ExpertiseIndustriesAged Care

Aged Care

Whether they provide residential services or care in the home, operators within the aged care industry provide an invaluable service to Australia’s ageing population and their families.

 

In recent years, however, there has been an increase in the level of challenges faced by this sector. Increased regulatory requirements particularly in respect to the funding received from government bodies and prudential requirements in respect to the holding of accommodation bonds place a heavy administrative burden on aged-care providers.

 

Additionally, while an ageing population has resulted in an increased demand for aged care services; new technologies, emerging market entrants and consolidation within the industry have led to a highly competitive market.

 

Finding the subtle balance between providing a high quality service and securing a strong financial return for stakeholders can be challenging. 

 

 

 Working with the right partner who understands the unique industry issues and who has the resources, experience and knowledge to help you through the financial and business implications is critical.

 

William Buck is dedicated to providing advice to the aged care industry. Our specialists have experience across a wide range of aged care providers, on an organisation or facility specific level, in both the private and public sector. This has provided our team with a deep knowledge of the issues affecting the aged care industry.

 

William Buck believes in promoting uniformity in reporting across the industry and we are actively involved in facilitating discussion and resolution on these issues.
 

 

William Buck, in conjunction with the Victorian Association of Health and Extended Care, facilitated a discussion group to obtain a consensus view on AIFRS issues facing the aged care industry including bed licenses and accommodation bonds. The members of this group include representatives from Aged Care facilities, the AASB and the accounting profession.
 

We provide aged care operators with practical guidance and advice on meeting their reporting requirements and ensuring that correct disclosures are made. Our commercially minded team also assists in developing tailored strategic plans on both an operational and transactional level.

 

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Services

In addition to our broader range of capabilities we provide industry specific tailored services in the following key areas:

 

— Financial modelling

— Benchmarking

— Management accounting 

— Operating budgets

— Securing funding

— Due diligence services

— Salary packaging advice

— Technical accounting advice

— Advice on mergers & acquisitions

— Indirect tax advice

— Audit & Assurance

— Corporate Governance


We can also assist you with your full range of accounting and tax compliance needs.

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