Small Business Accounts

Venue:
Online
 
Date:
02/11/2021
 
Note:
Tuesdays
 
Time:
9.30am to 12.30pm
 
Category:
Business Training
 

This training is aimed at Individuals in business less than 3 years, whether they are sole traders, partnerships or limited companies.

Free
 
 

This course will be delivered by Sarah McGuinness from SM Accounting over two mornings - Tuesday, 2nd November and Tuesday 9th November

Sarah McGuinness


Course Aim:

This course is designed as a workshop with opportunities to participant and contribute. The aim of the course is to give the participants confidence in working with their business’s books and records, and the knowledge needed to keep proper books of account and to deal with Revenue obligations. It will also give participants an understanding of small business accounts, especially the Profit and Loss Account and its impact on the business, it’s future and the business’s income taxes.

Course Objectives:

1. To explain and demonstrate the books and records that must be kept by business owners and in what format

2. To teach and explain which expenses are allowed to be claimed by businesses and those that are disallowed

3. To demonstrate and practice how to reconcile the bank account

4. To explain the Profit and Loss account and Balance Sheet and how to update these

5. To explain the difference between cash and profit and show participants an example of a cash flow statement and a forecast.

Course Content:

  • Keeping and recording financial records – ‘The Books’
  • Allowable expenses
  • Assets, Liabilities, Income, Cost of Sales and Expenses
  • Bank Reconciliation
  • Debtors & Creditors
  • The Profit and Loss Account and Balance Sheet
  • Cash Flow Management & Forecasts

Training Method:

Clear demonstrations by the trainer using Power Point, Excel and Screen-sharing

User-friendly case-study used as the training tool.
Practical exercises for participants.
Interactive learning.


All participants will receive a set of detailed notes/ slides at the start of the class.