What’s covered:
- Management and statutory accounts and reconciliations
- Profit and loss, accruals concept and exploding cost of sales
- Why the balance sheet exists
- Balance sheet captions and commercial meaning (from cash to deferred tax to provisions)
- Making our balance sheet more useful
- How the profit and loss and balance sheet combine to create a cash flow
- Cash flow impact of the movement in working capital
- Production of simple accounts from a mini business operating cycle
- Key integrity checks
- An automated system of accounting using debts and credits
- T-accounts / cork screw approach to balance sheet captions
- Value added tax and corporation tax
- Other accounting topics e.g. intercompany matrices and distributable reserves
- Full accounts preparation using a range of simple transactions
- Judgemental accounting policies and diligence areas for the profit and loss and balance sheet
