John J Bowman Jr, and accountant, discusses how businesses can use the cash versus accrual method for their businesses. John J Bowman also details the pros and cons of both methods.
John J Bowman Jr, and accountant, discusses how businesses can use the cash versus accrual method for their businesses. John J Bowman also details the pros and cons of both methods.
A unique way to convert unreadable financial statements into a Treasure Map. Use the map to tell a story and go on a Treasure Hunt to find hidden riches within your business
The Money Map reveals how a small business can profile its financial performance creating real actionable results
The Money Map methodology is not about accounting it is about understanding how your business behaves, the way it makes money and creates wealth.
If you are in business and you know there is a better way, you are in the right place.
You are probably very familiar with the rule that at least 20 percent of your time must be spent working on your business as apposed to working in it. But exactly what does that mean? The Money Map is a powerful methodology to help you work on your business.
During this course you will gain insight into your business in a way you have never dreamed possible. Your business has a story and the way that you can tell your story empowers what you do and how you make good decisions that create fundamental improvements in your financial performance.
The secret lies in the only business scorecard. Yes it's your financial statements. These statements record every transaction in your business. These transactions are based on decisions made either consciously or unconsciously. The way you use your financial statements thus becomes a foundation of the effectiveness of your actions and strategies.
Using your financial statements to identify those constraints and dysfunctions provides you with a powerful catalyst to know what should be focused on and why, enabling you to release significant profit and cash improvement. Isn't that what you are in business for in the first place?
6 Strategies for Consistent Profit & Cashflow PROTRADE United
Inconsistent profits and cash flow can create stress and unnecessary pressure, resulting in reactive decisions that may have you compromising your quality of work and long term results.
Careful cash flow planning and financial strategising allows you to make smarter decisions for the future. There are many simple tools a business owner can use to create consistent, sustainable revenue with a take-home profit.
Revenue is the biggest driver of profitability. I gave this presentation on how to use the income statement as a tool to plan for business profitability The talk was at Grossmont College in San Diego at Paula Margulies class on Business Planning.
We discovered that there are these eight key drivers that drive up the value of a company. The Value Builder assessment gives you a score for each of those eight drivers. This paper gives you the detail behind the Valuation See Saw driver and shows you how to get your own score.
GoSolo Workshop 4: Looking behind the numbersBECO Capital
At this GoSolo presentation we went through the difference between profit and cash flow and ran through how to develop a budget/forecast for your startup.
We discovered that there are these eight key drivers that drive up the value of a company. The Value Builder assessment gives you a score for each of those eight drivers. This paper gives you the detail behind the Switzerland Structure driver and shows you how to get your own score.
Understanding financial statements - a business toolWomen In Business
I used this presentation at a recent workshop of SMME's hosted by SEDA. Purpose was to encourage SMME's to understand the basics of their financial statements and use them as management and decision making tools.
Part of the all day Venture Fast Track: http://www.thecapitalnetwork.org/programs/venture-fast-track/
Financial Projections
Join our experts in an overview discussion of financial projections. Learn the key metrics that will get investors to notice you, as well as those that will get you rejected. If you have no idea where to begin with your financial projections, this program is for you.
Experts:
- Alicia Amaral – Scalar Analytics
-Heather Onstott – LaunchCapital
This is an initial introduction to accounting. There are four types of accounting: bookkeeping, financial, managerial, and tax. Accounting records are probably the first written records and double entry bookkeeping is over 500 years old. Accounting is a fundamental concept of modern life.
Accounting tips for small business canada by accountant oakville and mississaugaH & T Accountant Services
We are located in Mississauga and Brampton, Ontario, servicing these and surrounding areas of the Greater Toronto Area (GTA) such as Milton, Oakville, Georgetown, Etobicoke, and Vaughan. We can prepare for you any documents you need to file with various government departments regarding income tax, harmonized sales tax, workplace safety insurance, and payroll.
The 8 biggest mistakes made by small businessColin Wright
Too many small business owners start losing track of the true picture of performance once the size and complexity of the business increases. Are you making one of these 8 critical mistakes?
A unique way to convert unreadable financial statements into a Treasure Map. Use the map to tell a story and go on a Treasure Hunt to find hidden riches within your business
The Money Map reveals how a small business can profile its financial performance creating real actionable results
The Money Map methodology is not about accounting it is about understanding how your business behaves, the way it makes money and creates wealth.
If you are in business and you know there is a better way, you are in the right place.
You are probably very familiar with the rule that at least 20 percent of your time must be spent working on your business as apposed to working in it. But exactly what does that mean? The Money Map is a powerful methodology to help you work on your business.
During this course you will gain insight into your business in a way you have never dreamed possible. Your business has a story and the way that you can tell your story empowers what you do and how you make good decisions that create fundamental improvements in your financial performance.
The secret lies in the only business scorecard. Yes it's your financial statements. These statements record every transaction in your business. These transactions are based on decisions made either consciously or unconsciously. The way you use your financial statements thus becomes a foundation of the effectiveness of your actions and strategies.
