Why we developed this service.
The better you understand your business, the easier it will be to make more money. Management decisions rely on a sound understanding of the financial implications for a business. We have developed this service to enable business owners to fully understand and interpret their numbers, so they have a strong foundation on which to grow their business.
Who should attend?
If you are passionate about your business and want to better understand your numbers and be able to answer questions like:
- How much profit have I made this year?
- Why has my profit increased but I have no cash?
- Is my cash level increasing or decreasing?
- What is affecting my cash level?
What is involved?
You will attend meetings with us every two months to discuss your financial results. The focus of each meeting will change and progress depending on your needs and objectives. You will:
- Develop an understanding of your key financial reports
- Gain knowledge of key accounting concepts
- Learn how to report on cashflow and profit
- Begin to produce your own customised reports on a monthly basis
- Understand how to better manage your debtors and creditors
- Learn how to monitor income and expenses throughout the year
- Find ways to save time on admin tasks that could be automated
- Identify weaknesses / areas to work on between meetings to get better results
- Iron out any existing errors (formats, coding, analysis, timing differences)
- Start to understand other information you may need to capture monthly (e.g. stock, debtors, creditors) and how to do this easily
When should I begin Financial Awareness Coaching?
Any time is a good time to improve your understanding of your financial reports in order to improve business performance. The sooner you start Financial Awareness Coaching the better your understanding of financial results and their implications and the more control you will have over outcomes.
Benefits of Financial Awareness Coaching
- Enables you to better understand your business
- Ensures accuracy in your financial reports by ironing out any existing errors
- Allows you to better manage and monitor your cashflow
- Helps you to customise reports to ensure you capture the right information in a format that makes decision making easier
- Gain better understanding of the financial implications of decisions, allowing you to make better informed decisions
- Provides you with independent financial advice
- Holds you accountable for progress at each meeting by reviewing your reports and recording actions that need to be achieved before the next meeting
- Identifies any burning issues that need to be addressed
- Gain access to the collective wisdom of Mathieson Chartered Accountants; its systems, products and services
- Phone support to address any burning issues between meetings