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Grab a sandwich and learn from the best! On the last Friday of each month, we will run a session led by either the ICB learning team, or one of our trusted training providers. The sessions will cover some of the fundamentals of bookkeeping – and vary with a deeper dive on more complex subjects. There will be an emphasis on practical skills that will enhance your everyday working life. These informal sessions are also an opportunity for you to pose your questions, and suggest future topics for further analysis.
Using draft accounts constructively: cash flow management.
As we move towards Making Tax Digital (MTD), the bookkeepers’ unique relationship with the business owner will give a great opportunity to support the business proactively.
Draft accounts, after adjusting for such things as accruals, depreciation and bad debts tell us a lot about the business but most of it is backward looking, with hindsight.
The profit or loss summarises the effect of trading activities throughout the last year, accounting for all expenses that supported that activity.
The balance sheet shows the totals of what we own and what we owe at the end of that year of trading.
Your studies and exams to achieve membership include some analysis of those financial statements using ratios.
This session will take you deeper into the use of ratios than the syllabus does. That deeper understanding of what the ratios tell you and how they are used should help you to understand their purpose and, importantly, how you can use them to provide insight to a business owner. In particular, we will look at identifying concerns about the business’s ability to generate cash.
