This document summarizes a financial workshop that covered key aspects of developing a financial plan, including estimating sales, costs, and cash flow. The workshop was presented by Catherine Blondiau, Rodolphe d'Udekem d'Acoz, and Martin van Wunnik, and covered topics such as how to estimate sales using top-down and bottom-up approaches, how to account for costs of goods sold and operating expenses, and how to develop financial projections for profit and loss, balance sheets, and cash flow statements. The presentation provided examples and guidance for startup founders on developing the financial model for their business.
MIC 2014 Workshop Financial Plan (Nov 2014)FinanceCoach24
Financial Plan workshop (Nov 18th, 2014) for Microsoft Innovation Center Brussels' boostcamp programme, together with Catherine Blondiau of impulse.brussels
The 5 basic financial concepts every entrepreneur should know.
Start or continue your startup activities in 2013 by gaining some relevant financial concepts during a 1½ hour interactive session, where we shall openly talk about the following topics:
* Company setup
* Accounting
* Financial Plan
* Funding your startup
* Valuation/Dilution
http://www.meetup.com/Finance-for-Startups/events/101587782/
Zugimpex presentation about swiss company formation 2018 limassolHannes Schwarz
Zugimpex shows that it is still attractive to own a Swiss company, if you can use the image, have contact to local customers or benefit from legal advantages.
Accounting as a management tool: reading and interpreting Balance Sheet and P&L Statement
How do you read and interpret your two key accounting documents? What can you learn about your partners and competitors from their balance sheet/P&L Statement?
Created for non-professionals in accounting, this workshop intends to give a general knowledge to the starter of what accounting is and how to use accounting as a management tool.
FD Magazine - Interview CFO Xavier Corman, EDEBEX platform - Maart 2013Martin van Wunnik
Op zoek naar een verhoging van Uw werkkapitaal? Verkoop (met korting) Uw openstaande, niet vervallen, onbetwiste facturen
EDEBEX - interview CFO Xavier Corman
FD Magazine - Maart 2013
MIC 2014 Workshop Financial Plan (Nov 2014)FinanceCoach24
Financial Plan workshop (Nov 18th, 2014) for Microsoft Innovation Center Brussels' boostcamp programme, together with Catherine Blondiau of impulse.brussels
The 5 basic financial concepts every entrepreneur should know.
Start or continue your startup activities in 2013 by gaining some relevant financial concepts during a 1½ hour interactive session, where we shall openly talk about the following topics:
* Company setup
* Accounting
* Financial Plan
* Funding your startup
* Valuation/Dilution
http://www.meetup.com/Finance-for-Startups/events/101587782/
Zugimpex presentation about swiss company formation 2018 limassolHannes Schwarz
Zugimpex shows that it is still attractive to own a Swiss company, if you can use the image, have contact to local customers or benefit from legal advantages.
Accounting as a management tool: reading and interpreting Balance Sheet and P&L Statement
How do you read and interpret your two key accounting documents? What can you learn about your partners and competitors from their balance sheet/P&L Statement?
Created for non-professionals in accounting, this workshop intends to give a general knowledge to the starter of what accounting is and how to use accounting as a management tool.
FD Magazine - Interview CFO Xavier Corman, EDEBEX platform - Maart 2013Martin van Wunnik
Op zoek naar een verhoging van Uw werkkapitaal? Verkoop (met korting) Uw openstaande, niet vervallen, onbetwiste facturen
EDEBEX - interview CFO Xavier Corman
FD Magazine - Maart 2013
Financial Plan workshop (May 18th, 2015) for Microsoft Innovation Center Brussels' boostcamp programme, together with Catherine Blondiau & Rodolphe d'Udekem d'Akoz of impulse.brussels
Financial Concepts for Running your Business (AmCham workshop April 24th 2012)FinanceCoach24
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
Financial Concepts for Running your Business (AmCham workshop April 24th 2012)Martin van Wunnik
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
Accounting as a management tool: reading and interpreting Balance Sheet and P&L Statement
How do you read and interpret your two key accounting documents? What can you learn about your partners and competitors from their balance sheet/P&L Statement?
Created for non-professionals in accounting, this workshop intends to give a general knowledge to the starter of what accounting is and how to use accounting as a management tool.
I
Workshop on March 6th 2012 @ ICAB Brussels
Creating your company:
Why should you create a company?
