Bookkeeping appreciation with CoCoon Hong Kong

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We are giving an informal presentation this week to the start-ups at CoCoon Hong Kong this week. The title of our session is Bookkeeping Appreciation. more here: http://futurebooks.asia/blog/bookkeeping-appreciation-with-cocoon-hong-kong/6548

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Bookkeeping appreciation with CoCoon Hong Kong

  1. 1. Prepared for CoCoonHong Kong, March 2013BOOKKEEPINGAPPRECIATION
  2. 2. LAUNCH YOURBIG IDEAwww.futurebooks.com.sg
  3. 3. FINANCIAL + JUDICIALRESPONSIBILITIES Downloadwww.futurebooks.com.sg
  4. 4. ACCOUNTS ARE ASAUSAGE FACTORYwww.futurebooks.com.sg
  5. 5. ACCOUNTS ARE ASAUSAGE FACTORY Bookkeeper makes management accounts Accountant makes annual financial accounts Tax advisor makes the tax computation Corporate secretary holds the AGM and files reportswww.futurebooks.com.sg
  6. 6. AWAKENYOURINNER CFO
  7. 7. #CAAAAASHwww.futurebooks.com.sg
  8. 8. ENTREPRENEURSARE CREATIVE I love customers I love talking about my idea All I want to do is make productwww.futurebooks.com.sg
  9. 9. AWAKENTHE CFO Establish a budget Setup a finance email address The money belongs to the companywww.futurebooks.com.sg
  10. 10. MEET YOUROPPONENTSwww.futurebooks.com.sg
  11. 11. SETUP A CFOAVATAR PEACEFUL AGGRESSIVEwww.futurebooks.com.sg
  12. 12. IDENTIFY YOURSTAKEHOLDERS Transaction type Stakeholders Risk Accounts receivable Customers Default on (AR) payment Cash payments (Cash) Customers Security Accounts payable (AP) Suppliers Cashflow Payroll Staff + Government Penalties and (IRAS + MOM) staff turnover GST Government (IRAS) Penaltieswww.futurebooks.com.sg
  13. 13. ANALYSE 3 TYPESOF BUSINESSES Consulting business Restaurant business App store businesswww.futurebooks.com.sg
  14. 14. IDENTIFY YOURSTAKEHOLDERS Consulting business (B2B) 220 #Cash, 2 TRANSACTIONS Payroll, 20 GST, 20 AR, Stakeholder: 80 customer AP (fixed), 50 AP (variable), 50www.futurebooks.com.sg
  15. 15. IDENTIFY YOURSTAKEHOLDERS Restaurant business (B2C) 450 Stakeholder: TRANSACTIONS staff + Govt Payroll, 60 #Cash, 90 Stakeholder: GST, AR, 10 Govt. 50 AP (fixed), Stakeholder: 50 suppliers AP (variable), 200www.futurebooks.com.sg
  16. 16. IDENTIFY YOURSTAKEHOLDERS App store business (B2C) GST, 10 Payroll, 100 1500 TRANSACTIONS AP (fixed), 30 Stakeholder: staff AP (variable), 150 AR, 10 #Cash, 1,000www.futurebooks.com.sg
  17. 17. TRANSACTIONCOMPARISON Payroll GST App store Restaurant AP (fixed) ConsultingAP (variable) AR Cash 0 100 200 300 400 500 600www.futurebooks.com.sg
  18. 18. TIME TO GET ABOOKKEEPER
  19. 19. COMPLICATEDOPERATIONS Payroll Inventorywww.futurebooks.com.sg
  20. 20. IT IS TIME TO GET ABOOKKEEPER Honey, shouldn’t you delegate that?www.futurebooks.com.sg
  21. 21. VALUE OF TIME Satisfied customers Dissatisfied customers wanted $21 reward wanted $60 reward for for waiting. waiting.http://www.acrwebsite.org/volumes/display.asp?id=11176 www.futurebooks.com.sg
  22. 22. FOCUS ON WHATYOU LOVEwww.futurebooks.com.sg
  23. 23. INCREASE YOURFINANCIAL ACUMEN Revenue over time and sales projection Download http://futurebooks.com.sg /services/bookkeeping- service/bookkeeping- retainerwww.futurebooks.com.sg
  24. 24. INCREASE YOURFINANCIAL ACUMEN Net profit over time and projection Downloadwww.futurebooks.com.sg
  25. 25. INCREASE YOURFINANCIAL ACUMEN Score entrepreneurs performance Downloadwww.futurebooks.com.sg
  26. 26. METRICS Cost per click Daily Active Users (DUA) Cost of acquisitionwww.futurebooks.com.sg
  27. 27. ABOUT US @futureb00ks www.futurebooks.com.hkwww.futurebooks.com.sg
  28. 28. TERMS OF USEwww.futurebooks.com.sg

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