Using your financial statements to identify those constraints and dysfunctions provides you with a powerful catalyst to know what should be focused on and why, enabling you to release significant profit and cash improvement. Isn't that what you are in business for in the first place?
6 Strategies for Consistent Profit & Cashflow PROTRADE United
Inconsistent profits and cash flow can create stress and unnecessary pressure, resulting in reactive decisions that may have you compromising your quality of work and long term results.
Careful cash flow planning and financial strategising allows you to make smarter decisions for the future. There are many simple tools a business owner can use to create consistent, sustainable revenue with a take-home profit.
Revenue is the biggest driver of profitability. I gave this presentation on how to use the income statement as a tool to plan for business profitability The talk was at Grossmont College in San Diego at Paula Margulies class on Business Planning.
We discovered that there are these eight key drivers that drive up the value of a company. The Value Builder assessment gives you a score for each of those eight drivers. This paper gives you the detail behind the Valuation See Saw driver and shows you how to get your own score.
GoSolo Workshop 4: Looking behind the numbersBECO Capital
At this GoSolo presentation we went through the difference between profit and cash flow and ran through how to develop a budget/forecast for your startup.
We discovered that there are these eight key drivers that drive up the value of a company. The Value Builder assessment gives you a score for each of those eight drivers. This paper gives you the detail behind the Switzerland Structure driver and shows you how to get your own score.
Understanding financial statements - a business toolWomen In Business
I used this presentation at a recent workshop of SMME's hosted by SEDA. Purpose was to encourage SMME's to understand the basics of their financial statements and use them as management and decision making tools.
Part of the all day Venture Fast Track: http://www.thecapitalnetwork.org/programs/venture-fast-track/
Financial Projections
Join our experts in an overview discussion of financial projections. Learn the key metrics that will get investors to notice you, as well as those that will get you rejected. If you have no idea where to begin with your financial projections, this program is for you.
Experts:
- Alicia Amaral – Scalar Analytics
-Heather Onstott – LaunchCapital
This is an initial introduction to accounting. There are four types of accounting: bookkeeping, financial, managerial, and tax. Accounting records are probably the first written records and double entry bookkeeping is over 500 years old. Accounting is a fundamental concept of modern life.
Accounting tips for small business canada by accountant oakville and mississaugaH & T Accountant Services
We are located in Mississauga and Brampton, Ontario, servicing these and surrounding areas of the Greater Toronto Area (GTA) such as Milton, Oakville, Georgetown, Etobicoke, and Vaughan. We can prepare for you any documents you need to file with various government departments regarding income tax, harmonized sales tax, workplace safety insurance, and payroll.
The 8 biggest mistakes made by small businessColin Wright
Too many small business owners start losing track of the true picture of performance once the size and complexity of the business increases. Are you making one of these 8 critical mistakes?
You need a cash flow statement to understand how much money is coming into and leaving your company. Every time you examine a financial statement, you should look at it from a business standpoint. The purpose of financial documentation is to shed light on an organisation's financial situation and health.
An ultimate guide on bootstrapping your small business in 2019Merchant Advisors
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The forecast for the Singapore economy in 2017 paints a challenging picture. To help you navigate and support your business through the slower economy, we have put together some insightful tips to share with you. You will learn the essentials on how to manage late payments, maximising your tax return, as well as available grants that your business can tap into.
Discover the five easiest steps for cash to accrual conversion! Clear your confusion fro conversion. Transtutors presents five steps to follow to convert cash accounting into accrual accounting.
For accounting homework help or any type of questions on accounting, ask Transtutors' experts available 24x7 to help students.
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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.
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Why You Should Monitor Operating Cash Flow and How to Do It
1. Why You Should Monitor
Operating Cash Flow and
How to Do It
A SPECIAL REPORT FROM THE CREATORS OF SMART BUSINESS MONEY HABITS™
2. Cash flow. What is it?
Search on the internet for the term
“cash flow” and you’ll find common
agreement with Wikipedia that “Cash
Flow is the movement of money into or
out of a business”. As accurate as this
definition may be, it’s not very helpful
to the entrepreneur wrestling with a
cash flow problem or working to avoid
such problems.
Cash flow. What it’s not.
Cash flow is not the same as profit. It is
not the same as cash in the bank. It is
not necessarily a good measure of
how well your business is doing. Having
lots of cash flow does not necessarily
mean you have lots of profit or even
any profit. Alternatively, a high level of
profit can be obtained while cash flow
is weak or even non-existent.
3. Now let’s go
back to that
seemingly
meaningless
definition and
flesh it out a
bit….
“CASH FLOW IS THE
MOVEMENT OF MONEY INTO
OR OUT OF A BUSINESS”
4. A practical measure of a business’
cash flow is called “Operating
Cash Flow” (OCF)
Also known as “Cash Flow from Operations,” OCF is a basic financial measure
that tells us how well a business is really doing.
