Budgets and Financial Reports


Financial literacy of basic accounting concepts is one of the key skills you need to have as you develop your career. Our Basic Bookkeeping course is for you if you are running a small business, managing departments in large companies or starting out on a career in accounting and looking for a glimpse into your future worklife. You will learn the basic terms and concepts that will stand you in good stead for any future career as well as your personal life with financial planning matters.

Study our course in the way you want. In small units or in one. Synchronise your learning between any device and remember and track your progress. Study and answer questions at your convenience and at the end of the course, if you answer more than 80% of the questions correctly, qualify for a certificate of achievement. You can even log your CPD hours.

Your Course

By the end of this course on Budgets and Finance, you will be able to:

  • Understand the common language of the finance function
  • Know how to create and manage budgets and all the associated terminology
  • Know how to read financial statements
  • Know all the mechanisms and ratios involved in budgeting and forecasting

Throughout the course you will develop key skills as you cover the following topic

  • Basic accounting & finance terminology and meaning
  • Keep track of your business through key reports and documents
  • Understand financial planning, budgeting and control techniques

Prior knowledge

This course is designed for anyone in or looking to enter the management and legal/corporate governance sector.  Because of the technical nature of the content and not being written for simplification, ideally you should be B2/C1 level on the CEFR by the time you’re ready to start this course.

As you develop your career, there will be a constant requirement to not only refresh and update existing technical learning but also to develop new skills and ways of thinking and behaving.

Technical Skills

Whether you’re in production, distribution, sales, finance, human resources or management your technical skills will always need to keep up with the latest developments in technology and change. The learning for this will generally come from your peers, industry trends and specialised training.

New skills

However, as you move up in seniority through an organisation or become and entrepreneur, you will be faced with learning a much wider array of skills. You will need to learn how to be a generalist but with the ability to look at the whole of a business and how it all interlocks.

People Skills

Most importantly, you will need to master your own behaviours and character and emotional intelligence in order to influence, inspire and bring people along with your vision.

Your career, personal and professional development should never stop, whether you are learning because of a company or professional body requirement or whether you are just wanting to grow.


We have many more courses for your business or organisation. Get in touch about how to get our courses available to your organisation or fellow learners.

Part 1: Getting Started

  • Welcome
  • What you’ll learn
  • How it works

Part 2: Basic Terminology

  • Balance sheet
  • Assets & liabilities
  • Equity
  • Income statement
  • Revenue & costs of goods sold
  • Expenses
  • Accounting period
  • Case Study
  • Review questions

Part 3: Basic Terminology

  • Accounts receivable
  • Accounts payable
  • Depreciation
  • General ledger
  • Interest
  • Inventory
  • Journals
  • Payroll
  • Trial Balance
  • Case Study
  • Review Questions

Part 4: Accounting methods

  • Cash
  • Accrual
  • Differences between cash and accrual
  • Case Study
  • Review Questions

Part 5: Keeping track of the business

  • Accounts payable
  • Accounts teceivable
  • The journal
  • The general ledger
  • Cash management
  • Case Study
  • Review questions

Part 6: The balance sheet

  • The accounting equation
  • Double-entry accounting
  • Types of assets
  • Types of liabilities
  • Equity
  • Case Study
  • Review questions

Part 7: Other financial statements

  • Income statement
  • Cash flow statement
  • Capital statement
  • Budget v actual
  • Case Study
  • Review questions

Part 8: Payroll accounting terminology

  • Gross wages
  • Net wages
  • Employee tax withholding
  • Employer tax expenses
  • Salary deferrals
  • Employee payroll
  • Employee benefits
  • Tracking accrued leave
  • Government payroll returns/reports
  • Case Study
  • Review questions

Part 9: End of period procedures

  • Depreciating your assets
  • Reconciling cash
  • Reconciling investments
  • Working with the trial balance
  • Bad debt
  • Posting adjustments and corrections
  • Case Study
  • Review questions

Part 10: Financial planning, budgeting and control

  • Reasons for budgeting
  • Creating a budget
  • Comparing budget to actual expenses
  • Case Study
  • Review questions

Part 11: Auditing

  • What is an audit?
  • When and why would you audit?
  • Internal
  • External
  • Case Study
  • Review questions

Module Twelve: Closing Thoughts

  • Words from the wise
  • Re-cap
  • Your results
  • Further reading

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