Posted: 01 December 2021

Implementing Systemisation - Session 2 Accountant’s Role Is A Bit Like A ‘Financial Sherlock Holmes’

Accountant's Minute 300

Andrew Geddes, Accounting Industry Coach and former Chair of Greencross Ltd, a Top 200 ASX company joined Peter Towers, Managing Director, ESS BIZTOOLS for a discussion in Session 2 of the ESS BIZTOOLS’ Black Friday webinar series and made the following comments relative to the utilisation of:

“SME Needs’ Analysis”;
“Business Planning”;
“Crowd Sourced Funding Equity Raising”;
“Strategic Business Mentoring”;
“Succession Planning”; and
Product Packages within ESS BIZTOOLS.

“Accountants offering Business Advisory Services play a role a bit like a ‘Financial Sherlock Holmes’ to understand the business and its revenue, margins and cashflow and try and improve the good bits”. “It is not difficult work, but it takes time and you’ve got to get to know your client’s business.”

“What I’m seeing is that some accountants are taking their staff out to clients with them and involving them in the process - in so doing it enriches the jobs of those young people and they can see a career path, whereby yes, there’ve got to do some compliance/production work, but there is also the relationship with the client and an involvement with them in meetings, taking minutes, working on project groups, which creates an excitement for the team members”.

“When the profession is crying out that we can’t get enough people, this is how we attract and retain really good young people - I think we’ve got to involve them in our client relationships where the fun and the challenge and the learning really is and then they can say okay tomorrow I’m back in the office and I’ve got to put my head down and get some business done and they can look forward to the next client visit and involvement”.

It is important that systems are utilised for the implementation of business advisory services and some of the comments included:

Each ESS BIZTOOLS’ product package has a “Procedure Control Form” to formulate the “system”.

The SME Needs’ Analysis is the key document as it “prompts” the accountant on points to discuss with your client in an attempt to ascertain the areas of concern for your client:
Happy with the results?
- Does the team understand the “Key Performance Indicators?”
- Are you happy with the level of “debtors’ days outstanding?”
- Are you concerned with “cashflow management?”
- Would you like to understand the opportunities to raise capital for your company?
- Do you want us to prepare “Predictive Accounting Reports - Budgets - Cashflow Forecasts - Projected Balance Sheets”?
Accountants should have an understanding of Crowd Sourced Funding Equity Raising so that you can guide clients on this important activity because a company can raise $5M in 12 months from the public.
Strategic Business Mentoring is an area where you could discuss “Scaling up” with your client.

You can view the presentation of Session 2 of the Black Friday webinar by clicking here.

BLACK FRIDAY SPECIAL OFFER!

50% discount on all ESS BIZTOOLS’ products.

Including:

Advanced Package (includes all ESS BIZTOOLS’/ESS BIZGRANTS’ products) 12 months upfront discount payment $3,250 (incl GST) - normally $6,500.
Business Advisory Services Starter Package (includes 17 packages) 12 months upfront discount payment $999 (Incl GST) - normally $2,100.

To subscribe please logon to the ESS BIZTOOLS’ website - Subscribe Here - https://www.essbiztools.com.au/index.php?option=com_content&view=article&id=2347&Itemid=53

BLACK FRIDAY SPECIALS ARE AVAILABLE UNTIL MONDAY 6th DECEMBER 2021

AFFILIATES’ SUPPORT PACKAGES

Our Affiliates are supporting the subscribers of ESS BIZTOOLS with the following support packages. New subscribers can select one of the packages when they subscribe to ESS BIZTOOLS.

Smithink (Mark Holton)

Discounted subscription fees for the “Young Gun Conference” at the Gold Coast, 21/22 February 2022.
Link to video click here. Link to article click here.

Cloud Nine Associates (Priscilla Bea Smith)

CPD hours at a discount – first 5 subscribers who leave a “review” will be reimbursed the cost of the small business concession course fee.
Link to video click here. Link to article click here.

Blackstone Business Group (Jordan Lowry)

Complimentary Employment Contract Review – Reduced Employment Contract Package for $399 plus GST.
Link to video click here. Link to article click here.

“Selling the Message” – Brad Smart is offering to write or help you write your first customer email or newsletter without charge. This offer is for the first 10 firms who have subscribed to the ESS BIZTOOLS’ promotion. Link to video click here.

Beyond Accounting Technologies (Paul Barnaby)

Predictive Accounting review normally $695 at no charge for the first 20 firms that have subscribed to the ESS BIZTOOLS’ promotion
Link to video click here. Link to article click here.

Amanda Gascoigne Consulting (Amanda Gascoigne)

“Small and Solo Practice Coaching Session” no charge for the first 10 firms that have subscribed to the ESS BIZTOOLS’ promotion.
Link to video – click here. Link to article – click here.

We acknowledge the assistance offered by our Affiliates. Details of the offering by each Affiliate is available on the ESS BIZTOOLS’ website - Affiliates - click on the Affiliate.

WANT TO KNOW MORE?

You are invited to “Book A Free Strategy and Demonstration Session” on ESS BIZTOOLS with Peter Towers, Managing Director, ESS BIZTOOLS to gain a better understanding of the services that are available within ESS BIZTOOLS and ESS BIZGRANTS?

You can book a demo at www.essbiztools.com.au or contact Peter Towers: