Accounting Made Easy for Business Owners and Entrepreneurs
- 1 hour on-demand video
- 2 downloadable resources
- Full lifetime access
- Access on mobile and TV
- Certificate of Completion
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- The basics of accounting that is needed for small business owners and entrepreneurs
- The basic accounting formula that is used in double-entry accounting
- The main financial statements that are used as a barometer to evaluating business performance
- Which accounting functions you should outsource and when you might be able to perform on your own
- When it makes sense to hire your own bookkeeping and accounting staff
- There are no prerequisites just a desire to learn about accounting and how it impacts small business
- My other course called "Starting a Small Business - Startup Guide for Entrepreneurs" can be a good complimentary course for this one
Do you want to get a grasp of the accounting functions for your business or new startup? Are you confused about where to start and what you need to know? Are you the type of person that feels intimidated by the topic because you don't like math or you are not a "numbers person"? Well you are not alone.
In this course I will teach you:
The basics of accounting in easy-to-understand terms designed for the small business person.
What you can and should outsource for your business?
When it makes sense to hire your own bookkeeping or accounting staff?
Financial Statements that are Typical for Business Success
We will also look at the main financial statements that businesses typically use and how they can help you monitor the performance of your business. These financial statements are like the instrument panel on a vehicle that can help you understand where you've been and where your business is heading.
I have 30 years of accounting experience and I've helped other entrepreneurs get their accounting set up properly and explained everything in simple terms for the layperson to understand. And I can help you too!
Sign up for the course and get started today.
- New business owners that want to better understand accounting and how it will relate to their business functions
- Current business owners that want to better understand accounting and how they may be able to improve their current processes
- Middle managers that better want to understand accounting principles that could help them better manage their business units
- Anyone that is sick and tired of being intimidated by the numbers because they are "not a numbers person" or "hate math"
- High school or University students that want to learn more about "real world" accounting and how it relates to small business
- Accountants and bookkeepers that want to better help their small business clients
- Job seekers that want to improve their knowledge of accounting
As a business owner you have many things on your to-do list that you need to juggle. Sometimes it can be overwhelming and you accounting is one of the last things you want to worry about until it's time to do your taxes. And by that time it may be too late.
In this lesson we will go over the importance of accounting and why it is so important anyway? We will look at the objectives of accounting, the three steps of accounting and the benefits of having a good accounting system. And hopefully it help you realize to get this aspect of your business set up properly from the beginning.
Contrary to popular opinion, accounting is not based on some super-duper formulas or complicated math. In this lesson we will go over the basic accounting formula that will be the basis for the theory and practicalities that we learn for the rest of the course. I promise you the equation is easy!
One of the first decisions you need to discuss with your accountant when you start your business is whether you will utilize the cash method of accounting or the accrual method. In this lesson we will discuss the differences between both methods. In the next lesson we will go over when it is mandatory to use the accrual method of accounting.
When you first start out your business you will have to choose whether you will run on a cash basis or an accrual basis. Most small businesses choose cash since it is simpler and easier to maintain. However, there are times when you MUST use the accrual basis. This video will explain when it is required by the I.R.S.
One of the most important first steps you will undertake as a business owner is choosing the proper entity for your business. In this lesson I will go over some of the tax considerations you need to keep in mind when choosing an entity. Get with a good accountant to discuss which option would be beset for your particular situation.
One of the most important things you should do, especially during the early phases of your business is to come up with your break-even point. You need to know how much sales do you need to generate before you can cover your fixed costs and variable costs and come out with a profit. In this lesson we will come up with the formula for break-even and we will use an example of running a microbrewery.
In this lesson we will go over one of the first steps that you should undertake when you get your accounting system set up, whether you are doing it with software or some other method. And that is setting up your chart of accounts. This will be an index of the financial accounts that you use for your business and will form the basis of your financial statements.
One of the biggest struggles that many entrepreneurs face is deciding how much they can take on themselves versus delegating tasks and outsourcing what they need to. In this lesson we will look at what you will probably need for your organization and look at the roles of bookkeepers, accountants and tax professionals.