Having extensive experience working with business owners in the pharmacy, construction & professional services industries, positions us as a leading firm in the delivery of premium strategic business advice. We provide ongoing support and advice, specifically tailored to your business, to challenge your thinking, offer alternative direction and identify key growth and performance opportunities.
- Business Performance Management
- Our team partner with you in positioning your business for growth, giving you the greatest opportunity to fulfill your vision and in turn, improve your investment. This is a seamless approach to improvement intended to inform and educate you on the critical elements of your business.
- Business & Investment Structuring
- In simple terms, we help our clients’ setup and actively manage their business and investments through appropriate vehicles to mitigate risk and ensure success.
- Corporate Advisory
- Growing a business is a journey and our corporate advisory services are designed to partner you in that journey to ensure your business is positioned to capitalise on opportunities. It is a bespoke service to enhance shareholder value through connecting you with professionals providing practical, hands on assistance to Boards, CEO’s and Senior Management.
- Business & Strategic Planning
- Our strategic planning services are intended for business that aspires to improve operational or financial performance and preserve or enhance shareholder value. We adopt a facilitated approach and drive a positive strategy to ensure further growth and development of the business, irrespective of the life-cycle positioning.
- Pharmacy Business Navigator Program
- As a Pharmacy owner or operator do you truly understand the strategic financial and non-financial indicators for the health of your business? Do you spend too much time in day to day menial tasks and not enough time working on the key performance elements and strategic direction for your business? The GFA Strategic Accountants Pharmacy Business Navigator Program was created to assist Pharmacy owners and operators to gain a greater understanding of those things in their business that, with little tweaks and changes, can have a dramatic affect on business performance and ultimately the value of the asset.
- Specialist Tax Advice
- The complexity of modern day tax legislation and its fast pace of change means that managing and navigating tax issues is critical to business continuity. Though our network of professionals we are positioned to provide cutting edge, practical and business orientated advice on specialist tax matters to facilitate ongoing compliance and mitigate business risk.
- Tax & Compliance
- We are here to manage your accounting and tax obligations in the most timely and professional manner. We understand tax and appreciate business, so we manage your statutory obligations so you can get on with running your business.
Our CFO Program allows you to access the knowledge and expertise of an external or virtual CFO when you need to. This Program provides you with specialised financial management advice and support to build an industry benchmark performing business in a way that is tailored to suit your budget.
The Program supports you on the critical financial elements of running a successful business including growing sales, managing key operating costs and improving profit and cash flow.
The key outcome is to provide you with accurate financial information and reports in a timely and affordable way, so you can focus on growing your business.
We offer flexible pricing models so you choose and pay for the agreed time and service options.
THE CFO PROGRAM INCLUDES
- Accurate Financial Reporting
- Create customised reports that tell you how your business is truly performing - the good, the bad and the ugly.
- Annual Budgeting and Forecasting
- Ensure your business is operating within its means by preparing and regularly monitoring annual Profit and Loss, Cash Flow Budgets and Forecasts.
- Benchmarking and Key Performance Indicator (KPIs)
- Pin point your business strengths and weaknesses by using industry benchmarking information. The CFO uses KPI ratio analysis to identify your best opportunities for business improvement.
- Regular Meetings
- You decide how the CFO interacts with you and your team. We combine face to face meetings, webinars and conference calls to discuss:
- Profit and Loss and Cash Flow variances;
- Benchmarking and KPIs results;
- Implementing improvement strategies and action plans.
- Access to Specialists
- If needed, we can call upon other experts for specialist advice in human resources, IT, marketing, legal or other areas.
- Goals and Action Plans
- The CFO can support you to develop and then implement a formal Action Plan that makes your team accountable for delivery.
GROW YOUR BUSINESS BY TAKING CONTROL OF KEY FINANCIAL INDICATORS
Our CFO Program can give you peace of mind that you have the right information to make informed decisions about your business. Talk to us about the right package for you and your budget.
GFA Strategic Accountants offers a comprehensive Self Managed Super Fund (SMSF) solution.
As part of our service offering we assist with specialist SMSF advice, technical support, consulting, trustee education and training.
- Allan Godbee is a Limited Authorised Representative 1246229 of GPS Wealth Ltd| ABN 17005482726 | Australian Financial Services Licence Number 254544
GFA (Gold Coast) Pty Ltd trading as GFA Strategic Accountants ABN 78 168 261 416 is a Corporate Authorised Representative (No.001246138) of GPS Wealth Ltd. ABN 17005482726, Australian Financial Services Licence Number 254544.
GPS Wealth Ltd | ABN 17005482726 | AFSL 254 544
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- General Advice Warning:
- The information contained on this web page has been provided as general advice only. The contents have been prepared without taking account of your objectives, financial situation or needs. You should, before you make any decision regarding any information, strategies or products mentioned on this website, consult your own financial advisor to consider whether that is appropriate having regard to your own objectives, financial situation and needs.
