Created in October 2020, this is a forum for Riverina-based manufacturers. More information on the forum and forum events will arrive soon.
The aims of the forum are to:
- Deliver contemporary information on Government-led economic stimulus for manufacturers
- Share information on modern manufacturing strategies
- Provide a vehicle for manufacturers across the region to meet and share ideas, knowledge, and business intelligence
Financial Modelling in Excel
A highly empowering, self-paced series of videos specifically directed at SME business owners. The purpose of the series is to provide you with the skills and understanding you’ll need to develop a practical business finance model in Excel. Even a simple model can be very powerful and you don’t need an accounting degree to put one together. It’s self-paced so you can watch when you have time and revisit parts if you need to. The series is split into 5 parts and by the end, the series will provide you with a good basis to understand:
- The basics of Excel
- Simple Financial statements
- How to build and maintain a financial model of your business
Watch the Introduction to this series here.
Part 1 – Excel Basics
Part 1 looks at the basics of Excel, from opening and saving a file to what a cell is, using formulas, and more. Even if you are a seasoned user you’ll know that there are many ways to do the same thing in Excel. If you’re already a confident excel user or simply can’t spend the time, you can skip to part 2.
Part 2 – What is a Business Model?
Part 2 steps through the fundamentals of what makes a business model. You’ll look at the basic terms of accounting (revenue, expenses, fixed and variable costs, etc) and put them into everyday language with some worked examples, and introduce a basic model.
Part 3 – Fact Finding
Part 3 delves into the process of sourcing information about your business. Where should you look for all the information you need? We’ll introduce the concept of a “data vault”, which is somewhere to store all the bits and pieces of information you’ll need to compile your model and make it specific to your business. Then we’ll look at how you link information in different formats (for example litres of milk to cups of coffee) and subsequently attribute costs to products.
Part 4 – Cashflow
Part 4 is a brief look at cashflow modelling. Where is all your money going!?
Cash flow management records all the cash coming in and out of your business over a fixed period, which then allows you to make predictions about the future and track your performance against those predictions. You can get ready for lean times before they hit and more importantly, show when you’ll be flush!
Part 5 – Price Modelling
Linking the cost of production, overheads, pricing, and sales volume to revenues and predicting net profits. You can then use your model to look at the effects of changes to pricing, cost of ingredients and materials, labour, etc. It will give you the power to confidently deal with change.
Other Webinars & Events
Check out our Webinars & Events page for upcoming events that may be useful to you.
For more information on the RIverina Manufacturers’ Forum please contact:
Chris McKee MBA
Business Advisor – BEC Business Advice
T: 0460 028 753