Video:

Back to Business Webinar Series

25 June 2020

The BDO BACK TO BUSINESS series aims to provide you with valuable insights and practical strategies as you grapple with our new economy, the fallout of COVID-19 and your business recovery.

Browse all webinar episodes in this series below.

As we collectively come to grips with the impact the virus has had on our lives and livelihoods, we’ll be faced with many challenges and decisions. Our ability to adjust and adapt is critical as we move into our next state of normal.
 

Wage Subsidy Scheme

 

 

Topic and Description  
Unpacking The NZ Government Assistance Scheme WATCH 

As part of the New Zealand Government assistance package, businesses significantly impacted by the COVID-19 outbreak will be able to access a number of offerings to ensure cashflow and subsidise wages.

This assistance will help businesses to keep people in their jobs and re-start as the country returns to normal. Join Richard Bayly, Senior Consultant at JobAdder, as he speaks to Doug Haines, Advisory Partner at BDO. In the following webinar Richard and Doug will cover:

  • The New Zealand wage subsidy extension scheme
  • Which small business cashflow loans are available & if you’re eligible
  • Preparing for a Ministry of Social Development Audit
  • How to think about your cashflow and tax as an SME post-COVID
 

 

 

Taxation

 

 

Topic and Description  
Taxation: Review of COVID-19 Tax Reforms WATCH 

Iain Craig, BDO National Tax Leader and Mark Lodder, Director at BDO Christchurch discuss recent COVID-19 tax reforms and relief, as well as strategies to manage payments and work with the IRD.

Topics using practical examples included;

  • Wage Subsidies and Financial Assistance
  • IRD Remission of UOMI and Late Payment Penalties
  • Tax Loss Reform
  • Tax Incentives
  • Tax Administration Changes
 
Achieving Cashflow Freedom  WATCH

Watch this recorded webinar, Cashflow Freedom, to discover where the cash goes in your business and learn how to better manage it to achieve cashflow freedom.

  • Understand where the cash goes in your business
  • Learn how to differentiate your business from competitors and prepare for economic uncertainty
  • Understand your break-even point and how to reduce the cost of sales
  • Identify the profit drivers and KPIs for your business
  • Understand how planning and accountability will help you achieve cashflow freedom
 
Tackling the Small Business Cashflow Challenge  WATCH 

Applications for the Small Business Cashflow Scheme opened on 12th May.  Do you know whether your business is eligible and how to apply?   

During this webinar we’ll talk about the loan scheme and other tips for managing cashflow.

The following topics will be discussed: 

  • Maximising incoming cash
  • Managing outgoing cash
  • Small Business Cashflow Loan Scheme
  • Accessing business support funding
 

 

 

 

 

Business Recovery and Insolvency

 

 

Topic and Description  
Restructuring options  WATCH

Andrew Bethell and Andrew McKay at BDO Auckland with colleague Jessica Kellow from BDO Christchurch, Business Recovery and Insolvency Partners addressed a variety of restructuring options, along with the benefits and pitfalls you need to be aware of. Topics included:

  • Operational vs financial restructuring
  • Restructuring processes
  • Options available to you, including practical Covid-19 tools
  • Information for Directors
  • Recent examples and key takeaways

Restructuring typically involves making changes to an organisation’s operational and capital structure to enhance future viability and growth. In these difficult times restructuring to some degree is essential for all businesses.

 
What does Business Recovery Planning look like? WATCH 

Right now, it’s ‘Business Unusual’ as businesses reopen after the Covid-19 crisis and adapt to an unfamiliar environment. We’re on the frontline of business support and we’re doing all we can to help our clients get to a new ‘Business as Usual’.

We cover the most important steps you can take to ensure your business has the best chance of recovery, including:

  • Closing the disconnect
  • The need to re-invent
  • Your budget (personal and business)
  • Opportunities, vulnerabilities and critical challenges
  • Identifying and managing risks
  • Goals and actions
  • Pulling everything together as a complete package
 

 

 

 

 

Business Strategy

 

 

Topic and Description  
Resetting strategies WATCH 

Tarunesh Singh, Head of Risk Advisory Services - BDO Auckland with Phillip Roth, Advisory Partner and Rhea Cowell, Senior Strategy Analyst from BDO Christchurch discussed the need to review your short-term strategy as we move through 2020, and an adaptive approach to change.

Topics include:

  • Rethinking organisational culture and behaviours
  • Redefining revenue streams
  • Re-imagining operations and how we do business
  • Re-evaluating the importance of data and digital innovation
  • Strategy fundamentals – what good looks like
 
Business Continuity  WATCH

It is essential that every business has a plan for dealing with the fallout from this pandemic.

