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Want to now what #Business and #CorporateFinance looks like in #Australia. Here is a small sample of the work we do with our valued clients. #ceo #accounting #financebroker #financialplanning

[The Interplay Between Risk & Return in Corporate Finance] Let's explore the interplay between risk & return in corporate finance. Risk in corporate finance refers to the . . . https://lnkd.in/dvrsEB6D

Determining who should be the authorized persons for managing bank payments is a crucial decision for any organization. Here are some key roles typically assigned this responsibility: Chief Financial Officer (CFO): The CFO is usually the primary person responsible for overseeing all financial operations within the company, including authorizing bank payments. Their deep understanding of the company's financial health makes them ideal for this role. Financial Controller: The Financial Controller manages accounting and financial reporting. They are often authorized to approve payments, ensuring compliance with financial policies and procedures. Treasurer: The Treasurer is responsible for managing the company’s treasury functions, including cash flow, investments, and risk management. They often have the authority to approve payments to manage liquidity and financial risk effectively. Accounts Payable Manager: The Accounts Payable Manager oversees the payment process and ensures that all invoices are processed and paid correctly. They are typically authorized to manage and approve daily payment transactions. CEO or Managing Director: In smaller organizations, the CEO or Managing Director may be directly involved in authorizing significant payments to ensure overall control and oversight. Authorized Signatories: Depending on the company’s size and structure, other senior employees might be designated as authorized signatories. These individuals are selected based on their roles and trustworthiness within the organization. Best Practices for Selecting Authorized Persons Segregation of Duties: Ensure there is a clear separation between those who approve payments and those who process them to reduce the risk of fraud. Clear Policies: Establish and document clear policies and procedures for payment authorization, including approval limits and required documentation. Regular Review and Audits: Conduct regular reviews and audits of the payment process to ensure compliance and identify any irregularities. Training and Certification: Provide ongoing training for authorized persons to keep them informed about the latest financial regulations and best practices. Access Control: Implement stringent access controls to ensure that only authorized personnel can approve and initiate payments. Conclusion: Selecting the right individuals to authorize bank payments is vital for ensuring financial security and efficiency within an organization. By carefully choosing experienced and trustworthy employees and implementing robust controls and procedures, companies can safeguard their financial transactions and maintain operational integrity.

Risks of Commingling Funds Legal Issues - Mixing personal and business finances can jeopardize legal protections, exposing personal assets to business liabilities. Tax Problems - It complicates tax preparation and can lead to errors and issues with the IRS. Financial Mismanagement - Difficult to track business finances accurately, leading to poor financial decisions. Bookkeeping Challenges - Makes maintaining clear and accurate financial records difficult. Auditing Issues - Raises red flags during audits, potentially leading to penalties. Impacts on Business Credit - Blurs the distinction needed to build a business credit score, affecting loan and credit opportunities. How to Avoid Commingling Funds Separate Accounts: Use different bank accounts and credit cards for personal and business transactions. Clear Documentation: Keep detailed records of all business expenses and income. Regular Reconciliation: Reconcile bank statements regularly. Professional Help: Hire a bookkeeper or accountant. Keeping finances separate ensures smooth and compliant business operations. #ProfitFirst #FinancialStrategy #SmallBusinessTips #FractionalCFO #Bookkeeping #CashFlow _____________________________________________________________ I'm Steven Cronin, a Fractional CFO specializing in helping professional services businesses achieve growth and reach their financial goals. Services offered - Strategic Financial Planning: Financial Analysis and Reporting Budgeting and Forecasting Cash Flow Management Financial Risk Management Operational Efficiency Core Bookkeeping Services

As a CFO, identifying red flags is crucial to maintaining the financial health and integrity of the organization, Here are some key red flags a CFO should consider: 1. Inconsistent or Unreliable Financial Data : Frequent Restatements: Repeated adjustments to financial statements may indicate underlying issues with accounting practices or controls. Unexplained Variances: Significant variances between budgeted and actual figures without clear explanations can be a sign of financial mismanagement or fraud. 2. Poor Cash Flow Management : Delayed Payments: Regular delays in paying vendors, employees, or other obligations could indicate cash flow problems. Increasing Accounts Receivable: A growing receivables balance may signal issues with credit management or customer payment behavior. 3. Rising Debt Levels : High Leverage: An increasing reliance on debt to finance operations, especially without corresponding revenue growth, is a warning sign. Unfavorable Loan Terms: Refinancing existing debt with unfavorable terms or taking on high-interest loans may suggest liquidity issues. 4. Weak Internal Controls : Lack of Segregation of Duties: Insufficient division of responsibilities among employees can lead to errors or fraud. Inadequate Documentation: Poor record-keeping or missing documentation for financial transactions can be a red flag for fraudulent activity. 5. Declining Profit Margins : Erosion of Margins: A consistent decline in gross or net profit margins may indicate inefficiencies, increased costs, or pricing pressures. Uncontrolled Expenses: Rising costs without corresponding revenue growth could signal a lack of expense management. Being vigilant about these red flags can help a CFO identify and address potential problems before they escalate.

