The Essential Finance Handbook for Business Owners: 7 basic steps to manage your business financial performance by Precious Mvulane

The Essential Finance Handbook for Business Owners: 7 basic steps to manage your business financial…

byPrecious Mvulane

Kobo ebook | December 4, 2014

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The Essential Finance Handbook for Business Owners is intended to help you to manage and monitor financial performance and compliance in your business. This book will help to:

  1. Develop your business financial goals aligned to your personal goals in finance using SMART principles.  Understanding key performance goals and setting targets to allow to measure and monitor your    performance. Further provided with Action List and Financial Goals Template to get you started. 
  2. Determine the appropriate business structure is suitable for you by assessing advantages and disadvantages including industry that normally operate on those structures. In each structure included legal and Income Tax considerations based on authority, legal personality, control, etc. Provided with Partnership checklist and action list when considering partners or directors.
  3. Know your obligations per South African that laws apply to you as director, shareholder, employer, public officer, supplier, customer and taxpayer. In each laws including records that need to be kept and time period such records need to be kept. There are specific checklists provided in complicated laws. Once off and Regular Compliance Checklists for all basic laws are provided to help you manage compliance risks.
  4. Understanding basic financial concepts i.e finance, corporate finance, financial management, accounting and bookkeeping. The concepts are explained to provide guide of possible impact of micro economic factors e.g inflation, interest, crime statistics, fuel, laws, etc. in your business depending on industry. Corporate finance including investment, dividends and financing decisions.
  5. Financial Management as activities of business being managed by finance unit or division by providing planning and reporting using management, tax and financial accounting standards, laws and management needs. The start of planning from costing, and budgeting and setting selling price for your products or services. Provided simple transactions of retail shop and use such to prepare Financial Statements i.e Income Statement and Balance Sheets. Terminology provided also to help you understand accountant jargon. Know key finance roles i.e Bookkeepers, Accounting Technicians, Accountant, Tax Practitioners, Accountant and Auditors with related required competencies and experience. The different professional bodies (e.g SAICA, ACCA, SAIPA, etc) provided to guide who can provide which services. 
  6. Design financial controls and systems based on risks which can be size of business, costs nature of business and industry and benefits. Provided generic controls to ensure financial information is accurate and reliable. Filling systems including Monthly Finance File to help know which documents need to be kept as accounting records. There is also start up finance money cycle which is the flow of cash with highlight of key risks and insight on controls that can be implemented. 
  7. Measure financial performance in your business step focuses on analysing the reports you will be provided and potential reasons for differences so that you know what to focus on. It further provide interpretation of Financial Statements when you need to check profitability, assets utilization (efficiency) and solvency which can be long term or short term. In each highlighting the formulas and favourable results with explanation which provide insight to different industries.
Title:The Essential Finance Handbook for Business Owners: 7 basic steps to manage your business financial…Format:Kobo ebookPublished:December 4, 2014Publisher:GAD Consulting Services Inc.Language:English

The following ISBNs are associated with this title: