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Financial Concepts            for Running your Business24/4/2012
Product & Service                   level             Finance & Accounting                     level24/04/2012            ...
Who we are ?             Martin van Wunnik             Xavier Corman24/04/2012                       Xavier Corman | Marti...
Get the fundamentals right with three simple overviews- Accounting basics- Entrepreneurs / projects (financial plan)Where ...
Get the fundamentals right with three simple overviews- Accounting basics 24/04/2012           Xavier Corman | Martin van ...
Product &                                                              Service level                     1.000 EUR        ...
Accounting: Balance Sheet                    ACTIVE                                 PASSIVE                               ...
Profit & Loss statements (P&L)                                            COGS (Cost of Sales)                            ...
Show me the money!      Revenues (Sales…)                     COGS (Cost of Sales)                    General Expenditures...
Get the fundamentals right with three simple overviews- Entrepreneurs / projects (financial plan) 24/04/2012             X...
http://www.monstarterkit.be/bzplan.cfm24/04/2012            Xavier Corman | Martin van Wunnik   11
24/04/2012   Xavier Corman | Martin van Wunnik   12
Content Financial Plan       –     Assumptions       –     Profit & Loss       –     Balance Sheet / Investment       –   ...
Financial Plan in 10 min /questions                  What are your revenues ?                    What are your costs ?    ...
• 3 to 5 years• Monthly or Quarterly base• Excel or Calc is your friend• Start by listing your main assumptions24/04/2012 ...
Tips for assumptions• Office: 10-25 m²/person• EUR 100/m²/year + 15 % for maintenance           [ or COWORKING !]• Insuran...
Tips for assumptions• Car leasing : 300 – 800 EUR per month• Salary : Gross monthly x 19,2 = Yearly cost• Revenues: worst-...
Where to look to find the main information- Balance sheet - Profit & Loss statement 24/04/2012           Xavier Corman | M...
www.nbb.be “On-line consultation of annual accounts”www.data.be                                                           ...
24/04/2012   Xavier Corman | Martin van Wunnik   20
24/04/2012   Xavier Corman | Martin van Wunnik   21
24/04/2012   Xavier Corman | Martin van Wunnik   22
GROSS MARGIN                                                   – GENERAL                                                 E...
Cash crunch risk, grow or survive?- Cash flows & funding in times of crisis 24/04/2012             Xavier Corman | Martin ...
CASH  24/04/2012   Xavier Corman | Martin van Wunnik   25
Required Cash-Flow24/04/2012       Xavier Corman | Martin van Wunnik   26
How to finance your start-up ?24/04/2012           Xavier Corman | Martin van Wunnik   27
Next Workshops                                      ICAB (Brussels)Registration through www.westartup.eu (50 EUR VAT incl....
This presentation is available for free:             www.slideshare/FinanceCoach24.com               www.slideshare.net/xa...
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Financial Concepts for Running your Business (AmCham workshop April 24th 2012)

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Get the fundamentals right with three simple overviews
- Accounting basics
- Entrepreneurs/starters (financial plan)

Where to look to find the main information
- Balance sheet - profit & loss statement

Cash crunch risk, grow or survive?
- Cash flows & funding in times of crisis

Published in: Business, Economy & Finance
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Transcript of "Financial Concepts for Running your Business (AmCham workshop April 24th 2012)"

