Are you getting the most from the information you have?

James Law’s - Etesian Group

You can find the Etesian Group at www.etesiangroup.com.au

Contact James Law on 0409 199 547

I can also be found on Twitter and Linkedin

Location – Perth Western Australia

Client base includes Western Australia, South Australia and Northern Territory.

“ to spoil the ship for a ha'penny worth of tar ...” ( cont)

Fair weather managers……….

Does your company employ one or more bookkeepers? How many accountants? Any financial controllers? Who set up the chart of accounts? How and why? What do your financial reports tell you? Who is overseeing the accountants? Are your results timely and meaningful? What strategic advice do you get from your accountants? Are your accountants more focused on compliance and tax? Do you rely on your external tax accountant? How are you controlling your cash flow? Are you in breach of any of your borrowing covenants? What are GAAP?

I could go on………! The reality is that the vast majority of businesses can’t and don’t use there financial information. Furthermore the majority of those that try to aren’t getting the right information, and rather dangerously for them don’t even know it. Most businesses financial information is designed solely for the taxman and the banker.

Good financial information is forward looking and allows management to make informed decisions regarding the businesses future. Has your business got:

• Effective cash flow management tools?
• Well constructed management reports?
• Effective budgets?
• The appropriate business plans?
• Cost effective processes?
• Financial analysis and strategy formulation?
• Proper internal controls?
• Management of tax issues?
• Good banking relationships?
• Good governance and risk analysis?
• Management of debt and equity funding?
• An appropriate level of profit for the investment, turnover and risk employed?

Really? How do you know?

Maybe its time you applied a bit more tar???????

Don’t wait until it’s too late, call me now for a free business health check, 0409 199 547.

 “the commoner type of success in every walk of life and in every species of effort is that which comes to the man who differs from his fellows not by the kind of quality which he possesses but by the degree of development which he has given that quality. This kind of success is open to a large number of persons, if only they seriously determine to achieve it. It is the kind of success which is open to the average man of sound body and fair mind, who has no remarkable mental or physical attributes, but who gets just as much as possible in the way of work out of the aptitudes that he does possess. It is the only kind of success that is open to most of us.” – Theodore Roosevelt

Cheers

James Law

0409 199 547