Residential Aged Care

What is Ascendia's experience in this business area?

Ascendia Accountants (Maroochydore) provides General Purpose Accounting services including preparation of statutory accounts for ASIC reporting for large Residential Aged Care Providers.

In addition Ascendia Accountants, Ascendia Lawyers and Ascendia Investment Advisers & Managers, provides:

  • Tax advisory
  • Tax estimate & planning services
  • Financial Accounting
  • Tax Preparation & Lodgement
  • Business Financial Management Reporting Services
  • Business Risk Management Services
  • Superannuation Accounting and Advice (incl. regards business real property)
  • Business Succession Planning Advice & Implementation
  • Establishment of additional investment and / or business ventures
  • Investment Portfolio Advice and Management Services
  • Retirement Planning Advice
  • Estates Planning Advice & Implementation Services

David Barlow, one of the principals of Ascendia Accountants (Maroochydore) has, prior to commencing in his own firm with Ascendia Group, many years experience as the senior accountant supporting Brian Dohrman, a founding owner of the Regis Group. The Regis Group is a large Australia wide Residential Aged Care provider.

In David's experience working for Brian, he has:

  • Acted as the accountant on many residential aged care operations,
  • Prepared their accounts and budgets
  • Provided principal professional accountancy support from the start of the Regis Group for many years including in the the development and building up of the group - over a 10-year period until 2007.

David enjoys and brings a wealth of experience and know-how to providing tax, public accounting and financial management & reporting services to proprietors and operators of Residential Aged Care Facilities in Australia.

Are there specific services that are required by Aged Care providers?

The answer to this question depends on the stage of the business and the proprieters. However a service that is always needed, notwithstanding the stage of life of the business or the proprieters, is our Chief Financial Officer Support service.

This is a service that assists you to ensure your business is operating with best practice financial management processes and outcomes.

This service enables you to make the best management and business decisions by ensuring you have access to timely and accurate periodic reporting of actual business performance (P&L, Balance Sheet, Cash Flow on a monthly basis by service area as required) compared to Budgets and KPI's.

We also believe that new sources of capital will be required by residential aged care operators to:

  • Maintain capital expenditure for ongoing operations (maintenance)
  • Replenish the balance sheet as accommodation bonds are paid out net (as predicted by KPMG report analysing the effects of the Government changes), and
  • Obtain new capital levels to enable expansion of existing operations and investment in new operations - to be able to sustain delivery competitively priced services over the longer term.

Best practice financial management and financial reporting go hand in hand with obtaining these new and needed sources of capital.