What is bookkeeping

Bookkeeping Bookkeeping is the task of recording all business transactions—amounts, dates, and sources of all business revenue, gain, expense, and loss transactions. Bookkeeping is the starting point of the accounting process. Having accurate financial records helps managers and business owners answer important questions. Is the business making money, or losing it? How much? Is the business on sound financial ground, or are troubling trends in...

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Supermarkets' brave new world

Derided as a haven for duopolies, Australia is in fact the scene of a price war in the crucial $88 billion food and grocery industry. "There is now a more competitive environment for supermarkets than I've seen since my years in the regulatory environment,"  says Graeme Samuel, who chaired the Australian Competition and Consumer Commission for eight years to 2011. The nation's No. 1 retailer Woolworths has been cutting prices...

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Australian Dollar Dips In Anticipation Of RBA Rate Call

The Australian dollar was trading in a holding pattern on Monday afternoon ahead of Tuesday’s interest rate decision by the Reserve Bank of Australia, with odds jumping in favour of a cut. Better-than-expected Chinese manufacturing PMI data pushed the Australian dollar up to US78.3¢ at the start of trade, but that soon dropped. The dollar was trading around US77.65¢ in late afternoon trade. “It’s down a bit today, it’s down about half a cent,”...

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