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201 THE IMPORTANCE OF BUDGETS, CASH FLOWS AND COMPUTER SYSTEMS
Too many businesses fail through poor cash flow management. This workshop explores the importance of budgets and sound cash flow management in a business and introduces you to some of the tools you need to develop sound financial processes. By the end of this workshop you will understand the various types of budgets used in business and how they can assist you to run your business.
Examples of topics
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Planning for the next 12 months
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Understanding the need for cashflows and budgets
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How to read cashflows and budgets
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How to prepare a simple cashflow and budget
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Computers and how they can help your business
202 HOW TO
STRUCTURE YOUR BUSINESS IN A TAX EFFICIENT WAY
Many small business owners/operators are unaware that there may be more appropriate ways to restructure their business in order to achieve greater tax efficiency. At the conclusion of this workshop you will have a much better understanding of the type of structure that best suits your particular business.
Examples of topics:
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Types of structures available to you/your business
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The advantages/disadvantages of these various structures
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Advice on
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Company tax
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Goods & Services Tax
(GST)
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Fringe Benefit Tax
(FBT)
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Possible future tax changes
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Tax penalties and interest
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How to get the most from your Accountant when preparing your tax return
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Question and answer time
203 COSTING AND PRICING TO IMPROVE PROFITABILITY
As a business owner you need to understand costs and what drives profitability in your business. This workshop will equip you with the skills to understand business costs, and enable you to effectively set product and service prices to achieve desired profit margins.
Examples of topics covered include:
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The Drivers of Profitability: Understanding that the goods/services you sell and the customers you sell them to are not equal (80/20 rule)
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Understanding fixed and variable costs
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Calculating charge-out rates
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Calculating breakeven point and costings
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How to improve your profitability
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Workshop includes work examples
204 UNDERSTANDING AND USING YOUR ACCOUNTS TO IMPROVE PROFITABILITY
Understanding financial information is a critical step in managing and growing your business. This workshop will assist you to improve your skills in interpreting financial information, and how to use financial information to better manage the performance of your business.
Examples of topics
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An introduction to basic accounting
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Understanding financial statements
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Interpreting your business results
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Developing key performance indicators to monitor the health of your business
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Ongoing analysis techniques, ie use of information from GST returns, cashbooks, payroll records etc
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Industry/Sector benchmarking data
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205 GETTING MAXIMUM VALUE FROM YOUR ACCOUNTANT
"How do I find a good Accountant" is a common question asked by many small business owners who consider they are not getting much from their Accountants beyond tax returns. Increasing numbers of small business people quite rightfully feel there should be more to the current relationship with their Accountants.
This workshop will provide you with an in-depth checklist of the range and quality of services you should expect from your Accountant to help you grow your business.
Examples of topics
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How can I tell if my Accountant is adding value to my business?
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Am I being offered more than just history?
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Is my Accountant taking a genuine interest in my business?
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Is my Accountant proactive or simply reactive to my business needs?
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Am I being kept abreast with relevant tax and GST information?
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Is my Accountant "up with the play" regarding computerised accounting?
206 EFFECTIVE CREDIT MANAGEMENT SKILLS
This practical workshop is designed to give you the tools to manage your debtors more effectively. By the end of this workshop you will have gained an insight into effective credit control techniques and practices that will help you to recover the money owed to you for goods or services you have provided.
Examples of topics
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How to avoid bad debts
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The benefits of having a sound credit policy
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How to use the telephone effectively
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When to use letters and how to design them for maximum effect
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Legal proceedings explained in simple terms
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When should you use a debt collector?
207 SETTING UP AND MAINTAINING A CASHBOOK
All businesses are required by law to keep books of account such as a cashbook. A "Cashbook" is a financial system which allows a business to record cash receipts and cash payments. This workshop will cover-off the basic workings of a cashbook, and how it can be used to help you manage your business finances.
Examples of topics:
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Keeping records - why and for whom?
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GST - registered or not - tracking tax
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Income - handling cash, banking and tracking income by category
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Payments - cheque, eftpos, online banking, credit card, cash; invoices and receipts; petty cash account; tracking expenditure by category
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What type of cashbook is right for you now and for the immediate future (2-3 Years) - manual; spreadsheet; accounting programme (MYOB, Cash Manager, Quickbooks etc)
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Exercise in using a manual cashbook
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Using your manual cashbook to determine your financial position
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How to prepare Budgets using your cashbook information
Financial Management Skills
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