Predictive Accounting services are important for SMEs
Business Advisory Services Update
Accountants, virtually every one of your SME clients will benefit from the preparation of “Predictive Accounting Reports”. These forecasts will assist in the implementation of the strategies that have been developed by the client or by you for 2023/24.
There are four (4) key components of “Predictive Accounting”:
- Key Drivers within the SME Business – This is the “engine room of the budgeting process”.
- Budgets – Preferably prepared for each operating activity conducted by the business. This will give the individual manager for that operation his/her own budget, which will assist that manager to have a better understanding of the activities for which he/she is responsible.
- Cash Flow Forecast – Information will be transferred in from the budgets and some of the key driver items. This report will assist in the identification of any shortfall of funds, which could lead to the business having to borrow money or seek to raise capital direct from the public.
- Projected Balance Sheet – This report shows what the overall financial picture will be in future years, if the strategies contained within the planning process as reflected within the Budgets and Cash Flow Forecast are implemented.
You can find out more about “Predictive Accounting”, and why it is such an important process for Accountants to offer SMEs, by attending our complimentary webinar on Tuesday 18 July at 10am AEST.
This webinar will also provide an overview of the trends in the USA from Christian Wielage, CEO of PlanGuru Inc, a major developer of budgetary software for businesses and accountants worldwide. We will also provide an input from Paul Barnaby FCA, Australian representative of PlanGuru. Overall, this webinar will outline how these trends will create opportunities for accountants who are offering (or are looking to offer) this particular service in Australia.
Click here to register to attend. You can claim CPD point if you’re a CPA Australia member (must attend the duration of the webinar).
Visit www.essbiztools.com.au to find out more about the services that ESS BIZTOOLS offer, including our current new financial year special on our product packages.
