The truth about your financials
Increase your chances of business success by better understanding its financials.
15th March 2019
5 hour 1 day course
King's House, Bedford
First, the important bits... There will be cake, lunch, and time to network!
Now, down to business...
Are you in business and do you handle your own bookkeeping and/or accounting? Are you the business owner or employed by the business?
If so, then this workshop is for you. It's a 5 hour - BOREDOM-FREE - crash course in Bookkeeping and Accounting, specifically aimed at SMEs which handle these areas in-house.
By the end of the session, you will have a great deal more confidence in reviewing the financial performance and position of of your business, as well as the Tax implications.
Specifically the session will aim to help you:
- Become more familiar with how Bookkeeping/Accounting software works, including the benefits, costs, and limitations.
- Understand how real-life business transactions affect the financial statements.
- Know the correct VAT treatment of common business expenses.
- Have more certainty about what is and is not Tax deductible.
- Read and interpret a Profit & Loss statement and a Balance Sheet.
- Learn how to analyse the profitability of different business streams or contracts, and how to set this up.
- Learn basic budgeting and forecasting.
- Learn basic Accounting terminology, and have more confidence about your numbers, so that discussions with your Accountant are more productive.
ON THE DAY:
10:00 - 10:15 - Arrival & greeting.
10:15 - 10:45 - Introduction to using Accounting Software (mainly FreeAgent) and best practises.
10:45 - 11:30 - Real-life Bookkeeping and addressing common mistakes, including:
* Bank reconciliation (and why it is ESSENTIAL);
* Recording Directors' / Employees' expenses;
* Travel and subsistence (incl. mileage);
* Entertaining costs.
11:30 - 12:00 - Correct VAT treatment of common transactions and how to double check this.
12:00 - 12:30 - Understanding a Profit & Loss statement and Balance Sheet.
12:30 - 13:15 - Lunch break and networking.
13:15 - 13:45 - Setting things up to see what is profitable and what is not.
13:45 - 14:30 - Basic budgeting and forecasting.
14:30 - 15:00 - Q&A
Location - King's House, Ampthill Road, Bedford, MK42 9AZ.
Opens an email for you to get in touch and book your place.
Opens an email for you to get in touch
and book your place.