https://foxtonfinancial.com.au/service/administration/

1



Why administration services are crucial for a
company
2

• Understanding financial administration is one of
  the most important aspects of running a business.
  A company requires financial administration
  services to serve all of its interests as it is
  the process of organising or helping to achieve
  the companys goals.
• According to Liang Gie, financial administration
  is also using money in any cooperative effort to
  achieve goals. The process involves bookkeeping,
  budgeting and financial auditing functions. It is
  done to manage functions in an orderly, legal,
  efficient and effective manner.

3
(No Transcript)
4

• Functions of financial administration.
• Investments
• Profit sharing
• Drafting a financial budget
• Managing company finances
• Performing financial analysis.

5

• Investments
• Long-term investments are the company's greatest
  assets and they can be used for the company's
  future needs. These need to manage and organised
  well to be an investment rather than a mistake.
  Short-term investments on the other hand are low
  value but will still have to be organised and
  managed to contribute to the companys finances.

6

• Profit sharing
• Making purchases or debts for the company is the
  financial administrator's job. Proper
  administration service is a necessity to spend
  wisely for the company as a tiny mishap can cause
  the company to be in debt.

7

• Drafting a financial budget
• Revenue, Payments and expenses of a company
  depend on the financial budget of the company.

8

• Managing company finances
• Reporting withdrawals or deposits. Opening
  accounts, calculating the number of funds
  deposited and recording all company transactions.

9

• Performing financial analysis
• Issuing financial documents and invoices and
  collecting payments.
• Financial Administration is crucial for a company
  as it carries out functions like Liaising with
  the ATO and external parties on your behalf,
  Documentation preparation, including liaising
  with lawyers for legal documents, Liaising with
  external parties etc. Therefore, before starting
  a business, make sure to form a well-functioning
  administrative team.

10

• THANK YOU

Presented By, Financial Services Canberra