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.
What Will I Learn?
The easy to follow modules will guide you through all you need to know about accounting records, bookkeeping, taxes, invoicing, payroll and other aspects of finance, with a focus on gaining the knowledge needed to run a profitable business.
How Does the Course Work?
All study takes place in your own time, meaning there is no weekly class to commit to. So not only is this a cost effective way to study, it is the ideal solution for busy students and professionals who need to fit study around their existing commitments.
Key Learning Points
Work through the 17 detailed yet clear modules to learn all you need to know to get started in accountancy.
- 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 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 a 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 an 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.
Advantages of the Course
- Enjoy 12 months access to the 10-12 hours of course content.
- Study in your own time on all your internet-enabled devices.
- Technical support is available, should it be required.
- Whether you’re interested in pursuing a career in accountancy or looking to take control of the accounts of your own business, this course will teach you all you need to know in a time and cost effective way.
Get on top of your accounts today by signing up to the Basic Accounting Certificate.
This course is CPD certified.
- What is accounting and how does it help to operate a business profitably?
- Various subfields of accounting
- Characteristics of accounting information
- Functions, advantages and objectives of accounting
- Four possible ways in which a business can be structured.
- Information about Sole Proprietorship, Partnership, Limited Liability and Unincorporated Association.
- How every structure is affected by different tax payment procedures.
- Advantages and disadvantages of a different business structure.
- What is HMRC? Its responsibilities
- How to register with HMRC
- Setting up a sole trader business
- Setting up a partnership business
- What are the benefits of a business bank account?
- What is a business current account?
- How is it beneficial to have a business current account?
- Who can apply for a business current account?
- Family and friends
- Bank loans
- Business angel
- Full information about VAT
- Who needs to register for VAT
- What should be included on an invoice
- The importance of keeping cost records
- Separating costs
- Two important tools to use to track costs
- Which costs you can use to pay less tax
- What records HMRC say you must keep
- How and for how long to keep your business’s paperwork
- How often you need to prepare accounts
- What management accounts are
- What is VAT and who has to register for it?
- Why register for VAT, if it is not necessary to do so? When should you avoid registering for VAT?
- How to register for VAT
- What is the difference between invoice and cash accounting, how to work out how much VAT to pay and what is the VAT flat rate scheme?
- Registering as an employer with HMRC
- How to run a payroll
- In-house payroll
- What is PAYE?
- Directors loans
- Introduction to the profit and loss account
- What is the difference between net profit and other forms of profit?
- What important information can you get from a profit and loss account?
- What information is not included in a profit and loss account?
- Introduction to the balance sheet
- What are accounting ratios?
- Introduction to financial ratios
- How to calculate liquidity ratios, profitability ratios and efficiency ratios
- What information can these ratios provide for your business?
- An introduction to forecasting
- Types of forecasting problems
- Different forecasting methods
- Forecasting for small businesses
- Facts about accountancy numbers in the UK
- Which businesses should have an accountant
- At what point in your company's life does it need an accountant?
- How a good accountant can help your business
- Accounting facts
- A day in the life of an accountant
- Benefits of a career in accounting
- The place of ethics in accounting
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