Tutors will have to play catch up with a number of subjects due to the disturbances from the Covid-19 pandemic. We look at one subject which can assist tutors to help students catch up quickly and the subject is accounting. For beginners, the subject is introduced the same way be it at form 1, form 3, A level, undergraduate or post graduate level.

Traditional Approach

The most common way to teach accounting is to start from the bottom and build upwards. Debit/Credits, T Accounts, Journals and ledgers, Trial balances, Profit and Loss then Balance sheet and cashflows. Key accounting concepts are also introduced during the course including accounting standards.

For starters, the bottom up approach can be confusing and may take ages for students  to appreciate what exactly they are doing and why.

Disruptive Approach

You start with the end product (financial reports)

Showcase the set of final financial statements. The Profit and Loss, Cashflow, Balancesheet and accompanying notes used for external reporting .

Showcase the set of management accounts used for decision making and the various components.

Print hard copies and bound them in book formats. Students will constantly refer to the books throughout their studies.

Computerised Final Accounts

Students should appreciate how the accounts are prepared and tutors can utilise simple accounting softwares such as Pastel and demonstrate source document inputs and running reports.

Accounting visualised

A visit to the stock exchange will help students to appreciate how companies raise funds. How the stock exchange  works, getting a feel of stock share certificates and interviewing investors and stock brokers. An important output is where do equity on balance sheet emanates from?

Balance sheet visualised

Help students appreciate components of a balance sheet such as:

Assets: Physical buildings, equipment, vehicles, inventory examination. Take photos of assets and let students create own balance sheets.

Liabilities: Take students through liabilities reviewing a sample of reports, conducting interviews and referring to published financial statements.

Profit and loss account Visualised

A visit to a local retail shop, tuckshop and others and observe operations, how they are recording transactions and creating records will help. How the Profit and Loss links up with Balance sheet etc

They should have a set of a trial balance and appreciate its importance, how it’s linked to other ledgers and accounts.

They can be asked to create own personal financial statements, or help  family members running businesses.

Linking Financial Reports with Source Documents

The last stage is an exercise of linking the final accounts with the source documents.

This is back to Debit and Credit concepts  linking it with the final accounts.

T accounts preparations and appreciating the big picture. By referring to accounting system financial reports print outs.

Journal and Ledger entries with students linking them to their copies of the big picture of final accounts.

Advantages

The accounting course can be completed in record time and this can even be slicing 70% off the traditional approach.

Students will complete the course with practical skills and for those interested in pursuing the course further, they would have got a great foundation.

The traditional approach wastes a lot of time with too much theory which may make it difficult for students to appreciate why they will be doing the course and what exactly they will be doing.

Tours can help reduce study time by a considerable amount. Images of a balance sheet likely to stay longer in the minds of students than having a tutor standing in front of a class and delivering lectures.

In future we will look at more subjects such as Mathematics, Economics, Business Management and others.

We hope you find this useful.

Farming is perhaps the most important profession in the whole world yet the most underrated. One way or the other we all depend on the farmer for survival as most of our food is produced by farmers directly or indirectly. Globally farming is a multi-billion-dollar industry contributing to the GDP’s of many countries. Before we talk about billion-dollar levels let us start at small scale farming level were most farmers are in Zimbabwe.

Emmanuel D.N Dube |ZBIN Agronomy correspondent

A remarkably interesting topic came up last week in one of our ZBIN Agric groups when a farmer was seeking advice on how to grow a certain crop. So many views came up, various schools of thought came up some toxic and some helpful. In this article we shall cover a few basics neededfor one to run a farming enterprise successfully.

1. Have interest.

Nothing as joyous as getting paid to do what you have a passion for. Having a strong interest in farming usually has a positive effect on production and success of the business.

• Farming is a not a get rich quick business

Ask any farmer out there who has made it they will tell you that the rewards take a while to come to fruition for some its months and some years. There are so many variables that can affect your plan resulting in losses. Yes risks are there in farming too hence the need for careful planning. You are not likely to get rich quick in farming.

• Planning

Perhaps one of the most important tasks in farming is planning. Without a solid plan you have planned to fail. Before embarking on any farming venture you need to sit down and look at the numbers and viability. Most small-scale farmers will just grow crop X because their neighbour is doing it and they heard it makes money, “Heard”, is the key word there. It is crucial to carry out your own research before embarking on any farming venture.

• Technical expertise

Very few small-scale farmers appreciate the need to seek the services of a technical expert to help them get the best yield and value from their crop. I have come across a commercial farmer who is growing blue berries for export, he has agronomists fly in from South Africa every fortnight to come and check on his crop because he values his business. Ok maybe you are not a commercial farmer and cannot afford such services, well most seed houses, Agro-dealers and even the government have free extension services which you can put to good use. Locally we do have agronomists who are more than capable to assist at a very affordable price. Perhaps it is important to look at it from a business point of view. In conclusion if you do not know how to do the job employ someone who can and pay them well to get good results.

• Funding

If you do not have adequate resources do not grow it, that is what I tell some of the farmers I come across. It is pointless to labour so hard with inadequate resources and produce 30% of what you should have had the resources been available. Rather you concentrate on growing a small and manageable area and get the best quality and yield and grow from there.

• Do not bite off more than you can chew

Like any business do not commit to growing more than you can manage. This goes back to point number 3 of planning. A lot of companies are now into contracting farming and will offer you seemingly lucrative deals, do not hasten to put pen to paper look at the plan carefully. Ask yourself, Do I have the labour to manage the crop? Do I have the equipment?

• Loans

These come in various shapes and forms and you need to be incredibly careful not to get trapped in these although they can be a good foot stool to get your enterprise up and running. Some organisations are offering tractors and combine harvesters on a long-term loan basis. Honestly, you do not need a combine harvester if you a growing less than 20 ha of grain crop its cheaper to higher the machine every time you need it. Engage a qualified financial expect to help you decide and make an informed decision.

Whether you are growing your crops in your back yard or have an entire farm it is important to look at farming as a business and not just as a hobby. Once this is applied across the board you are on your way to successful farming.

Emmanuel is a qualified Agronomist and development practitionerwith more than a decade’s experience working in the agri-business industry and development sector. You can contact him on edndsep@gmail.com or whatsapp on 0783495396