Starting Your Business
The right foundationsUnderstand Sole Trader, Limited Company and Partnership structures, the advantages and disadvantages of each, and the tax responsibilities connected to them.
AccountAbility gives small business owners a clear understanding of business structures, tax, record keeping, VAT and financial accounts. The course is designed to make the financial side of business easier to follow without training you to become an accountant.
Most accounting education is designed for people working towards a professional qualification. Small business owners need something different: practical knowledge that helps them understand what is happening inside their own business.
AccountAbility brings together the questions business owners ask most often and explains them in clear language. It is not intended to replace an accountant. It is designed to help you become more informed, maintain better records and make stronger decisions.
The course begins with the practical decisions involved in starting and organising a business, then develops towards VAT, accounting principles and understanding financial statements.
Understand Sole Trader, Limited Company and Partnership structures, the advantages and disadvantages of each, and the tax responsibilities connected to them.
Learn how to maintain accurate records using a straightforward cashbook or spreadsheet, organise financial information and understand which business expenses may be claimed.
Understand what VAT is, when a business may need to register and how charging or reclaiming VAT affects pricing and financial planning.
Build a clear introduction to the accounting equation, debits and credits, double entry bookkeeping and the way financial statements are created.
Learn how to read a Profit and Loss Account and Balance Sheet and understand what the figures reveal about performance, costs and the financial health of the business.
Each stage builds on the last, so the course feels connected rather than like a collection of unrelated accounting lessons.
Begin with business structures, tax responsibilities, record keeping and expenses so the essentials are understood first.
Develop a clearer understanding of VAT, registration and pricing so important responsibilities feel less uncertain.
Move into accounting principles and financial statements so the numbers can support better business decisions.
No previous accounting study is required. The course is for people who want to understand their responsibilities, organise their records and make more sense of the reports they receive.
AccountAbility focuses on the knowledge that helps an owner understand and operate their own business more effectively.
Professional courses naturally cover detailed theory, formal processes and qualification requirements. Much of that material is valuable for an accounting career, but it may not answer the immediate questions a small business owner has.
The course concentrates on the structures, records, taxes, accounting principles and financial statements that affect everyday business decisions. Complex ideas are explained in practical language and connected to real small business situations.
The course is delivered online and designed to fit around the demands of running a business. Each module develops a specific area of understanding without making the learning feel unnecessarily technical.
Start with the structure and responsibilities of a business before progressing into more detailed subjects.
Follow the course in order so each subject supports the next, or return to a particular topic when it becomes relevant.
Use what you learn when maintaining records, reviewing reports, planning ahead and speaking with your accountant.
Work through five connected modules covering business structures, record keeping, expenses, VAT, accounting principles and financial statements.