MAJOR OBJECTIVE
The Mind Your Own Business 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, checks and balances required for successful management of any business enterprise.
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 where information is debated and shared.
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.
TOOLKIT:
Useful Budget, Cash Flow and Petty Cash templates, Depreciation Rate tables, Websites, Tax Tips etc.
Section 1Background to Business
Lecture 1Basic South African GAAP
Lecture 2Formats of Income Statement and Balance Sheet
Section 2Sales and Gross Profit
Lecture 3Recording Sales/Invoicing/Order
Lecture 4Maximising Sales Revenue/Sales Mix/Subscription Income
Lecture 5Cost of Sales
Lecture 6Gross Profit, Mark-up and Gross Margin
Section 3Operating Costs
Lecture 7All categories, but with a focus on troublesome costs
Lecture 8Franchise Royalties
Lecture 9Salaries, Salaries Administration, Wages, Software
Lecture 10PAYE/SDL/UIF EMP201 Returns
Lecture 11Depreciation and Tax Allowances
Lecture 12Accruals and Provisions
Lecture 13VAT: Output/Input VAT. VAT 201 Return and Allowable/Disallowable input VAT
Section 4Profit and its Uses
Lecture 14Profit vs. Taxable Income
Lecture 15Timeless Tax Principles – General Deduction Formula
Lecture 16Revenue vs. Capital Expenditure
Lecture 17Company/SBC/Co-Op/CC Tax Rates; Presumptive Tax on Small Businesses
Lecture 18Dividends and STC/Dividend Tax
Lecture 19Retained Income and Growth
Section 5Owners’ Equity
Lecture 20Share Capital/Members’ Contribution
Lecture 21Retained Income
Lecture 22Rights and Responsibilities of Directors/Shareholders/Members
Lecture 23King Commission and Corporate Governance
Lecture 24Legislation Update – Companies, Co-Ops and CCs
Section 6Long Term Debt
Lecture 25Members’/Proprietors’ Loan Accounts
Lecture 26Long Term Borrowing and other Funding Options
Section 7Current Liabilities
Lecture 27Reconciling Supplier Accounts
Lecture 28Sundry Creditors, Provisions and Accruals
Lecture 29Overdraft Management
Section 8Non-Current Assets
Lecture 30Owned vs Leased Assets
Lecture 31Asset Registers
Lecture 32Depreciation and Disposal of Assets
Lecture 33Capital Gains Tax
Section 9Current Assets
Lecture 34Stock
Lecture 35Receiving and Safekeeping of Stock
Lecture 36Stock Levels
Lecture 37Stock Counts
Lecture 38Obsolete and Damaged Stock
Lecture 39Shrinkage Control
Lecture 40Stock Management Ratios
Lecture 41Receivables
Lecture 42Trade Debtors
Lecture 43National Credit Act
Lecture 44Bad Debts and Provisions
Lecture 45Capital & Protection
Lecture 46Cash/Bank
Lecture 47Cash Controls
Lecture 48Petty Cash Management
Lecture 49Bank Reconciliations
Lecture 50Cash Flow Management
