We can teach bookkeeping techniques, tips and technology, but if you don't like numbers, you'll never do your books. It turns out producing a website is much like a producing a set of books. At different stages in the factory, different people add value. In web development you have project managers, designers, UI consultants and developers. Accounting is no different. We just have a different set of people who are contributing. We have a bookkeeper, accountant, tax advisor, auditor and a company secretary. Some start-ups make revenue in year-one. However, even if you don't have revenue to count, you can count customers, and you can count you expenditure to make sure you are keeping in budget. There are answers in the numbers. If you analysis your company's management accounts every month, it can teach you insights about your product and services. Learn more. Visit http://futurebooks.com.sg/blog/bookkeeping-appreciation-with-the-founder-institute/4109

1. Prepared for Founder
Institute Singapore,
June 2012.
BOOKKEEPING
APPRECIATION

2. ABOUT US
@futureb00ks
www.futurebooks.com.sg
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3. FINANCIAL + JUDICIAL
RESPONSIBILITIES
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4. ACCOUNTS ARE A
SAUSAGE FACTORY
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5. ACCOUNTS ARE A
SAUSAGE FACTORY
Bookkeeper makes
management accounts
Accountant makes annual
financial accounts
Tax advisor makes the
tax computation
Corporate secretary holds
the AGM and files reports
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6. TIMELINE
Annual financial
accounts
Management
Incorporation DIY bookkeeping accounts
MONTHS 0 6 12 18
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7. AWAKEN
YOU INNER
CFO

8. #CAAA
AASH
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9. ENTREPRENEURS
ARE CREATIVE
I love
customers
I love talking
about my idea
All I want to do is
make product
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10. AWAKEN
THE CFO
Establish a
budget
Setup a finance
email address
The money
belongs to the
company
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11. MEET YOUR
OPPONENTS
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12. SETUP A CFO
AVATAR
PEACEFUL AGGRESSIVE
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13. IDENTIFY YOUR
STAKEHOLDERS
Transaction type Stakeholders Risk
Accounts receivable Customers Default on
(AR) payment
Cash payments (Cash) Customers Security
Accounts payable (AP) Suppliers Cashflow
Payroll Staff + Government Penalties and
(IRAS + MOM) staff turnover
GST Government (IRAS) Penalties
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14. ANALYSE 3 TYPES
OF BUSINESSES
Consulting business
Restaurant business
App store business
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15. IDENTIFY YOUR
STAKEHOLDERS
Consulting business (B2B)
220
#Cash, 2 TRANSACTIONS
Payroll,
20
GST,
20
AR, Stakeholder:
80 customer
AP (fixed),
50
AP (variable),
50
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16. IDENTIFY YOUR
STAKEHOLDERS
Restaurant business (B2C)
450
Stakeholder: TRANSACTIONS
staff + Govt
Payroll,
60 #Cash,
90
Stakeholder:
GST, AR, 10
Govt. 50
AP (fixed), Stakeholder:
50
suppliers
AP (variable),
200
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17. IDENTIFY YOUR
STAKEHOLDERS
App store business (B2C)
GST, 10 Payroll, 100 1500
TRANSACTIONS
AP (fixed), 30
Stakeholder:
staff
AP (variable),
150
AR, 10
#Cash,
1,000
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18. TRANSACTION
COMPARISON
Payroll
GST App store
Restaurant
AP (fixed)
Consulting
AP (variable)
AR
Cash
0 100 200 300 400 500 600
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19. TIME TO GET A
BOOKKEEPER

20. COMPLICATED
OPERATIONS
Quarterly GST filing
Monthly CPF
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21. IT IS TIME TO GET A
BOOKKEEPER
Honey, shouldn’t
you delegate that?
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22. VALUE OF TIME
Satisfied customers Dissatisfied customers
wanted $21 reward wanted $60 reward for
for waiting. waiting.
http://www.acrwebsite.org/volumes/display.asp?id=11176
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23. FOCUS ON WHAT
YOU LOVE
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24. INCREASE YOUR
FINANCIAL ACUMEN
Revenue over time and
sales projection
Download
http://futurebooks.com.sg
/services/bookkeeping-
service/bookkeeping-
retainer
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25. INCREASE YOUR
FINANCIAL ACUMEN
Net profit over time
and projection
Download
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26. INCREASE YOUR
FINANCIAL ACUMEN
Score entrepreneurs
performance
Download
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27. METRICS
Cost per
click
Daily Active
Users (DUA)
Cost of
acquisition
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28. ABOUT US
@futureb00ks
www.futurebooks.com.sg
www.futurebooks.com.sg

29. TERMS OF USE
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