AAMC Training Inc

The Institute of Public Accountants (IPA) recently hosted a special event to honour long-standing members of the profession. During the WA Fellows lunch, IPA's WA State Manager, Cameron Gauder, recognised Jeff Mazzini from MD AAMC Training Group for his remarkable 30 years of achievements and dedication.

All other longstanding members were also acknowledged for their commitment to the profession. The IPA, known for its professionalism and support, is actively expanding its presence internationally and seeking to connect with offshore accounting associations and members.

Print your way to on-demand medication
https://nationalseniors.com.au/news/latest-news/print-your-way-to-on-demand-medication

Print your way to on-demand medication If you’ve run out of meds and the pharmacy is closed, soon you may be able to just reach for a printer.

Telstra launches Starlink plan for small businesses at residential prices (and speeds) via https://www.smartcompany.com.au/industries/telecommunications/telstra-starlink-plan-small-businesses-residential-prices-speeds/

Telstra launches Starlink small business plan at residential prices Telstra has announced a new Starlink plan for small businesses that will cost the same as residential plans.

The U.S. and China were the top export markets for an equal number of G20 countries in 2022. But which countries were they? https://www.visualcapitalist.com/mapped-every-g20-economys-top-export-market/ via

Mapped: Every G20 Economy’s Top Export Market The U.S. and China were the top export markets for an equal number of G20 countries in 2022. But which countries were they?

The Tax Practitioners Board assuages fears over disclosure obligations under tax code changes https://www.publicaccountant.com.au/features/tax-practitioners-board-tax-code-changes

The Tax Practitioners Board assuages fears over disclosure obligations under tax code changes The Tax Practitioners Board assured in a webinar that tax code changes that increased scrutiny of ethical conduct, conflict of interest, and confidentiality obligations would not force accountants to disclose personal information.

Stockland (ASX: SGP) says housing market recovery hinges on interest rate outlook https://www.theaustralian.com.au/business/property/stockland-says-housing-market-recovery-hinges-on-interest-rate-outlook/news-story/cd3fc06be3278ac3b8ff08c667147245 via

Housing market recovery hinges on rates: Stockland Australia’s largest listed residential developer Stockland has warned that improvements in housing sales volumes will depend on the direction of interest rates and how fast the laggard Victorian market can come back.

‘Will this degree lead to a job?’ is the wrong question as no education achievement can guarantee you a job, given job roles are constantly changing and your minds do also. Here’s what you should ask instead https://theconversation.com/will-this-degree-lead-to-a-job-is-the-wrong-question-heres-what-you-should-ask-instead-236393?utm_source=twitter&utm_medium=bylinetwitterbutton via

‘Will this degree lead to a job?’ is the wrong question. Here’s what you should ask instead University courses are about a lot more than immediate employment prospects, or ‘degree equals job’.

We summarise the latest GDP growth projections from the IMF, covering select economies from the developed and developing world. https://www.visualcapitalist.com/visualized-gdp-growth-projections-for-key-economies-2024-2025/ via

GDP Growth Projections for Key Economies (2024-2025) We summarize the latest GDP growth projections from the IMF, covering select economies from the developed and developing world.

Parents have been waiting for more than 30 years for an Australian visa. The new home affairs minister needs to act https://theconversation.com/parents-are-waiting-more-than-30-years-for-an-australian-visa-the-new-home-affairs-minister-needs-to-act-236312?utm_source=twitter&utm_medium=bylinetwitterbutton via

Parents are waiting more than 30 years for an Australian visa. The new home affairs minister needs to act Burke has only been in the role for a couple of weeks, but a backlog of more than 150,000 parent visa applications presents some tough choices.

Australia could introduce a cap on international students and protect uni funding. Our formula shows how https://theconversation.com/australia-could-introduce-a-cap-on-international-students-and-protect-uni-funding-our-formula-shows-how-236137?utm_source=twitter&utm_medium=bylinetwitterbutton via

Australia could introduce a cap on international students and protect uni funding. Our formula shows how We have a formula that would direct international students to institutions that also enrol large proportions of domestic students.

