Financial management and bookkeeping for SME in Iloilo City PDF Print E-mail
Friday, 05 September 2014 00:00

 

As part of their SME (Small Medium Enterprise) Roving Academy programs, the Department of Trade and Industry (DTI)-6 Regional Office conducted a Bookkeeping Training and Basic Financial Statements for business people in Iloilo City last September 2 and 3, 2014 at their training conference room.  It was a seminar workshop conducted by Athena Business Solutions, an international business training and consultancy company based in Iloilo City.

Mutya Eusores, DTI’s Trade and Industry Development Specialist, (TIDS) said this financial program aims to provide their clients (the participants) the right entrepreneurial mindset and attitude to establish and grow their business with the right financial management. Handling properly business income and expenses is often being neglected and not given importance by local entrepreneurs, hence, the training in this area was recommended.  What could cost more than thousands of pesos to learn financing skills, this training was given for free with complete training materials and sumptuous foods.

“Intimidating” accounting terms liked credit, debit, assets and liabilities were defined in simple layman’s term and made it easier for the participants to understand and comprehend. Even if they were divided into groups, each one was given the chance to ask questions and share their experiences in how they handle their business finances.

And in between lectures and discussion, the participants went into actual work of bookkeeping and proper accounting of all income, expenses, assets and liabilities of a business model. They were taught and experienced the actual work of bookkeepers and accountants.  They journalized, posted and summarized financial transactions. They learned the true value of assets, computed and appreciated income statement, cash flow, balance sheet, and owner’s equity.

Thou the 2-day learning experience do not qualify them to be a bookkeeper or accountant and prevent them from hiring these professionals, they now know how to read and interpret financial reports and tell how much net profit they really made. They are now more confident of projecting their income, budget, expenses, and sales.  Even paying the due and right amount to BIR!

Though I am not an accountant, I was privileged to co-facilitate this seminar of Athena.  I took charge of handling the participant’s concerns in running their business as well as address business issues and challenges affected directly or indirectly by their financial status. I represented High Magnitude Consultancy (HMC), a Zamboanga-based business consultancy, where I am a management and business consultant.  Athena and HMC have merged into one company this year.

The main facilitator was Rodelin Malones, Athena’s Managing Partner. A well respected accountant, Rodelin is an international speaker and consultant. She is a licensed trainer of CEFE (Competency-based Economics thru the Formation of Enterprises), a recognized enterprise management development expert. She also belongs to the Association of Training Institutions for Foreign Trade in Asia and the Pacific. Rodelin has conducted various seminars here and abroad in coordination with government officers and private organizations like GTZ of Germany, CIDA of Canada, and World Bank.

Miles de Asis, a young and dedicated accountant by profession, was also our partner facilitator in this financial event. She is a professor at Central Philippine University who is presently taking her Master in Business Administration. She has been mentored and invited by Athena to be its resident auditor, and as one of its resource speakers and trainers. She is also a licensed real estate broker.

Aside from the free financial training, the participants were encouraged to apply what they learned and are given a 30-day free consultation by Athena and HMC. The other SME Roving Academy programs are costing and pricing, labor laws, BIR matters, packaging and labeling.

Proverbs 4:11-12 "I instruct you in the way of wisdom and lead you along straight paths. When you walk, your steps will not be hampered, when you run, you will not stumble."

By: Dante Corteza

Last Updated on Friday, 05 September 2014 14:26