SPECIAL OFFER!
Most business owners pay their accountants and bookkeepers large sums of money to prepare financial statements. These are the annual Trading, Profit and Loss Statements and Balance Sheets. For many businesses they are primarily used to prepare tax returns. That is to justify payments out of the business to the ATO. Debt solutions come in part from lowering payments and increasing receipts.
Once the money has been spent on preparing these financial statements, they might just as well be used to provide the most acceptable debt solutions.
GBAC Advisory has been able develop a variety of debt solutions for Australian family businesses and farms by analysing financial statements to discover what they reveal. Then we use that information to examine budgets and prepare our cases to be put to the bank, other potential lenders and first of all, to the borrowers themselves.
Many business people hate figures, but for accountants the figures reveal information in the same way as a blood test does for a pathologist or doctor.
Sometimes business owners avoid professional advice because of the cost. As a business owner myself, as well as a professional accountant, I share that hesitation. Every expense has to produce a lot more money than is paid out. We call that ROI or Return On Investment. We like to think that most of our clients get a 1,000% return on the fees they pay us.
To encourage better use of financial data already prepared for tax returns, this month we are therefore offering a
FREE financial analysis of the 2019 financial statements with sample 2020 budget based on them for modification by owners.
As we are a small firm that has been consulting nationally for decades we could only manage the extra work by limiting it to the first 15 business owners to provide us with their early draft 2019 figures.