WGC Flashcards
1
Q
Areas of Team Masters
A
Practice Management
Technical
Software
CBP
2
Q
Admin Correspondence for clients
A
NOA
ASIC
IAS
3
Q
Top 5 Challenges
A
Finding Talent - Staff Staff Retention Client Service/Care Automation Technology
4
Q
7 Industry Trends
A
Industry transformation - software Cloud Big Data - insights and analysis Mobile First Social Media Expanding Service Lines Changing Fee Structures - move to fixed fee Attracting right staff
5
Q
Admin upskill
A
ABN Applications Activity Statements Aged Debtors ASIC Client Correspondence Client Information Requests Client Invoices Client Meetings MyGov TFN Application Workflow Meeting
6
Q
Key Services - Service Suite
A
Business Advisory Corporate Secretarial Estate Planning Private Group Services SMSF Taxation
7
Q
Workflow Acronyms
A
AI Awaiting Information C Client Queries DR Division Reallocation IP In Progress NS Not Started P Priority B Bill DR Deadline ECR Engagement Control Register IR In Review O Overdue WS WIP Status
8
Q
CBP
A
Xero Blue Xero XPM Hubdoc Practice Ignition Now Infinity SuiteFiles
9
Q
WGC Philosophy
A
Attention to Detail Near Enough is not good enough WGCSMT require involvement in decision making WGCSMT devoid involvement 'data processing' Effective Change Management Seek Feedback at every opportunity Ensure ongoing training Amend procedures in conjunction with change Transparency Previous Experience Humility Continual Improvement Big firm approach No nasty surprises Work to skillset
10
Q
Business Advisory
A
Financial Reporting Budgeting & Cashflow Succession Planning Business Health Check Family Business Advisory Boards
11
Q
Corporate Secretarial
A
Annual Company Statements Company Registers Minutes Resolutions Unit Registers Registration ABN/TFN/GST
12
Q
Estate Planning
A
Estate Planning Strategy Aged Care Directive Estate Administration Wills Testamentary Trust Deceased Estates
13
Q
Private Group Services
A
Administrative Services Accounts Reconciliation Real Time Reporting Accounts Payable & Receivable Employee & Payroll Management
14
Q
SMSF
A
Administration & Taxation Establishment Superannuation Strategic Advice income Stream Management Contributions Fund Rollover
15
Q
Taxation
A
Tax Planning Taxation Structuring GST & Indirect Taxes Direct Taxes FBT ATO Dispute Resolution
