Tech Rentals
In Apr 1981, I was able to land on my next permanent job, the position of Chief Accountant & Company Secretary of Tech-Rentals Pty Ltd, a high-tech company in the rentals and sales of computers and scientific measuring instruments such as data loggers, oscilloscopes, calibrators and analysers, etc.
It was a medium-sized company headquartered in Melbourne with branches in Sydney, Brisbane, Perth, Adelaide, and Tasmania, as well as foreign offices in New Zealand, Hong Kong and Singapore. It was a publicly listed company on the Second Board of the Melbourne Stock Exchange. I spent around four happy years with this company before I resigned to establish my own migration and accounting practice, Preston Migration & Investment Consultants.
In Apr 1981, I was able to land on my next permanent job, the position of Chief Accountant & Company Secretary of Tech-Rentals Pty Ltd, a high-tech company in the rentals and sales of computers and scientific measuring instruments such as data loggers, oscilloscopes, calibrators and analysers, etc.
It was a medium-sized company headquartered in Melbourne with branches in Sydney, Brisbane, Perth, Adelaide, and Tasmania, as well as foreign offices in New Zealand, Hong Kong and Singapore. It was a publicly listed company on the Second Board of the Melbourne Stock Exchange. I spent around four happy years with this company before I resigned to establish my own migration and accounting practice, Preston Migration & Investment Consultants.
My duties in Tech-Rentals included:
As Company Secretary, responsible for all company secretarial duties, such as convening meetings, preparing minutes of meetings and compliance measures required of the Australian Securities & Investment Commission.
All administrative, accounting and taxation matters relating to the company, including monthly profit & loss statement and balance sheet.
Assisted by a Credit Controller, responsible for credit control and accounts receivable for the organisation.
Assisted by an Assistant Accountant, responsible for matters relating to accounts payable for the organisation, including payment of salaries.
Assisted by the Assistant Accountant, responsible for the preparation of letters of credit for purchases of equipment, and the preparation of statutory taxation returns, including Payroll Tax.
My duties in Tech-Rentals included:
As Company Secretary, responsible for all company secretarial duties, such as convening meetings, preparing minutes of meetings and compliance measures required of the Australian Securities & Investment Commission.
All administrative, accounting and taxation matters relating to the company, including monthly profit & loss statement and balance sheet.
Assisted by a Credit Controller, responsible for credit control and accounts receivable for the organisation.
Assisted by an Assistant Accountant, responsible for matters relating to accounts payable for the organisation, including payment of salaries.
Assisted by the Assistant Accountant, responsible for the preparation of letters of credit for purchases of equipment, and the preparation of statutory taxation returns, including Payroll Tax.
Preparation of yearly financial reports and attendance to external auditors for annual audits.
Preparation and submission of applications for funding from financial and banking institutions.
Migration of the manual accounting system to an in-house developed accounting package on Accounts Payable & Accounts Receivable.
Preparation of yearly financial reports and attendance to external auditors for annual audits.
Preparation and submission of applications for funding from financial and banking institutions.
Migration of the manual accounting system to an in-house developed accounting package on Accounts Payable & Accounts Receivable.
Honestly, despite the grand title, I consider that I was only performing the duties of an accountant and office manager of a medium-sized company. However, it did expose me to all common functions and likely problems confronted by most organisations in Australia, including challenges arising from company secretarial, personnel management, business funding, accounting, and taxation issues.
Needless to say, I enjoyed my work with Tech-Rentals, which was a cosmopolitan organisation comprising a diverse range of ethnic groups, including the UK, New Zealand, Czechoslovakia, the Philippines, Indonesia, China (Preston), and many Australians.
The notion of my resignation was triggered by a rather annoying episode, consequent to the distribution of our yearly bonus. As a profitable company, apart from our salary package, which typically includes fringe benefits such as an expense account, a company car, and staff shares in the listed company, we are also given a yearly bonus based on individual performance and the profitability of the operation. Being the Chief Accountant, I was one of the few people in the organisation privy to the amount of bonus allotted to all the staff. In a particular year, I was feeling upset by the amount given to me vis-a-vis some of my colleagues. I did not raise any complaint as the grant was discretionary, but my decision to leave the company was made. I must add that when I eventually resigned, I left in an amicable fashion.
Honestly, despite the grand title, I consider that I was only performing the duties of an accountant and office manager of a medium-sized company. However, it did expose me to all common functions and likely problems confronted by most organisations in Australia, including challenges arising from company secretarial, personnel management, business funding, accounting, and taxation issues.
Needless to say, I enjoyed my work with Tech-Rentals, which was a cosmopolitan organisation comprising a diverse range of ethnic groups, including the UK, New Zealand, Czechoslovakia, the Philippines, Indonesia, China (Preston), and many Australians.
The notion of my resignation was triggered by a rather annoying episode, consequent to the distribution of our yearly bonus. As a profitable company, apart from our salary package, which typically includes fringe benefits such as an expense account, a company car, and staff shares in the listed company, we are also given a yearly bonus based on individual performance and the profitability of the operation. Being the Chief Accountant, I was one of the few people in the organisation privy to the amount of bonus allotted to all the staff. In a particular year, I was feeling upset by the amount given to me vis-a-vis some of my colleagues. I did not raise any complaint as the grant was discretionary, but my decision to leave the company was made. I must add that when I eventually resigned, I left in an amicable fashion.