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Entrepreneurship Module: Bookkeeping

Have you ever dreamed of becoming the next multi-millionaire? If you’re thinking that winning the lottery is the only way to become one, well, think again. It is not chance that gives you millions, instead being a millionaire is a result of hard work and determination. Starting your own business is a good beginning towards fulfilling your dreams.

You may often hear the word entrepreneur and entrepreneurship. But what do these terms mean? You may refer to an entrepreneur as the person managing the business and entrepreneurship as the business venture. Some may say there is no difference. So, what does this module provide you towards reaching your dreams?

1. It outlines the concepts and basic principles, and processes of developing a business plan.

2. It helps you understand the environment and market in your locality as a factor in developing a business concept.

3. It allows you to experience starting and operating your own business.

Substantial knowledge of entrepreneurial principles and processes is important as this increases the chances of making your business successful. In this module, you are guided with a set of learning parts that will help you understand the underlying principles of entrepreneurship.

In this module you will learn how to record business transactions, prepare journal entries, post them to the general ledger, make some adjustments if necessary and prepare trial balance report. This is your tool to keep track of the operations of your business.

This module is divided into two lessons:

  • Lesson 1 – Performing Key Bookkeeping Tasks
  • Lesson 2 – Identifying where there is profit or loss for a business

After reading this module, you should be able to:

1. Understand the basic concepts of bookkeeping;

2. Apply the skills by performing key bookkeeping tasks; and

3. Identify whether the business is profitable or not.

To achieve the above objectives, it is suggested that you have to do the following:

  • Read and understand the texts carefully.
  • Follow the directions and/or instructions in the activities and exercises diligently.
  • Answer all the given test and activities

Entrepreneurship Quarter 2 Self-Learning Module: Bookkeeping

ENTREP12_Q2_M10_BOOKKEEPING

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Are you taking the March 2022 National Qualifying Examination for School Heads (NQESH)?

Join this year’s review sessions and let us equip you with the knowledge to hurdle the difficult test that will be your passport towards your dream of becoming a school head to fill the many vacant Principal I items in the country.