Frequently Asked Questions
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24. A member shall make and keep in place adequate provisions and arrangements for the continuation of the bookkeeping practice and the protection of clients in the event of death, illness or incapacity.
Explanation
A member in practice should have contingency plans in place. If they were incapacitated in some form then:Is there a document somewhere that explains to the relatives
So this implies that you have a relationship with a colleague who has agreed to step in to somehow ensure your clients are not left totally in the lurch. (It is probably a reciprocal arrangement)
What about while you are on holidays?
One third of business owners have never taken a holiday:Report By Michelle Hammond Monday, 16 April 2012 (Extract only)
In an attempt to keep costs down, almost one-third of small business owners haven’t taken a holiday since they started their business, according to a new MYOB report. The MYOB Business Monitor is based on a survey of 1,043 small to medium business owners and managers, including 120 start-ups (businesses less than two-years-old).
But perhaps the most surprising findings relate to holidays, with the research highlighting the hesitancy among respondents to take a break, regardless of how long they have been in business.
According to the survey, 29% of all respondents have not taken a holiday since beginning operations.
This was most common among baby boomers (45-59 years) and least common among Generation Y respondents, at 33% and 23% respectively.
However, there was little correlation between this finding and respondents’ length of time in business.
For example, those who have been established for 10 or more years were only 1% more likely to have made this sacrifice than those in business for less than two years.
Reed says it is “mind-boggling” to think that three in 10 of the business owners surveyed have sacrificed every potential holiday with friends and family.
According to Reed, respondents’ refusal to take a break could be an attempt to keep costs under control. “This need to reduce costs where possible was echoed in hiring trends,” Reed says. “We found that throughout their business life, one quarter have cut back on, or not used, contractors, part-time or casual staff. They list it as a sacrifice they have simply had to make.”
Reed believes SMEs’ determination to keep staffing hours and numbers tight has an enormous impact on their quality of life, urging business owners to rethink their refusal to go on holiday.
“The most concerning result from this MYOB Business Monitor is that so many self-made business people have not taken a break at all,” he says.
“This has big implications for their wellbeing".
ICB is about, AND for, all bookkeepers and BAS Agents
We are an association of Australian Bookkeepers looking to assist each other in doing our job better.
Our aim is to support and help bookkeepers of all levels be better and more professional!
(Employed, self employed, contract or do it yourself: ICB is here to help)
Our Resources section is provided to assist bookkeepers in all aspects of their work. You will find Bookkeeping Tools, Business Information, BAS Agent Information, Marketing and more. As we are always adding to and amending the ICB Resources section, you will always find something of interest and, do not hesitate in letting us know if there is anything you would like to see added.
The ICB will accredit your competenceWe work with bookkeepers by setting standards and professional codes of conduct, we assist bookkeepers be better by providing resources, systems, checklists, guidance notes, links to advanced knowledge, pathways to appropriate education.
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www.icb.org.au A resource for bookkeepers: links, information, systems, checklists, tools, help.
The ICB is NOT a Training Organisation. We are not competing with training providers. The ICB will accredit relevant training organisations who provide courses relevant to bookkeepers. We will direct bookkeepers to the trainers who provide the courses relevant to the education that you require.
ICB recognises and will directly accredit approved training courses, together with experience gained where appropriate. We are working with a number of training providers to ensure appropriate courses exist and are accessible.
AccountantsBookkeepers play a key role in getting information to accountants. ICB's aim is to improve that relationship, the communication and the effectiveness of the communication interchange. We provide guidance notes on interactions between accountants and bookkeepers.
BusinessesWe help businesses have a more effective accounting and business process. ICB bookkeepers are about doing what they do well and letting you know before they are out of their depth. Our aim is for businesses to do their books effectively and correctly, using bookkeeping expertise and working with the businesses other advisors.
Government, TPB, ATOThe ICB represents bookkeepers in government and specifically ATO forums to ensure bookkeepers have their view heard.
The ICB plays a key role in communication of reality to bookkeepers and providing feedback of the 'bookkeeper's reality' to government.
Not all bookkeepers need a big stick and high level formal education. The ICB is about helping ALL bookkeepers. We will accredit, work with, support, resource and represent the bookkeepers who seek registration as a BAS Agent and we will accredit, work with, support, resource and represent every other bookkeeper in doing their bookkeeping in the best, most efficient and most rewarding manner.
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