But critics warn the Coalition’s proposal could inflate house prices and cost taxpayers up to $1 trillion in increased pension payments.
https://www.accountingtimes.com.au/economy/super-for-housing-plan-could-save-government-1-8bn-analysis-finds/economy/senate-agrees-to-amendments-to-payment-times-bill,https://www.accountingtimes.com.au/economy/super-for-housing-plan-could-save-government-1-8bn-analysis-finds/economy/senate-agrees-to-amendments-to-payment-times-bill

Sorry, that page could not be found | Accounting Times News and intelligence for Australian Accountants, focusing specifically on issues and industry developments of significance to the accounting profession

What Impact will Artificial Intelligence have on financial advisory Services
Artificial Intelligence significantly impacts financial advisory services by enhancing investment strategies, improving risk management and fraud detection, and boosting customer service through AI-powered chatbots and virtual assistants. This transformation is driven by the need for more efficient, personalised, and scalable advisory services, especially as the industry faces rising costs and regulatory requirements.
Regulators and Governments need to understand the ramifications of this outcome if they are serious about ensuring many are gainfully employed. It's time to swim out, to meet the AI ship, and not wait for it to arrive." By this, I mean getting industry-knowledgeable, experienced, and radical-thinking people into one location and working through how to ensure AI and humans work hand in hand, not sitting back and allowing people to take the low-cost, 24-hour, available solutions into the future. It is time to have radical decision-makers in place and implement workable solutions to make the necessary and overdue changes.

Financial advisers are dropping clients and hiking fees as the industry resets. This results from the many advisers exiting due to the requirements of having university qualifications and many introduced regulations. Lack of access to Industry super funds is also a significant issue. There is a need for more advisers, and hence, talk of a diploma-level course needs to be reintroduced. If something is not done soon, more people will turn to Artificial Intelligence for low-cost, unregulated advice.
https://www.theaustralian.com.au/business/wealth/financial-advisers-are-dropping-clients-and-hiking-fees-as-the-industry-resets/news-story/ea2064ed8526939a04c1c015fb36c38b via

Financial advisers fire clients and fire up fees Financial advisers are severely culling their client lists and charging 17 per cent more in fees to those who survive the shake-out in a brutal resetting of the advice industry.

Jeff Mazzini

Robot colleagues hired to take on your mundane tasks.

AI workers are beginning to infiltrate Australian workplaces, being effectively hired on subscription-like plans to take on some of the mundane tasks no one wants to do.

https://www.theaustralian.com.au/business/technology/safetyculture-employs-ai-workers-as-new-trend-takes-hold/news-story/2e4b999a92ce490fdc7c16f0f9c62a3b.

Even fast food restaurants have seen their prices surge this past decade; which ones lead to price increases?

https://www.visualcapitalist.com/charted-inflation-across-u-s-fast-food-chains-2014-2024/ via

Charted: Inflation Across U.S. Fast Food Chains (2014-2024) Even fast food restaurants have seen their prices surge this past decade. Which ones lead in terms of fast food inflation?

Where are the top 100 universities in the world located? We look at the World University Rankings 2024 to find out. https://www.visualcapitalist.com/charted-the-worlds-top-100-universities-by-country/ via

Charted: The World’s Top 100 Universities, by Country Where are the top 100 universities in the world located? We look at the World University Rankings 2024 to find out.

We have been delivering education for the AML courses online under the requirements for “tranche one” entities – financial institutions. Within those professions, numerous organisations of varying sizes have adapted quickly to the AML requirements. We have the Main AML online, which covers all required areas, and then there is an annual, more minor update AML course online, which introduces all the changes during the financial year. Naturally, the main AML course will be adapted as soon as rules or regulations change. I hear stories about how it will be tough for businesses to remain controlled and monitored; each team member/contractor can produce evidence via online reports and or certificates that are made. Our profession in the finance/advising industry is confronted daily with potential AML issues; however, once it's been in operation, things settle down. We are also writing courses and delivering AML courses for offshore locations. Once you have the regulation requirements, we can assist you and your teams with the course production and delivery. Ensuring the regulation requirements are not already covered elsewhere is also vital to provide a sustainable, simplistic model to meet the AML requirements you must comply with.

https://www.accountingtimes.com.au/profession/accountants-enlisted-in-war-against-dirty-money/

Accountants enlisted in war against dirty money CPA Australia and CA ANZ say proposed anti-money laundering reforms must be balanced and proportionate to avoid burdening smaller firms.