How should you do it?
What could the consequences be?
Workshop on March 6th 2012 @ ICAB Brussels
Creating your company:
Why should you create a company?
How should you do it?
What could the consequences be?
Entrepreneurship Lecture - How to Start a Startup MBA School - University Man...Michael Altendorf
3 Phases of a Startup
-Standup
-Startup
-Scale Up
Mannheim university
Fundraising, How to find a business angel
Hype Cycle & Geoffrey Moore Crossing the Chasm
From Ideation to MVP and First real product
Team Building
Fundraising
Startup Books
The Secret to Building Successful Digital Sales Programs in 2022 and BeyondAggregage
In this session Prof. Jordi Gili with the Geneva Business School will share key learnings from digital sales programs and will hint at the Key Performance Indicators that Digital Sales programs should aspire to in 2023.
Starting with the financials is far from being the cup of thee of entrepreneurs. However, it may be easier than you thought! Ask yourself key questions regarding the sales generation. It will help you to challenge your business model and at the same time to fill in main items of your financial plan. Good luck!
“Collaboratieve rapportering bij de Elia Group”
Over de collaboratieve ‘last-mile’ rapportering bij de geconsolideerde cijfers van de Belgische-Duitse Elia Group
Oktober 2021 - FD Magazine
"Er is nood aan een goed consolidatieproces"
Panelgesprek tijdens Consolidatie seminar FDMagazine ,
met ARSIMA Projects, AGFA Gevaert, Satriun en CCH Tagetik
28 november 2019
Salons van Edel
Financial Plan workshop (May 18th, 2015) for Microsoft Innovation Center Brussels' boostcamp programme, together with Catherine Blondiau & Rodolphe d'Udekem d'Akoz of impulse.brussels
Financial Concepts for Running your Business (AmCham workshop April 24th 2012)FinanceCoach24
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
Financial Concepts for Running your Business (AmCham workshop April 24th 2012)Martin van Wunnik
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
Accounting as a management tool: reading and interpreting Balance Sheet and P&L Statement
How do you read and interpret your two key accounting documents? What can you learn about your partners and competitors from their balance sheet/P&L Statement?
Created for non-professionals in accounting, this workshop intends to give a general knowledge to the starter of what accounting is and how to use accounting as a management tool.
I
Workshop on March 6th 2012 @ ICAB Brussels
Creating your company:
Why should you create a company?
How should you do it?
What could the consequences be?
Workshop on March 6th 2012 @ ICAB Brussels
Creating your company:
Why should you create a company?
How should you do it?
What could the consequences be?
Entrepreneurship Lecture - How to Start a Startup MBA School - University Man...Michael Altendorf
3 Phases of a Startup
-Standup
-Startup
-Scale Up
Mannheim university
Fundraising, How to find a business angel
Hype Cycle & Geoffrey Moore Crossing the Chasm
From Ideation to MVP and First real product
Team Building
Fundraising
Startup Books
The Secret to Building Successful Digital Sales Programs in 2022 and BeyondAggregage
In this session Prof. Jordi Gili with the Geneva Business School will share key learnings from digital sales programs and will hint at the Key Performance Indicators that Digital Sales programs should aspire to in 2023.
Starting with the financials is far from being the cup of thee of entrepreneurs. However, it may be easier than you thought! Ask yourself key questions regarding the sales generation. It will help you to challenge your business model and at the same time to fill in main items of your financial plan. Good luck!
“Collaboratieve rapportering bij de Elia Group”
Over de collaboratieve ‘last-mile’ rapportering bij de geconsolideerde cijfers van de Belgische-Duitse Elia Group
Oktober 2021 - FD Magazine
"Er is nood aan een goed consolidatieproces"
Panelgesprek tijdens Consolidatie seminar FDMagazine ,
met ARSIMA Projects, AGFA Gevaert, Satriun en CCH Tagetik
28 november 2019
Salons van Edel
“Fiscale consolidatie op weg naar groot succes?”
Welke evolutie voor de Belgische fiscale consolidatie, nu de spelregels gekend zijn?
Zijn complexe subconsolidaties verleden tijd?
Martin van Wunnik - FD Magazine n°135, Mei 2019
"BTW eenheid voorbeeld voor fiscale consolidatie?"
