An introduction to record keeping concepts and methods, with stock control and credit control, budgeting, business plans, as well as how to source finances.
1. Record keeping
Follow five steps to set up an accurate record keeping system.
2. Bookkeeping and accounting basics
• Consider the various financial statements that are prepared to assist in judging the business performance.
• Learn to develop internal methods to measure the business performance on a daily basis.
3. Understand accounting
Obtain insight into financial accounting to keep effective records and to analyse the resulting financial statements.
4. Understand profit and loss account
Use the profit and loss account to detail changes during a specific financial period.
5. Understand a balance sheet
Understand the content of a balance sheet that reflects the status of the business at the end of a specific financial period.
6. Create a cash-flow statement, a cash-flow forecast, and control stock
Use the cash-flow statement to reveal cash movement, plan and track cash changes, and apply tips to control stock effectively.
Workshop fees includes refreshments and lunch.
Facilitator: Michael Lombard