About Course

Day 1: Introduction to Accounting for Entrepreneurs

• Morning Session:

  • Welcome and Course Overview
  • Importance of Accounting for Entrepreneurs
  • Basic Accounting Concepts
  • Types of Business Entities (Sole Proprietorship, Partnership, LLC, Corporation)

• Afternoon Session:

  • Setting up Financial Records
  • Chart of Accounts
  • Recording Transactions (Debits and Credits)
  • Accounting Software Options for Small Businesses

Day 2: Financial Statements

• Morning Session:

  • Income Statement (Profit and Loss Statement)
  • Understanding Revenue and Expenses
  • Calculating Gross Profit and Net Income

• Afternoon Session:

  • Balance Sheet
  • Assets, Liabilities, and Equity
  • Understanding the Accounting Equation
  • Interpreting Financial Statements

Day 3: Cash Flow Management

• Morning Session:

  • Importance of Cash Flow
  • Cash Flow Statement
  • Operating, Investing, and Financing Activities
  • Cash Flow Forecasting

• Afternoon Session:

  • Managing Cash Flow Challenges
  • Budgeting and Expense Control
  • Working Capital Management

Day 4: Taxation for Entrepreneurs

• Morning Session:

  • Types of Business Taxes
  • Tax Deductions and Credits for Small Businesses
  • Tax Compliance and Reporting
  • Record-keeping for Taxes

• Afternoon Session:

  • Tax Planning Strategies
  • Sales Tax and Payroll Tax Basics
  • Common Tax Pitfalls for Entrepreneurs
  • Hiring a Tax Professional

Day 5: Financial Analysis and Decision-Making

• Morning Session:

  • Financial Ratios and Analysis
  • Evaluating Business Performance
  • Break-even Analysis
  • Making Informed Financial Decisions

• Afternoon Session:

  • Financial Management Best Practices
  • Funding Options for Growth
  • Exit Strategies for Entrepreneurs
  • Course Recap and Q&A