Australian Small businesses can still get real value for $2. Just ask Tim Beresford, chief executive of the Australian Financial Security Authority (AFSA),
who says a quick $2 search of the Personal Property Securities Register (PPSR) could protect entrepreneurs from unexpected financial setbacks.

https://www.smartcompany.com.au/finance/personal-property-securities-register-search-small-business-tim-beresford/

How a $2 search could protect your SME from risky purchases The Personal Property Securities Register lets businesses register a security interest in assets, giving a clear picture of who owns what.

‘Good first step’: CALI backs passage of DBFO bill. Australia’s life insurers have welcomed the first tranche of advice reforms passing through Parliament – but have their eye on the proposed new class of advisers.

NEWS https://www.ifa.com.au/news/34492-good-first-step-cali-backs-passage-of-dbfo-bill

‘Good first step’: CALI backs passage of DBFO bill Australia’s life insurers have welcomed the first tranche of advice reforms passing through Parliament – but have their eye on the proposed new class of advisers.

[10:55 am] Jeff Mazzini
Power of introducing technology that would be the equivalent of hiring 8,000 new NHS doctors.
IN DECEMBER LAST year, the UK’s shadow health secretary, Wes Streeting, visited Singapore General Hospital, regarded as one of the best in the world. What he witnessed there surprised him: “Patients arrive having already registered their appointments via an app. They check in on touchscreen kiosks awaiting them at reception. Tablets at their bedside allow them to read about their treatment or call for assistance,” Streeting says. “This is Space Age stuff compared with where the NHS is today.” Streeting characterises the National Health Service as an “analog system in a digital age.”
“When I visit a hospital, doctors often take out their pagers to show me what they are forced to work with,” Streeting says. According to estimates, inadequate IT wastes 13.5 million hours of GPs’ time every year. Fixing that would be the equivalent of hiring 8,000 new NHS doctors. “For the past 14 years, modernisation of the NHS has been put on the back burner by a Conservative government which opts for sticking plasters instead of the major surgery that’s required,” says Streeting, who added that he fears that five more years of Tory mismanagement could mean the NHS ends up like the failed British retailer Woolworths—“a much-loved national institution which failed to change with the times and was left behind.” source-WIRED Daily
Woolworths demise 15 years on: What happened at the retail giant, and could it come back?
Once a staple of the high street, Woolworths had more than 800 stores in the UK at its peak. But over a few disastrous weeks, all would close forever as the chain collapsed under the weight of...

University dropout rates have risen to the highest level in a decade, with one in three trainee teachers and one in four nurses failing to graduate. Why not undertake your education via Australian Registered RTO as it is cheaper and allows you to enter the workforce either whilst you are studying or upon completition.https://www.theaustralian.com.au/higher-education/a-quarter-of-students-drop-out-of-university-as-failure-rates-rise/news-story/e0666544925e3ea719b75dea443e09f1 via

See which housing markets are considered 'impossibly unaffordable' according to their median price-to-income ratio.

https://www.visualcapitalist.com/mapped-the-worlds-least-affordable-housing-markets-in-2024/ via

Mapped: The World's Least Affordable Housing Markets in 2024 See which housing markets are considered 'impossibly unaffordable' according to their median price-to-income ratio.

[5:18 pm] Jeff Mazzini
10,000 small businesses gain Bank Code of Practice protections

The banking Code of Conduct will define small business borrowers more liberally, granting more protections to traders.

https://www.smartcompany.com.au/finance/10000-small-businesses-gain-banking-code-of-practice-protections/?utm_campaign=SC

10,000 more small businesses to gain Banking Code of Practice protections The banking Code of Conduct will take a more liberal definition of small business borrower, granting more traders protections.

