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What Does The Word Astrape
Mean?
Astrape pronounced (AS-STRAP-PAY) is a
Greek word which is translated as:
โ€œLight shining" (of the gleam of the lamp).
Our Mission
Astrape Finance aims to create a
community of persons and businesses
that understand the tenets of financial
management and are able to execute clear
and sound corporate and personal
finance plans for growth.
Online Presence
Facebook
www.facebook.com/AstrapeFinance
Twitter
www.twitter.com/MelindaLBelle
Website
www.astrapefinance.com
Online Presence
Company Blog
http://astrapefinance.wordpress.com
Founderโ€™s Personal Blog
http://everydayfinancial.wordpress.com
Email
melinda@astrapefinance.com
Founderโ€™s Bio
โ€ข Barbadian by Birth
โ€ข Attended the Alexandra Secondary School
then transitioned to Harrison College
(1994-1999)
โ€ข Attended the Barbados Community
College and obtained an Associate Degree
in Computer Studies (1999-2001)
Founderโ€™s Bio
โ€ข Graduated from UWI Cave Hill with a
BSc. Computer Studies & Management
(Double Major, 2001-2004)
โ€ข Possesses seven years of experience in the
accounting field, five of which were
gained in the offshore banking sector
โ€ข Acquired a Certificate in Counselling
from the Barbados Wesleyan District
Founderโ€™s Bio
โ€ข Is a teacher at heart
โ€ข Has been the Founder and Financial
Consultant for the past year and seven
months (and counting!)
FINANCIAL STRATEGIES
2013

#bizboost
Explore Financial Strategies that
Will Boost Efficiency for 2013
and Beyond

#bizboost
How Financial Strategies Boost
Efficiency in Your Company
Track your companyโ€™s financial activities
-

Cash flow
How much you own
How much you owe
How much income you make
How much expenses you incur
#bizboost
How Financial Strategies Boost
Efficiency in Your Company
Track your companyโ€™s financial activities
-

How much you make (or lose)
How much do clients owe you
How much you owe for taxes
How much do you have to pay for salaries

#bizboost
Financial Strategy #1

Set Up An Accounting System

#bizboost
Accounting System

A tailor- made system, suitable to record
the financial transactions of your
business.

#bizboost
Book Based
Cash Journal
Used to record cash transactions
Purchases Journal
Used to record purchases
Sales Journal
Used to record sales
#bizboost
Software Based
- Quickbooks
- Accpacc
- Microsoft Excel

#bizboost
Key Accounting System Tasks
-

Bookkeeping
Reconciling
Accounting

#bizboost
Bookkeeping
The process of recording daily transactions
of the business into books of accounts
or accounting software or both.

#bizboost
Reconciling
The process of balancing your books to
reflect the correct financial picture of
your company.

#bizboost
Accounting
Using the information entered and
presenting it in the form of financial
statements.

#bizboost
Financial Statements
- Income Statement
- Balance Sheet
- Cash Flow Statement

#bizboost
Income Statement
Comprises the following:
Revenues โ€“ Sales
Expenses โ€“ Rent, Utilities, Salaries

#bizboost
Income Statement
Shows your Net Income
Net Income = Revenues > Expenses
Shows your Net Loss

Net Loss = Expenses > Revenues
#bizboost
Balance Sheet
Comprises the following
What you own and Who owes you: Assets
E.g. Equipment, Cash, Accounts Receivable
What and Who you owe: Liabilities
E.g. Accountable Payable, Loans

Money invested into the company: Equity
#bizboost
Balance Sheet
Shows your financial position
Assets = Liabilities + Equities

#bizboost
Cash Flow Statement
Statement used to monitor cash movements
within the company:
- Operating activities
- Investing activities
- Financing activities

#bizboost
Cash Flow Statement
Operating activities
- Expenses
Investing activities
- Purchase of equipment
Financing activities
- Money invested by the owner of the business
or an investor
#bizboost
Financial Strategy #2

Employ Financial Controls

#bizboost
Financial Controls

Tools used to manage a companyโ€™s finances
through planning and performance
evaluation.

#bizboost
Financial Controls
- Budget
- Reconciliation
- Analysis of Financial Statements

#bizboost
Budget
A Budget is a spending plan used to allocate
money for specific purposes.
E.g. Rent, Salaries

#bizboost
Reconciliations
- Petty Cash
- Cheque Book
- Bank Statement

#bizboost
Analysis of Financial Statements
Make comparisons between financial years
- Determine if more or less money was
spent over a specific period
- Determine if more or less money was
made over a specific period

#bizboost
Financial Strategy #3

Plan for Growth via Forecasting
Forecasting
A planning tool used to project future
financial events.

#bizboost
Future Events
-

Sales
Expenses
Investments
Debt Repayments

#bizboost
Financial Strategy #4

Be a Prudent Business Owner

#bizboost
Step #1: Make a Plan

#bizboost
Step #2: Be Patient

#bizboost
Step #3:

Be Persistent

#bizboost
The End

Thank You!

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Financial Strategies 2013

Editor's Notes

  1. A Trial Balance is the document from which Financial Statements are created.
  2. Financial Statements are essential for measuring your companyโ€™s financial performance and reporting your companyโ€™s financial position.
  3. Could be 2 years โ€“ 5 years.