From WikiEducator
Jump to: navigation, search
Road Works.svg Work in progress, expect frequent changes. Help and feedback is welcome. See discussion page. Road Works.svg

A big welcome to you. This is the second of five modules on the IPYET 2011 Online programme. The first module set the tone for the discussions we will have during these sessions and the residential programme. Module 2 takes us further up the chain on entrepreneurship training by exploring some of the critical elements during an example workshop. While the basics of what a business is, why start your own business, types of enterprises, etc. are the bedrock of a solid entrepreneurship training, it is not a lost fact that teaching young people bookkeeping, costing, finance, and numbers in general is a daunting challenge. This very often goes beyond being a “leaner challenge” to that of a great challenge to many trainers themselves.

Are all entrepreneurship trainers good at costing, bookkeeping, or finance? Definitely not! Are they expected to be? Well, most learners may say yes, and a lot of trainers may agree, but the bottom line is that, you don’t need to know everything! This however doesn’t help many trainers as the burden lies on them to teach every aspect of the entrepreneurship programme. The result therefore, very often, is a rush through the course, or avoiding it completely to the detriment of the young entrepreneur and the programme at large.

Numbers, the Great Challenge?

Who wouldn’t say yes? I know I would, and so will many more young people than you can imagine. The challenges come in several forms. Consider the following case module:

<<insert case capsule here>>

The case capsule above as illustrated from an adaptation of Genny Jones’ blog post depicts several portions of the typical situations many trainers face. The circumstances here may however be relatively different to yours – you train more than 10 people at a time (mostly); they are mostly young and have had no business experience before; they are generally not looking forward to becoming accountants right after your training; and you normally have far less than 3 days to teach costing, bookkeeping, and financial management together. However, several similarities exist – many young people you train may not have calculators, far less know how to use them; very few participants will say they “love working with figures”; and expectations are very high.

Key Questions By the time you finish the online discussions on this module, you should have explored various thoughts and questions:

1. How important is proper record keeping to the young entrepreneur? 2. How important is proper product and service costing to the young entrepreneur? 3. How important is proper management of finances to a business? 4. What are the key elements in delivering a bookkeeping training? 5. What challenges do learners face in understanding the topic? 6. What challenges do facilitators face in delivering the topic? 7. What methods can be employed to improve delivery by facilitators and understanding of learners? 8. What are the sources of business finance? 9. What is the importance of financial prudence to the youth enterprise?

How this module is organised The are two sub-modules. Each sub-module can be organised as a stand-alone course.

Module 1.1: Bookkeeping for Youth Entrepreneurs explores the traditional concepts of bookkeeping. The importance of “books” to a business are explored. The focus of the discussions however stresses on what elements need to be touched on during training, the challenges faced by both the leaner and the facilitator in this area, and approaches to better delivery and learning of the topic. A key area of discussion will be the “participatory approaches” needed to ensure effectiveness of the facilitator and the training programme.

Module 1.2: Financial Management for Youth Entrepreneurs speaks largely for itself. Two key topics – Finance, and Management – come together in a lovely symbioses to find itself placed at the heart of every business. Sources of finance and the attributes of each are explored. Participants are challenged further to explore newer and more innovative avenues of business financing to introduce their potential youth entrepreneurs to. Emerging concepts of “social lending” or “social investments”, “venture capital funding”, may be discussed. The planning, organizing, leading, controlling, and reporting of resultant funds of the youth enterprise are then discussed. Issues on financial systems and procedures including control mechanisms, separation of personal (or family) and business finances, and financial statements and reports are discussed.

Your moderator for both discussions, Naomy Lintini, with her vast experience on this theme has structured a series of discussion pointers during the online sessions. Her discussion brief should be patiently and meticulously read and digested by every IPYET participant before the online discussions begin.

General Recommended Readings: E-How, How to Teach Bookkeeping http://www.ehow.com/how_4422362_teach-bookkeeping.html accessed 12 February 2011

International Finance Corporation (IFC) SME Toolkit http://www.smetoolkit.org Lomax, P.S., and Agnew, P.L. (1930). Problems of teaching bookkeeping: a classroom manual of practical helps for teachers of this subject in public and private secondary schools, and in teacher-training institutions. New York, Prentice-Hall Money Instructer.com, Accounting Lesson Plan: Record Keeping and the Accounting Process. http://www.moneyinstructor.com/lesson/accountingprocesslp.asp assessed 15/02/2011

Walker, A.L., Roach, J.K. & Hanna, J.M. (1981), How to use adding and calculating machines.