Over the years, Nobel Thomas has developed a specialised suite of services designed for the hospitality industry. With our extensive experience and expertise in hospitality, we can assure our clients we deliver more than just accounting services. We function as a business partner committed to working closely with our clients, an easily accessible accounting department that is available when you need us, at any time of the year and not just during tax season.
Nobel Thomas provides the following services to clients in the hospitality industry:
- Audit and Assurance. An independent and commercially sound overview of performance
- Annual Reporting and Compliance. Timely and accurate year-end financial reports and income tax returns, as well as liaising with the Australian Taxation Office on any tax issues.
- Budgets & Forecasting. Analysis of past performance and industry trends to forecast future revenue and expense items for effective planning, as well as variances between budgeted and actual performance.
- Weekly and Monthly Financial Reporting. Regular reporting to managers and owners, to allow for timely decision making and planning.
- Staff and Payroll Support. Specialist assistance with payroll accounting software and advice on statutory regulations regarding employees.
- Financial Ratio and Variance Analysis. Analysis of major profit and loss items to quickly identify trends and isolate periods or departments with unusual results.
- Tax Planning. Ensuring tax effective structures and operations.
- Management Accounting Solutions. Regular liaison with internal accounting staff to ensure the consistency of financial records to optimise efficiency.
- Cash flow Analysis. Assessing the cash impact of financial transactions, empowering you to make timely and correct decisions regarding allocation of resources.
- Distress Management and Advice. Assessment of cash flow issues. This includes liaising with all stakeholders from shareholders to lenders and trade suppliers.
- Change of Ownership. We have found that two of the most complicated processes clients face are opening and closing a hospitality business. We have implemented systems to ensure that these transactions are as smooth as possible without jeopardising the integrity of accounting data.
- Financial Planning. Financial planning expertise to identify the products which will enable you to optimise your earnings and protect your assets.
- Due Diligence. Review of all available financial and managerial information for a hospitality business to determine its true maintainable earnings. We strive to achieve maximum value for money on any potential investment. Upon sale, we also ensure that sufficient value has been added in order to maximise proceeds.
- Strategic Partners. Nobel Thomas has established links with other professionals who also specialise in the hospitality industry. These include legal advisors, business brokers, property agents, valuers and business bankers.
Benchmarking is one of the most valuable services Nobel Thomas provides to our hospitality clients. By investing in research and developing relationships with industry experts, we have established a comprehensive set of key performance indicators. Using these measures we are able to identify potential opportunities based on your unique strengths, as well as quickly isolate areas of your business which are underperforming in the market.