Een vergelijking van de principes en werkwijze van de bestaande BTW eenheid ten opzichte van de toekomstige fiscale consolidatie in België
Martin van Wunnik – FD Magazine n°122, Februari 2018
"Fiscale consolidatie komt eraan"
Een introductie omtrent de nakende fiscale consolidatie in België
Martin van Wunnik – FD Magazine n°119, November 2017
If you recognize yourself in this description, please take 5 minutes to read on and answer these 3 simple questions:
"By now you have been working for several years with Excel, gradually getting better at it and making simple or elaborate spreadsheets for private or business use. All in all, you are quite satisfied with your work and the results."
“Fast close dank zij aangepaste structuren" bij Agfa Healthcare
Dubbel interview Ann Goossens & Karen Mattheessens
Martin van Wunnik – FD Magazine n°100, December 2015
бельгийский-русский проектов
Conception of your international ERP or accounting system from any local-based system,
in Russia, Poland, Germany, Belorussia, Ukraine or Kazakhstan.
Open source finance met Odoo bij Ecoworks, met de assistentie van Noviat
Dubbel interview Sander De Kegel, Luc De Meyer
FD Magazine, n° 89, November 2014
FD Magazine - Colruyt Group: Omtrent boekhouding, controlling en businessanalyseMartin van Wunnik
“De werelden van boekhouding, controlling en businessanalyse zijn naar elkaar toe gegroeid”, dubbel interview Carine Gilissen & Kevin Aerts van Colruyt Group
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
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It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
1. MIC boostcamp - Finance workshop
Convert your business model into figures
Key parts and logic behind your financial plan
Catherine Blondiau
Rodolphe d'Udekem d'Acoz
Martin van Wunnik
17/04/2012
07/02/2012
13 Feb ’14
Xavier Corman | Martin van Wunnik
1
2. Who are we ?
Catherine Blondiau
Rodolphe d'Udekem d'Acoz
Martin van Wunnik
07/02/2012
13 Feb ’14
Xavier Corman | Martin van Wunnik
2
3. This presentation is available for free:
http://www.slideshare.net/FinanceCoach24
07/02/2012
13 Feb ’14
Xavier Corman | Martin van Wunnik
3
5. Why a Financial Plan ?
If you don't think about the future,
you cannot have one.
John Golsworthy
where you want to go
You need to know
how you are supposed to get there
17/04/2012
07/02/2012
13 Feb ’14
Xavier Corman | Martin van Wunnik
5
9. Financial Plan
Content
– Assumptions
– Profit & Loss
– Balance Sheet / Investment
– Cash-Flow -> Cash needed
– Valuation of the project
– Profitability / return of the project
17/04/2012
07/02/2012
13 Feb ’14
Xavier Corman | Martin van Wunnik
9
11. Accounting: Profit & Loss (P&L)
COGS (Cost of Sales)
General Expenditures
Personnel Costs
Revenues (Sales…)
Depreciation
Taxes
EBIT
Financial cost
Profit
17/04/2012
07/02/2012
13 Feb ’14
Xavier Corman | Martin van Wunnik
11
12. Accounting: Balance Sheet
ACTIVE
PASSIVE
Non Current Assets
(Actifs Immobilisés/
Vast Activa)
Equity + Reserves
(Capital/Kapitaal)
LT Debts
Current Assets
(Actifs circulants/
Vlottend Activa)
17/04/2012
07/02/2012
13 Feb ’14
ST Debts
Xavier Corman | Martin van Wunnik
12
16. Financial assumptions
How to estimate your Sales?
Catherine Blondiau
Rodolphe d’Udekem d’Acoz
Business and Finance Advisors @ IMPULSE.Brussels
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
16
17. SALES
Market potential = (Average Purchase * How Much * How Often)
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
17
19. Price?
Pricing of alternative solutions
How much is the customer ready/willing to pay?
Price:
- Not too low
- Not too high
- Coherent
Test it!
Evolution of the selling prices?
What is the average amount per purchase?
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
19
20. How Much?
2 methods to evaluate How Much you will be able to sell
Top Down
approach starts
with market and
industry data.
17/04/2012
07/02/2012
Bottom Up
approach starts
with your
customers and
your resources
Xavier Corman | Martin van Wunnik
20
21. How Much? – Top Down
A Top Down analysis is calculated by determining the total
market, then estimating your share of that market.
