Wealth management requires mastery of several different areas of expertise: law, taxation, insurance, real estate. Some choices are crucial; the economic situation is bad, and it is very important for any SME manager to be well advised. We now have a wealth management specialist for small and medium-sized businesses to answer your questions.
What is Wealth Management?
Each company must establish its balance sheet; it is a photograph of the company at a time T. On the one hand we have the assets: real estate, furniture and tools of work, vehicles, and receivables … The whole of the asset are your wealth. On the other hand, there is the liability, which the company owes: loans, supplier debts … The result of the balance sheet? What the company has less than what we owe. The life of the company revolves around this balance sheet. The role of the manager is to optimize both these data in order to find a balance, optimize its assets and improve its enrichment capabilities.
It is not so easy: even when the funds are sufficient it is necessary to make the right choices and to know well his company and its evolution. Wealth management requires extensive expertise in many different areas. For this, SME managers can call on professionals. The goal is to find an agreement between protection and optimization of assets.
Which Professionals can I turn to for Advice?
The development of a wealth management strategy is done on a case by case basis, its tailor-made! Managers can be accompanied by a multitude of specialized stakeholders, especially when selling or buying a business.
The accountant is the professional of business accounting. He edits the accounting documents and ensures the good financial health of the company. He assists and advises the company on finance, wealth management, taxation.
The tax specialist is the specialist in social law. He will defend the company vis-à-vis the tax administration and will assist the entrepreneur in the event of a tax audit. He is more specialized than a chartered accountant and has a useful perspective on the company.
The notary is the specialist of civil law. He deals with contracts and disputes related to their drafting. It is essential for large transactions like a sale, a purchase, a donation, a liquidation of estates.
The asset analyst specializes in the construction of a heritage audit and the implementation of a heritage optimization strategy. More developed companies can also turn to a private banker, portfolio manager, etc.
Which Methodology to Adopt to Optimize my Heritage?
Optimization of assets can be broken down into several essential steps. First, the overall analysis of the heritage situation, you have to know your company to know how to allocate your assets. The leader then defines his heritage objectives. It is important to prioritize and prioritize them in the short, medium or longer term. With the help of a professional, develop an appropriate heritage strategy.
How to Calculate SME Cost
In order to make the right decisions and allocate resources where profitability is strongest, a thorough understanding of the costs associated with its products and services is imperative. It is then possible to knowingly set sales prices that make money for the SME or discard products in its ranges if market prices are synonymous with recurring losses.
This book is timely to provide answers to entrepreneurs wanting to take in hand this truly strategic variable for the future of their business. And this is the goal of this writing: to inform the leaders of the main tools to evaluate the costs beyond any technical vocabulary. It is not a question here of trying to transform the decision-makers into accountants, but to provide them with the material necessary to feed their reflection and to integrate the essential reference points to exchange with women and men of art.
In Summary, the Parties Treated
What costs to set prices: full costs for non-segmented markets – Partial costs for segmented markets – Internal transfer price?
What costs to understand and measure performance: Rational allocation of fixed costs – Standards and variances – ABC method – Table of edge?
Reading the wording of each part, we understand that the approach is to start from the use of numbers: why do we want to calculate a cost? A practical pragmatic approach for a company manager or a managers, indeed, they are the true users of financial data seeking answers to specific management questions.
Even if it is not the first target, the accounting professionals will find in these pages, certainly a little less technical, but a return to the aims of their job and its contribution in the fundamental processes of the company.
A small point on the form: this collection adopts a small format “PUF”, pleasant to read, easy access and richly illustrated diagrams and other graphic representations. Many examples facilitate the understanding of the concepts implemented. Students will also appreciate the pedagogy adopted.