DTI-Laguna and DOLE conduct seminar on financial management: Basic accounting and bookkeeping

Calamba City — With a collaborative effort to empower trade unions, the Department of Trade and Industry (DTI) and the Department of Labor and Employment (DOLE) under the Workers’ Organization Development Program (WODP) conducted training about Financial Management: Basic Accounting and Bookkeeping, which took place at Hotel Marciano, Calamba City, Laguna, on June 11, 2024.

A total of forty (40) trade union members from different companies across Laguna participated in the said activity. The topic on Financial Management: Basic Accounting and Bookkeeping was discussed by Mr. Kent Arvin Cainto, Negosyo Center Business Counsellor at DTI-Laguna. He started the training with an energizer to prepare and help participants be more alert and active followed by insights about accounting and bookkeeping.

After the introduction on what accounting and bookkeeping is, Cainto discussed financial recording and financial statements. He shared the importance of familiarity with the uses of account titles, record keeping and its benefits, forms that can be used for recording (i.e., cashbook, sales on credit, and purchase on credit), as well as different useful financial statements (i.e., balance sheet or statement of financial position, income statement, and cash flow statement).

Within the discussion, he further incorporated two activities: first is to show how important recording is for a business and the benefits of practicing it and second is a group activity providing a practice set on a small business recording on a daily basis with a simple computation.

Moreover, Negosyo Center Business Counsellor Kim Carlo Palacio talked about Consumer Education, which gave the trade unions knowledge on their rights and obligations as consumers. This is also part of DTI-Laguna’s mission to empower consumers.

This activity is part of the initiative of DTI-Laguna’s ongoing commitment to give consumer and business information to Laguna’s entrepreneurs, both potential and existing (KADCainto, DTI-Laguna). ♦

Date of release: 21 June 2024