5. “
”
Operating Cash Flow may be the
single most important metric for
measuring the health of your
core business operations.
6. OCF tells you how much cash you
generate from operating your business.
It counts only the money coming from
customers.
It excludes money coming from loans
or from your pocket.
It deducts only the cash paid to
suppliers and for the general expenses
of operating the business.
It excludes money going out for loan
repayment as well as money used to
reinvest for growth such as buying
equipment or buildings.
The result shows whether operating
your business creates cash (positive
cash flow) or consumes cash
(negative cash flow).
7. IF BASIC OPERATIONS ARE
CONSUMING CASH, THAT IS
A HUGE WARNING SIGN
THAT YOUR BUSINESS IS ON
DANGEROUS GROUND.
8. OCF is the source
of funds to repay
debt, buy needed
equipment, and
pay dividends or
distributions to
owners.
OCF MUST BE POSITIVE
(CREATING CASH) IF YOUR
BUSINESS IS TO SURVIVE.
9. How do we calculate OCF?
It may be as simple as printing an OCF statement from your computer
accounting program.
If your program is not set up to print an OCF statement, here is the formula to
manually calculate OCF…
10. The Formula for Calculating Operating
Cash Flow
Operating Cash Flow (OCF) = Net Income
plus Depreciation & Amortization
plus decrease or minus increase in Accounts
Receivable
plus decrease or minus increase in Inventory
plus increase or minus decrease in Accounts
Payable
plus loss or minus gain from sale of assets
(It will take less than five minutes to take the numbers from your Income Statement (P&L) and Balance Sheet
and insert them in the formula.)
11. Here are two real-life examples…
Company A Company B
Net Income 254,000 254,000
plus Depreciation 14,000 14,000
minus A/R increase 15,000 50,000
minus Inventory increase 3,000 20,000
plus A/P increase 12,000 2,000
Operating Cash Flow 262,000 200,000
13. Company B
has cause
for concern.
Although their
OCF is positive, it
is much less than
Net Income.
From the increase in Accounts Receivable, it appears they may
be growing too rapidly and consuming their cash.
14. “
”
Businesses often don’t go broke,
they grow broke.
THIS MEANS THEY GROW FASTER THAN THEIR CASH FLOW CAN SUPPORT
Growing too fast is a common cause of cash flow crises and business failure.
15. Now that you know your OCF, what
do you do about it?
As mentioned above, the first test is to see whether your business is creating or
consuming cash.
If it is creating cash, the next step is to compare OCF with Net Income. Ideally,
OCF is more than Net Income.
However, a growing business will often have OCF that is less than Net Income.
This condition cannot exist for long before your business will be out of cash.
Rapidly growing businesses must generally find sources of cash in addition to
OCF.
The sources will be either loans, further investment of cash in the business by the
owner, or funds from investors.
16. But what about
a business that is
consuming
cash?
THAT CONDITION MUST BE
CORRECTED OR SURVIVAL IS
UNLIKELY.
17. The Cash-Eating Business
You can begin the analysis process by studying the formula and each
entry you inserted into the formula.
If you don’t find the source of the problem in that analysis, you must go to
the Income Statement for the answer.
If solutions are not forthcoming, it is time to seek professional advice. Your
accountant or one of the Smart Business Money Habits Advisors can
provide the help you need.
18. For businesses in the startup or
early operating stages…
…use Smart Business Money Habits #6: At the end of each
week, project your cash on hand for the next 4 weeks and
#7: Prepare a reliable action plan for dealing with
projected cash shortages to begin the cash flow
projection habit so necessary to business survival and
success.
19. For businesses in more advanced
operating stages…
…use the more sophisticated and focused Smart Business
Money Habit #21: Implement an advanced system for
tracking and managing your business finances including
more detailed cash flow projections to gain control over
operations and, most importantly, gain control over
growth.
20. Tools for
implementing
these Habits are
part of the Basic
and Advanced
More Profit
Toolkits™.
FOR MORE DETAILS ABOUT
THE MORE PROFIT TOOLKIT,
GO TO:
www.MoreProfitToolkit.com
21. How to Put More Profit in Your Pocket
You can also find additional
information to actively use the Smart
Business Money Habits to increase your
profits in our eBook, How to Put More
Profit in Your Pocket: Practical
Principles for Building a Highly
Profitable, Valuable, and Sustainable
Business.
Learn more at:
www.SmartBusinessMoneyHabits.com
22. “
”
If you don’t control your cash,
you can’t control your business.
Don’t delay putting our Cash Flow Habits into
practice if you want to create a profitable,
valuable, and sustainable business.
23. About
Dan Bowser and George Huang are the
founders of Business Money Insights (BMI) and
creators of the Smart Business Money Habits
and the More Profit Toolkit. BMI is an education
and training company dedicated to helping
independent business owners make and keep
more profit from their businesses.
Their mission is to help entrepreneurs become
successful by introducing financial
management and discipline to their businesses.
You can learn more at:
www.SmartBusinessMoneyHabits.com