This course will be delivered online by Sarah McGuinness from SM Accounting Solutions on Tuesday, 17th September from 9:30am to 1:00pm

Course Outline:

• This course is designed as a workshop with opportunities for participants to contribute. The aim of the course is to give the participants confidence in working with their business’s financial data and records, and the knowledge needed to keep proper books of account and to deal with Revenue obligations. It will also give participants a deeper understanding of small business accounts (‘The Books’) and finance, especially the Profit and Loss Account and Balance Sheet, and their impact on the business, it’s future and the business’s income taxes.

Course Objectives:

• 1. To explain and demonstrate the books and records that must be kept by business owners and in what format
• 2. To teach and explain which expenses are allowed to be claimed by businesses and those that are disallowed
• 3. To demonstrate and practice how to reconcile the bank account
• 4. To explain the Profit and Loss account and Balance Sheet and how to update these
• 5. To explain the difference between cash and profit and show participants an example of a cash flow statement and a forecast.

Course Content:

• Keeping and recording financial records – ‘The Books’
• Accounting Elements - Assets, Liabilities, Income, Cost of Sales and Expenses
• Allowable business expenses
• Working from home allowance
• Calculating Profits
• Debtors & Creditors
• The Profit and Loss Account and Balance Sheet
• An Introduction to VAT

Training Method:

• Clear demonstrations by the trainer using the flip chart and Power Point (Classroom) or Power Point, Excel and Screen-sharing (online).
• User-friendly case-study used as the training tool.
• Practical exercises for participants.
• Interactive learning.
• All participants will receive a set of detailed notes / slides at the start of the class.

While this course is open to everyone, if over-subscribed priority will be given to Leitrim based businesses.