The Professional Women Accountants in Nigeria (PROWAN), Lagos Zone on Friday visited Alade market, Ikeja, Lagos to train the operators of Micro, Small and Medium 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 and receipts collected from buying their goods for sale as well as their bank documents including bank deposit slips.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.
Dr Fowokan said; for you to have access finance, you have to undergo the process of book keeping. It will reveal to you what exactly you’ve bought, sold and the gain you make per day.
She advised the market women that in introducing book keeping to their business and they should 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 as well as not getting aso ebi with business money. She also advised them that all money needed at home or for their personal needs should not be asked from their husband only but they should be able to support.
The PROWAN Coordinator Ikeja Axis, Mrs Aro Oluwatoyin while making her contribution also advised the women in the market to always take proper records and account of their goods to let them know the financial standing of their business