It works in 3 steps :
1.
Total Available Market (TAM) : How large is the market if all
customers buy your product ?
2.
Serviceable Available Market (SAM) : Focus on your own
technology/services
3.
Serviceable Obtainable Market (SOM) : Which realistic market
share can be obtained by myself, considering competition,
countries, my sales/distribution channels and other market
influences?
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
21
22. How Much? – Top Down : Example
You want to sell internet access in Europe
TAM
Total population of Europe
500 millions
SAM
% of the population who want
internet access
80%
400 millions
SOM
Based on your market study, you
expect to achieve 1% of that potentiel
audience
1%
4 millions
Each account will yield €250 per year.
Expected revenue : € 1 billion (4 millions ×€250/customer)
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
22
23. How Much? – Bottom-Up
This approach allow you to estimate the sales considering
the client and your resources.
The idea is to understand how much you will be able to sell
considering the resources of your company :
- Time
- People
- Money
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
23
24. How Much? – Bottom Up: Example
You want to sell internet access in Europe
We can bring on board five salespeople
5 salespeople
Each salesperson can make ten phone sales calls a day
that get through to a prospect.
10 calls/day
There are 240 working days per year.
240 days
5% of the sales calls will convert within six months
5%
Estimated sales
600
Each account will yield €250 per year.
Expected revenue : € 150 000 (600×€250/customer)
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
24
25. How Much?
Combine both approaches
- Use top-down analysis to estimate the market opportunity for your
company—to decide whether you want to try it in the first place
- Use bottom-up analysis to get a realistic and testable estimate of
what you can achieve within the first years of your startup
Challenge both approaches and present a coherent global
perspective of your estimated sales
One-off/recurring/bundled sales?
What are the supporting trends of your market ?
How fast will the market grow?
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
25
26. When & How ?
How and When are you going to sell your products ?
Sales channels: Direct / Indirect – focus may shift over time
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
26
27. When & How ? - COCA
Impact on the cost of customer acquisition (COCA)
€?
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
27
28. When & How ? - COCA
Impact on the cost of customer acquisition (COCA) :
- It costs money to achieve each sales
- How much resources (time, €, HR) does it require (cf
Bottom Up approach)?
- Includes unsuccessful prospects
- To be taken into account in your financial plan
- Choice of channels :
Financially sustainable?
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
28
29. When & How ? - COCA & LTVOAC
COCA & Life time value of an acquired customer
- Cost of Customer Acquisition (COCA)
COCA = Sales & Marketing Costs / Customers
- Life time value of an acquired customer (LTVOAC)
LTVOAC = revenue over life time x gross margin
- Each acquired customer will provide you with revenues
during his life time (as a client of your company)
- Put those revenues in perspective with the COCA
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
29
30. When & How ? - COCA & LTVOAC
Lifetime value of a gym member who spends €20 every
month for 3 years?
- €20 X 12 months X 3 years = €720 in total revenue (or
€240 per year)
How much will it cost you to acquire this client? Allowable
acquisition cost?
How to optimize LTVOAC?
Discount while managing CF
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
30
31. Don’t Forget …
Probably one of the most important parameters … and
certainly the most difficult to estimate !!
Consider different (sub)categories of products and/or
services
Consider the volume of units (products/services) sold and the
respective selling prices
Outputs
– Per product (category)
– Per client / market / segment
– Per channel
– Combine ?
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
31
32. Don’t Forget …
Gross sales or Net sales (e.g. after commission, bad debts…)
Consider the initial volumes and the growth rates for each
line of products/services without forgetting the market’s
dynamic (seasonality, evolution of the selling prices,
growth…)
Be aware of potential delays and lower (initial) volumes &
growth rates than expected.
Consider the sales without VAT (unless you do not
recuperate it !)
