WELCOME TO ACCOUNTING BASICS FOR ENTREPRENEURS COURSE-PART 1
We are delighted to welcome you to the Accounting Basics for Entrepreneurs Course-Part1
Researches that have been conducted in many countries reveal that 20% of newly established small businesses burst in the first year of their establishment. 50% disappear within 5 years and only 30% survive beyond the five year period
There are many reasons that contribute to the failure of small businesses within a five year period
One of the reasons for the failure of small businesses is attributed to businesses making losses
To find out whether businesses are making profits or losses, there is a need to prepare financial statements
Unfortunately, many small businesses do not prepare financial statements. In the absence of financial statements, it is not possible to know whether such businesses are making profits or losses
As a business consultant, I have asked many small business owners, reasons behind the fact that they don’t prepare financial statements. Majority of small business owners say, they cannot afford to employ accountants to prepare financial statements.
All in all, businesses are obliged to prepare financial statements, daily, weekly, monthly quarterly and annually. Financial statements are important because they reveal whether businesses are making profits or losses.
Furthermore, financial statements reveal position of business cash flows and also show position of business assets, liabilities and net worth
The Accounting Basics for Entrepreneurs’ course focuses on teaching students how to prepare financial statements.
Course Highlight
- Price: $ 20.00
- Course Type: Online Course.
- Course Content: 4 Sections and 25 lectures
- Lecturer Support: Full lecturer support included.
Course Overview
The Accounting for Basics for Entrepreneurs course covers a comprehensive range of 4 sections and 25 lectures. You’ll have 24/7 online access to study materials, introductory videos, quizzes and lecturer support for up to 3 months.
Who this course is for:
· New business owners who want to understand accounting basics and how it will relates to business functions
· Current business owners who want to understand accounting basics and how they may be able to improve their current processes
· Middle managers who better want to understand accounting principles that could help them better manage their business units
· High school or University students who want to learn more about "real world" accounting and how it relates to small business
· Accountants and bookkeepers who want to better help their small business clients
· Job seekers who want to improve their knowledge of accounting
What you will learn
The Accounting Basics for entrepreneurs’ course focuses on teaching students how to prepare financial statements. Students will learn:
(a) The basics of accounting that is needed for small business owners and entrepreneurs
(b) The main financial statements that are used as barometer to evaluating business performance
(c) We will present to our students the basics of accounting principles, concepts and terminologies
Course Content
The full course content includes 4 sections and 25 lectures as follows:
Welcome Section (2 lectures)
· Welcome video
· How the course works
Income Statement (10 lectures)
Income statement is a financial report which shows a business’s income and expenditures. It also shows whether a business is making profit or loss in a given period.
Income statement calculates net income of a business by subtracting expenses from income. For example, annual statements use incomes and expenses over a 12-month period, while quarterly statements focus on incomes and expenses incurred during a 3-month period.
Cash Flow Statement (6 lectures)
A cash flow statement is a financial report which provides aggregate data regarding cash inflows a business received from its normal operations and abnormal sources. It also includes cash outflows that have been paid for business activities and investments during a given period.
Cash Flows Statement provides vital information about a business. It shows the movement of money in and out of a business. It helps investors and shareholders understand how much money a business is making and spending.
Balance Sheet (7 lectures)
Balance sheet is a financial statement that reports business’s assets, liabilities, and shareholder equity. Balance sheet is one of the three core financial statements that are used to evaluate a business financially. It provides a snapshot of a business’s finances (what it owns and owes) as at the date of reporting
The purpose of balance sheet is to reveal financial status of a business as at a specific point of time. The statement shows what an entity owns (assets) and how much it owes (liabilities), as well as the amount invested in a business (equity)
Importance of the Financial Statements
Income Statement, Cash Flow Statement and Balance Sheet are the main financial statements that businesses typically use; hence, they can help you monitor the performance of your business.
These financial statements are like instrument panel on a vehicle that can help you understand where you've been and where your business is heading.
