Accounting For Entrepreneurs
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About Course
Day 1: Introduction to Accounting for Entrepreneurs
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Morning Session:
- Welcome and Course Overview
- Importance of Accounting for Entrepreneurs
- Basic Accounting Concepts
- Types of Business Entities (Sole Proprietorship, Partnership, LLC, Corporation)
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Afternoon Session:
- Setting up Financial Records
- Chart of Accounts
- Recording Transactions (Debits and Credits)
- Accounting Software Options for Small Businesses
Day 2: Financial Statements
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Morning Session:
- Income Statement (Profit and Loss Statement)
- Understanding Revenue and Expenses
- Calculating Gross Profit and Net Income
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Afternoon Session:
- Balance Sheet
- Assets, Liabilities, and Equity
- Understanding the Accounting Equation
- Interpreting Financial Statements
Day 3: Cash Flow Management
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Morning Session:
- Importance of Cash Flow
- Cash Flow Statement
- Operating, Investing, and Financing Activities
- Cash Flow Forecasting
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Afternoon Session:
- Managing Cash Flow Challenges
- Budgeting and Expense Control
- Working Capital Management
Day 4: Taxation for Entrepreneurs
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Morning Session:
- Types of Business Taxes
- Tax Deductions and Credits for Small Businesses
- Tax Compliance and Reporting
- Record-keeping for Taxes
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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
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Morning Session:
- Financial Ratios and Analysis
- Evaluating Business Performance
- Break-even Analysis
- Making Informed Financial Decisions
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Afternoon Session:
- Financial Management Best Practices
- Funding Options for Growth
- Exit Strategies for Entrepreneurs
- Course Recap and Q&A
Short Description
Accounting For Entrepreneurs