  1. 1. Financial Concepts for Running your Business24/4/2012
  2. 2. Product & Service level Finance & Accounting level24/04/2012 Xavier Corman | Martin van Wunnik 2
  3. 3. Who we are ? Martin van Wunnik Xavier Corman24/04/2012 Xavier Corman | Martin van Wunnik 3
  4. 4. Get the fundamentals right with three simple overviews- Accounting basics- Entrepreneurs / projects (financial plan)Where to look to find the main information- Balance sheet - Profit & Loss statementCash crunch risk, grow or survive?- Cash flows & funding in times of crisis 24/04/2012 Xavier Corman | Martin van Wunnik 4
  5. 5. Get the fundamentals right with three simple overviews- Accounting basics 24/04/2012 Xavier Corman | Martin van Wunnik 5
  6. 6. Product & Service level 1.000 EUR 21% VAT(quarterly or monthly refund request/compensation) Investments Cash out: 1.210 EUR Cash in: 210 EUR (>3m) Profit impact: 200 EUR over 5y Cost Cash out: 1.210 EUR Cash in: 210 EUR (>3m) Profit impact: 1.000 EUR Discounted Cash Flows Finance & Accounting level 24/04/2012 Xavier Corman | Martin van Wunnik 6
  7. 7. Accounting: Balance Sheet ACTIVE PASSIVE Equity (Capital/Kapitaal) Non Current Assets (Actifs Immobilisés/ Vast Activa) LT Debts Current Assets (Actifs circulants/ Vlottend Activa) ST Debts24/04/2012 Xavier Corman | Martin van Wunnik 7
  8. 8. Profit & Loss statements (P&L) COGS (Cost of Sales) General Expenditures Personnel Costs Revenues (Sales…) Depreciation Financial cost Taxes Profit24/04/2012 Xavier Corman | Martin van Wunnik 8
  9. 9. Show me the money! Revenues (Sales…) COGS (Cost of Sales) General ExpendituresCharges Personnel Costs Financial cost Taxes Depreciation CASH CASH-FLOW IF NEGATIVE DRAIN Profit24/04/2012 Xavier Corman | Martin van Wunnik 9
  10. 10. Get the fundamentals right with three simple overviews- Entrepreneurs / projects (financial plan) 24/04/2012 Xavier Corman | Martin van Wunnik 10
  11. 11. http://www.monstarterkit.be/bzplan.cfm24/04/2012 Xavier Corman | Martin van Wunnik 11
  12. 12. 24/04/2012 Xavier Corman | Martin van Wunnik 12
  13. 13. Content Financial Plan – Assumptions – Profit & Loss – Balance Sheet / Investment – Cash-Flow -> Cash needed – Valuation of the project – Profitability / return of the project Don’t waste your time in developing a huge financial plan before being sure that your project is viable !24/04/2012 Xavier Corman | Martin van Wunnik 13
  14. 14. Financial Plan in 10 min /questions What are your revenues ? What are your costs ? What are your investments ? How many persons for your project ?24/04/2012 Xavier Corman | Martin van Wunnik 14
  15. 15. • 3 to 5 years• Monthly or Quarterly base• Excel or Calc is your friend• Start by listing your main assumptions24/04/2012 Xavier Corman | Martin van Wunnik 15
  16. 16. Tips for assumptions• Office: 10-25 m²/person• EUR 100/m²/year + 15 % for maintenance [ or COWORKING !]• Insurances: 1 -3 % of revenues• Marketing: define a % of revenues + starting investment• Don’t forget lawyers, accountant, social secretary, office supplies…24/04/2012 Xavier Corman | Martin van Wunnik 16
  17. 17. Tips for assumptions• Car leasing : 300 – 800 EUR per month• Salary : Gross monthly x 19,2 = Yearly cost• Revenues: worst-case & best-case – First 3 to 6 months: 0 EUR – Maximum ‘billable’ hours per day (one-off events, holidays, prospecting, etc...)• Own salary : Realistic different ‘hats’24/04/2012 Xavier Corman | Martin van Wunnik 17
  18. 18. Where to look to find the main information- Balance sheet - Profit & Loss statement 24/04/2012 Xavier Corman | Martin van Wunnik 18
  19. 19. www.nbb.be “On-line consultation of annual accounts”www.data.be Yearly publication 2 years Short or Long version Public! 24/04/2012 Xavier Corman | Martin van Wunnik 19
  20. 20. 24/04/2012 Xavier Corman | Martin van Wunnik 20
  21. 21. 24/04/2012 Xavier Corman | Martin van Wunnik 21
  22. 22. 24/04/2012 Xavier Corman | Martin van Wunnik 22
  23. 23. GROSS MARGIN – GENERAL EXPENDITURES PERSONNEL COSTS DEPRECIATION FIN. REVENUES FINANCIAL COSTS LOSS24/04/2012 Xavier Corman | Martin van Wunnik 23
  24. 24. Cash crunch risk, grow or survive?- Cash flows & funding in times of crisis 24/04/2012 Xavier Corman | Martin van Wunnik 24
  25. 25. CASH 24/04/2012 Xavier Corman | Martin van Wunnik 25
  26. 26. Required Cash-Flow24/04/2012 Xavier Corman | Martin van Wunnik 26
  27. 27. How to finance your start-up ?24/04/2012 Xavier Corman | Martin van Wunnik 27
  28. 28. Next Workshops ICAB (Brussels)Registration through www.westartup.eu (50 EUR VAT incl.) 24/04/2012 Xavier Corman | Martin van Wunnik 28
  29. 29. This presentation is available for free: www.slideshare/FinanceCoach24.com www.slideshare.net/xaviercorman Group: www.meetup.com/Finance-for-Startups24/04/2012 Xavier Corman | Martin van Wunnik 29
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