Fiontraithe le Gaeilge“Ag baint ciall as chuntasaíocht”

Micheal Mac Giolla Easbuig, A.C.AMac Giolla Easbuig & a Chomh.

Cuntasóir CairteGleann Cholm Cille

26 Aibreán, 2007

Clár

• Ag plé leis an chuntasóir • Leabharchoiméad agus Cuntasaíocht • Téarmaí Cuntasaíochta • Ag léamh Ráitis Airgeadais (Cuntas Brabúis &

Caillteanais (P & L ) agus Clár Comhardaithe (Bal Sheet)

• Dualgaisí Stiúrthóirí Chomhlachta • Léargas ar phacáiste Cuntasaíochta (Sage) agus

Páigh Rolla (Collsoft)

Cuntasaíocht• Cúiseanna go gcaithfear ráitis airgeadais a

ullmhú?• Don Bhanc / Institiúid Airgeadais• Do na Coimisionéirí Ioncaim• Do Oifig na gCuideachtaí (i gcás

comhlachta)• Eagraíochtaí Stáit – deontais agus rl• Duit féin mar dhuine féinfhostaithe nó

stiúrthóir comhlachta le staid reatha agus torthaí bliana a aimsiú agus a mheas

Ráitis Airgeadais

• Financial Statements provide the basic means of business communications at a management level. Without an understanding of financial information management cannot communicate the relative success of its performance.

Cuntasóirí in Éirinn• Chartered Accountants (CAs) are members of

the Institute of Chartered Accountants in Ireland (ICAI), the premier body of accountants which promotes the highest professional services delivered with integrity.

• The ICAI has a membership of some 13,000 of whom 11,000 are based in either the Republic of Ireland or Northern Ireland.

• www.icai.ie

Cuntasóirí in Éirinn• The Institute of Certified Public Accountants in

Ireland (CPA) is one of the main Irish accountancy bodies with in excess of 5,000 members and students. The CPA designation is the most commonly used designation worldwide for professional accountants and the Institute’s qualification enjoys wide international recognition. Its current Membership operates in Public Practice, Industry, Financial Services and the Public Sector and CPAs work in over 28 countries around the world.

• www.cpaireland.ie

Cuntasóirí in Éirinn

• CIMA - The Chartered Institute of Management Accountants - is a leading membership body that offers an internationally recognised professional qualification in management accountancy, which focuses on accounting for business.

 • www.cimaglobal.com

Cuntasóirí in Éirinn

• ACCA (the Association of Chartered Certified Accountants) is the largest and fastest-growing global professional accountancy body with 296,000 students and 115,000 members in 170 countries. We aim to offer the first choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

• www.accaglobal.com

Teicneoirí Cuntasaíochta

• The Institute of Accounting Technicians in Ireland was established in 1983 and has become the leading accounting technician body in Ireland. It currently has over 5,800 students and 4,600 members.

• www.iati.ie www.aat.co.uk

Leabharchoiméad V Cuntasaíocht

• Is obair laethúil / seachtainiúil í leabharchoiméad

• Taiféad ar gníomhaíochtaí laethúla an ghnó

• Ní gá go mbeadh oiliúint phroifisiúnta ag leabharchoiméadaí – duine eagraithe, cúramach, díograsach

• Cuirtear na leabhair chuig cuntasóir ag deireadh na bliana mar bhunábhar na ráitis airgeadais

Leabharchoiméad

Purchases Book to record details of all items purchased

Cheque Payments Book to record details of payments for Purchases

Sales Book to record details of Sales

Cash Book (Income Book) to record details of money received for Sales

Creditors Ledger – to record details of transactions in respect of each supplier to my company

Debtors Ledger – to record details of transactions in respect of each person / company to whom I sell

Plean Gnó

Plean GnóA business plan is a document that summarises

the following points about your business:Where it has come from • Where it is now • Where it is going in the future • How it intends to get there • How much money it needs to fulfil its plans • What makes it likely to succeed • What threats or disadvantages must be

overcome on the way.

Struchtúir Gnó

• Trádalaí Aonair

• Unincorporated Entity / Coiste Forbartha

• Páirtíocht

• Comhlacht Teoranta– Comhlacht le scaireanna– Comhlacht faoi theorainn rathaíochta

Tradalaí AonairBuntaistí

• No legal formalities compared to other structures.

• The sole trader / unincorporated entity is not required to register accounts with any body apart from the usual PAYE / PRSI and income tax requirements, therefore confidentiality is maintained.

