Hello dear participants
Book keeping is that part of accounting which is concerned with the recording of data,this will assist entrepreneurs to work out how much profit or loss has been made by the business during a particular period.
Dear all Thank you for these lively discussions and valuable contributions. It is clear that we are all agreeable that book keeping is very important for youth enterprises. And also that Facilitators need to be well grounded in the conceptual knowledge on Book keeping. additionally that facilitators need to develop innovative ways of maintaining the interest of the youth in this topic.
As we wind up this dicussion, let us ponder on how book keeping is linked to the overall financial management in the enterprise.
Book keeping is basically recording each and every transaction in a business
Dear fellow participants
As the name implies, bookkeeping is keeping a record (in a print or electronic form) of all transactions pertaining to a business. In fact, the importance of bookkeeping cannot be overlaboured, because the success or failure of any entrepreneurship venture is a fuction of how well records have been kept. In fact failure to keep record of transactions of a business is a recipi for business failure.