1. Financial Literacy Jenn Quinn Security Classification
To determine the classification and handling requirements of information we must consider the consequences resulting from inappropriate or unauthorised handling such as fines, fraud or damage to our reputation. More information is available on the Security and Fraud Hub on Max. 
Internal

2. If you don’t take it seriously, why should anyone else?
Why bother…….?
Lets you know where your business is & where it is heading
Assists monitoring of solvency, efficiency & productivity
Highlights problems or adverse trends
It’s YOUR MONEY.
If you don’t take it seriously, why should anyone else?
I know that when you run a business, it can be hard to find time to step back from the day to day running of your business to work on your business. Getting to grips with your financials is a great place to start.
SO WHY BOTHER
Once you understand how money works in your business ….
You will be able to identify trends in your performance so that you can see where your business is heading and Monitor productivity
It also highlights any problems, enabling you to take action early to get the business back on track

3. 82% of business failures are due to poor cashflow
69% of businesses are profitable when they fail
That’s why cashflow management is so important
[Practical exercise……..]
So lets take a little stock- take on where you are now – Page 2 & 3 and complete this short questionnaire 3

4. Lift Weight Thrust Drag Flight theory Profit Margin Inefficiencies
Sales
Operating Expenses

5. Business navigation – visual or instrument
Are you going by visual or instrument navigation. Problem when using visual is that you can disoriented and not see things as they really are. Reading the instruments gives you a true picture of whats going on.

6. Buckets – your P&L
Any time after 1 April you will be getting your financial information off to your accountant so that he can do your end of year accounts. The reason many business owners do this is because the Inland Revenue says they have to so that you can pay tax.
SLIDE
What do you do with your accounts when you get them back from your accountant. Do you analyse them or do you file them?
You are paying for these accounts, so is the money spent adding value to your business