Basic Accounting
AED 91
AED 257
Whether you’re looking to start a career in the financial industry, or are a small business owner who needs to ensure you have total control of your finances, this great value online course is designed to teach you the basics.
This course covers:
✓ Find out about the role of accounting in helping to operate a business profitably.
✓ Learn about the various subfields of accounting and the characteristics of accounting information.
✓ Explore the functions, advantages, and objectives of accounting.
✓ Discover four possible ways in which a business can be structured.
✓ Get to grips with the concepts of a sole proprietorship, partnership, limited liability, and unincorporated association.
✓ Learn about the tax payment implications and advantages and disadvantages of different business structures.
✓ Learn about HMRC and its responsibilities.
✓ Find out how to register with HMRC.
✓ Learn how to set up sole trader and partnership businesses.
✓ Explore the benefits of having a business bank account and who is eligible to open one.
✓ Evaluate different funding sources for business including bootstrapping, family and friends, bank loans and business angels.
✓ Find out what you need to know about dealing with money from customers including VAT, who needs to register for VAT and what needs to be included on an invoice.
✓ Learn about the importance of keeping cost records and separating costs.
✓ Explore two important tools to track costs and which costs can be used to pay less tax.
✓ Find out which records HMRC require you to keep and how long you are expected to keep paperwork.
✓ Discover what management accounts are and how often you need to prepare accounts.
✓ Learn more about VAT, who needs to register for it and when it is preferable not to register for it.
✓ Find out the difference between invoice and cash accounting.
✓ Explore the VAT flat rate scheme and how to work out how much VAT is owed.
✓ Tackle the important subject of employing staff including registering as an employer with HMRC, running a payroll, in-house payroll and PAYE.
✓ Explore taking money out of a business via dividends, IR35, directors’ loans, and salary.
✓ Get an introduction to the profit and loss account.
✓ Learn the difference between net profit and other forms of profit.
✓ Find out the important information you can get from a profit and loss account and what information is not included.
✓ Study an introduction to the balance sheet including assets, liabilities, and capital.
✓ Work through an introduction to accounting ratios and financial ratios.
✓ Learn how to calculate liquidity ratios, profitability ratios, and efficiency ratios and discover what information these ratios provide.
✓ Gain insight into forecasting including potential forecasting problems, different forecasting methods and forecasting for small businesses.
✓ Evaluate which businesses should have an accountant, at what point a business should consider getting one, and how a good accountant can help your business.
✓ Learn more about the daily life of an accountant, the benefits of a career in accounting and the place of ethics in accounting.
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