John Kukulovski, partner with insolvency solutions and restructuring firm RRI Advisory, said EOFY is a challenging time even for businesses that are doing well.
Its crucial that directors use this time to take stock of their companys financial health and identify any opportunities and issues for the coming year, Kukulovski said. As insolvency professionals, we all too often see directors trying to take on new challenges without knowing how their company is holding up. You cant chart a new course without a map.
EOFY preparation basically means company accountants tidying amounts and balances in the charge of accounts for statutory reporting and tax accounting purposes, according to Ben Verney, founding partner at boutique insolvency and …
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