Trainer highlights importance of accounting skills in SMEs

LACK of basic accounting skills training to enrich people in small-medium business activities in the country is hindering growth, according to Lhands Consultancy principal trainer Phillip Kapal.
Kapal said there was a need for more accounting training for business people in informal sectors.
He said most small to medium businesses failed to prosper because of a lack of basic bookkeeping skills crucial for businesses to thrive.
Kapal said Lhands Consultancy was conducting a mind your own business (MYOB) training recognised internationally to enrich people in business start-ups.
“MYOB Australia certified the training we conduct tailored for people already in business or even business students,” he said.
The one-day course conducted in Lae recently was attended by 20 people covering topics such as budgeting and cash flow.
The initial step is the business set-up and data entry component (income and expenses) which covers credit basis purchases, then the reporting component for compliance issues.
“As a recognised partner of MYOB Australia, we produce quality trainings that are internationally recognised so I encourage businesses to partner with us for trainings,” Kapal said.
“We had two trainings in Port Moresby and the turnout increased with the second training, so we decided to tap into Morobe to see its potential.”