September has been a time of change here at Advivo as we welcome new staff to our dynamic team of accountants and business advisors. This month we also hosted yet another free seminar on Successful Family Business Transition for our clients and guests. This event was a great success and we would like to take this opportunity to thank our insightful presenters, Peter McKnoulty from Transition Planning Australia and Susanne Bransgrove from Families in Transition.

Our focus for the month of September is financial management. Strong financial management leads to a transparency of figures and supports a real understanding of the numbers in your business. Once you have an understanding of the numbers that comprise your business you can recognise what is happening and know how to influence the results that are being achieved. With strong financial management, the world is your oyster!

Leon Stephan

Managing Partner

Introducing Our Financial Modelling Service

In today’s sporadic economic climate, there has never been a greater need for financial modelling to ensure success and profitability for a business. This is why Advivo is pleased to introduce this type of Financial Modelling Service.

A brand new tool we are introducing this month is our Future Fitness 3-Way Report. This report incorporates our 3-way modelling method to take your business to the next level and consists of projected Cash Flow, Profit & Loss and Balance Sheet. By implementing the 3-way modelling correctly, the Future Fitness 3-Way Report would be in sync, giving you a clear picture of your anticipated profit, the amount that should be in your bank and even your business’ overall net worth.

Another tool we use is the Business Pulse Report which tracks and monitors your business’s progress and ensures you are on the right track. A sample of this report can be found here.

To learn more about our new financial modelling service, click here.

Dale Edwards - Advivo Accountants and AdvisorsMonthly Team Member Profile:
Dale Edwards (Partner)
Advivo’s expert in Financial Management and Tax Accounting.

Dale has over eighteen years’ experience in the accounting industry and is a member of the Institute of Chartered Accountants and a Registered Tax Agent. He has an extensive background in financial management and specialises in the small to medium business space.

He believes that financial management is an integral part of a thriving business as the stronger your financial management is the greater the opportunity you have to maximise your profits in the short term and to grow your capital value in the long term.

As a Partner, Dale’s main priority is his clients. He wants to make sure that all financial opportunities are maximised and that his clients receive the best outcomes for their business. Looking into the future, Dale is excited to be growing Advivo into a thriving and prosperous business that provides world-class financial service to clients.

When Dale is not at work he is playing backyard sport with his three little boys or relaxing by reading historical fiction.

Did you miss our seminar on Successful Family Business Transition?

On August 25th Advivo in conjunction with Transition Planning Australia and Families in Transition hosted a seminar on Successful Family Business Transition.

Presenting on the night was our very own Managing Partner, Leon Stephan, CEO of Families in Transition, Susanne Bransgrove and CEO of Transition Planning Australia, Peter McKnoulty.

Susanne spoke about the relationship between all members in a family business and how each is affected by the business. Peter discussed how a business owner’s personal life is affected by the business and how this changes once an owner decides to leave the business. Leon then covered the logistics of a succession plan and how Advivo can support the new business owners in their leadership.

It was a very informative night and we thank everyone who attended the seminar.

For your convenience, we have provided a copy of the slides from each presenter. Family Business Transition Slides

Thank-you for your Service

At the end of this month sadly one of our treasured employees, Christine Cooper, will be retiring. Christine has been a valued member of the accounting team at Advivo for ten years.

The nice part about retiring is you’ll have lots of time to do the things that you could not do because of work. The bad part is how much we will miss the pleasurable experience of working with Christine.

Christine, we wish you all the best and thank you for your years of dedication, enthusiasm and team spirit.

Key Events/ Dates:

  • 1 July – 30 September: 1stFinancial Quarter
  • 21 September – Lodge and pay August 2016 monthly activity statement
  • 30 September – Lodge PAYG withholding payment summary annual report

Thomson Reuter Tips and Updates

September Feature Article – Maintaining a Healthy Cash Flow
The importance of strong cash flow is aptly stated in the common saying “cash is king.” That Is, having cash puts you in a more stable position. As such, maintaining a healthy cash flow should business’s main priority.

With this in mind, our feature article for September provides strategies to strengthen your company’s cash flow. Full article.

Increase the Odds of getting a Loan
It is a common misconception that bankers only want to lend money when we don’t need it. Realistically, loan officers are more likely to give you a loan if you have a financial model. This is because you are able to demonstrate your businesses ability to meet debt obligations when they fall due. Full article.

The team at Advivo are committed to helping your business thrive with our financial modelling service and 3-way modelling tool.  We understand that financial modelling can seem complicated, but with our highly skilled accountants and business advisors here to help, we will make the process as easy as possible.

Focus: The ‘Profit Centres’ of Your Business
More often than not, successful businesses have to make the strategic decision to ‘fix it or exit.’ This means that any part of the business that doesn’t earn its keep must either be repaired or let go. Many businesses tend to avoid taking the time to identify their key profit centre and eliminate marginal products or services. Full article.