This course will be delivered by Sarah McGuinness from SM Accounting over two mornings - Wednesday 2nd February and Wednesday 9th February, 2021

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.