BUDGETING FOR BUSINESS
Cashflow & Profits
Rede Gold Coast Accountants wants to be your trusted advisor in business management.
An essential part of proper business management is developing and adhering to a budget. Budgets are not only one of the best business tools you can have, they also enable you to set financial targets and measure your performance through business valuation. The management and projection of cash flow needs is a great by -product of this process.
The main role of budgets comes from their goal setting value. However, budgets also greatly improve your chances of acquiring funding, as financiers often require budgets as a prerequisite for funding approval.
The development of a suitable budget needs to be a team effort. Meeting, discussing, listening, analysing to achieve the end result. Rede Accountants utilises a number of techniques to form financial projections enabling you to consider future scenarios and set goals to achieve for your business. There are a number of different options when it comes to developing a budget. Rede Accountants will help you design a specific budget to meet the needs of your business.
Example: a client took over a successful family business as part of a succession plan. The bank insisted on a two year cash flow forecast and budget as part of the financing conditions. Further quarterly reporting of these budgets against actual results has been invaluable in meeting with the new owner and discussing any significant variations and future changes.