Regular Profit & Loss for Management

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Successful small business operators allocate the time each month to fully review their financial data so that they clearly understand the financial health of their business and are able to take remedial action – if any is necessary.

As I was home sick today, it gave me a chance to throw a screencast together… (you’ll have to excuse my editing).  Often small business owners want to stick their head in the sand and ignore financial reporting altogether or consider it the accountant’s problem to deal with at the end of the year. Unfortunately, by not regularly monitoring your KPIs and finacial situation, you are losing out on valuable insights and opportunities – not to mention, missing any big red flags being waved in your direction!

I have focused this particular clip just on the Profit & Loss Statement, however some of the material comes from our “Management of the Business of Business” seminar series. This is a comprehensive series of 5 x 3-hour advanced management seminars we will be conducting with small groups later in the year.

The schedule includes:

• INTERPRETATION OF FINANCIAL ACCOUNTS

• USING KEY PERFORMANCE INDICATORS TO CREATE VALUE FOR SMEs

• PERFORMANCE MEASURES FOR KEY PERFORMANCE INDICATORS FOR SMEs

• CHECK LIST FOR KPIs THAT MIGHT BE SUITABLE FOR A SME

• INTERVIEWING APPLICANTS

• WHAT TYPE OF EMPLOYEE DO YOU WANT?

• KEY MATTERS TO BE INCLUDED IN A CONTRACT OF EMPLOYMENT

• CONTRACT OF EMPLOYMENT

• EMPLOYMENT GUIDELINES TO OFFICE STAFF

• EXCELLENT STAFF MANAGEMENT, MOTIVATION AND COMMUNICATION

• CUSTOMER KNOWLEDGE AND SERVICE

• CUSTOMER DATABASE

• ADVERTISING – AN OVERVIEW

• INSURANCE – AN OVERVIEW

• WHAT IS A NETWORK?

• INTRODUCTION TO NETWORKING

• BUDGET AND CASHFLOW FORECASTS

• CREATING EFFECTIVE MEDIA RELATIONS

• MARKETING FOR SMALL BUSINESS

• CORPORATE GOVERNANCE ISSUES AFFECTING SMEs

• FAMILY BUSINESSES – WHAT ARE THEY?

• FAMILY BUSINESSES – MAKING THEM WORK

• RELATIONSHIP WITH BANKS AND FINANCIERS

• STRATEGIES FOR MAKING PROFITS

• EXPORTING OVERVIEW

• PERSONAL LEADERSHIP CAPACITY AND DEVELOPMENT

• BUSINESS PLAN OVERVIEW

• PLANNING TO SUCCEED

• BUSINESS PLANS – KEY POINTS TO BE INCLUDED

• EXPERT PRESENTATIONS
? Insurance
? Adverting
? Media
? Banks
? Development Association
? Governments

• FORUM – MANAGEMENT OF THE BUSINESS OF BUSINESS

These workshops are completely FREE and with no obligation. If you are a client of Alan Lewis Accountants or a business on the Central Coast and would like to be kept informed of when these workshops will be taking place, please email me at christie@lewistaxation.com.au and put “SEMINAR” in the subject line. I’ll be sure to keep you in the loop.

Alternatively, I’m happy to toss some more screencasts together for anyone unable to make it to a live event (if you can put up with my crappy editing and incessant “umms”)…  just use the comment section below to let me know what you want to hear more about!

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