Is your team overburdened with work because of an open position in Accounting & Finance? Do you have critical projects on hold because of a lack of staff? We are here to help! Take a look at our Robert Half Accounting & Finance loan staff consultants currently available and let's setup a time to discuss how these tenured consultants can alleviate your biggest frustrations today.

The True Role of an Audit: It's Not About Criticism, It's About Assurance As auditors, we often find ourselves explaining our role to clients, especially when there is an initial resistance or misunderstanding. Many people charged with governance view auditors as "critics" of their accountants or financial team. But in reality, the purpose of an audit goes far beyond simply pointing out mistakes. So, what is the true role of an audit? An audit is an independent examination of financial statements. Our primary goal is to provide assurance that these financials are accurate, reliable, and in line with the applicable financial reporting framework. We are not there to critique or undermine the finance team; rather, we add an extra layer of confidence that everything is in order. Why does this matter? Audited financial statements are crucial for a wide range of users and serve a much bigger purpose than internal review: Key Users of Audited Financial Statements in Botswana BURS (Botswana Unified Revenue Service) – They rely on the financials to assess a company's tax obligations and compliance. NBFIRA (Non-Bank Financial Institutions Regulatory Authority) – For companies in sectors like insurance, microfinance, or pension funds, NBFIRA requires accurate financial data to ensure regulatory compliance. Banks and Lenders – If a company has taken a loan or seeks credit, audited financial statements offer assurance to banks and other financial institutions about the company's financial stability. Shareholders and Investors – These stakeholders depend on the audit to make informed decisions regarding their investments. Suppliers and Business Partners – Trust is key in long-term relationships, and audited financials give partners confidence in your ability to meet obligations. Regulators – Different industries are regulated by various bodies, and accurate financial reporting is a key compliance requirement. Why might your business require an audit? Loans or Financing: Many banks will require audited financials as part of the loan agreement to ensure the business is financially healthy and can repay the loan. Asset Thresholds: Businesses with assets above a certain threshold are legally required to have their financials audited in order to confirm that they are being managed responsibly. Company Growth: As your business grows, having audited financials not only helps ensure compliance but also adds credibility to your brand, which can be valuable when seeking new partnerships or expanding into new markets. In short, we are here as partners in accountability and trust, not as adversaries. An audit provides assurance to both internal and external users that the company’s financial statements present a true and fair view of its financial position. This trust is essential for long-term growth and sustainability in today’s business environment. #Audit #BusinessAssurance #Governance #FinancialReporting #BURS #NBFIRA #CorporateFinance

In this blog, we'll explore the key differences between Personal Finance and Corporate Finance along with highlighting their unique characteristics. Both are recognized proper professions and fields with various career paths. Introduction: Finance is a broad term that encompasses various aspects of managing money, but two distinct categories stand out: Personal Finance and Corporate Finance. While both deal with financial management and somehow interconnected but they differ significantly in scope, objectives, and strategies. 🔳 Personal Finance: Personal Finance focuses on managing an individual's or household's financial resources to achieve financial stability, security, and goals. • Objectives: Financial stability, security, and independence. It involves: - Budgeting and saving - Investing in assets (e.g., stocks, real estate) - Managing debt and credit - Planning for retirement and emergencies - Optimizing tax strategies ✅Professions: 1. Financial Advisor 2. Financial Planner 3. Wealth Manager 4. Investment Advisor 🔳 Corporate Finance: Corporate Finance, on the other hand, deals with managing a company's financial resources to maximize shareholder value. • Objectives: Maximize particular organization shareholders value, growth, capital, ROI, and profitability. It involves: - Raising capital (equity, debt) - Investing in projects and assets - Managing risk - Optimizing capital structure and cost of capital - Mergers and acquisitions Professions: 1. Financial Analyst 2. Investment Banker 3. Portfolio Manager 4. Risk Management Specialist 🔻Key Differences: 1- Decision-making authority: Personal Finance (individual) vs. Corporate Finance (team) 2- Objectives: Personal Finance (financial stability) vs. Corporate Finance (maximize shareholder value) #finance #investment #ROI

