Newly Updated Course: Accounting for Solopreneurs as Unemployment Soars

The “gig economy” is on the rise, it is estimated that close to 45% of the workforce in North America is now self-employed and more specifically, 40% of Millennials in Canada.  A new course from Knowledge Bureau is providing tax and bookkeeping practitioners with the critical skills to help these new “solopreneurs” in multiple sectors:  builders, retail outlets, importers/exporters and a variety of agricultural ventures as well as non-profits.    

The global financial crisis of 2008 was certainly a trigger for this shift to self-employment, as some of the most educated people in the labour market could not get jobs.  Those between the ages of 25 and 44 were the hardest hit.   However, baby boomers who were not yet ready to retire, or who value flexibility and control of the work they want to do, also emerged as new participants in the gig economy. 

An even greater trigger than the crisis of 2008 has been the pandemic.  As of January 2021, The unemployment rate rose 0.6 percentage points to 9.4%, the highest rate since August 2020 and many employers are reluctant to return to normal staffing levels. Statistics Canada reported that 17%of all businesses laid off half or more of their workforce. With an expected slow economic recovery, many who lost their jobs or who want to take control of their employment future may be considering transitioning to self-employment. 

As individuals navigate the changes and challenges presented by the pandemic, the demand for qualified bookkeepers for their new business ventures is greater than ever. Meet the high demand for qualified practitioners to take the burden of bookkeeping and CRA remittances off their shoulders with a newly updated course from Knowledge Bureau: Accounting for Multiple Business Profiles.

Accounting for documentation and financial statement preparation is more important than ever, with a looming audit presence from CRA, particularly because new business owners must self-assess. The burden of proof, however, lies with them.

Knowledge Bureau can help tax and bookkeeping professionals shore up their technical skills but more important their soft skills in acting as a coach to audit-proof new business filings.

Our courses are particularly important as well for the  training of support staff or providing you with new credentials that will teach you to manage the bookkeeping functions for a variety of companies, using all the modules of the program (with the exception of Payroll) to deliver financial results for the simplest to a complex company.  Using the features of SAGE 50 and Intuit Quickbooks Desktop, learn advanced bookkeeping for a variety of business profiles. 

Course Content:

Chapter 1 | Commonalities of bookkeeping for various business enterprises
Chapter 2 | Advanced Sales Tax Issues
Chapter 3 | Partnerships and Joint Ventures
Chapter 4 | Builders
Chapter 5 | Retail Outlets
Chapter 6 | Importers / Exporters
Chapter 7 | Agricultural Businesses
Chapter 8 | Trusts
Chapter 9 | Other Business Profiles
Chapter 10 | Not for Profits
Chapter 11 | Introduction to Advanced Business Issues