Basics of Bookkeeping Spring 2019
Managing your business’ finances is a primary element in running your business. In this seminar, you will learn about:
- The differences in company income and payroll taxes (at a high level) and owner compensation in for profit tax entities such as proprietorships, S & C corporations, partnerships
- Registering your company with the various state & federal agencies
- Recording your company’s financial transactions: accrual vs cash accounting
- Employee payroll vs. contract labor
- Financial reporting for a company to assist management in decision-making (not just to prepare tax returns)
- What is a balance sheet, profit & loss statement, and statement of changes in cash flow
- Breakeven revenue analysis
- Accounting for start-up expenses
Instructor: Richard Smith has degrees from Johns Hopkins and the U. of Chicago, and is a CMA. He held various management positions with Nabisco, Kraft Foods, and BASF. He participated in 4 private equity buyouts as part owner/CFO. He taught at the university level for 2.5 years. Smith is skilled in business plan development & execution, capital raising, business valuations, M & A, job & standard costing, cash flow projections, financial analysis, accounting, tax.