Basic Accounting Training for Micro, Small and Medium Enterprises (MSMEs)
The Banco Central de Timor-Leste (BCTL) in partnership with Instituto de Apoio ao Desenvolvimento Empresarial (IADE) and the Chamber of Commerce of Timor-Leste (CCI-TL) offers trainings on financial documentation and basic accounting for Micro, Small and Medium Enterprises (MSMEs). This cooperation based on memorandum of understanding (MoU) that was signed in March 2018.
The main objective of this training is to improve entrepreneurs’ managerial skills on record keeping and basic accounting, enable participants to produce financial reports, including, balance sheets, income statements and cash flows.
The basic accounting training for MSMEs covers the following topics:
- Record keeping of financial transactions
- Recording cash and credit transactions
- Accounting benefits to manage the business
- Calculating the business results and preparing the income statement reports
- Preparing a balance sheet and cash flow statements
- Overview of financial management and financial documentation
During the training it also introduce to MSMEs the method to access credit facility from financial institutions such as banking. Financial statements are one of the requirements when MSMEs applying for the credit.