Workplace Mentor Unashamedly Ethical

 I   m u s t   b e   a b o u t   m y  
 F a t h e r ' s   b u s i n e s s 

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Mike Smith

Product Offering to Business

Financial Management

Non-financial managers often feel frustrated because they do not understand the language of business.  Many managers, at one time or another, who do not have a financial background, experience difficulty in coming to grips with the financial aspects of a business problem, or in communicating with financial people like accountants. In addition it is difficult for managers to manage costs if they do not understand exactly what costs are, how they behave and how they have been allocated.

This deficiency will be dealt with under the following three main headings, with the resulting outcomes:

  • Financial Performance
    Use of KPI’s (Key Performance Indicators)
    Monitoring of working capital cycle
    Long range financial plans
    Suitable budget setting procedures
    Monitoring and adherence to budgets
    Profitability analysis of major contracts/product lines
  • Reporting
    Month end closing process
    Reporting packages
    Timely reporting of accounting information
    Adequate review of accounting information
    Reports not utilized effectively
    Reports not designed effectively
  • Managing Resources
    Cost behaviour
    Cost classification
    Cost allocation
    Cost calculations
    Costs and budgets
  • Outcomes
    Confidently read and understand financial reports
    Understand the difference between cash and profit
    Become financially literate
    Understand the framework that accountants use to prepare financial statements
    Find out how much your business is worth

Control Environment Review


  • Risk Assessment process
    The regularity of reviews of systems to identify risks
    The direction of these reviews
    The methods used to evaluate these areas
    implementation of changes
    The evaluation of the result of the process 
  • Control Environment
    Expectations of management and staff
    Communication of these expectations
    A defined organizational structure
    The proper use of this structure
    Evidence of strong teamwork
    Turnover of staff
    The level of skills being utilised
    The level of overtime hours worked
    The level of sick days taken 
  • Information and Communication system
    The quality of information processed and transferred
    The adequacy of communication channels
    The timeous dispatch of information 
  • Control Activities
    Management procedures to enable them to realize the entity’s objectives
    The communication of these to staff
    The ability to combine operating reports with financial reports
    The supervision of control activities
    The adherence to laws and regulations
    The constant review and revision of procedures implemented for the capture of data and the reports generated from it
    The procedures implemented by the management to control the risk of fraud or mismanagement of the entity’s resources 
  • Monitoring
    The regular review of performance against the targets set for the entity
    Constant revision of the objectives
    Constant review of the effectiveness of the controls in place
    Adequate procedures for the highlighting of identified weaknesses or proposed improvements in the controls
    Adequate procedures for following up on those weaknesses

Mentorship Project

In conjunction with the Nelson Mandela Bay Business Chamber (NMBBC), I am managing a Mentorship Project, which has as its aim the provision of mentoring services to small and medium businesses. (See Appendix 1)

Mentoring Christians in Business they own

I will be offering the products indicated in the first section, with the addition of spiritual factors which will, I believe, multiply the effectiveness of the people and hence profitability and impact on the economy. (See Appendix 2)


 CK 2006/003609/23 
     Member: MD Smith CA(SA) 

I   m u s t   b e   a b o u t   m y   F a t h e r ' s   b u s i n e s s
L U K E   2 : 4 9

 

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