Basic Accounts (UK) Course - Award Winning Learning Platform **Limited Time Only**

Get to grips with your businesses accounts and taxes by taking our Business Accounts (UK) course

Everyone who works in a business need to do their accounting. Everyone knows that they are hugely important, however a large number of business owners and employees can claim to understand the accounts properly.

We’re experts in teaching what's important, so whether it's for yourself or for your business, our online course will teach you how to get on top of the accounts, know your business and make better business decisions.

• The Course features engagingly written text-based articles, a series of practical exercises, videos tutorials, end of unit quizzes and a multiple-choice test to benchmark and measure your progress
• Contains 20 hours of learning materials but can be completed in as little as 12 hours of dedicated study
• Generates a Certificate of Attainment and a Test Certificate (useful for CPD fulfilment)
• Provides 24/7 access to all learning materials from the date you register

Basic Accounts (UK) Syllabus:

Section 1: Getting Started

Unit 1.1 - The Importance of Accounting

The vital business information that up-to-date, accurate accounts can provide: keeping on the right side of the taxman

Unit 1.2 - The Four Different Ways to Structure Your Business

Advantages and disadvantages of each structure, in terms of; simplicity, tax savings, privacy, liability, accessibility of money earned by the business, losses in the early years

Unit 1.3 - Government Bodies, Registering and Filing

When and how to register with HMRC: if, when and how to register with Companies House; what documents must be filed each year with these bodies

Section 2: The Money

Unit 2.1 - Business Bank Account

How having a business bank account can help save you time and pay the right amount of tax: which businesses most need their own bank account

Unit 2.2 - Sources of Funding For Your Business

Where the money to fund your business might come from: yourself, family and friends, the bank, a business angel, crowdfunding, grants: advantages and disadvantages of each source

Unit 2.3 - Taking Money From Your Customers

Creating invoices, with or without VAT: collecting the money from your customers and the different tools to use: bank transfer / cash / cheque / credit card / PayPal / GoCardless: chasing late payments

Unit 2.4 - Business Costs Part 1: Keeping Track

Keeping track of your costs: separating costs paid for by the business straight away, those the business takes credit on, and those you paid for personally: why it’s important to do this: how tools such as FreeAgent and ReceiptBank can help you

Unit 2.5 - Business Costs Part 2: Tax Relief

Which costs you can use to pay less tax: key costs such as travel, use of your home for business, and large items of equipment

Section 3: The Records

Unit 3.1 - What Records to Keep and How

What records HMRC say you must keep: what records you should keep in order to be able to extract useful information about your business’s finances: how and for how long to keep your business’s paperwork

Unit 3.2 - Bookkeeping

How often you need to prepare accounts: how often it’s helpful to do them: what management accounts are: different tools to use, including a cashbook, a spreadsheet, a desktop package such as Sage or QuickBooks, and an online package such as FreeAgent

Section 4: The Taxes

Unit 4.1 - VAT 1

Who has to register for VAT: why register if you don’t have to; when to avoid registering as long as you can; how to register; how to work out how much to pay; invoice vs cash accounting, and the VAT flat rate scheme

Unit 4.2 - VAT 2

The standard rate, reduced rate and zero rate; exempt and out of scope; why these are different and why that matters

Unit 4.3 - Taxes On Profit

How each structure is taxed: payments on account: when tax is due; what to do if your business makes a loss in its first few years

Section 5: The People

Unit 5.1 - Employing Staff

Registering as an employer with HMRC; running a payroll, filling in forms and paying staff; what to do at the end of the tax year

Unit 5.2 - Taking Money Out of Your Business

When the taxman doesn’t mind how much you take out; when it could cost you tax to take too much money out of your business; how to take money out for each different structure

Section 6: The Accounts

Unit 6.1 - Reading your accounts 1): Profit:

Introduction to the profit and loss account; important information it can give you, such as whether your prices are high enough, and whether your costs are too high; how tools such as FreeAgent can help with this

Unit 6.2 - Reading your accounts 2): Cash:

Introduction to the balance sheet; how to track money coming in from customers and paid out to suppliers, and how tools such as FreeAgent can help with this; gauging how healthy your business’s cashflow is

Unit 6.3 - Reading your accounts 3): Ratios:

How to calculate useful ratios such as profit margins, break-even point, and liquidity ratios; how these can help you make the best decisions for your business’s welfare

Unit 6.4 - Planning for the future: simple forecasting

Creating simple forecasts for sales, profit and loss, and cashflow; suggested tools to use, including Float and Excel

Unit 6.5 - Do you need an accountant?

Which businesses should have an accountant; how a good accountant can help your business; how to identify a good accountant from the hundreds there are!

Required: none

Suggested: Microsoft Excel, Numbers or equivalent. Google Docs or Microsoft Web Apps could also be used.

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