Whilst GFA (Gold Coast) Pty Ltd is of the view the contents of this webpage is based on information which is believed to be reliable, its accuracy and completeness are not guaranteed and no warranty of accuracy or reliability is given or implied and no responsibility for any loss or damage arising in any way for any representation, act or omission is accepted by GFA (Gold Coast) Pty Ltd or GPS Wealth Ltd or any o?cer, agent or employee of GFA (Gold Coast) Pty Ltd or GPS Wealth Ltd.
- The information contained on this web page has been provided as general advice only. The contents have been prepared without taking account of your objectives, financial situation or needs. You should, before you make any decision regarding any information, strategies or products mentioned on this website, consult your own financial advisor to consider whether that is appropriate having regard to your own objectives, financial situation and needs.
The world and specifically the business world is changing at a pace never seen before. Jobs or industries that have been around for many years previously in some cases are now superseded overnight. Never before has there been a time where business owners can’t rest on their laurels, they need to adapt, to change and to have an intimate understanding of their clients, competitors and their market. Knowing your business, knowing your market and knowing your competitors is critical, the GFA 4 Pillars SMP is a platform to help you keep abreast of all of these areas to ensure you manage the long and bumpy road that is being a business owner in these days and times.
So what is the GFA 4 Pillars SMP? As it suggests our program is made up of 4 key pillars that will help you, the business owner, and us as your Accountant, to develop the key strategies that are needed for your business to survive and thrive, to have the support in place to help you make the right short, medium and long term decisions, ensuring we have the most up to date and accurate figures to aid in the decision-making process, and then a platform or board to ensure accountability and commitment to the strategic plan.
Of course, we also ensure your compliance and tax requirements are all being met, but the 4 Pillars program offers so much more than just standard compliance, it’s a framework for your business success. It really is the difference between the services offered by a good Accountant to those of a great Accountant.
Although each component of the GFA 4 Pillars SMP can be implemented in its own right, to gain the full value as a business it is optimal to engage us to deliver the complete plan as they all dovetail together, with the sum of the parts offering incrementally more power to a business.
Pillar 1 – Strategic Planning
Pillar 2 – Effective Bookkeeping
Pillar 3 – Virtual CFO
Pillar 4 – Board Of Advice
- Pillar 1 – Strategic Planning
- Pillar 1 is all about working together to help business owners have a clear and concise understanding of the business they are in and the market they operate within. We undertake a review using industry benchmarking to compare the key performance indicators of their peers along with their own expectations. This process identifies potential gaps and we then work together to bridge those gaps with the establishment of key initiatives to implement within the business. We look at where they are now and where they want to be and ensure that their business is structured appropriately for tax efficiency and their assets protected.
In most instances, we undertake a current view – 1 year plan – 5 year plan, looking at what resources, capital and growth opportunities they currently have and then we forecast what cashflows, systems, staff and processes will be needed to reach the 1 year and 5-year goals.
As part of this process we apply the RAVDA Tool which analyses the Risk & Value Drivers of the business. RAVDA is a very powerful benchmarking tool that specifically identifies current and future business value predictions and potential risks in an ongoing basis and allows us to tweak specific levers within the business to ensure that the short to medium term goals are being met and the business is growing to the forecasted plan.
- Pillar 1 is all about working together to help business owners have a clear and concise understanding of the business they are in and the market they operate within. We undertake a review using industry benchmarking to compare the key performance indicators of their peers along with their own expectations. This process identifies potential gaps and we then work together to bridge those gaps with the establishment of key initiatives to implement within the business. We look at where they are now and where they want to be and ensure that their business is structured appropriately for tax efficiency and their assets protected.
- Pillar 2 – Effective Bookkeeping
- Although not the normal realm or service offering of your Accountant, bookkeeping or accurate bookkeeping is critical to the GFA 4 Pillars SMP and offered within the program. Key decisions are made based on the numbers, so timely and accurate provision of numbers is critical to ensure the current and future success of the business, particularly when overseen within the GFA 4 Pillars SMP. We see many instances where inaccurate bookkeeping has led to the downfall of businesses, and its also our role as part of the GFA 4 Pillars SMP to manage your bookkeeping service whether provided as part of our program or managed In conjunction with an existing internal or external resource.
- Pillar 3 – Virtual CFO
- Many small to medium-size businesses can’t afford a full-time CFO, and that’s where the Virtual CFO offers all you would expect of a fulltime resource but without the cost and in most instances engaging with a senior-level professional with CFO experience.
In the GFA 4 Pillars SMP the role of the virtual CFO is to manage the numbers. The CFO manages a GANT Chart specific to the owners business, and is responsible for ensuring that the numbers are accurate and timely, and that key projects and strategies are in place and being met according to the chart. As part of the process, a 3-way forecast is established focussed on budgets, benchmarks and KPI’s and business analysis is performed monthly purely based on the numbers or financials.
The Virtual CFO relies heavily upon the reporting of the actuals from the bookkeeper as key decisions are made and levers are adjusted based on the actual financial performance as outlined in the GANT Chart and 3 way forecast. Their role is to also undertake, monitor and manage annual compliance requirements and liaison with the ATO in regards any audit requirements.
