By Samson Olawuyi
The Professional Women Accountants in Nigeria (PROWAN), Lagos zone on Friday visited Alade market, Ikeja, Lagos to train the operators of Middle and Small Scale Enterprises on the techniques of bookkeeping and its importance.
In her speech, the guest Speaker at the Accounting outreach with the theme, “Proper bookkeeping as a tool for Business financing, Dr. Titilayo Fowokan identified bookkeeping as a way of keeping all small documents or receipt used in buy things and also used in the bank including bank deposit slip.
While explaining further in layman’s language, she defined bookkeping as the way we keep records of transactions we engage in on a daily basis.
Mrs Fowokan said; for you to have a finance, you have to undergo a book keeping, it will reveal to you what exactly you’ve bought, sell and gain per day.
She adviced the market women by introducing book keeping to their business and not to mix their business money with their personal money.
On her part. the National Chairman of PROWAN, Princess Eleamanya Ebilah defined bookkeeping as the recording of financial transactions done in their various shops or organization. She said it’s also the part or process of accounting in the business and organization.
Mrs Ebilah said there are a lot of financial problems in Nigeria, some of which the market women are facing nowadays, and the solution to this financial problems is by starting to include book keeping to their daily routine.
In her submission, the Zonal Coordinator of PROWAN Southwest, Mrs Olamide Fagbulu urged market women at Alade market to begin book keeping in their shops from that day and she explained to them difference between personal money and business money i.e (Aso ebi & business money), she also advised them that all money needed at home or for their personal needs should not be asked from their husband.
The PROWAN coordinator Ikeja axis,Mrs Aro Olutoyin while making her contribution also advised the women in the market to always take proper records and account down their goods to let them know the financial standing of their business,