• The income from the business is personal income and most business expenses can be offset against it for tax purposes. The tax is paid at personal rates.

• Total responsibility for the business is in the hands of the owner.

• The relative ease of winding up the business / activity

Mí-Bhuntaistí

• The owner is personally liable for all debts of the business. Coistí???

• Since there is only one owner of the business, there is a limit to the amount of capital that can be raised for operations. Many may stay small because of financial restrictions.

• The life of the business depends entirely on the owner

Páirtnéireacht ( & Co.)

A partnership is defined in legal terms as ‘the relation which subsists between persons carrying on a business, with a view to profit’. In essence, it is an extension of the concept of the sole trader, which covers cases where two or more people join together to start a business. Partnerships can have up to twenty members, some of whom may be "sleeping partners", who have contributed capital to the enterprise, but who have no say in the running of the business.

• Greater Financial Resources• Partnership Agreement• Improved Decision Making• Privacy Maintained

PáirtnéireachtMí-bhuntaistí

• All partners are liable for the debts of the business on a joint and several basis.

• While all partners may have a say in the running of the business, managerial problems may arise.

• Unless otherwise agreed, the consent of all partners is needed before a new partner can be introduced.

Comhlacht Teoranta

• A private company limited by shares: The members' liability, if the company is wound up, is limited to the amount, if any, unpaid on the shares they hold. The maximum number of members is 50.

Comhlacht Teoranta

• A company limited by guarantee not having a share capital: As this is a public company, there must be a minimum of seven members. The members' liability is limited to the amount they have undertaken to contribute to the assets of the company, in the event it is wound up, not exceeding the amount specified in the memorandum.  Many charitable and professional bodies find this form of company to be a suitable vehicle as they wish to secure the benefits of separate legal personality and of limited liability but do not require to raise funds from the members.

Comhlacht Teoranta

BuntaistíLimited liability - shareholders are only liable

to lose the share capital they subscribe. • Greater company pension scheme can be

secured. • Greater ability to raise finance by the issue

of shares and also under the Business Expansion Scheme.

• Ownership of the enterprise is spread over a greater number of people.

• Personal tax advantages can accrue.

Comhlacht TeorantaMí-bhuntaistí

• Limited liability may be negated in practice by lenders seeking personal guarantees.

• Adhering to legislation contained in the Companies Act can be costly and time consuming.

• The need to prepare and file audited accounts. • The payment of additional taxation when

accumulated profits are withdrawn from the company.

Ráitis Airgeadais

• The two key financial statements are

• Income Statement

• Balance Sheet.•  

Income Statement

• Aka Profit & Loss Account / Income & Expenditure Statement / Operating Statement

• How much profit was earned last year?

• Discusses the flow of income & expenditure in a specific period of time (normally 1 year)

• The Income StatementRevenue – Expense = Income (Profit)

Leagan Amach P & L

• Sales / Turnover

• Cost of Sales (ie cost of Materials or stock being sold)

• Gross Profit

• Expenses & Overheads

• Net Profit

Clár Comhardaithe / Balance Sheet

• How much is the business worth - a picture of the business’ financial position at a point in time.

Leagan amach ar an Chlár Comhardaithe

Sócmhainní Dochta / Fixed Assets xxxx

Dliteanais Reatha / Current Liabilities xxxx

xxxxDliteanais Fadtéarmacha / Long Term Liabilities xxxx

Cúlchiste / Shareholder Funds xxxx

Total Assets xxxxx Liab + Owner's Equity xxxxx

Sócmhainní Reatha / Current Assets

Clár Comhardaithe / Bal Sheet

€Sócmhainní Dochta / Fixed Assets xxxx

xxxx

MinusDliteanais Reatha / Current Liabilities xxxx

MinusDliteanais Fadtéarmacha / Long Term Liabilities xxxx

Net Assets xxxxxxx

Cúlchiste / Shareholder Funds xxxx

Shareholders Funds xxxxxxx

Sócmhainní Reatha / Current Assets

Suímh Idirlín úsáideacha

• www.companieshouse.gov.uk

• www.cro.ie

• www.odce.ie

Téarmaí Cuntasaíochta• Fiachnóirí (Debtors) – People who

owe you money (DOUM)

• Creidneoirí (Creditors) – People to whom you owe money

• Fabhraithe (Accruals) = estimated expenses at end of year for which you haven’t yet received an invoice

• Réamhíocaíochtaí (Prepayments) = Services paid for but not consumed at year end

Dímheas / Depreciation• The decrease in the value of any

type of tangible property over a period of time resulting from use, wear and tear, or obsolescence