1 / 21

HELPING YOUR CLIENTS OUT OF RECESSION 27 MARCH 2014 BY Richard Simms FCA

HELPING YOUR CLIENTS OUT OF RECESSION 27 MARCH 2014 BY Richard Simms FCA. PRESENTATION OVERVIEW (1). Compliance v Consultancy Customer Service Non-bank funding Marketing. PRESENTATION OVERVIEW (2). Management accounts Cash flow indicators Solvent liquidations.

amir-hardin
Download Presentation

HELPING YOUR CLIENTS OUT OF RECESSION 27 MARCH 2014 BY Richard Simms FCA

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. HELPING YOUR CLIENTS OUT OF RECESSION 27 MARCH 2014 BY Richard Simms FCA

  2. PRESENTATIONOVERVIEW (1) • Compliance v Consultancy • Customer Service • Non-bank funding • Marketing

  3. PRESENTATION OVERVIEW (2) Management accounts Cash flow indicators Solvent liquidations

  4. Compliance v Consultancy(1) • Accountants are now the people directors turn to for business advice • Role of the accountant is adapting to include a consultancy role

  5. Compliance v Consultancy (2) Directors are looking for an accountant who has an opinion on their business not just their books Creating a closer relationship will benefit both parties

  6. Customer Service • Not just something for the retail industry • Take more care of clients leading to better relations • Turn a small fee into a larger fee

  7. Non-Bank Funding (1) Growth in non-bank funding Alternative sources of finance Peer to peer lending Grants and Start Up funds

  8. Non-Bank Funding (2) Always seek security if re-investing personally Last minute protection is too late!

  9. Marketing (1) • Increase in competition from both old and new businesses • Find clients unique selling point (USP) • Extend reach into new markets

  10. Marketing (2) Regular market sector & competitor analysis Always need to stay ahead of the competition Can any of your clients help each other?

  11. Management Accounts How many of accountants currently do management accounts? Is there benefit to management accounts? Is the pricing different to annual accounts?

  12. Benefits of Management Accounts • Keep a closer eye on the cash flow • Spot any issues early • Create a closer relationship with clients

  13. Cash flow indicators There is an inherent lag between an underlying problem and evidence of it showing up in cash flow

  14. Cash flow indicators • Drawing dividends v drawing a salary • Year end review of director’s loan account position

  15. Cash flow indicators Directors/shareholders constantly propping up the company personally

  16. Cash flow indicators • Threat of legal action or steps taken by creditors to collect unpaid debts • We expect businesses to become less patient as the marketplace picks up

  17. Cash flow indicators • Constant reliance on the company’s overdraft • Need for funding for growth

  18. Cash flow indicators • Dealing with an employee dispute/tribunal

  19. Cash flow indicators-What you can do • May need to think for your client • Be pro-active • Stay informed

  20. Members’ Voluntary Liquidation Can be straightforward Tax advantages HMRC clearance Fast distribution

  21. HELPING YOUR CLIENTS OUT OF RECESSION 27 MARCH 2014 BY Richard F Simms FCA

More Related