Australian Share Market Opens Higher after Recent Losses

Posted by Shoebooks Team in Monday, April 16, 2012

After a four-session losing streak where the index fell to a closing level not seen since March 12, the Australian share market showed a growth quite recently, helped by signs of easing pressure on government finances in Spain and Italy and some benign local data.

A rise of 0.4 per cent to 4264.80 in the benchmark S&P/ASX 200 index, scaling down week-to-date losses to 1.3 per cent and bringing year-to-date gains to 5.1 per cent.

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China's Data Make Australian Dollar to Rise

Posted by Shoebooks Team in Wednesday, April 11, 2012

On Monday, the Australian Dollar rose to 104.07 US cents from the last Friday’s 103.95 cents. This was after the markets digested better than what was expected from the Chinese manufacturing data as well as from weak domestic building approval figures.

According to Andrew Salter, ANZ foreign exchange strategist, the strengthening of the Australian dollar is due to Asian market’s positive reaction to Chinese manufacturing data. As data reveal, China’s manufacturing has continuously expanded in March as opposed to what economist expected it to be.

"The Aussie dollar rose sharply early in the Asian session. But we've unwound some of those gains later this session,” Mr. Salter said.

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Former Future Fund Chairman says "Carbon Tax will be Bad for Australian Economy"

Posted by Shoebooks Team in Wednesday, April 4, 2012

After having served multi-billion dollar Future Fund for six years, David Murray ended his term as Chairman last Monday and has left very stinging words to say about the carbon tax.

According to Murray, the carbon tax is the “worst piece of economic reform” he has ever seen.

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Victorian Businesses Strengthening their Future

Posted by Shoebooks Team in Tuesday, April 3, 2012

Victorian Business Strengthening
New research reveals that businesses in Victoria are taking steps to strengthen their share of the marketplace by looking to do a series of mergers and acquisitions on the horizon.

Data showed that businesses that are most likely to look for takeover opportunities are those having a turnover between $20 million and $49 million such as Australian accounting software providers.

According to the Commonwealth Bank Future Business Index, data reveal that businesses are showing a dramatic turnaround from previous months, setting to take a far more positive approach to the economy in the coming months.

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Europe and China Drags Australian Share Market Lower

Posted by Shoebooks Team in Thursday, March 29, 2012

After negative offshore leads and some lower prices of commodity, the Australian share market closed flat.

Figures reveal that Benchmark S&P/ASX200 index went down by 3.3 points, or an equivalent of 0.08 percent. It is now at 4,270.4 points. On the other hand, the broader All Ordinaries index eased about 4.2 points, equivalent to 0.1 percent, or 4,360.7 points.

It has also be revealed that the futures contract for June share price index went down by 10 points. It is now at 4,285 points with contracts traded reaching a total of 26,655.

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Accounting Software could Prevent Billion Dollars worth of Errors

Posted by Shoebooks Team in Tuesday, March 27, 2012

Australian accounting software could now potentially be on the agenda in the territory, as recently, the Auditor-General revealed that billion-dollar worth of unaccounted errors were discovered after auditors in Australia submitted its financial records for last year.

The Auditor-General revealed in his report that the New South Wales public service department accountants had made billion dollars worth of errors.

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Small Businesses Embrace the Power of Cloud Computing

Posted by Shoebooks Team in Wednesday, March 21, 2012

More and more businesses are seeing the “light” and how useful and efficient cloud computing can be for their businesses. Cloud computing is a remote computing power that allows its users to access their business accounts through the internet. A third party poses as admin and provides the services of the cloud.

Data of the CDW’s Cloud Computing Tracking Poll revealed that about 84 percent of organizations are already using at least one of the many services of cloud computing. Furthermore, about 76 percent of those using cloud computing for bookkeeping and accounting services claim that they have reduced the cost of their applications which have been transferred to the cloud. As a result, they are saving about 24 percent every year.

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