Entry Requirements
· To enroll on the Accounting Basics for Entrepreneurs course, no experience or previous qualifications is required. The course is available to all students, of all academic backgrounds.
Learners should have a basic understanding of the English language and literacy skills
Assessments
Throughout the Accounting Basics for Entrepreneurs course, students will undergo online assessments to measure how effectively the knowledge is being absorbed.
At the end of each section within the Accounting Basics for Entrepreneurs course, student will take an interactive assessment to assess the knowledge that they have just learnt.
Once all the course’s 4 sections are complete, students will take an online final assessment test, which will generate questions contained within the entire course.
If you don’t pass the final assessment first time around, you can take the assessment again
Tutor Support
As part of the Accounting Basics for Entrepreneurs course you will receive access to our dedicated tutor support service. The academic tutors will be able to provide you with online email support to help answer any questions that you may have, whilst you are studying the course.
Course Format
This course is delivered online through e-Learning. Learners of the course will receive instant access to our interactive learning portal, which offers 24/7 access to the Accounting Basics for Entrepreneurs course, including all course materials
Course Duration
The online Accounting Basics for Entrepreneurs course requires 40 hours to complete the course in full. This is only a guide to the learning hours required and it depends on how quickly an individual can absorb the information. The learning is online so it can be spread out over multiple sessions or done in one session.
Learners will have access to this course for up to 3 months from the date of joining.
HOW THE COURSE WORKS
To enroll on the Accounting Basics for Entrepreneurs course, do the following:
- Click the ‘Enroll Now’ button to begin ordering your course! Pay securely using either a Debit/Credit Card
- Once you are enrolled, you’ll receive instant access to your online course(s) and your login details will be sent via email.
- When you receive these course login details, you can start learning straight away. It’s that simple!
Ready to Enroll
New students should pay the one time stated price for enrollment
After payment is made students will be given joining instructions and will also be briefed on important matters pertaining to the course
For a start, let us explain the content and purpose of the three main financial statements; the Income Statement, the Balance Sheet and the Statement of Cash Flows
Income Statement
Income statement is a financial report which shows a business’s income and expenditures. It also shows whether a business is making profit or loss in a given period.
Income statement calculates net income of a business by subtracting expenses from income. For example, annual statements use incomes and expenses over a 12-month period, while quarterly statements focus on incomes and expenses incurred during a 3-month period.
Cash Flow Statement
A cash flow statement is a financial report which provides aggregate data regarding cash inflows a business received from its normal operations and abnormal sources. It also includes cash outflows that have been paid for business activities and investments during a given period.
Cash Flows Statement provides vital information about a business. It shows the movement of money in and out of a business. It helps investors and shareholders understand how much money a business is making and spending.
Balance Sheet
Balance sheet is a financial statement that reports business’s assets, liabilities, and shareholder equity. Balance sheet is one of the three core financial statements that are used to evaluate a business financially. It provides a snapshot of a business’s finances (what it owns and owes) as at the date of reporting
The purpose of balance sheet is to reveal financial status of a business as at a specific point of time. The statement shows what an entity owns (assets) and how much it owes (liabilities), as well as the amount invested in a business (equity)
Course Curriculum
Hi, I’m Ali Mwambola, the owner of Tan Business Online School
I am a business consultant involved in educating young entrepreneurs on aspects of business establishment and development.
I am a Certified Public Accountant and and Transport Economist by professions.
I have been practicing as business consultant for more than 15 years.
As a business consultant, my area of specialization is business establishment and development.
I have been involved in establishing more than 30 business ventures.
I have also been involved in solving business development problems in several organizations.
Before I became a business consultant, I was privileged to work as General Manager and Managing Director of two large media companies in Tanzania.
Featured Products
Other courses, bundles, and coaching products will be introduced in the near future. The products include a course on business Startup, a coaching program on Accounting Basics for Entrepreneurs and a business startup bundle