- Many small to medium-size businesses can’t afford a full-time CFO, and that’s where the Virtual CFO offers all you would expect of a fulltime resource but without the cost and in most instances engaging with a senior-level professional with CFO experience.
- Pillar 4 – Board Of Advice
- The Board Of Advice element of the GFA 4 Pillars SMP basically evolves around support and accountability. Your Advisor meets with you regularly to review the Strategic Plan, to compare against the current and forecasted performance, to offer an independent set of eyes and ears with unbiased insight or feedback and to then assist with key decision making that aligns with the overall plan. The Board Of Advice may also include relevant external parties introduced as needed such as lawyers, finance brokers, financial planners, IT Experts and all identified as a resource needed to bridge a certain gap in the overall business plan.
The key though is accountability, with regular scheduled meetings ensuring that the business owner, their staff and your Advisor are all delivering to the agreed plans. We all know that in business you find yourself too busy in the business to work on the business, but it’s critical as the owner or General Manager to find the time to pull yourself away and to work on your business with your Advisor.
The GFA 4 Pillars Strategic Management Plan is a very powerful tool or set of tools that can assist any business in gaining a greater understanding of the key drivers of their business, along with the levers that can be adjusted to ensure optimal financial performance is met and goals achieved.
- The Board Of Advice element of the GFA 4 Pillars SMP basically evolves around support and accountability. Your Advisor meets with you regularly to review the Strategic Plan, to compare against the current and forecasted performance, to offer an independent set of eyes and ears with unbiased insight or feedback and to then assist with key decision making that aligns with the overall plan. The Board Of Advice may also include relevant external parties introduced as needed such as lawyers, finance brokers, financial planners, IT Experts and all identified as a resource needed to bridge a certain gap in the overall business plan.
To give you an insight into the power of the 4 Pillars SMP we’re offering a complimentary RAVDA assessment for any small to medium size business who wants to take greater control of their business. Call or email our office to book an appointment with one of our team members.
We uncover your legacy intent and facilitate its implementation.
Research shows that around 95% of estates suffer from a badly constructed or non-existent legacy plan. This is despite the best of intentions and established relationships with professional advisors.
This sizeable group is disadvantaged from a lack of a plan to suitably direct assets. This outcome has been measured to represent, on average, a low 18% Legacy Efficiency™. In other words, there is a risk that only 18% of your potential wealth will correctly transition in line with your intentions.
On the other end of the scale, only 1% of families have total security, simplicity and certainty in regards to the transfer of their legacy. Obviously, this special group who achieve 100% Legacy Efficiency™ provide a safe and confident outcome for their loved ones and beneficiaries.
So, how do you transition from the inefficient and unfortunate group at the bottom and elevate to the carefree, confident and abundant group at the top? That’s ‘The Missing Structure’.
We created The Peace of Mind Plan™, a five step process, to help maximise your Legacy Efficiency™. We will help to ensure that your legacy is honoured and that the right money goes to the right people at the right time.
Are you prepared for the inevitable? You and your family deserve peace of mind. For some thought promoting information refer to our easy to answer questionnaire.
As a Pharmacy owner or operator do you truly understand the strategic financial and non-financial indicators for the health of your business? Do you spend too much time in day to day menial tasks and not enough time working on the key performance elements and strategic direction for your business? The Godbee Favero Pharmacy Business Navigator Program was created to assist Pharmacy owners and operators to gain a greater understanding of those things in their business that, with little tweaks and changes, can have a dramatic affect on business performance and ultimately the value of the asset.
We have identified a selection of key financial and non-financial triggers that when analysed, reviewed and managed regularly, can provide greater control and understanding for owners and operators of successful Pharmacies.
What is the Pharmacy Business Navigator Program?
The Pharmacy Business Navigator Program is a great business intelligence offering that helps you find answers to critical business questions.
Who is it for?
The Pharmacy Business Navigator Program is useful for any pharmacy that wishes to monitor, measure & improve business performance. We help you transform your accounting data into insightful, visual & meaningful reports and dashboards.
Gain deeper insights
We provide you with a suite of in-depth analysis and metrics bespoke to your industry which help you see exactly how well your business is performing. These tools and metrics help to assess profitability, cash flow, growth and other key performance indicators.
Strategise where it counts!
The Pharmacy Business Navigator Program alerts you to focus on the perspectives that count. It assists with understanding your business and the strategic direction you need to take.
Gain transparency over:
• Profitability
• Efficiency
• Cash Flow
• Growth
Where is the cash?
Gain answers to the critical questions!
• Where has my cash gone?
• What’s left to invest?
• How much debt have I paid down?
• How can I improve this?
We understand the importance of your financial legacy, which you’ve worked hard to create. We adopt a holistic approach to managing and protecting this legacy, providing you peace of mind and ensuring your beneficiaries and their interests are protected.
- Are you prepared for the inevitable? We have an easy to answer questionnaire to help you think it through.
- Ask us about our Peace of Mind Plan™
