Why do we need accounting records?

	Sole Traders
	Partnerships
	Limited Companies

 

Different Types of Ledgers

	Sales ledger
	Purchase Ledger
	Cash Book
	Petty Cash Book
	Nominal or General ledger

 

Producing Accounts

	Profit & Loss Account
	Trading Account
	Balance Sheet

 

Setting up a new business

	Type of business
	Business Name
	Location
	Funding
	Producing a Budget
	Producing a cash flow forecast
	Producing a Business Plan

 

Starting up the Business

	Opening Balance Sheet
	How the Balance Sheet develops

 

The Balance Sheet in detail

	Fixed Assets
	Capital Account
	Current Assets
	Current Liabilities

 

	Accounting transactions
	Profit and Loss Account
	Balance Sheet
	Looking at our completed accounts in detail.