Financial Feasibility Analysis Course recommendations

Discussion in 'Accounting & Tax' started by Davidov, 1st Sep, 2020.

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  1. Davidov

    Davidov Active Member

    Joined:
    25th Jan, 2019
    Posts:
    29
    Location:
    NSW
    I run a labour hire business and naturally we do a lot of BAS and other types of accounting around tax and cashflow.

    I also do some property investment as well as shares trading.

    I was hoping to get a recommendation for a course or a hybrid of different subjects that I could study which will help me form a better understanding of our own payrolling, cashflow and BAS / Taxes and also help me get better at feasibility analysis and number crunching on different investment projects.

    What I am hoping to learn is:

    Get more technical with Excel and Xero software
    Get a better understanding of bookkeeping, business tax, profit & loss and balance sheets, how they work and the acronyms
    Become better in financial analysis and feasibility analysis of different projects


    I was hoping to do either one or combination of short courses at TAFE OR combination of subjects on an online university OR a third part education provider.

    Time is of essence as I work full time so I cant do full blown several years courses and I am not trying to become an accountant or bookkeeper for that matter, so really something that gets right to the point without going into too much details that I may not need.

    I would really appreciate it if you could provide some pointers in terms of colleges and courses that would be useful
     
  2. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,319
    Location:
    Sydney
    TAFE may be a start but it will cover generalised learning eg not Xero but general bookkeeping etc. It will educate you with skills and knowledge to apply this to any software or self calculations etc using tools like excel. Accounting knowledge is about understanding principles and teaching you in applying this. But if you dont want to be an accountant you are trying to learn to dance when you want to sit. A basic accounting degree will cost $30K - Ouch.

    I would think finding a decent bookkeeper and have them review your work regularly (monthly) and teach & correct you on the fly will be far faster and more cost effective than any applied learning. A "Excel for dummies" course is always useful.... Very useful. Even proficient excel users probably use 5% of what it can do. And then look for specific education concerning business admin and financial analysis : Open Universities Australia froma huge number of course providers. Subjects or a course.

    I once had a client approach me. He asked for what you want. In the end he realised he is better to focus on the high level stuff and leave the accounting and numbers to an accountant. He engaged us and we presented financial modelling and business plans to a number of well regarded business leaders. He started the original online shop that is now Coles Online. He made tens of millions. Another engaged me to assist in modelling a new stock broker firm. Later sold to a major bank for $180m.

    Look into mgsm : MGSM - Macquarie Business School - Macquarie University and a course like this :
    Finance for Non-Finance Managers Finance Short Course Sydney | Macquarie University
     
    Davidov likes this.
  3. Davidov

    Davidov Active Member

    Joined:
    25th Jan, 2019
    Posts:
    29
    Location:
    NSW
    Thank you, just to be clear, I am not trying to do our accounting. We have an accountant who is qualified to do that and I am not trying to replace his work.

    What we are trying to do is obviously try and understand whats happening within the business a bit better, understand the payrolling and BAS process better and also get more involved in feasibility study of different building projects. Understand how banks might be looking at our numbers to lend and so on.

    I only have enough time to do maybe one or two subjects per semester and I dont want to get involved in a highly prolonged and detailed course.

    I would just like to study enough so I have most of the basics and intermediate stuff covered in terms of my understanding and for advanced stuff I rely on a professional accountant.

    I have heard online universities where they let you pick and choose subjects are not bad in terms of getting right to the point. Is there anyone that might have experience with those at all? While TAFE is also very good, apparently they arnt offering some of their online courses at present and they tend to also be quite long given I only want to study 1 or 2 subjects per semester they may take years to finish.
     
  4. Mike A

    Mike A Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    2,656
    Location:
    UNIVERSE
    a financial modelling course would be best. i did Lance Rubin's course and was superb. Financial Modelling | Consulting | Advisory and Training Services - Model Citizn

    Wonderful for 3 way cashflow forecasting and understanding how to project out and exactly what the bank requires. Touch base with him. Course was about $3k AUD but worth every penny. Very practical. Tell him i referred you.
     

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