Who should do this Course?

Contractors who run their own business and need to record and interpret their financial records. It provides participants with the skills to properly identify their assets, liabilities, profits and business equity. The course also simply explains the preparation of the BAS statement for GST.

What are the Course Objectives?

At the end of this course you will be able to:

• understand what transactions are and how to record them;
• record transactions into four books of prime entry;
• develop a bank reconciliation statement from the bank statement and cashbooks;
• summarise the records into the general ledger;
• prepare a trial balance from the general ledger;
• calculate the profit and loss of a business by preparing and analysing the business profit and loss statement;
• prepare and analyse the business balance sheet and determine the business worth;
• confidently create business strategies from the analysis of the financial statements of your business.

Course Content

Module 1: The bookkeeping process
Module 2: GST and the BAS
Module 3: Controlling your business overheads
Module 4: The profit and loss statement and balance sheet

Assessment

Submission of simple financial statements and brief analysis of a hypothetical business.