The Past has no Future

Wednesday 10 May 2023 at 12pm AEST

“The past has no future” was the key quotation in the “Leading Australian SMEs in 2023 Is Changing Economy” White Paper, produced by Thomson Reuters.

The key messages from this White Paper for public accountants were as follows:

- “For many, cash is tight” – we all know that, but what are you doing for your clients? For example, have you conducted a line by line review of their expenses to see what savings could be made?

- “Online training is very important” and there is the possibility that some of your clients could undertake this activity has a revenue producer.

- “We must grow to survive” – how can you assist your clients to grow so that they can survive? Most of them will need assistance on the preparation of growth strategies, which could then be incorporated into their business plan, budgets, cash forecast and projected balance sheets.

- What is the “potential for the development of new markets” for your client? Prepare SWOT analysis on individual projects to firm up on a strategy.

- Your client might need additional funding for the business – it could be very beneficial for your client if you raise that question now and explore where that funding might be sourced. Whichever funding source is chosen – loans or capital raising by the issue of shares in the company – your client is going to require a business plan, budget, cash way forecasts and projected balance sheets. Exactly the same kind of data that clients will need in their endeavours to grow to survive.

There is a clear message here for accountants. In the past, many of us have ignored these key documents that are definitely required by business in the future if they are going to be successful.

It is now only 53 days to 30 June 2023!

This webinar will provide an understanding of how you can implement strategies for your client which are not relying on the past.

NOTE: CPD point eligibility for CPA Australia members (must attend the duration of the webinar).