Financial Statements and their interpretation. Cash flow analysis. Sources of finance, structure of debt (long-term and short-term) and management of working capital. Small business financial needs/issues (including start-up capital). Financial inputs into business plans to include profit and cash forecasts and projected balance sheets. Capital appraisal techniques.
Income Tax and Corporation Tax; Stamp Duty Land Tax; Value Added Tax; Capital Gains Tax and Inheritance Tax; trusts and settlements; tax planning. Business Rates and Council Tax.
To achieve credit for this module, students must be able to:
- Understand how company (to include small business) finance should be structured.
- Interpret financial statements of sole traders and limited companies.
- Calculate and interpret projected figures.
- Prepare and interpret simple capital investment appraisal techniques.
- Advise business owners on the impact of national taxation and suggest practical ways of mitigating the tax burden.
- Advise business proprietors / managers on their liability for local taxation.
Assessments may differ in 2020/21 due to adjustments for Covid-19. Please check Gateway for the latest regulations.
Students should be familiar with the content of at least one of the following:
- Dyson, J.R. (2003). Accounting for Non-Accounting Students. (6th edition). Pearson.
- Kath, N. (2000). Taxation: Theory and Practice. (3rd edition). Pearson.
- Melville, A. (2004). Taxation: Finance Act 2003. (9th edition). Pearson.
- Wood, F. and Sangster, A. (2005). Business Accounting Volume 1. (10th edition). Prentice Hall.
- Atrill, P. (2002). Management Accounting for Non-Specialists. (3rd edition). Pearson Education.