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Accounts: understanding your financial health

Date: June 14th, 14:00-16:00

What will we cover?

We introduce key financial concepts, demystifies the terminology, and builds confidence in interpreting your accounts.

It’s a highly practical discussion that emphasises the importance of accounts and sound finance to every business and where to get help.

We start by looking at accounts: what they are, why they matter, where to record, and who needs to know.

We then explain the need to keep accurate records, before explaining the difference between cash and accrual methods.

It’s then time to turn to HMRC requirements across PAYE, National Insurance, VAT, and Corporation Tax before looking at the important issue of allowable expenses. We look at Making Tax Digital and VAT MOSS, before ending by highlighting a number of resources to help SMEs manage their finances day to day.

The course then moves on to consider the three essential statements: cashflow, profit and loss, and the balance sheet. Introducing you to useful ratios to analysis financial information

We end with a brief look at how to get finance: types to consider, the pros and cons, what it costs, and how to secure it!

What will I learn?

• what accounts are and why they matter

• HMRC requirements for filing

• the basics of the three financial statements: cashflow, P&L, and balance sheet

• interpreting financial statements – for your company and others

• simple ratios that will improve your financial decision making.

Who should attend?

Any entrepreneur, director, or manager who is keen to understand their accounts. The course consists of pre-recorded material, which you can work through at your own pace, followed by a live two hour webinar to apply what you’ve learned to your own business

 

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