DURATION: 1 morning per week for 4 weeks

PROGRAMME OBJECTIVES:

At the end of this course Trainees should be able to

• keep appropriate records

• prepare daybooks

• extract key information for taxation and financial management purposes

OUTLINE CONTENT

• Self Assessment system explained – income tax compliance obligations

• Record keeping obligations – receipts, invoices etc

• Using technology to keep records, photos, apps etc

• Review deductible expenses

• Identify how tax is calculated

• Tax dates- preliminary tax, tax returns – Form 11

• Contact numbers

• Dealing with your accountant

• Introduction to Daybooks – using sample

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

• Basic bookkeeping and accounts terminology explained

• Bank Receipts Book & Bank Payments Book (Bank Book)

• Reconciling to bank statements

• Sales book

• Purchases book

• Petty Cash Book or equivalent

• Filing

• Setting up daybooks above to ensure useful information available for tax returns and financial management

• Practice daybooks – exercise and case studies provided

• Different types of accounting packages

• Introduction to VAT and compliance obligations

• Extracting key information from daybooks to prepare Profit and Loss Account, Balance Sheet and snapshot report

• Practice daybooks and financial reporting– exercise and case studies provided

• Introduction and Demonstration of ROS (using slides obtained by Ace Training from Revenue)

• Using Revenue On-line System(ROS) and registering on ROS.

• Using other tools available from Revenue, e.g. desktop apps Introducing Form 11 and completing same using ROS Offline Application or ROS