Bookkeeping and Accounting


Small Business Accounting

This course can be booked online.

10/05/2021

Aspire Cloud

£45.90

18:00 - 20:00

Monday

2 hours x 3 sessions

If you are thinking of starting your own business, or already run a small business, but need to understand more about your financial obligations, then this course is for you!
Over three 2 hour interactive online sessions, our tutor will cover information that is specifically relevant to small businesses and that which can be practically applied, giving you an opportunity to ask questions and check understanding along the way. The course will cover:

Session 1 - Introduction to the Accounting System & Setting up an accounting system
• Overview of the accounting system and how to set up a basic system based on cash book accounting.
• Identify business expenditure
• Understand the importance of source documents and how to record income and expenditure in the cash book.
• Identify business expenditure
• Explain the difference between capital and revenue expenditure and how to spread the costs over the accounts
• Explain profit and loss and how to identify it

Session 2 - Trial balance and final accounts information
• Costing and pricing products/jobs/services
• Explain the profit & loss account and the balance sheet. (Final accounts).
• Prepare a set of final accounts for a sole trader from a period end trial balance for reference
• Basic cash flow planning

Session 3 - Final accounts preparation & Basic bookkeeping software
• Discuss the need for credit control.
• Discuss budgets and performance monitoring.
• Looking at free software options