Webinar Recording: Financial Mastery for RTOs

Recorded on 29/04/2024, this webinar delved into the symbiotic relationship between stringent financial management practices and the attainment of exceptional education standards regulated by the Australian Skills Quality Authority (ASQA).

Please note that the revised Standards for Registered Training Organisations were publicly released on 1 October 2024 and will come into full regulatory effect from 1 July 2025.

The Standards for Registered Training Organisations (RTOs) 2015 will continue to apply until then.

This webinar recording refers to, and is based on, the requirements for the current regulatory environment.

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Topic overview:

In the ever-evolving landscape of the Registered Training Organisation (RTO) sector, achieving remarkable outcomes hinged not only on educational content and delivery but equally on the bedrock of financial health and compliance. This presentation delved into the symbiotic relationship between stringent financial management practices and the attainment of exceptional education standards regulated by the Australian Skills Quality Authority (ASQA).

We explored how quality inputs in the form of effective financial planning, budgeting, and adherence to financial viability requirements set by ASQA were paramount in fostering a sustainable environment where educational excellence could thrive. Our discussion pivoted around key strategies for RTOs to maintain financial health, including cash flow management, cost control, and revenue diversification, while meeting compliance standards that ensured the integrity and sustainability of their operations. Further, this presentation highlighted case studies and best practices from the RTO sector, illustrating how implementing robust financial frameworks directly contributed to remarkable outcomes in terms of student success, satisfaction, and overall organisational growth.

Attendees gained insights into practical financial tools and software that could streamline processes, enhance decision-making, and ultimately drive quality educational delivery. By embracing financial mastery, RTOs laid a solid foundation that not only met regulatory requirements but also elevated the educational experience, leading to remarkable outcomes for both learners and the broader community.

What was covered in the session:

• Introduction to financial management in the RTO sector and its impact on educational quality.
• The crucial role of financial viability in meeting ASQA standards.
• Strategies for effective financial planning and budg-eting tailored for RTOs.
•  Cash flow management techniques to ensure contin-uous operation. 
• Cost control measures to maintain financial health within the RTO environment. 
• Revenue diversification and its significance for RTO stability and growth. 
• Compliance with financial standards as a cornerstone for RTO integrity. 
• Case studies showcasing the success of RTOs with strong financial frameworks. 
• Best practices for financial management in the RTO sector. 
• Practical financial tools and software recommenda-tions for RTOs. 
• The influence of financial mastery on educational outcomes and student success. 
• How RTOs can exceed regulatory requirements and enhance the educational journey. 
• The interconnection between robust financial prac-tices and education and community benefits.

Webinar content targeted towards:

• CEOs
• RTO Owners
• Senior Management 
• Operational Managers
• Financial Managers
• Compliance Managers

Webinar duration: 60 minutes

Bio of presenters:

With over 25 years’ experience as a practicing CA, David is the Founder and Principal of RTO Accountants. David started his career at KPMG, moving onto mid tier accounting firms and commercial roles with Citigroup, Zurich, CBA and others in Sydney and London before setting up an accounting practice in 2001. Offering commercial and realistic advice, David believes the foundation for business success is built upon strong, trusted and lasting client partnerships.    David is commercially minded and works collaboratively with clients to develop strategies and solutions for complex business challenges. Having worked in accounting firms as well as public and private businesses, David has a breadth of experience in accounting, taxation, business advisory, financial control and CFO roles, ensuring his clients receive top-level, expert advice.    With extensive experience working with RTO’s and training businesses, David has been heavily involved in advising and negotiating the sale of training businesses including two in the last year and one into a listed vehicle.

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