BDO knows restrictions and lockdowns make things hard for small businesses and the continued uncertainty about future measures in many states means 2021 is challenging many businesses across the country. To equip you with the knowledge you need to combat the pressure of operating a small business during COVID-19, BDO invites you to their free virtual masterclasses.
Learn how to build a budget for your business from the bottom-up
Rather than focusing on forecasting top line revenue, we challenge you to build a budget from the bottom up. The first step in this process is to determine what net profit you want to make. Then review all expenses, looking for opportunities to reduce costs. In this process your top line revenue is determined by target profit plus all business expenses. This wholistic approach to forecasting financials ensures business owners review every part of their business, not just their revenue model.
What you will learn in this masterclass
- Translate your business goals into financial strategy
- Create a profit reinvestment plan
- Learn how to forecast future income and expenses
- Identify how to correctly allocate your cost of goods sold
- Calculate your revenue gap
- Build a high-level budget from the bottom-up.
Who should attend this masterclass?
This masterclass suits anyone looking to improve their financial literacy and learn how to build an accurate budget for their business. This financial education will be delivered virtually, business leaders located all across Australia are welcome to attend, specifically:
- Business owners who want to forecast their business growth
- Owners of startups, small businesses and large organisations
- Financial Controllers who manage the finances in a business
- Treasurers of not-for-profit organisations or community groups
- Bookkeepers wanting to better educate their clients about cash flow