PROGRAMME OBJECTIVES: At the end of this course Trainees should be able to

 Understand tax compliance and planning

 Understand tax administration in a small business

 Manage taxes effectively

 keep appropriate records and start to prepare daybooks

 Understand inputs and outputs of good bookkeeping

 Execute proper controls for good bookkeeping

 Extract key information for taxation and financial management purposes

OUTLINE CONTENT

Module 1 – Understanding Tax Compliance & Planning

 Self Assessment system explained – income tax compliance obligations

 Tax administration in the small business

 Record keeping obligations – receipts, invoices etc

 Deductible expenses

 Capital Allowances

 Reliefs available to micro enterprise including SYOB Relief

 Elements of a tax bill – tax, PRSI & USC

 Identify how tax is calculated – using case study and exercises

 Tax dates- preliminary tax, tax returns – Form 11 introduced

 Contact numbers

 Dealing with your accountant

 Introduction to Daybooks – using sample

Module 2 – Maintenance of Key Books and Financial Records including Inouts and Outputs of Good Bookkeeping

Prepare of the following: Concentrating on Daybooks and day to day bookkeeping

 Basic bookkeeping and accounts terminology explained

 Cash Receipts Book & Cheque Payments Book (Bank Book)

 Sales book

 Purchases book

 Petty Cash Book or equivalent

 Introduction to VAT and compliance obligations

 Bookkeeping for VAT v Non VAT businesses

 Manual or Comuterised system?