What Business Financial ILLITERACY Looks Like – Part 2

Categories: Business
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About Course

“You have to know accounting. It’s the language of practical business life… double entry bookkeeping was a hell of an invention.”
Charlie Munger, American billionaire investor, businessman, and former real estate attorney

This mini-course reveals the major knowledge gaps & misleading beliefs of the real-life PNG SME operations of individually owned PNG SME’s and MSME’s that I’ve personally come across amongst modern, ambitious & highly educated Papua New Guineans who are financially ILLITERATE.

Meaning, you:

⊗ Don’t keep proper business records

⊗ Don’t invest in proper and accurate bookkeeping, accounting and tax compliance in your business operations 

⊗ Don’t use the financial statements of your business to track the progress of your business and intentionally plan for financial success.

This course aims to educate you on the basic business finance management knowledge that are lacking in many PNG SME owners who run their small business formally by:

  • Registration with the IPA
  • Getting the related TIN Certificate, and
  • Opening at least 1 business bank account with a commercial bank in PNG

It has become obvious to me that most PNG SME & MSME owners do not know HOW & WHY the above formal business registration process ties into business money management to track the financial progress and success of the business.

In other words, you don’t know how keeping business records, doing bookkeeping, and implementing an accounting system in your small business operations is essential to track business progress, and plan for financial success.

The course is also suitable for aspiring business owners who have big dreams for their small business idea. It can be used as a money management roadmap to start that journey on the right foot!


Disclaimer: This Online Course is for general & educational purposes only! Please seek professional advice for your specific circumstances.


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What Will You Learn?

  • Read the topics but replace "You Don't" with "You Will"!

Course Content

You don’t really understand how your IPA registration decision controls:
Learn the 2 business entity structures an individual biz owner can chose to do business activities Apply the lesson to your long-term business goals and aspirations See why a money management strategy is crucial to track business progress & success Understand your tax burden and benefit of paying individuals for who don't have a legit business

  • Your business dreams
  • Your Money Management Strategy to Track Business Progress & Success
  • Your Yearly Tax Responsibilities
  • Your Tax Status for Paying Unregistered Businesses

You don’t know the basic tax responsibilities tied to your TIN registrations

You don’t Understand the Real Use of Business Bank Accounts
In Progress!

You don’t know how to prepare for the creation of financial statements for your business
In Progress!

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