A plan will give you peace of mind and clarity for decision-making for the future of your business, and ensure you access Government support entitlements and maximise opportunities to preserve your cashflow and profitability.

 
Covid-19 Q&A for Businesses WATCH

Alex Quinn Senior Relationship Manager of ANZ Taranaki will join our Associates Leisa Kelsen and Erin Gall in a Q & A webinar to answer questions specific to your individual circumstance covering: 

  • Received the wage subsidy, now what?  
  • Planning for the future 
  • How to work with your bank
 
Meeting the challenges of Alert Level 3, and beyond  WATCH 

The core topics of this presentation included;

  • Travel and Personal Movement
    • Use of vehicles
    • Public transport
    • Domestic air travel
    • Freight
  • Level 3 Rules for Businesses
  • A COVID-19 Safety Plan
  • What Operating Safely looks like
  • What you need to focus on;
    • Review your strategy
    • Develop, implement, and communicate your COVID-19 Safety Plan
    • Establish robust contact tracing measures and ensure that they’re working
    • Don’t overlook your compliance obligations
    • Review your forecasts
 

 

 


 

 

Financial Reporting and Accounting Standards

 

 

Topic and Description  
Revenue Recognition and impairment of assets  WATCH

With a particular focus on Directors, Chief Financial Officers and finance teams the BDO team discussed entities reported revenue and carrying value of its assets in financial statements being prepared for 31 March year ends, and year ends beyond, as they come under the microscope as a result of COVID-19. Content includes;

  • What financial statements need to reflect
  • The areas of revenue recognition that are impacted
  • How the impairment of assets may need to be (re)thought as a result of COVID-19

Use the knowledge and tools shared to apply to your business to assist in navigating the 2020 year-end financial reporting process, as well as the on-going accounting treatment in this new COVID-19 world.   

 

 

 

 

 

Sector Specific

 

 

Topic and Description  
Financial Management strategies to combat COVID-19 ( NZIOB Webinar) WATCH 

The following Webinar hosted by the New Zealand Institute of Building is presented by James MacQueen, BDO Advisory Partner and Construction and Real Estate Sector National Leader.

The webinar focuses on the financial response, actions, and decision making that is required from companies in the wider construction sector operating in the new environment.  Although it focuses on the construction sector the key messages and guidance apply to businesses in most sectors

Topics covered in the webinar include:

  • Predictable financial trends
  • Forecasting
  • Cash management
  • Reliability of the information
  • Performance improvement
  • The decline curve
  • Safe harbour for directors
  • The future - avoiding a race to the bottom
 
Working smarter with technology & the Cloud WATCH 

The BDO Information Systems team discussed practical technology solutions you can utilise in your business to achieve smarter ways of working including;

  • eCommerce integrated to inventory and finance
  • eCommerce automation with shipping and tracking
  • Accounts payable automation
  • Automated debtor collection
  • Online reporting tools

Through the lockdown many businesses have enabled remote working and realised the benefits of investment in technology. No doubt there have also been frustrations with working in a ‘paperless’ environment, accessing legacy technology and modifying historic business processes.

 
Back to Community Part 1: Standing out from the crowd in a post COVID-19 economy WATCH 

The team addressed the funding constraints facing Public Benefit Entity’s in a post-Covid-19 economy, and explored practical solutions to ensure your organisation is positioned to receive the level of funding required to take advantage of new opportunities and continue furthering its mission/purpose, including:

  • What funders are looking for when allocating grant funding
  • How to demonstrate your organisation’s ability to make an impact; and
  • Using your annual report as a marketing tool.
 
Back to Community Part 2: Working Better Together - Collaboration Opportunities  WATCH

The BDO team and guest speakers Heather Verry, CEO, Diabetes NZ; Wayne Howett, CEO, Ronald McDonald House; and Lisa Gibson, Business Capability Manger, Sport New Zealand addressed the opportunities for collaboration and working better together in the Public Benefit Entity sector to improve impact, including:

  • Success stories and analysis of successful collaboration within the sector; and
  • Ideas for potential future areas of collaboration.
 
Managing Milk Price Volatility WATCH 

Following the over subscription of Fonterra’s latest Fixed Milk Price offering, we have been inundated with inquiry about milk futures as an option to achieve certainty around milk price.

In the above webinar Harry Hewitt, a Derivatives Specialist from Jarden, and Chris Harvey.  our BDO Taranaki  agribusiness consultant, discuss the following:

  • Hedging strategy
  • The tools available – milk futures/options
  • Funding requirements and he process  
  • As well as a panel Q & A with Steve Waite, Principal of BDO Taranaki