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Accounts: understanding your financial health

Organiser: SEMLEP Growth Hub & Digital Remit



Date & Time: 14 Jun 2021 - 2:00 pm-4:00 pm

Contact Email: [email protected]

What will we cover?

We introduce key financial concepts, demystifies the terminology, and builds confidence in
interpreting your accounts.

It’s a highly practical discussion that emphasises the importance of accounts and sound
finance to every business and where to get help.

We start by looking at accounts: what they are, why they matter, where to record, and who
needs to know.

We then explain the need to keep accurate records, before explaining the difference
between cash and accrual methods.

It’s then time to turn to HMRC requirements across PAYE, National Insurance, VAT, and
Corporation Tax before looking at the important issue of allowable expenses.

We look at Making Tax Digital and VAT MOSS, before ending by highlighting a number of
resources to help SMEs manage their finances day to day.

The course then moves on to consider the three essential statements: cashflow, profit and
loss, and the balance sheet. Introducing you to useful ratios to analysis financial information
We end with a brief look at how to get finance: types to consider, the pros and cons, what it
costs, and how to secure it!

What will I learn?

• what accounts are and why they matter
• HMRC requirements for filing
• the basics of the three financial statements: cashflow, P&L, and balance sheet
• interpreting financial statements – for your company and others
• simple ratios that will improve your financial decision making.

Who should attend?
Any entrepreneur, director, or manager who is keen to understand their accounts.
The course consists of pre-recorded material, which you can work through at your own pace,
followed by a live two hour webinar to apply what you’ve learned to your own business

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