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

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