APL Accounting News October 2018
APL web event series
- 24 October – Buying and selling vet practices with Tony Thelander and Simon Palmer
- 7 November – Improving the number of dentals in your clinic
- 12 December – Improving number of cytology samples you perform
- 30 January – Improving the number of xrays in your clinic
- Feb – Improving the number of consultations in your clinic
- March – Improving the number of repeat consults in your clinic
- April – Improving the client experience
- May – Improving the number of vaccinations in your clinic
- June – Implementing meetings in your business
- July – Telemedicine catch up
A force to be reckoned with
As you may know recently APL and ValuVet merged their valuations businesses under the ValuVet banner. One of the wonderful things about merging two businesses is that you become the sum of both business’ strengths. You are each able to add value that the other may not have had before.
Merging our Valuations business with ValuVet has brought many quivers to our APLs valuation offering bow. One of which is the ability to provide separate valuations for the hard assets of a practice alone (the equipment, fit-out separate to the goodwill).
Why would I need a separate valuation for the assets of the business?
There are several reasons:
- Finance. The bank financing the purchase / sale of your business will want to know how much of the money being lent is for the hard assets of the business
- Tax. While you don’t need to apportion the price paid for a practice in the purchase and sale legal documents, you will need to apportion them for tax purposes. A buyer will want to depreciate the amount paid for equipment post sale.
- Reinvestment projections. It is common for business owners who have been in a facility for a while to lose sight of:
- What is in the drawers and cupboards.
- How old the equipment may be.
We are fortunate to be able to offer this additional service to our clients.
Is telemedicine going to disrupt the veterinary industry?
Like it or not, and whether you agree with it or not, telemedicine is receiving a huge amount of government and public support in human health. As a result of this is it becoming clear that governing bodies have no intention of stopping veterinary practitioners offering the same sort of service!
At our last workshop, we covered telemedicine extensively right down to how easy it is to implement and what software an everyday veterinary practice can use to set up telemedicine consults in under a day. A lot of people emailed us and said that although they could not attend the workshop, they would love to be updated on telemedicine, so we recorded about 2 hours of this part of the workshop and have made it available online. For APL clients its free of charge, and for non-APL clients a fee of $300 will give you access to the whole video to watch as often as you like.
So if you are seriously considering online consultations or are feeling concerned that telemedicine may affect your business, please call us on 07 34880131 and we will give you access to this very informative video of our workshop a few weeks ago.
APL annual workshop – everyone welcome
Our last APL annual workshop for the year will be held in Sydney. To make a booking for this please contact us by no later than 8 October on telephone number 07 34880131.
If you have never used APL Accountants services before, you are still welcome to attend for a fee – this fee is then completely refunded if you opt to use APL Accountants services after the workshop, so please feel free to give us a call.
The details are as follows:
Sydney – Friday 19 October 2018 at Sir Stamford, Circular Quay, 93 Macquarie Street, Sydney
It has been party central at APL HQ for the last week or so because a special little girl turned 2. All dogs dressed in their party clothes to celebrate their workmate’s birthday in style.
We have a feeling this was just a warm up for Halloween dress ups as all the APL staff plan on dressing up this year for the work day.
Can’t hardly wait!
Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the informations applicability to their particular circumstances. In particular, please note that the APL dogs who often prepare this newsletter do not have opposable thumbs so have to type with their noses.