Community Development Sessions December 2021
On 3 December 2021, our faculty members (FMs) participated in online community development sessions organized by the community development team of Binus University. The participants of these sessions are MSMEs (micro, small, and medium enterprises) owners. The topics delivered were:
- Internal control, by Rosaline Tandiono
In this session, the facilitator explained the objectives of internal control: to safeguard assets, to ensure that assets are used for business purposes, to ensure the accuracy of financial information, and to ensure that employees adhere to the company’s rules and policies. Having an appropriate internal control can prevent fraud from happening.
- Digital accounting cycle, by Valentina Tohang
The participants were introduced to the digital accounting cycle using one of the accounting apps. By using this apps, businesses can keep track of their assets, and have a better financial reporting to help them in making various decisions.
- Cash management, by Amelia Limijaya
Cash is essential for any businesses, therefore it is essential to manage it properly. In this session, the facilitator explained the importance of cash flows statement and cash budget in helping businesses manage their cash optimally.
- Profitability analysis, by Yanthi Hutagaol
Besides cash, it is also important for businesses to assess their performance in terms of profitability. In this fourth session, the participants were introduced to several tools that can be used to evaluate the profitability of their business.
- Fintech for small business, by Ikhsan Modjo
Finally, this last session covered the topic of fintech for small business, particularly the different stages of financing: start-up financing stages, seed stage financing, early stage financing, later/ expansion stage financing, and IPO.
