01-05-2007
Vocation
01-05-2007
Terry Martin (right) thanks John Reilly for his presentation
John didn't start out to be an accountant. He didn't even like commerce, preferring maths, physics, and computers. John did a Bachelor of Commerce part-time over 6½ years, and worked for accounting firms while studying. After graduating, he worked for various firms, and 2½ years ago started his own practice.
John shares an office with his wife, who is a mortgage advisor. He is a registered tax agent and a CPA, preferring strategic planning, budgets, and business advice to auditing.
John's talk brought forth comments from several of the Club's members:
- (Keith Roffey) To do business you need to know the cost of doing business and what the margins are.
- (Barry Thompson) The Commonwealth law on auditing has changed, leading to an increase in auditing costs of about 50%. Using international standards for auditing, auditors accept liability for undetected fraud. Many accountancy firms are opting out of auditing for this reason.
- (Allan Sweet) It has been determined that we can pass on the cost of various items direct to the end person or organization in order to reduce the amount passing through the Club's books. Amounts such as that paid to the caterers for meals are not really expenses of the Club, they are instead amounts that the members owe the caterers. Similarly, for things such as RYDA, the money can be passed straight on to RYDA rather than passing through our books. This method of handling things will reduce the amount passing through our books, and hence affect the way that GST affects the Club.
Last changed: 03:19:18 04-10-2008