Course Description

90 minutes of Video, Documents and Software based training regarding the recording of 8 types of Documents, 9 Transactions that generate 18 Entries. Plus the skill to extract the Trial Balance, Profit and Loss account & Balance Sheet. Using a Free Accounts App on Android. https://play.google.com/store/apps/details?id=com....

This training may suffice for Smaller Entrepreneurs or Business Owners. However, it’s just introductory for Accounts Teachers, Tutors, Accounts Students, and Accounts Graduates. It’s designed for anybody since there is No Entry Requirement. However, some knowledge about Receipts, Invoices, Loan Agreement, Bank Deposit and Withdraw Slip, plus Payment Vouchers is helpful.

The Simplicity and Short Training Period are based on the fact that UK Tax Authorities accept a Short Tax Return for Small Businesses whose turnover is less than £82,000 and are Not Vat Registered. There is No need to Classify Expenses. All the Expenses are listed or recorded using a single form number 2. All the Incomes are listed or recorded using form number 1.

Most Small Businesses don’t sale on Credit. So they are only required to declare Cash Sales and Purchases, excluding Credit Transactions. And this follows the Cash Accounting system, as opposed to Traditional Accounting. Using the Simplified Accounting system, Fixed Assets that are used for upto 2 years should be written off as Expenses in the Year of Purchase.

So the Short Tax Return submitted by Small Businesses focuses on Cash Incomes and Expenses. However, they are still required to prepare Financial Statements, their Supporting Reports, plus the Source Documents. All the basics are covered as listed below;

  1. App Overview & Settings
  2. Money Capital Invested
  3. Loan and Repayment
  4. Cash Sales
  5. Cash Expenses
  6. Cash Deposit
  7. Cash Withdraw
  8. Personal Cash from Business
  9. Tax Paid
  10. The Trial Balance
  11. The Profit and Loss
  12. The Balance Sheet
  13. Practice Documents
  14. Self Evaluation
  15. Course Evaluation

With the abundance of software, we only need to identify, interpret and know how Reports are prepared. We don’t need experience in their manual preparation. 3 major reports are covered.

FCCA

Moses Carson Bakaluba

Fellow of the ACCA, DBA, BA/ Educ,A Practicing Accountant with many years Experience27 Years Experience Teaching Theory and Practical AccountingTaught at High schools, City College Coventry, and Halifax University, Birmingham, UK Published Author with several Accounts titlesAdministrator at the Academy of Practical Accounts (APA), UK.APA is tasked to provide Practical Accounts Training, to address the shortage of Training Facilities in the work environment.

Course curriculum

  • 1

    Mobile Accounts 90 Minutes

    • Landing Page

    • 1 Introduction to Mobile Accounts

    • 2 App Overview and Settings

    • 2a Source Documents

    • 3 Capital Invested by Owner, its Recording

    • 4 Loan and Repayment Recording

    • 5 Sales Recording

    • 6 Expenses Recording

    • 7 Cash Deposit Recording

    • 8 Cash Withdraw Recording

    • 9 Drawings Recording

    • 10 Tax paid Recording

    • 11 Trial Balance

    • 12 Profit and Loss Account

    • 13 Balance Sheet

    • 14 Practice Documents

    • 15 Self Evaluation

    • 16 Course Evaluation

    • 17 Next Level Training