Our additional services include all aspects of financial management of a small business.
Accounting Records
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The Accounting Equation
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Business Documents and their purpose in both buying and selling
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Accounting for cash and bank the analysed cash book including basic recording of input and output tax (VAT)
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Bank Reconciliation Statement
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Accounting for petty cash
Value Added Tax (VAT)
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Registration requirement
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Inputs and Outputs, standard rated, exempt and zero rated supplies
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Identify and calculate relevant inputs and outputs including the treatment of cash discount and bad debt relief
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Accruals accounting and cash accounting basis
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Accounting treatment for VAT
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Completion of the VAT return
Module 3. Payroll
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Methods of remuneration and calculation of Gross Pay
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Statutory and Voluntary deductions
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The principles of the system of PAYE
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The preparation of the payroll
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Starters and Leavers
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HMRC forms and returns monthly and annual
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The principles of SSP and SMP
The Preparation and Interpretation of Financial Statements
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The profit and loss account
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The Balance Sheet
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The above will include the treatment of provisions and adjustments
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Mark-up and Margin
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Performance Indicators to measure:
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Profitability
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Liquidity
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Financial Structure (simple gearing calculation)
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Taxation and the Self Employed
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Preparation of accounts for tax purposes
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Adjusting profit for non-allowable expenses
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Capital Allowances, balancing allowances and balancing charges
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Personal and other allowances
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The tax liability including class 2 and class 4 NI
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The small Ltd Company and taxation
Pricing the Product or Service
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Direct and Indirect Costs
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Cost behaviour Fixed and Variable Costs
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Recovery of Overhead.
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CVP (cost, volume, profit analysis including break-even)
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Target Costing
Working Capital Control and Forward Planning
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The working capital cycle and its effect on cash flow
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The principles of credit control (control of debtors)
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The preparation of functional budgets and the cash flow forecast
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The preparation of the forecasted profit and loss account and balance sheet
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Methods of funding short term deficits and short term surplus cash management
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Analysis of forecast to actual expenditure through variances and their timely reporting