Basic Accounting For Small Businesses

Finance advice for non finance managers.

What you'll learn

Will learn to implement proper accounting system for business and how to maintain an accounting system in their business also become aware to avoid mistakes.

Business needs frequent checks to ensure business runs smoothly. Maintain accounts for business need lots of dicisilpline in accuracy and control in accounts.

I lost a business because made mistakes in budgeting and cash flow maintenance. Therefore setting cash flow and budget and monitoring regularly is vital .

Business makes you money but poor accounting can destroy your business. I lost a business in my family due to many mistakes like no proper monitoring

Set up a proper accounting system, enforce financial control, prevent fraud in business, produce financial statements monthly, quarterly , revise the system

There is no need of budget to study the course but you need lots of practice in accounting to become knowledgeable in the basics to ensure business stays good

Requirements

Able to understand basic accounting principles and able to maintain accuracy

Description

DescriptionI am Vathani Ariyam; thank you for choosing my course "Basic Accounting for Small Business." I am a freelance accountant with many years of accounting experience. I have also seen and witnessed many businesses failing due to the lack of proper accounting procedures. Many entrepreneurs successfully set up businesses; they might have excellent skills in setting up businesses, marketing, maintain customer relationships, and winning over beautiful customers. But if they are not experienced and knowledgeable enough with various accounting systems for the company, getting the business off the ground is doubtful.You may be an accounting student or a start-up owner. This course will help you to learn many crucial things about the basics of accounting. So, I will show you what you will learn here:Bookkeeping & AccountingThe importance of cash flow & budgetUnderstanding the basics of accounting, Assets, Liabilities, and Equity.Profit & Loss account basics - Revenue, Expenses, and CostsBusiness plan and set up a new accounting system.Further, I am here to point out that most entrepreneurs try to do all the work independently without realizing the consequences that you and your business will face. Besides, that will cost you more if you make mistakes due to a lack of proper knowledge in accounting. Also, all business owners need to have some bookkeeping knowledge to ensure that your freelancer is your bookkeeper doing a good job. Therefore, my suggestion here is to outsource the work that you feel is too much for you.The result of learning this course will help you avoid the possible mistakes that could arise in the accounting work for your business.This course is ideal for students who want to study accounting or people who plan to set up a business.Thank you very much for picking up this course, and please do not forget to leave a review if you think it will help your future success.

Overview

Section 1: Introduction

Lecture 1 Common Mistakes Business owners make.

Lecture 2 Cash Flow forecast & Budgeting for your Business is essential.

Lecture 3 Bookkeeping & Accounting

Section 2: Section 2

Lecture 4 Understanding the basics of accounting, Assets, Liabilities, and Equity.

Lecture 5 Profit & Loss account basics - Revenue, Expenses, and Costs

Lecture 6 Organizing suitable accounting structure for your business.

Lecture 7 What is a business plan?

Section 3: Section 3

Lecture 8 The common mistakes that could be avoided are the following.

Lecture 9 Finding a system to simplify your home-based business accounting

Lecture 10 Why do companies face difficult times in finance?

Section 4: Section 4

Lecture 11 How do the successful businesses avoid such difficult times?

Lecture 12 Every Business needs a Bookkeeper.

Lecture 13 How to Choose a Bank That is Right For You and Your Business?

Lecture 14 Does profit prove the performance of a business?

Lecture 15 Why are stakeholders essential factors in an organization?

Lecture 16 What is the meaning of journals in accounting?

Lecture 17 What are the types of journals in accounting

Lecture 18 Use of accounting ratios in business

Lecture 19 Financial ratios are part of monitoring Budget and cash flow

Lecture 20 Setting Financial Systems for Your home Business

Lecture 21 Financing for Small Business Owners

Section 5: Section 5

Lecture 22 Business partnership essentials

Lecture 23 Developing a Partnership business structure.

Lecture 24 What are the basic accounting terms you need for any business?

Lecture 25 How do management accounts help in business?

Lecture 26 Bonus lecture

Students planning to go for accounting studies, Small business start ups and ongoing business.