[4:13 pm] Jeff Mazzini
AI outperforms human students in university exam study-
AI outperforms human students in university exam study- Common sense has to prevail with AI, as students will need to learn how to use it effectively in their ongoing lives. Using AI to arrive at the required outcomes also takes skill in that the student needs to ensure the response is correct and covers all the areas being asked for. The current way of examination testing is to have students stressed over final examinations, which determine their future placements into universities or employment opportunities; this needs to change as it's such an old-school practice. All assessments throughout the year should be considered for the student's overall results; otherwise, we will continue the outdated ROTE Learning. If students were progressively tested throughout the year, they would ensure they had a better attendance record and undertook required learnings, producing more rounded and educated students without the unnecessary stress of fronting up to final examinations.

https://edutechtalks.com/ai-outperforms-human-students-in-university-exam-study/

AI outperforms human students in university exam study - EDUtech_talks A University of Reading study revealed that AI-generated exam responses, created using ChatGPT, outperformed real student submissions, averaging half a grade higher. AI essays were nearly undetectable, raising concerns about academic integrity. Researchers urged educators to address this challenge,....

What impact does vocational education have on communities?

Vocational education significantly impacts communities by breaking cycles of poverty, reducing unemployment rates, and cultivating local talent. It provides practical skills, job opportunities, and entrepreneurial avenues, empowering communities and fostering socioeconomic development.

Education needs to be adapted to each country's skills needs, and courses should also be adapted to meet current needs. Hence, online delivery is vital to ensure that courses are relevant.

#50322

This graphic shows how the cost of training AI models has skyrocketed, given the vast computing power required to run them.

https://www.visualcapitalist.com/training-costs-of-ai-models-over-time/ via

Visualizing the Training Costs of AI Models Over Time In this graphic, we show how the cost of training AI models has skyrocketed given the huge amount of computing power required to run them.

Alcohol and Mental Health problems are closely linked.

Can alcohol cause anxiety? Alcohol and mental health | HCF There’s a strong relationship between alcohol and mood. This article looks at what it actually does to your brain and how this affects your mental health.

Watch out; a wave of retrenchments is coming. However, it will also bring opportunities to a chosen few. Many larger employers will also have to reduce their overheads,
and AI will be at the top of the conversations for implementation and cost reduction. Are you preparing for what may happen next whilst you have the comfort of the
Corporate umbrella. Undertake your study now, and do not wait until something may happen.

https://www.theaustralian.com.au/business/watch-out-wave-of-retrenchments-coming/news-story/13b5526c952abb39bf3beb32e56908ac

Watch out, wave of retrenchments coming Sadly, but not surprisingly, a vast number of small enterprises are set to fail under the relentless pressure of higher costs that can’t be passed in. The latest wage rise is just another blow. But there is an even more serious problem for the nation.

How should the skilled migration points test be reformed? It’s an $84 billion question https://theconversation.com/how-should-the-skilled-migration-points-test-be-reformed-its-an-84-billion-question-231283?utm_source=twitter&utm_medium=bylinetwitterbutton via The Conversation Australia + NZ

How should the skilled migration points test be reformed? It’s an $84 billion question Simple changes to Australia’s skilled migration points test could boost visa-holders’ earnings, government budgets and Australia’s productivity.

The government's new regulations have cost many SMEs a lot, causing many to lose their jobs.
Money for votes is never a good thing, nor is lowering the number of employees in SMEs to one to capture employees in the extended long service leave payments, which many SME’swill not be able to afford.
The decision-makers should understand the ramifications of passing such laws or even if they care about the damages they have done.
morehttps://www.theaustralian.com.au/business/companies/small-and-medium-businesses-growth-halves-amid-wages-boom-employment-hero/news-story/a5c3fa6fd671ca0bf20a26b13fc72054