Course Description
Knowing finance, accounting and tax is more than just for compliance. It helps entrepreneurs to understand the performance of their businesses better, make better decisions, and drive growth. This course will provide entrepreneurs with the key knowledge of compliance, finance, accounting, and tax. It aims to help entrepreneurs comply with the related regulatory requirements, make sound financial decisions and monitor their businesses’ financial health.
Course Outline
- Setting up a Business
- The difference between different entity structure
- Should I set up a company?
- Things that you can DIY and those that need professional help
- Compliance Matters
- What are the corporate secretarial, accounting, reporting, and tax requirements?
- Basic finance functions
- Checklist for minimum requirements
- Income tax and GST basics
- What you should not be doing?
- Manage Finances
- Ways to manage cash flows
- Accounting basics—balance the accounts
- Cash basis vs accrual basis vs tax basis
- Storytelling—interpret financial statements of your business and your competitors
- Monitor your business’s financial health, gaining insight into your business’ performance through financial data
- Financial Planning
- Compare alternatives like an accountant—relevant costing
- Budgeting basics
- Cash runway
- Tax Basics
- Singapore income tax
- Singapore goods and services tax
- Tax planning and savings
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