SETTING TARGETS & KPIs
It is important for businesses to set targets and put in place indicators to ensure the company is on track. Without these indicators how can one know if the company is performing. Targets provide a structure to constantly assess the performance of your business. It's no different to preparing for a grand final where you set targets to ensure the team gets the flag at the end. If there are no indicators one cannot assess the team's performance throughout the season and see where change and improvement is required.
FINANCIAL TRAINING AND EDUCATION
It's all about sharing the knowledge. It's not only about producing accurate financial information but ensuring the users are understanding what the information is saying. At FSC we continually educate business owners and their staff to ensure they understand their role and how their actions impact the accounts, and the financial information as a result. Meeting with business owners and their management team to review the accounts and explain what the numbers are saying has a huge impact in determining required changes and actions to ensure business goals are achieved. By working closely with your finance and management team FSC will enhance their financial acumen bringing more financial expertise in-house.
THREE WAY FORECASTS PROJECTIONS
Have you ever wondered what your business would look like in the next 2-5 years from a profit and loss, balance sheet and cashflow perspective? Would you like to know what if I increased sales by 10%, take on new staff members or a new contract, how that would impact your business and more importantly cashflow? By preparing three way forecasts you can see the impact ofthose actions on your business and whether the actions are viable. A Three Way Forecast projection allows you as a business owner to play out "what if scenarios" to see the impact on the financials in making certain decisions and changes, enabling you to be pro-active and not reactive.
Do you want to know how much tax you need to pay and when? Would you like to know strategies to minimise taxation? At FSC we can review your tax position and provide ways to assist in minimising the tax you pay and project the amount of tax you will be required to pay and when.
Is your business taking advantage of the small business tax concessions available to them, how about R & D tax concessions? Is your business compliant and up to date with the ever changing tax legislation?
FSC can help keep you in the loop and ensure you take advantage of the tax breaks available to your business.
Meeting with business owners to hear their frustrations and needs and where they'd like their business to be in the next 1- 3 years.
Undertaking a review of your Chart of Accounts to ensure they are structured correctly i.e. is your profit and loss segmented by product/service, are costs being allocated to the correct accounts, is your gross profit being accurately reflected? This is important to enable analysis and modelling of the numbers. It's no different to building a house you need to have the structures and foundations laid correctly to ensure the final product.
Putting in place financial systems and procedures to give your internal finance team the guidance and direction to ensure accurate and up to date data is produced consistently, month to month and on time to ensure the management team can make fully informed decisions about the direction of the company. FSC can guarantee the adjusting journals you receive from your accountant at year end will be substantially few, if any.
GET YOUR BUSINESS FINANCIALLY ORGANISED
What does this mean?
WHAT DOES FSC DO?
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Ph: (08) 6113 1211