𝗗𝗶𝗱 𝘆𝗼𝘂 𝗸𝗻𝗼𝘄 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲𝗿𝗲 𝗮𝗿𝗲 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗿𝗲𝗴𝘂𝗹𝗮𝗿 𝗕𝗮𝗻𝗸 𝗥𝗲𝗰𝗼𝗻𝗰𝗶𝗹𝗶𝗮𝘁𝗶𝗼𝗻 𝗳𝗼𝗿 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀? We continue with our series on bank reconciliation-consider checking my previous post if you have missed on anything. Regular bank reconciliation is not just a best practice, it's a powerful tool for maintaining the financial health of your business. Here’s why you should make it a habit: 1️⃣𝗜𝗺𝗽𝗿𝗼𝘃𝗲𝗱 𝗖𝗮𝘀𝗵 𝗙𝗹𝗼𝘄 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁: 🔹Regular reconciliation helps you keep track of all transactions, ensuring you always know your available cash. This is vital for making informed financial decisions. 2️⃣𝗘𝗮𝗿𝗹𝘆 𝗙𝗿𝗮𝘂𝗱 𝗗𝗲𝘁𝗲𝗰𝘁𝗶𝗼𝗻: 🔹By regularly checking your accounts, you can quickly spot unauthorized transactions, minimizing potential losses. 3️⃣𝗔𝗰𝗰𝘂𝗿𝗮𝘁𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀: 🔹Ensuring your records match your bank statements leads to accurate financial reporting, essential for stakeholders and compliance purposes. 4️⃣𝗥𝗲𝗱𝘂𝗰𝗲𝗱 𝗘𝗿𝗿𝗼𝗿𝘀: 🔹Regular checks help identify and correct errors promptly, preventing them from accumulating and causing bigger issues. 5️⃣𝗘𝗻𝗵𝗮𝗻𝗰𝗲𝗱 𝗗𝗲𝗰𝗶𝘀𝗶𝗼𝗻 𝗠𝗮𝗸𝗶𝗻𝗴: 🔹With accurate and up-to-date financial information, you can make better strategic decisions, driving your business towards growth. Statistics say that businesses that reconcile their accounts monthly reduce their risk of fraud by up to 30%. #Bookkeeping #RecordKeeping #BankReconciliation #SmallBusiness PS:If you are coming across my profile for the first time, my name is Rose Onyango, I am a Bookkeeper and Accountant, I help your business achieve financial clarity and compliance with expert record keeping. DM Me now if you need help.

Bank reconciliation is an important part of any organisation and individual to keep the track of income and expenses and cash flow. Here is the summary of what can be saved by regularly reconciling bank accounts. Bank reconciliation is an essential process for businesses and individuals, ensuring that their financial records match the bank's records. Here are several key reasons highlighting its importance: 1. **Accuracy of Financial Records**: Regular bank reconciliation ensures that the financial records are accurate and up-to-date, reflecting the true financial position of the business. 2. **Fraud Detection**: By regularly reconciling bank statements, businesses can detect and address fraudulent transactions early. Unexplained differences or unauthorized transactions can be investigated promptly. 3. **Error Identification and Correction**: Discrepancies between the bank statement and the company's books can indicate errors, such as double entries, missed entries, or bank errors. Reconciliation helps identify and correct these mistakes. 4. **Cash Flow Management**: Accurate reconciliation provides a clear picture of available cash, aiding in better cash flow management and financial planning. 5. **Compliance and Auditing**: Regular reconciliation is often required for compliance with accounting standards and regulations. It also prepares businesses for external audits by maintaining clean and accurate financial records. 6. **Preventing Overdrafts and Ensuring Adequate Funds**: Reconciliation helps in monitoring account balances, preventing overdrafts, and ensuring there are sufficient funds to cover outstanding checks and obligations. 7. **Enhancing Decision-Making**: Reliable financial information derived from regular reconciliations supports informed decision-making, helping management plan and strategize effectively. Overall, bank reconciliation is a crucial practice for maintaining the integrity of financial records, safeguarding against errors and fraud, and ensuring the financial health of a business or individual. To hire or outsource your work to an ICB bookkeeper is not a cost but an investment. So invest in us to help you to grow your business and financial efficiency. ——————————————— Hi, I am Mehul Dave. Get in touch with us for your bookkeeping and accounting requirements. #bookkeeping #bookkeepingservices #bemorebookkeeper #notjustabookkeeperanicbbookkeeper #icb #icbthebest