Understanding your Financial Scorecard

(Introductory 1 day workshop)

Who will benefit from this training?

    Business owners who are:

  • concerned about their future business viability
  • unsure how to deal with their bank after several years of loss making
  • needing support to understand their business risk and how to move forward
  • seeking a better understanding of their business performance

How does the learning happen?

  • The workshop is a mix of instruction, group activities and participants working on their own business tax return.
  • A case study tax return is used by all participants, so the finial outcomes can be freely discussed.
  • Business owners work on their own tax returns, while confidentiality is maintained.
  • A simple instructional manual is provided so participants can be guided to do these calculations each year they complete their tax return.
  • Outcomes:

  • Be energised and re-engaged in the business management side of running a profitable and sustainable business
  • How to develop the essential business budgets of Profit & Loss and Balance Sheet accurately from your tax return figures.
  • Better understand your business financial position and risk.
  • Understand your bank’s assessment of your business risk
  • Plan and set goals for the future success of your business
  • Participants have a more detailed understanding of the changes they can make to minimise the impact of drought.
  • Comments from past participants…

  • This has really helped me understand my position from the business point of view, not from the tax situation.
  • I am off to represent my figures to the bank.
  • Thanks for letting me come a second time with my partners, we can now look at the agronomy and production side of things considering the financial impact.
  • Every farm business should take up this opportunity – I went back over five years of figures and can see that if I had known what I know now, I would have made different decisions. (VFF Grains Councillor)