Australian Accounting Trends in 2015 Financial Year

A new year has begun, and another financial year has come to an end. The last year has shown great deal of increase in the realm of international operations and operations involving the digital landscape. The concept of outsourcing has been increasing exponentially, where various administrative tasks, especially in the categories of compliance and book-keeping have been sent to off-shore entities. This practice has become prevalent due to the benefits associated with it, especially when it comes to financial efficiency.  Finance and Accounting outsourcing entities such as the likes of InfoMate have therefore had a fairly promising year.

What is known as the digital economy also experienced a rapid boom and is scheduled to occupy 7.3% of Australia’s GDP. Industries in relation to international business communication are considered the most prominent components of the digital economy. The use of cloud technology has increased greatly due to the businesses recognizing the advantages the technology has to offer especially when it comes to real-time access to any resource and data. The technology has also become increasingly competitive which has resulted in falling prices and more widespread use.