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

£50

 

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

15:00: Close

 

Location - King's House, Ampthill Road, Bedford, MK42 9AZ.

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