The Department of Trade and Industry Rizal Provincial Office (DTI-Rizal) through Negosyo Center Binangonan, conducted a webinar on Basic  Business Record-Keeping last 14 June 2021 via Zoom and streamed via the DTI-Rizal Facebook Live.

Business Counsellor Jerome Montealegre of Negosyo Center Binangonan explained that entrepreneurs had overlooked the importance of record-keeping. He likened it to a game where no one is recording the score of who is losing track in the process, who’s winning, and who’s not.

Ms. Sharon F. Dioco, Business Development Division Chief of DTI-Rizal, gave her opening remarks. She made a point that this webinar, being part of the “new normal”, is the manifestation of DTI’s commitment to serving micro, small, and medium enterprises (MSMEs).  She further stressed the importance of record-keeping to see if a business is gaining profit or having losses.  She also reminded the public to stay healthy and practice basic health protocols in as much as we are still in the midst of a world crisis.

Prof. Ernie Tano, a member mentor of the Philippine Center for Entrepreneurship and Dean of the College of Accountancy of the University of Rizal System Binangonan Campus, led the discussion. His presentation focused on defining a simple equation: Revenue – Expenses = Profit or Losses. He also discussed more technical accounting methods/terms that, if done and understood correctly, would give a better picture of how the business is doing. Questions from viewers were also addressed after the presentation.

Ms. Marlene De Luna, Senior Trade and Industry Specialist, closed the activity by expressing appreciation to Prof. Tano and the viewers. She encouraged the viewers particularly the MSMEs and the general public as well to take part in the upcoming activities of DTI.♦

Date of Release: 22 June 2021