Project Everest

Accounting Workshop 2

Last night we hosted the second part of our Accounting workshop, focusing on the double entry accounting system, the income statement and the cash flow statement. Poor weather conditions meant that we had lower attendance, but the participants that did come gave very positive feedback. We found that the double entry system was the most challenging concept in this workshop and required more time and attention. Fipe, who has now attended 3 of our workshops, told us that she has already started implementing her learnings and is now tracking all of her revenues and expenses.

Georgia Jan 16, 2018

So sad I couldn't attend the workshop in person! Good to hear that there was positive feedback though and especially that Fipe attended again! What a sweetheart she is.

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William Lee Jan 21, 2018

Awesome to see some financial accounting being incorporated. Financial data is something that SMEs lack, and one of the core reasons why microfinancing institutions cannot value risk properly (thus charging very high interest rates). If you were able to leverage existing free accounting software and help these clients manage their accounts properly, you would be able to provide microfinancing institutions with this data which would help lower the risk premiums associated with current lending models (see crowdicity post below for the full idea).

From my understanding, SoCon in Fiji also work closely with SPBD, a microfinancier. Could a possible idea be to work closely with Fipe and help track her accounts digitally, with the end goal of seeing if this data can help value risk more appropriately on SPBD's end?

Let me know if anything is unclear or have any questions

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