As a business owner, you need to have a good understanding of what key financial concepts will mean within your business. While it may seem daunting at first, our Advanced Financial Management course will leave you feeling confident and able to interpret your business position accurately.

This multi session-program facilitated by Partner Michelle Hill will leave you skilled in understanding the difference between profit and cashflow including the key components in each, calculating and understanding key financial ratios, what key performance indicators they need to monitor in their business, the breakeven points, the calculation of an hourly charge rate, all done through the use of many practical examples. 

Conducted in a workshop format, you will be joined by a small number of other businesses. The workshop which takes place over two sessions, one month apart, will give you the opportunity to apply these skills immediately and discuss real life scenarios with other like minded people.

BDO Rotorua will help you create a unique vision and strategy. Using tools you will truly understand the space you are operating in and where you want to take your business.

Every business requires a well thought through vision. The first step towards crafting a vision statement is to take a careful look at where you are as a business, your place in the market and your realistic goals for the immediate and long-term future. Using tools, such as PESTLE, you will truly understand the space you are operating in and where you want to take your business.

A vision is inspirational, it lays out the important primary goals for the business. Unlike business plans a vision generally doesn’t outline a plan to achieve these goals. By outlining the key objectives for the business you will allow the stakeholders of the business to get on board and help you achieve your goals.

You will then develop a strategy that fits your business vision – enabling you to achieve your objectives. A strategy is a well thought through plan or method that will be employed to achieve the results desired. Setting the vision and strategy are high level governance initiatives that every successful business to be requires.

Conducted on a one-on-one basis, you will create a vision and strategy that is unique to your business. Taking into consideration factors that determine the success of your business, your new vision and strategy document will be immediately valuable.

A business plan provides you with the “what will we do and when” to make the business vision and strategy come alive. It maps the road to where you are to where you want to take your business through carrying out a thorough analysis using BDO’s Business Review Program. You will define what the key steps are for the business to take.

The Business Review Program will also help you to pinpoint the positives and negatives of your business, both internally and therefore in your control and externally outside of your control.

The plan will ensure the business objectives are SMART (specific, measurable, achievable, relevant and time banded). You will identify the critical success factors for each objective and the KPI that enables the business to measure whether it has been achieved.

Much like business strategy and vision, a business planning session will be held on a one on one basis. You will create a unique business plan that is immediately useful and will enable you to see positive results.

BDO Rotorua offers one on one coaching services provided to you and your business. Participants will learn and be guided in how to achieve the goals/targets set in the planning session.

One on one coaching services provided to you and your business on a monthly, bi-monthly or quarterly basis depending on your personal and business needs.

These sessions are designed to follow on from the one on one Business Planning session, where critical issues in the business and areas for improvement have been identified. Participants will learn and be guided in how to achieve the goals/targets set in the planning session. Strategies will be put in place together with action plans to ensure that they are met. These will directly align with the previously set Business Plan.

There is a strong requirement to feedback on progress at each meeting, holding participants firmly accountable for the results and ensure that they stay on track.

The Xero Masterclass series is designed to help you boost your business. We offer three courses (foundation, intermediate and advanced) to provide you with the accounting and technical knowledge needed to gain visibility and efficiencies around your business for quality decision making.

Each course will grow and develop your understanding of the accounting system and the positive benefits to your workplace. You will be equipped with the skillset to speed up daily processes, differentiate your business and generate customised reporting to suit your specific needs.

Learn more about Xero Masterclasses