YoVDO

Financial Record Keeping

Offered By: LinkedIn Learning

Tags

Bookkeeping Courses Income Taxes Courses Financial Reporting Courses Cash Flow Management Courses Financial Forecasting Courses

Course Description

Overview

Accurate record keeping is the cornerstone of a healthy business. Learn to track the finances and taxes for your business in this introductory bookkeeping course.

Syllabus

Introduction
  • Why is financial record keeping important?
1. Create a Qualitative Business Plan
  • Financing a small business
  • Sales forecasting
  • Forecasting expenses
  • Cash flow management
  • Forecasted financial statements
2. Capture Basic Business Data
  • Wasatch Medical Center and paper records
  • A simple spreadsheet
  • Basic accounting software
  • Payroll record keeping
3. Small Business Income Taxes
  • Types of books
  • Business income tax report: US Schedule C
  • Separating personal from business expenses
4. Prepare Financial Reports to Be Shown to Outsiders
  • Reliable financial reports
  • Financial reports for banks, potential investors, and partners
  • Earnings management and user skepticism
  • Auditors
5. Determining the Value of a Business
  • Valuing a family-owned business
  • Using price-earnings (P/E) ratio for valuation
  • Using price-to-book (P/B) ratio for valuation
  • Using price-to-sale (P/S) ratio for valuation
  • Establishing the credibility of income forecasts
  • Managing internal controls
Conclusion
  • Setting up your business for success

Taught by

Jim Stice and Kay Stice

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