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Mind your own Business Synopsis

MAJOR OBJECTIVE
The programme is intended for business owners and managers who want a deeper understanding of the “bigger picture” of running a business, particularly as regards the practical day-to-day routines, check and balances required for successful management of any business enterprise.
 
COURSE CONTENT
Module A: Background to Business
Basic South African GAAP
Formats of Income Statement and Balance Sheet
Module B: Sales and Gross Profit
Recording Sales/Invoicing/Order
Maximizing Sales Revenue/Sales Mix/Subscription Income
Cost of Sales
Gross Profit vs, Mark-up and Gross Margin
Module C: Operating Costs
All categories, but with a focus on troublesome costs
Franchise Royalties
Salaries, Salaries Administration, Wages, Software
PAYE/SDL/UIF EMP201 Returns
Depreciation and Tax Allowances
Accruals and Provisions
VAT: Output/Input VAT. VAT 201 Return and Allowable/Disallowable input VAT
Module D: Profit and its Uses
Profit vs. Taxable Income
Timeless Tax Principles – General Deduction Formula
Revenue vs. Capital Expenditure
Company/SBC/Co-Op/CC Tax Rates; Presumptive Tax on Small Businesses
Dividends and STC/Dividend Tax
Retained Income and Growth
Module E: Owners’ Equity
Share Capital/Members’ Contribution
Retained Income
Rights and Responsibilities of Directors/Shareholders/Members
King Commission and Corporate Governance
Legislation Update – Companies, Co-Ops and CCs
Module F: Long Term Debt
Members’/Proprietors’ Loan Accounts
Long Term Borrowing and other Funding Options
Module G: Current Liabilities
Reconciling Supplier Accounts
Sundry Creditors, Provisions and Accruals
Overdraft Management
Module H: Non-Current Assets
Owned vs Leased Assets
Asset Registers
Depreciation and Disposal of Assets
Capital Gains Tax
Module I: Current Assets
Stock
  • Receiving and Safekeeping of Stock
  • Stock Levels
  • Stock Counts
  • Obsolete and Damaged Stock
  • Shrinkage Control
  • Stock Management Ratios
Receivables
  • Trade Debtors
  • National Credit Act
  • Bad Debts and Provisions
Cash/Bank
  • Cash Controls
  • Petty Cash Management
  • Bank Reconciliations
  • Cash Flow Management
Toolkit: Useful Budget, Cash Flow and Petty Cash templates; Depreciation Rate tables; Websites; Tax Tips; etc.
 
TRAINING METHODOLOGY
Inputs from the course leader assist learners to relate the theory to practical examples from their own businesses. Comprehensive workbook with case studies and practical examples. Group work information is debated and shared.
 
COURSE DURATION
Course duration is two days. Presented in-company.
 
FOR WHOM INTENDED
Entrepreneurs, Business owners and Managers who want a clear understanding of running a business.