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Financial Management

Financial Management:  A virtual CFO at your service! 

Take control of your Finances

Do you wonder where your profit is? Do you want to understand the financial impact of a business decision before you make it? Is managing cash flow always a stressful juggling act? Do you struggle to pay your wages? Do some employees earn more than you do? Does your business finance affect your personal life?

If you want to improve your business profitability and get in control of your finances then the Virtual CFO solution is for you!

Winner Partnership is a CPA firm and a specialist Business Accountant. We have significant financial management expertise for small/ medium businesses.

Small business especially can't afford the skills and expertise of a full time Chief  Financial Officer (CFO) but you need a part time/ virtual financial controller/Manager who will meet with you on a regular basis to make sure your business is on track to your goal!

The following model is the basis of sound financial management and this is what you need to build a solid sustainable business. We help you with:

  1. Accurate and Timely Financial Information - A firm foundation
  2. Measure - Track your key performance indicators and learn from it.
  3. Manage - Use what you learn to better manage your current situation.
  4. Forecast - Understand the financial impact of a decision before you make it.

Accurate & Timely Financial Information

Do you know what is really going on in your business? By the time you find out is it too late to do anything? You need accurate and timely financial information on which to base your decisions. We have invested in an innovative technology system that can download your bank statements directly from your bank into our accounting system. You will get accurate monthly updated cash flow statements, profit and loss and balance sheets to see exactly how you are tracking to your goal. We can also update your MYOB/ Quicken accounting package and work in with your Book Keeper.

Measure

What financial indicators do you measure? How do you know how well/ badly your business is doing? Unfortunately, profitability is the only measure some businesses have. Regrettably it is a lagging indicator and you don't find out your true position until the end of the financial year - often when it is too late to do anything about it. You need to measure more leading indicators (eg. gross margin) that look at your business process rather than just the end financial result. We will help you set:

  • Financial Objectives - Are you just drifting with the economy? Do you have the right vehicle to get you to where you want to go? Where are you going to be financially in the next 3-5 years? You need to get your finances in order. We will asses your assets and liabilities and set goals for the short to medium term. We will work out the best structure for your personal and business financial situation. Your finances will be in good working order.
  • Business Scorecard - What do you measure in your business? Do you know the Key Leverage Points in your business that gives you your final financial results? We will select a range of leading and lagging financial indicators so you can keep your finger on the pulse.
  • Business Budget - Do you know how much money you can spend? What happens when you get expenses you weren't expecting? Do you know how much sales you need to make? We will set an operational budget so you know exactly how much you can spend. If you get unexpected expenses you will know you will have to cut back somewhere else. You will also know exactly what your sales targets will be for your team.

Manage

Are you reactive or are you proactive when it comes to managing your business and your finances? We will meet regularly to make sure your cash flow and your business are managed proficiently.

  • Cash Flow Management - Are you always stressed juggling your money? Do you know when you will have a cash shortfall? Are you able to pay your bills on time? You need to better manage your cash flow. You will know exactly when money should be coming in and paying out so you can be prepared for any cash shortfalls. You will be able to create a decent buffer and put any excess money you have to good use.
  • KPI Monitoring & Management - How often do you monitor your business performance? Do you track your changes over time? Are you making sure you are improving and not getting worse? We will use the Business Scorecard we created earlier to monitor and manage your business performance adjusting things as necessary.

Forecast

Do you understand the financial impact of a business decision before you make it? Can you afford to hire a new person, move into new premises or purchase a piece of equipment? Do you know what different things you could do to reach your financial goals? You need foresight to see what is going to happen in your business. We have invested in special financial management software that allows you to have insight on the impact of different scenarios (What If Analysis) and the quickest and easiest way to reach your financial goals (Goal Seek). You will be doing business the smart way!

Request a Meeting

If you want to get in control of your finances today contact us for a meeting.

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