Participants will cover the working elements to prepare Profit & Loss and Balance Sheets and will be introduced to revenue rules on calculating tax on profits and the other taxes that apply in business. The participants will achieve a working knowledge of book keeping, will have carried out worked examples and will be provided with tuition on revenue and tax liability.

The course will be broken down into 4 Modules as follows:

Module 1

• Profit & Loss
• Balance Sheet
• Book Keeping
• What records to keep
• Writing up books & bank reconciliation
• Practical examples

Module 2

• Introduction and overview of VAT
• Preparation of all books & posting to P&L and Balance Sheet
• Analysis of a set of accounts for performance, profitability & solvency

Module 3

• PAYE overview
• PRSI overview 
• USC overview 
• Payroll
• Cashflow projections
• Budgeting

Module 4

• What the entrepreneur should know about P&L and Balance Sheet when paying income tax or corporation tax to the Revenue
• Different rules apply
• Preliminary tax
• Revenue regulations - what expenses can I claim?
• Other taxes - RCT & PWT