Focus Topics
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This is part of Project Instill where I teach my kids (12 and 10) on business basics.
As I started teaching my kids, I started learning myself. Below are the key topics that I have spent time with the kids on.
The objective is to provide a simple and concise understanding of concepts.
Entrepreneurial Mindset
- The Ideal Characteristics and Skillsets for Tomorrow's Entrepreneurs
- Financial Literacy for Children
Accounting
- Basics of Accounting
- What are Expenses in Accounting?
- What are Revenues in Accounting?
- What is Profit?
- What is Tax? Why pay Tax?
- How does a company pay Tax?
Bookkeeping
- What is Bookkeeping?
- Invite user to Xero for Bookkeeping
- Recording an Expense in Xero
- Recording an Expense of different currency in Xero
- Recording an Expense with multiple line items in Xero
- Recording a Refund in Xero
- Bank Reconciliation in Xero
- Reconciling the sales invoices
- Recording Revenue in Xero
Entity Structures
- What are the different structures?
- Setting up a Private Limited Company? What is Pty Ltd?
- Setting up a Trust
- Setting up a Self Managed Super Fund (SMSF)
- Purchasing property in a Trust
- Trust and Holding Company Structure