Acca releases financial guide for entrepreneurs

Cape Town - ACCA (the Association of Chartered Certified Accountants) addresses the financial literacy skills gap in South Africa with a new guide for anyone starting their own business, new to financial management or simply seeking to improve their knowledge.
 
Whatever the force that drives South African entrepreneurs to get their ideas off the ground, the fact remains that there are many obstacles that they will have to overcome.

Financial management is at the heart of running a successful business and remains a major challenge for many business owners. In many instances, entrepreneurs are not equipped with the skills and knowledge needed to make informed and effective decisions about their financial business model.  

ACCA has addressed the issue through a new guide, "Financial management and business success - a guide for entrepreneurs", designed to help small businesses understand the importance of financial literacy and guide them through the basic elements. Understanding financial information is vital for offsetting this risk as it reveals the early warning signs of impending problems.

The guide stresses the importance of business planning at every stage of business life, helping to assess and identify opportunities directly, and avoid mistakes through applying correct financial knowledge.