What Does The Word Astrape Mean?

Astrape pronounced (AS-STRAP-PAY) is a Greek word which is translated as:

“Light shining" (of the gleam of the lamp).

Our Mission

Astrape Finance aims to create a community of persons and businesses

that understand the tenets of financial management and are able to

execute clear and sound corporate and personal finance plans for growth.

Online Presence

Facebookwww.facebook.com/AstrapeFinance Twitterwww.twitter.com/MelindaLBelle Websitewww.astrapefinance.com

Online Presence

Company Bloghttp://astrapefinance.wordpress.com

Founder’s Personal Bloghttp://everydayfinancial.wordpress.com

Emailmelinda@astrapefinance.com

Founder’s Bio

• Barbadian by Birth

• Attended the Alexandra Secondary School then transitioned to Harrison College (1994-1999)

• Attended the Barbados Community College and obtained an Associate Degree in Computer Studies (1999-2001)

Founder’s Bio

• Graduated from UWI Cave Hill with a BSc. Computer Studies & Management (Double Major, 2001-2004)

• Possesses seven years of experience in the accounting field, five of which were gained in the offshore banking sector

• Acquired a Certificate in Counselling from the Barbados Wesleyan District

Founder’s Bio

• Is a teacher at heart

• Has been the Founder and Financial Consultant for the past year and seven months (and counting!)

FINANCIAL STRATEGIES 2013

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Explore Financial Strategies that Will Boost Efficiency for

2013 and Beyond

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How Financial Strategies Boost Efficiency in Your Company

Track your company’s financial activities

- Cash flow - How much you own- How much you owe- How much income you make- How much expenses you incur

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How Financial Strategies Boost Efficiency in Your Company

Track your company’s financial activities

- How much you make (or lose)- How much do clients owe you- How much you owe for taxes- How much do you have to pay for

salaries

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Financial Strategy #1

Set Up An Accounting System

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Accounting System

A tailor- made system, suitable to record the financial transactions of

your business.

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Book Based

Cash Journal Used to record cash transactions

Purchases Journal Used to record purchases

Sales JournalUsed to record sales

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Software Based

- Quickbooks- Accpacc- Microsoft Excel

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Key Accounting System Tasks

- Bookkeeping- Reconciling- Accounting

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Bookkeeping

The process of recording daily transactions of the business into books of accounts or accounting

software or both.

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Reconciling

The process of balancing your books to reflect the correct financial picture

of your company.

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Accounting

Using the information entered and presenting it in the form of financial

statements.

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Financial Statements

- Income Statement - Balance Sheet- Cash Flow Statement

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Income Statement

Comprises the following:

Revenues – Sales

Expenses – Rent, Utilities, Salaries

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Income Statement

Shows your Net Income

Net Income = Revenues > Expenses

Shows your Net Loss

Net Loss = Expenses > Revenues

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Balance Sheet

Comprises the following

What you own and Who owes you: AssetsE.g. Equipment, Cash, Accounts

Receivable

What and Who you owe: LiabilitiesE.g. Accountable Payable, Loans

Money invested into the company: Equity

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Balance Sheet

Shows your financial position

Assets = Liabilities + Equities

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Cash Flow Statement

Statement used to monitor cash movements within the company:

- Operating activities- Investing activities- Financing activities

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Cash Flow Statement

Operating activities- Expenses

Investing activities- Purchase of equipment

Financing activities- Money invested by the owner of the

business or an investor

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Financial Strategy #2

Employ Financial Controls

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Financial Controls

Tools used to manage a company’s finances through planning and

performance evaluation.

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Financial Controls

- Budget- Reconciliation- Analysis of Financial Statements

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Budget

A Budget is a spending plan used to allocate money for specific purposes.

E.g. Rent, Salaries

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Reconciliations

- Petty Cash

- Cheque Book

- Bank Statement

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Analysis of Financial Statements

Make comparisons between financial years

- Determine if more or less money was spent over a specific period

- Determine if more or less money was made over a specific period

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Financial Strategy #3

Plan for Growth via Forecasting

Forecasting

A planning tool used to project future financial events.

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Future Events

- Sales- Expenses - Investments- Debt Repayments

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Financial Strategy #4

Be a Prudent Business Owner

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Step #1: Make a Plan

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Step #2: Be Patient

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Step #3:

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Be Persistent

The End

Thank You!