Small Business Accounts

Venue:
Remote
 
Date:
26/01/2022
 
Note:
Wednesday 26 Jan 2022
 
Time:
9.30 to 1.30
 
Category:
Business Training
 

This online course will give participants an understanding of small business accounts, especially the Profit and Loss Account and its impact on the business.

This event is no longer available
 

This course will give participants an understanding of Small Business Accounts.

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.

This course is suitable for individuals wishing to start a business/ Individuals in business < 3 years, whether they are sole traders, partnerships or limited companies.

Course Objectives:

  • To explain and demonstrate the books and records that must be kept by business owners and in what format
  • To teach and explain which expenses are allowed to be claimed by businesses and those that are disallowed
  • To demonstrate and practice how to reconcile the bank account
  • To explain the Profit and Loss account and Balance Sheet and how the Books update these

Course Outline:

  • Keeping and recording financial records – ‘The Books’
  • Sales, purchases, bank transactions
  • Allowable business expenses
  • Accounting Elements - Assets, Liabilities, Income, Cost of Sales and Expenses
  • Bank Reconciliation
  • Debtors & Creditors
  • The Profit and Loss Account and Balance Sheet
  • An Introduction to VAT 

This course is delivered by Sarah McGuinness of SM Accounting who is a chartered certified accountant and tax advisor  with twenty years’ experience working with sole traders and limited companies.

This course is limited to businesses from County Offaly.