The Industry Business Academy (IBA) programme organised by DARE (Darussalam Enterprise) continued with a module on financial management and record keeping yesterday.

Conducted at the iCentre, the module was facilitated by the Brunei Darussalam Institute of Certified Public Accountants (BICPA)-FTMS, while also featuring a product demonstration from BAG Networks.

The proceedings began with a presentation from Martina Tie Suk Huong, General Manager of BICPA-FTMS.

She spoke on various aspects of accounting and bookkeeping, highlighting that it is important for businesses.

She also touched on what investors look at in a finance statement, which includes: number of units sold/customers; annual revenue; cost of goods sold; gross profit; expenses; net profit; and cash balance at the end of the year.

Speaking in an interview, she said that accounting is important for businesses because "it lets you know whether you are able to sustain for the next year."

"A lot of companies, without keeping proper reports, they don't realise that they are making a big loss, and they have a lot of debts. When they close down, they still owe people money, and that's why a lot of companies went into bankruptcies."

Accounting and record keeping is thus fundamental for businesses, she added. "It tells you whether you can sustain your business for the next year, and if you have enough cash to pay your employees."

Next to speak was Dayang Yasmin Patera, Cendana Sales and Support, BAG Networks.

In her presentation, Yasmin spoke on Cendana, an all-in-one platform created by BAG Networks to manage everyday business activities.

She spoke on how Cendana can help businesses, beginning with how it offers all business functions in one system from accounting, sales, purchases, inventory management, HR and many more.

She highlighted that it is accessible online, anytime and anywhere, with users able to access the system on any device with a browser and an internet connection.

She also noted that is has a simple to use user interface that utilises common everyday business language, while adding that it easily generates financial and other analytical reports.

The Industry Business Academy is a small and medium enterprise (SME) development and learning programme developed by DARE. It was created after analysing present day issues related to capabilities and knowledge of the local entrepreneurial environment.

Source:
@BRUDIRECT.COM

by BruDirect.com

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