01 . Services

We believe that any business operating within the complex world of the thoroughbred industries requires a sound accounting framework. This starts with their accounting package. At Isca, our preferred software provider is Ardex Premier and we generally use Ardex to customize a suitable platform for the client to operate from.

In order to develop a suitable accounting system, it is vital that we firstly understand the client’s business and the various issues unique to them. This involved process allows us to customise the software so that it is suitable to their circumstances.

Once the appropriate accounting platform is in place, we focus on developing and implementing consistent procedures for the staff to adopt. We find that one of the biggest issues preventing most businesses from obtaining useful information is a lack of consistency regarding the inputting of data. By developing, and documenting simple procedures and then training staff to implement them effectively ensures that the staff are generating accurate information and are aware of their responsibilities within the process.

02 . Expertise

A key focus of our engagement is to ensure that there are suitable internal controls in-place. In many instances clients are unknowingly ‘leaking’ profits due to staff not having the appropriate crosschecks in place to prevent them from occurring. The most common example of this is on-charging expenses to owners. We have had countless examples of businesses absorbing costs due to staff not managing this process correctly and as such is an area that we focus on addressing.

With this sound framework in-place, we are then able to focus on providing meaningful information to the business owners and/or management so that they understand key issues within their business, such as:

1. How many horses are needed in work to break even?

2. What does it cost to operate the business each week?

3. How much is being spent on horses owned by the business?

4. What is your payroll costs compared to industry average?

03. What we do

Finally, we develop customised and unique reports to suit the profile of each client. Often these are very basic in nature and address only the critical issues. They allow the user the ability to get a snap shot of their business’ performance.

Isca operates in a number of ways depending upon the circumstances of each client. This can vary from being under the direction of the client’s current accountant who may not be familiar with the industry or software package – or directly for the client. We can also operate on a short project based contract or on an on-going basis. As registered Tax Agents, we also have the capacity to complete the client’s compliance tasks if required.