Get Tak - Loo Without Forms - Afsl Co

This means that if you want to provide credit services, such as issuing credit cards or lending money, you need to obtain an ACL. However, if you wish to offer various financial services, including advice or dealing in financial products, you need to obtain an AFSL.

Compare current, actual costs to your projections. Then, subtract the increase in current liabilities from the increase in current assets. The difference is your working capital needs - how much you need to keep the doors open. If you're seeking capital for a start-up, calculations are easy.

The tailored cash needs requirement You will need to prepare a cash flow projection (see Table 15), which covers a period of at least 12 months—that is, you must assess your cash needs over at least a 12-month forward period.

Cash Requirement is Borrower's unrestricted cash and Cash Equivalents minus amount of all principal owing with respect to the Advances (including drawn but unreimbursed Letters of Credit and amounts for services used under the Cash Management Services Sublimit) and Equipment Advances exceeds $35,000,000.

The surplus liquid funds (SLF) requirement ordinarily applies to AFS licensees that hold at least $100,000 in client money or property. If it applies, the AFS licensee is required to hold $50,000 in SLF.

AFS Licensees must have a cash reserve of 20% of the greater of the following: projected outflows for the next 3 months; or. actual outflows for the last 12 months adjusted to produce a 3 month average.

Each year, Australian financial services (AFS) licensees must lodge form FS70 with ASIC and attach a copy of their complete financial statements, which includes profit and loss statement, balance sheet, note disclosures and audit report. They must also lodge form FS71 Auditor's report.