BASE Troyan, Topic 4: “Business Accounting, Financial Planning, Insurance and Taxes”

On June 2, 2021 the fourth module of the Business Academy for Starting Entrepreneurs in Troyan was held. The lecture was dedicated to the topic “Business Accounting, Financial Planning, Insurance and Taxes”, and the participants learned from Ganeta Tsolova how to monitor and analyze the financial performance of their business.

The training passed with the following program:

• Initial capital required

• Business start-up budget

• Monthly business budget

• Operating and fixed costs

• Profit and loss account

• Cash flows

• Company accounting and taxes

• Why is it important to be aware of accounting?

• Accounting obligations

• Accounting documents and storage of accounting information

• Wages and social security

• Types of taxes and tax reliefs

• Return

Serious and complex topics for financial statements, balance sheets and accounting information were presented through many practical examples and tasks divided for different working groups of participants, who presented their results at the end. Of particular interest was the financial planning, as touched on the preparation of the business plan, which will be presented at the final of BASE to a jury.

Module 5 of the BASE program will take place on June 9, 2021 with the topic “Marketing and Advertising” with lecturer Gergana Ivanova, Managing Partner in the advertising agency “The Smarts Group”.

For the lecturer:

Ganeta Tsolova is the owner and manager of a small consulting company for accounting services and tax consulting. She has an economic education from the University of World Economy and is professionally involved in taxes, accounting and finance in the field of tax administration, private sector and public administration. In 2020 Ganeta is one of the finalists in BASE Lovech, where she is developing a project for a small farm for organic greenhouse vegetable production, which has already started. She participates in the BASE program, because she wants to share with the participants his experience in the field of corporate finance and accounting.

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