Aussie Dollar Higher despite Trade Deficit

Posted by Shoebooks Team in Monday, March 12, 2012

From 106.16 cents as Thursday closed, the Australian dollar was already trading at 106.28 cents last Friday which evidently showed a rise for the currency.

However, in the official figures that were released today, Australian exports revealed a drop of 8 percent in February resulting to Australia being pushed for a deficit. This is the first time to happen ever in a year. This first trade deficit may weaken the growth of the economy according to economists.

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Ways SME Businesses can be Successful with Facebook

Posted by Shoebooks Team in Wednesday, March 7, 2012

It is undeniable that social media like Facebook and Twitter have very strong reach considering that about 1/3 of the population of the entire United States of America has a Facebook account. And if it is a very useful tool for connecting with friends and family, why not utilize it for business purposes?

Yes, businesses can also benefit from Facebook. Though accounting software for small business are still among the most important tools, Facebook can also be a way to increase sales and reach more probable customers. How to do this? Here are some ways.

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Expert Says SME Business in a Tighter Lending Conditions

Posted by Shoebooks Team in Monday, March 5, 2012

In order to prevent further financial crises, regulations have been designed that will specifically hit small businesses and enterprises. This means that lending to such businesses will prove to be more difficult. This is according to Professor Ian Harper who is a partner of the Deloitte Access Economics. He is also a member of the Wallis Inquiry in to the financial system done back in the ‘90’s.

"The biggest loser will be SMEs because large institutions can go direct to the bond market to raise fund," he said after Mike Smith, ANZ Chief, said that the rules that require banks to hold more capital will affect the global economy.

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What are the Ways to Cut Business Cost and Improves Cash Flow?

Posted by Shoebooks Team in Wednesday, February 29, 2012

With economic uncertainty still plaguing our nation’s economic climate, it has become a season for big cuts. Nowadays, with costs on the rise and the economy dragging, businesses should look at three things to cut costs: staffing, rent and capital equipment rather than on cutting staff numbers, though is the most obvious way.

Though cutting the head count is obvious and easy, it is also a morale buster. Though it can meet a short-term imperative cost, it often has long-term repercussions and the cost of rehiring when the economy has turned is expensive.

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Aussie Dollar Step Up on Positive German and US Data

Posted by Shoebooks Team in Monday, February 27, 2012

After some good news and positive economic data from Germany and US were released, the Australian dollar had risen back to above 107 cents. From yesterday’s trading of 106.47 cents, it is now at 107.17 US cents.

The local currency has been seen to be trading in a tight range after lifting overnight, according Tim Waterer, CMC Markets foreign exchange dealer.

"We didn't see any spectacular moves one way or the other. It was just building on those gains, courtesy of more positive data abroad. I think it's in a holding pattern, ahead of some more US and European data out tonight,” he said.

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Australian ShareMarket Improves After Slow Start

Posted by Shoebooks Team in Wednesday, February 22, 2012

The Australian market rose higher today following an agreement for Greece’s second bailout. The data include benchmark S&P/ASX200 going up by 35.1 points or .82 percent at 4,291.2 points. On the other hand, All Ordinaries Index, rose by 35.4 points, equivalent to 0.82 percent, at 4,368.2 points.

These data went up when the news reached the local market at 1400 AEDT that Eurozone finance ministers had sealed a 130 billion euro deal bailout for Greece. With this deal, Athens’ government debt to gross domestic product ratio will be reduced back to 120.5 percent by the year 2020.

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Australia's Accounting Companies on the Range for New Staff

Posted by Shoebooks Team in Monday, February 20, 2012

Good news for those wanting to start a career in accounting companies. It has been found out that about a third of Australia’s accounting and finance firms are contemplating on hiring new staff.

Robert Half, an accounting recruitment firm, conducted a study that revealed that out of the 300 chief financial officers and finance directors surveyed, 82 percent believe and are confident that their businesses will be better this year. To add to this, more than 75 percent are expecting a better Australian economy. In fact, new staff is looking to be hired in the early part of 2012 by about a third of the companies.

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