Round-up of accounting news

Netprophet.co.nz is a website providing news and information directly to the accounting profession in New Zealand. Each week ShareChat will provide a summary of the key stories on the site.

One of the biggest business stories of the week was the Reserve Bank's official cash rate announcement and its Monetary Policy Statement. 

Accountants were also interested to hear that Reserve Bank governor Alan Bollard gave the Tax Working Group a nudge over its work on taxing investment property.

Full story here: Bollard gives Tax Working Group a nudge.

Also during the week Netprophet reported on how accountants were fairing during the economic downturn. While business confidence was on the up it seems some clients are a little tardy in paying their bills.

Full story here: Sentiment picking up.

Another story which is generating comment is about the Inland Revenue Department's plans to change the process around Binding Rulings. The NZ Institute of Chartered Accountants says a change is good, but suggests here, that IRD needs to pull finger.

People and Events
Netprophet runs a listing of events and new appointments.

The two key events for accountants are the institute's annual tax conference and also the Conferenz One Stop Update for the Accountant in Business. Details in the Diary

The latest appointments include:

• PwC elects new chairman
• Insolvency practitioner joins Grant Thornton's Christchurch office
  
• Blackmore Virtue and Owens loses partner

Opinion
This week Netprophet has a new opinion piece; Accounting and the English language from Openside chief executive Stephen Nicholas.

You can read the full piece and comment on this and other stories on the site.

Practice Management
Why you must sacrifice income to earn even more
Debbie Mayo-Smith provides a top practice management article telling accountants why they must sacrifice income to earn even more. While this sounds a little odd, the piece has been popular with readers and is well worth a read.  Read more.

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