AGENDA: Small Business Accounts / Bookkeeping (4 Evenings)

Session 1

Thursday 5th October

Fixed Cost, Variable Cost & Breakeven Analyses

• Identify, understand and clarify your own personal goals
• Understand key financial terms relating to business.
• Gain an appreciation for the financial conventions: objectivity, money measurement, stability, going concern, consistency, alternative to historic cost
• Fixed, Current Assets, Current Liabilities and Working Capital
• Fixed and Variable overheads
• Break even formula

Session 2

Thursday 12th October

Cashflow, Profit & Loss and Balance Sheet 

• Cash Flow Forecasts incorporating examples and solutions
• Planning Capital requirements
• Accounting principles and conventions
• Profit and Loss, Balance Sheet and Cash Flow Projection
• Understand how to read, interpret and understand: Sales, Profitability, Gross Margins and Costs – Fixed and Variable.
• Understand how to account for accruals, debtors and bad debts
• Understand the contents of the balance sheet and the calculations which result in the information displayed in the balance sheet.
• Learn to interpret and understand all financial information relating to it.

Session 3

Thursday 19th October

Budgeting 

• Budgeted Profit and Loss and Variance Analysis
• Have a clear understanding of managing cash flow in relation to business needs and budgeting for financial success
• Examine budgeting forecasting in terms of format and structure of projections, implications of pricing policy for profitability and cash flow
• Gathering information for use in determining and/or revising budgets
• Have examined a historical analysis of cash flow & have explored a budgetary method
• Understand how to effectively budget for success
• Pricing your product or service
• Understand the concept of pricing for profitability

Session 4

Thursday 26th October

Taxation

• Introduction to the concept of business taxation and the correct method of accounting of same
• Finance options: banks, financial institutions, building societies and credit Unions
• PAYE/PRSI: Registration; tax free allowances; rates of taxation; Employer/Employee PRSI; exemption limits.
• VAT: Registration; income threshold; rates
• Business Taxation: Corporation Tax, Capital Gains Tax; Income Tax; Self-Assessment; Deferred tax; Thresholds and exemptions