Latest News

Training on Basic Accounting for Savings and Credit unions (SCUs) and Microfinance Institution (MFIs

2010-08-26

BOL-ADB “Catalyzing Microfinance for the Poor Project” (Japanese Fund for Poverty Reduction 9095) contracted EBIT Consultancy Co., Ltd., of Lao PDR to provide Training on Basic Accounting for Savings and Credit unions (SCUs) and Microfinance Institution (MFIs) for BOL Officials in the Lao PDR during 19th-23rd July 2010, hold in the Lao Women Union Training Center, Vientiane Capital, Lao PDR.
Objectives of the Training

The training objectives are to:
o understand basic accounting principles and their application to microfinance
o understand the use of accounting records relevant to microfinance
o understand the nature of chart of accounts for MFIs and SCUs
o review the purpose and components of financial statements relevant to microfinance
o understand the accounting treatment of grants
o practice the accounting cycle

Training of Contents

This training was held for 5 days period from July 19th to July 23rd 2010. The key agendas of the training were included:
o Definition and Role of Accounting
o Accounting Principles
o Cash versus Accrual Based Accounting
o Chart of Accounts
o Making Accounting Entries
o Trial Balance and Adjustments
o Financial Statements
o Accounting Treatment of Grants
o Accounting Cycle