 which noted that collectable debt had increased during COVID-19 from $26.5 billion as at 30 June 2019 to $44.8 billion as at 30 June 2022. With small business making up $29.3 billion which is 65% of the outstanding...
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Human resources can be a big expense for a lot of businesses.
The impact of COVID-19 sent shockwaves through the Global business sector, with reductions in turnover and falls in employment.
Many businesses are facing increased costs. This is not necessarily a new business challenge… but the COVID-19 pandemic is driving significant and unpredictable “price spikes”.
Humans are adaptable. That’s how we’ve survived for a long time!
No surprises, then, that people have quickly responded to COVID-imposed changes, like complying with lockdowns, wearing masks or working from home.
Business leaders rely on the accounting function for a variety of purposes. One of these is compliance, but leaders should have much higher expectations of their accounting function.