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
32
33. Don’t Forget …
The sales data should be based on tangible elements and
hypothesis directly linked to the business plan
In no circumstances should the volume of sales be based on
the costs … : “ spontaneous sales creation ” in order to
achieve break even or benefit on paper does not help and
could possibly endanger your credibility in the eyes of third
parties
To keep in mind:
- User friendliness, avoid too much items
- Internal logic : price, discount, cost of sales, payment
conditions… & cycle
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
33
39. • Sales
• Costs of goods/services sold
• (Other) Operating Costs
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
39
40. COGS : Cost of Goods / Services sold
•
= Cost of Sales
•
Variable costs directly linked to the goods / services
sold and highly or totally proportional to the sales
•
Can be close to zero for some kind of activities
•
Much easier to predict than the volume of sales itself
(should logically be based on tangible elements)
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
40
41. COGS : Cost of Goods / Services sold
•
Two main categories:
a) goods purchased and/or manufactured
NB: attention point: means a potential inventory
and an additional financial need
b) other costs, linked to sales, with no impact on
inventory
NB: eg. Transport, paiment or packaging costs
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
41
42. COGS : Cost of Goods / Services sold
•
Deducted from the sales, it will give the gross
margin or gross revenues
NB: often an important parameter, notably to
monitor the evolution of profitability & to make
comparison with company in similar business
•
17/04/2012
07/02/2012
In some cases, there is a grey zone whether
some costs « should » be integrated in the COGS
or the general expenses, with some freedom to
choose
Xavier Corman | Martin van Wunnik
42
43. COGS : Cost of Goods / Services sold
• Do not forget that the cost per unit sold can
change following different parameters such as
inflation or the evolution in the volume of sales
(bargaining power with suppliers)
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
43
44. Margin : relative notion
• A margin is a relative concept ! Be aware that it’s all
about points of view. Otherwise, it could lead to
misinterpretation.
for example, for the gross margin, it could be expressed
in terms of:
- an amount in currency
- a percentage of the sales (without VAT), which is the
most commonly used approach
- but also sometimes as a percentage of the costs
(quite unusual for gross margin but stil …)
17/04/2012
07/02/2012
Xavier Corman | Martin van Wunnik
44
45. Margin : relative notion
Cost of goods / services sold:
100 €
Sales:
150 €
- Margin expressed in €:
50 €
- Margin expressed as % of costs: 50%
- Margin expressed as % of sales: 30%
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46. • Sales
• Costs of goods/services sold
• (Other) Operating Costs
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47. General Expenses or « Fixed » costs
•
•
•
General Expenses
Or « fixed » costs
Or selling, general & administrative exp. (SGA)
•
•
•
•
Rent & Maintenance expenses
Utilities, Telephone, Internet & Licences, etc
Insurance & Bank fees (not the financial interests !)
Third parties / subcontracters, notably : Accountants,
Lawyer fees, External sales, etc
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48. General Expenses or « Fixed » costs
• Marketing & Communication expenses
NB: not to be underestimated !
• Travel & representation expenses
• HR costs other than salary and related costs
• Taxes (not the taxes on profit)
• … Unexpected expenses !
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49. General Expenses or « Fixed » costs
• R&D (if not integrated in the investments)
• Use of tangible assets (if not integrated in investments)
• Expenses versus Investments
• Profit & Loss account versus Treasury
• Consider what could/should be considered as pure
costs, to be opposed to costs than can or have to be
« activated » (on the balance sheet) & amortized
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50. General Expenses : HR costs
• Employees versus Workers
• Director (self-employed) versus staff under contract
NB: social costs linked to the shareholder of a
company working for it under a self-employed status
is not to be included in the FP of the company,
unless specifically foreseen
The differences in the fiscal status and in the
costs berd by the company for both
categories are quite significant
(eg multiplication effect x 1.34 x 13.92 !)
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51. Costs with no impact on treasury
Amortization, Depreciation & Provisions :
(= costs not implying a direct cash out)
Amortization is automatically calculated in the
template based on the investments (and the
amortization tenor)
Depreciation & Provisions are not included at this
stage (not relevant for a starter)
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53. IMPULSE
Too many things to list them all here! We inform you, we guide you and we
accompany you in a whole range of areas such as creating an
enterprise, financing, innovation, town planning, environmental
permits, partnerships … by means of newsletters, websites, seminars or
tailored coaching.
Briefly, we create a complete ecosystem in which you can grow as an
entrepreneur!
More info on our websites : www.impulse.irisnet.be - www.entreprendreabruxelles.be
www.ecosubsibru.be – www.monstarterkit.be – www.brutrade.be
info@1819.be - info@impulse.irisnet.be
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54. Martin van Wunnik
0475 / 96.95.91
Martin@FinanceCoach24.com
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13 Feb ’14
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