BIR Insolvency Self Assessment
Turning insolvency into solvency – analysis, action, resolution, empathy

Scoring:  “Correct” answers = 1; Not Applicable = 1; All other answers = 0.

Part I  Financial Performance
27 – a perfect score! – you look to be solvent and there are no immediate dark clouds on the horizon.  The important thing is to remain vigil and aware of the potential threats when economic and competitive conditions are tough.
26 to 22 – a good result – you may not have a solvency concern but you should have a quick look at those areas you did not score correctly.  There is always a risk these areas could indicate pending problems, particularly if they are in the area of profitability and liabilities.
21 to 16 – an ‘orange light’ result – depending on the answers you were not able to answer as ‘Correct’, there is increased risk that you may have solvency concerns which need to be address with some urgency.  It is important to address those areas you did not get correct and start taking action before it potentially becomes too late. 
15 and below – there is a fair bit of work to do – and you know it!  Don’t delay.  Now is the time for action. 
Part II Management Information
11 – a perfect score!  Subject to your financial performance (refer to your score above) you have no need to fear of insolvency from the status of your books and records and your processes for identifying potential situations of insolvency.  In fact, you are running a very tight ship from a record keeping point of view.

10 to 8 – a good result – you keep good records and your processes are reasonably sound.  Perhaps there are a few areas you may wish to work on.

7 to 6 – a fair result – you should be looking to work on some areas of your business processes and record keeping so you can manage your business past potential solvency issues.

5 and below – there is a fair bit of work to do – and now you know it!  Don’t delay.  Now is the time for action.

Call Michael Royal or Darren Vardy now on 1300 783 309 if you would like an informal, no obligation free chat about your strategy processes, or email Michael or Darren at birsolvency@bir.net.au.

in summary

Our services provide you with the three core drivers of business success, enabling you to make better and smarter business decisions:

• Business Strategy Solutions – Analysing, creating and developing the right strategies for you to achieve your vision and goals.
• Human Capital Solutions – Retaining your good staff and sourcing the right staff for now and for the future of your business.
• Business Finance Solutions – Sourcing and securing the best finance (debt and equity) to match the needs of your business.

We also work with Solvency, Restructuring & Liquidation Solutions to consistently deliver the best outcomes in those difficult times when solvency and ongoing viability may be an issue.

At BIR Solutions, we are here to help you achieve the most out of your business by providing support, structure and clarity so the decisions you make for the future of your company have a positive impact.

Better solvency solutions saving businesses & saving stakeholders