The workshop was aimed at enabling small entrepreneurs to understand the fundamentals of accounting and bookkeeping, thus facilitating small business owners to maintain relevant and reliable records that would help in internal and external decision-making as well as improved access to finance.
The workshop was conducted by ACCA member, Amin Ali. The workshop leader provided practical guidance to small business managers for maintaining cash books, records of inventory, debtors and creditors, maintaining productive working relationships with banks, preparing records of financial positions and performance of business.
The participants appreciated ACCA’s efforts in arranging a workshop that would assist in development of effective accounting records. Arif Masud Mirza, Head of ACCA Pakistan stated that, “the key to survival of small businesses is maintaining liquidity, thus ensuring that cash is being managed effectively and efficiently.” It is, hence, imperative that small businesses maintain dependable accounting records, he said.