SIALKOT: Small and Medium Enterprises Development Authority (SMEDA), in collaboration with Sialkot Chamber of Commerce and Industry (SCCI), has organised a one-day training program titled “Finance for Non Finance Managers” at the SCCI Auditorium.
The training program was aimed to help SMEs learn the basic financial terminology and key accounting concepts including the flow of money in a business, its accounting and key financial statements (profit and loss account, balance sheet and cash flow).
The teachers explained in detail the key terms like organisational basics, financing, investing, operating activities and business cash flows. Other concepts taught included financial statements, accounting process, journals and ledgers, debits and credits work, accounting equation and accounting cycle.
The training program was a part of the strategy of SMEDA for increasing financial literacy of the SMEs so as to enable them to better manage and control their businesses. In addition increase financial literacy would also be helpful in securing finance from the banking sector.
