ANDREW FORBES

Not-for-profit organisation offering rural and small business financial counselling services to those facing economic hardship and lacking small business financial literacy.

Achievements:
• Pivotal in developing and delivering a workshop series aimed at educating sole traders on the Australian
Taxation System to address issues emanating from a lack of understanding. This effort was carried out in
collaboration with the Ipswich City Council Economic Development team and The Griffith Tax Clinic, and the
workshops were well attended. Feedback obtained from participants indicated that the information provided
was highly impactful and crucially needed.
• Supported over 70 small business owners facing financial hardship or business concerns by providing a
confidential avenue to discuss issues, completing various financial analysis activities to understand the issues,
and offering an objective third-party view of options available.

Financial Counsellor deliverables:
• Support financially vulnerable small business clientele by explaining their situation simplistically to assist them
in understanding their business financial issues while empowering them to make informed decisions.
• Analyse available and regularly incomplete financial information and problem-solve to assess business viability
and options for recovery or exit.
• Educate clientele on small business finance concepts, from balance sheet balancing to how profit and loss
statements operate and what type of regular financial transactions create entries for each.
• Inform sole trader drawings are not expenses and do not appear on the profit and loss statement, a common
misconception in small businesses.
• Formulate cash flow forecast models with visual representations of financial situations for assessing client
viability and debt repayment capacity.
• Stakeholder collaboration to promote services and identify opportunity scope for regional small business
support.

Achievements:
• Generated a monthly savings of $400 by identifying an alternative payment method option for EFTPOS
transaction fees, which were close to 2% of turnover after analysing the business profit and loss statement.
• Assisted in the implementation of a cloud-based accounting program for accurate financial record keeping.
• Developed invoicing and banking processes. Trained the business owner for increased daily financial business
management.

Mid-sized charity serving farmers and rural communities in disaster recovery, community resilience and well-being.

Achievements:
• Overhauled the financial accounting program and accelerated strategic planning and analysis by reducing daily
repetitive tasks by developing bank rules to code regular transactions.
• Increased user compliance by modernising corporate financial forms for improved user experience.
• Participated in commercial opportunity workshops, which resulted in Rural Aid objectives being redefined and
a strategy formed to pursue a commercial opportunity to increase and safeguard revenues.

Key deliverables:
• Undertaken a varied finance and accounting role, with duties ranging from accounts receivable to accounts
payable. Managed and reconciled corporate credit cards, month-end journals, and account reconciliations.
• Performed donation receipting and uploaded and reconciled bank transactions.
• Educated the broader team on financial and commercial matters for increased team knowledge.

Small business specialised in sourcing, selling, and managing thoroughbred racehorses.

Achievements:

• Streamlined financial statement production and tax reporting, allowing greater visibility of finances for
  decision-making by transitioning bookkeeping from Microsoft Excel to Xero Online.
• Built processes and structure around the company's financial management, resulting in increased consistency
  and professional handling of economic matters with customers, enabling the business to meet its financial
  reporting, taxation, and industry regulatory obligations.

Key deliverables:

• Acquired broad accounting, bookkeeping and financial administration experience whilst undertaking duties. Performed financial analysis and completed asset acquisition budgets and scenario cash flow forecasting to inform purchasing decisions, this resulted in the company having clear guidelines on spending limits and cash flow impacts of planned trading stock purchases.
• Researched ASIC class orders and industry-relevant legislation.
• Created annual budgets and completed monthly analysis of actual performance against budget which included providing commentary for monthly Director meetings. Insights allowed Directors to make decisions and implement changes in a timely fashion.
• Completed journal entries, and processed accounts payable and accounts receivable transactions, reconciliations, and BAS Lodgements.