Practical Financial Management for the Small Business  Short Courses

This course will teach the basics of financial management for the small business and look at the essential elements of finance, including preparing a cash flow forecast, bookkeeping, understanding accounting procedures, preparing VAT returns, company legal structures and taxation. The course will examine how these techniques should be integrated into all aspects of running a small business.

Course Information

Start DateStart TimeDurationCostCourse CodeApply
Tuesday 7 October 2014 18:30 - 20:30 10 weekly classes £395.00 CS1798 Apply Now
Tuesday 24 February 2015 18:30 - 20:30 10 classes over 5 weeks (Tuesdays & Thursdays) £395.00 CS1798 Apply Now
Wednesday 29 April 2015 18:30 - 20:30 10 weekly classes £395.00 CS1798 Apply Now

Tutor Info

Tony Pamphilon has many years' experience of working in colleges and universities, in the UK and overseas. He has managed large departments and taught learners of all abilities from beginners up to  undergraduates and postgraduates. He currently works as a freelance lecturer and consultant and teaches a wide range of accounting related subjects at City University London and Birkbeck, University of London.

Eligibility

An interest in small business management or starting finance and business. 

What will I learn?

  • Use appropriate financial management techniques in a variety of situations experienced in a small business;
  • Understand financial forecasts for small business;
  • Understand end of year financial accounts and deal effectively with Inland Revenue and customs and excise;
  • Understand and maintain a simple manual book-keeping system;
  • Understand and interpret a business plan for a small business.

Course Content:

  1. To provide students with a sound and mature understanding of how to manually prepare profit and loss accounts and balance sheet. To realise this objective students are shown how these accounts are structured and the significance of each entry in the final accounts (profit and loss and balance). Additionally, students are trained to prepare their own final accounts. They are taught how to prepare these accounts in a conventional format and how accounting information can be used support operational and strategic decision making.
  2. To equip students with a working knowledge of the double entry system of bookkeeping, an understanding of which is fundamental to the understanding of accountancy at any level. Students learn about the double entry concept and how it can be applied both from a business and personal perspective. Students are taught how to enter transactions in the ledger accounts and how to balance the individual accounts. They are shown how to extract a trail balance after completing the double entry. The significance of trail balance is explained and how the trial balance information is used to facilitate the preparation of the final accounts (profit and loss account and balance sheet) is also highlighted.
  3. To enable student to engage in realistic and accurate forecasting. The concept of cash flow forecasting is looked at and what is included in a typical business and personal cash flow forecast. The benefits and drawbacks of cash flow forecast are discussed. Students also learn how to prepare the three columns and petty cashbook. We examine the importance of these accounts and especially stress the need for excellent cash management. Students are also taught to prepare bank reconciliation statements.
  4. To provide student with skills to prepare a realistic business plan. Students learn about the various components of a business plan and the usefulness of a business plan as a supporting document for a loan.
  5. To furnish student with a thorough understanding of break-even analysis. They learn how to calculate break-even using a formula, table and graph. We discuss the benefits and drawbacks of break-even analysis and focus on how small businesses can use this method to inform their planning. Other area covered are, VAT, and basic calculation of tax.

Informal assessment will take place through group discussion, class room activities, and questions and answers sessions as guided by your tutor.

Topics Covered:

Week 1
Introduction to Accounts: Double Entry Principles & Trial Balance
Week 2

Income Statements and Balance Sheets
Week 3
Ratio Analysis
Week 4
Cash Flow Forecasting
Week 5
Accounting for Cash
Week 6
Bank Reconciliation
Week 7


Break Even Analysis
Week 8
Sources of Finance
Week 9
VAT
Week 10
 Tax Calculations

Recommended Reading

Barrow, C. (2011) Starting and Running a Business All-in-One For Dummies. UK: John Wiley & Sons

Additional reading will be suggested during the course. 

Application Deadline: