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Potential pitfalls for advisors and finance teams post COVID-19 in the ‘new normal’


In this 3 x one-hour webinars series, Nicholas Martin and Shaun McKinnon will share their insights into how businesses, thought-leading accountants and finance teams are responding to the post COVID-19 world.
Transitioning out of COVID-19, some businesses will thrive, some will tread water and, for some, the adverse impact won’t be realised until it’s too late, when the various concessions and moratoriums are unwound, exposing those businesses. Accountants need to think differently and develop new skills in assisting their clients through the COVID-19 re-boot and ‘out the other side’.

These 3, one-hour  webinars series cover how thought-leading accountants and finance teams are responding to the post COVID-19 world.

Session 1 – 
‘Reflections of COVID-19 lockdown’ – leveraging the learnings
ocash - ‘how long have we got?’
oforecasting – get the architecture right
oassess working capital quality and enhance it 
o‘push on’, ‘bow out gracefully’ or ‘hibernate’ – based on objective criteria
obalance sheet strength/weakness 
ocapital required for re-build phase - quantify accrued/deferred liabilities 
oenhance the business - new markets & critique customer relationships  

Negotiating key stakeholder support for the re-start, and ‘the other side’
oLandlord – landlord assessment tools
oBanks & financiers – good bank vs. bad bank
oSuppliers – what to expect
oWorkforce – unions, right-sizing, productivity assessment 
oATO 
oGovernment - Job-keeper, industry programs
 
Session 2 – The business re-boot
oplan & make informed decisions
othe re-boot plan – written plan with clear milestones, monitor & refine
oconsider – forward order book, supplier & workforce management 
othe risks – for business, owners, finance teams, advisors 
odealing with accrued/deferred liabilities accruing through lockdown
ocapital required for the re-build – quantify accrued/deferred liabilities & develop capital projection
okey stakeholder expectations and reporting protocols (landlords, banks, suppliers, workforce, ATO, etc.) during re-start and ‘the other side’
obenevolence will end - quantify the financial impact
ocreditor management - legacy creditors, ‘catch ups’, guarantees 
odevelop real-time post covid-19 monitoring tools – better than P&L
ocapital for the re-start – options,  alternate capital/finance
omonitor post covid-19 business changes and enhancements
oassessment of all options to recover / restructure

Session 3 – COVID-19 - A trigger to restructure: Options, Risks and Critical Considerations
orisks for advisors – protecting clients (external or board), e.g. negotiating with bank/supplier/ATO, related party funding, annual returns/declarations, audit – ‘new world’ going concern considerations
omonitoring the restart plan & contingency planning
otraditional metrics/KPIs aren’t enough, e.g. P&L
odesign relevant new KPIs – cash based, cash burn, cost coverage
owhat to do when the plan isn’t working
ocreditors – legacy & statutory ‘catch ups’ – director personal exposure
o‘bad bank’ – will be inevitable for some businesses
odirector protection – safe harbour, risking family assets, guarantees, insolvent trading moratorium will expire
oannual returns/solvency declaration - based on what criteria?
oRestructuring businesses experiencing financial stress – planning and tools


Delegates will be better equipped to advise their clients through COVID-19 business re-starts and on ‘the other side’ to: 

  • Describe an appropriate plan for the re-boot and ‘the other side’ 
  • Identify covid-19 legacy issues, capital management, cost base, creditor management, reporting to key stakeholders, ‘good customers’, etc. 
  • Identify the impediments to business success over the next 6/12/24 months 
  • Describe how to prepare for when the various business concessions and moratoriums end 
  • Identify the parties who will materially impact the business post covid-19 e.g. landlord, bank, workforce, suppliers, ATO, etc.
  • Develop more appropriate financial tools for businesses to monitor performance in real time
  • Design an appropriate ‘re-boot’ capital base for the business
  • Identify restructuring options for business experiencing post covid-19 financial stress



Delegates will get the following benefits from attending: 
  • Plan for the re-boot and ‘the other side’ of COVID-19
  • Identify covid-19 legacy issues, capital management, cost base, creditor management, reporting to key stakeholders, ‘good customers’, etc. 
  • Identify the impediments to business success over the next 6/12/24 months 
  • Describe how to prepare for when the various business concessions and moratoriums end 
  • Identify the parties who will materially impact the business post covid-19 e.g. landlord, bank, workforce, suppliers, ATO, etc.
  • Develop more appropriate financial tools for businesses to monitor performance in real time
  • Design an appropriate ‘re-boot’ capital base for the business
  • Identify restructuring options for business experiencing post covid-19 financial stress.
Recording of webinars held on:

Thursday 2 July
Thursday 9 July  
Thursday 16 July
NICHOLAS MARTIN
Partner, BDO 
Nicholas is an Advisory partner in Melbourne with more than 20 years’ experience in business transformation and advisory services. Nicholas is retained by directors, executive management teams and their advisors as a project leader to develop strategic and practical ways to improve business performance – identifying and leveraging the critical instruments of the business, improving accountability, enhancing stakeholder relationships, strengthening financial performance and ultimately delivering greater enterprise value.

SHAUN MCKINNON
Partner, BDO 
Shaun is an Advisory Partner in Brisbane, specialising in Corporate Finance and Restructuring services. Shaun’s experience in Corporate Finance is primarily in the form of acquisition and vendor financial due diligence assignments and private capital raisings while his Restructuring experience includes a broad spectrum of advisory and formal roles assisting underperforming businesses and their financiers.
Whilst Shaun provides expert advice across a broad spectrum of industries, he has established himself as a leader in the Food & Agribusiness sector where he specialises in providing financial due diligence and advisory services for buyers, sellers and financiers. Shaun’s Food & Agribusiness sector experience includes having acted for various parties across a range of transactions and roles including some of Australia’s largest recent transactions.

EVENT DETAILS


Topic: Business Mindset, Corporate Finance, Insolvency

Sub-Topic: Business Planning & Analysis, Insolvency, Internal Audit, Risk Management, Solve Problems

Format: Recorded Webinar

Proficiency Level: Foundation, Intermediate

CPD: Upto 3 hours