This document provides information on bookkeeping and financial management for entrepreneurs. It discusses the roles of bookkeepers, accountants, and tax advisors. It also outlines common business transactions and stakeholders. Examples are given of different types of businesses and their typical financial transactions. The importance of delegating bookkeeping tasks and focusing on core business activities is emphasized. Metrics for evaluating business performance are also presented.

1. Prepared for CoCoon
Hong Kong, March 2013
BOOKKEEPING
APPRECIATION

2. LAUNCH YOUR
BIG IDEA
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3. FINANCIAL + JUDICIAL
RESPONSIBILITIES
Download
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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. AWAKEN
YOUR
INNER CFO

7. #CAAA
AASH
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8. ENTREPRENEURS
ARE CREATIVE
I love
customers
I love talking
about my idea
All I want to do is
make product
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9. AWAKEN
THE CFO
Establish a
budget
Setup a finance
email address
The money
belongs to the
company
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10. MEET YOUR
OPPONENTS
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11. SETUP A CFO
AVATAR
PEACEFUL AGGRESSIVE
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12. 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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13. ANALYSE 3 TYPES
OF BUSINESSES
Consulting business
Restaurant business
App store business
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14. 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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15. 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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16. 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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17. 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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18. TIME TO GET A
BOOKKEEPER

19. COMPLICATED
OPERATIONS
Payroll
Inventory
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20. IT IS TIME TO GET A
BOOKKEEPER
Honey, shouldn’t
you delegate that?
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21. 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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22. FOCUS ON WHAT
YOU LOVE
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23. INCREASE YOUR
FINANCIAL ACUMEN
Revenue over time and
sales projection
Download
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/services/bookkeeping-
service/bookkeeping-
retainer
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24. INCREASE YOUR
FINANCIAL ACUMEN
Net profit over time
and projection
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25. INCREASE YOUR
FINANCIAL ACUMEN
Score entrepreneurs
performance
Download
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26. METRICS
Cost per
click
Daily Active
Users (DUA)
Cost of
acquisition
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27. ABOUT US
@futureb00ks
www.futurebooks.com.hk
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28. TERMS OF USE
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