Finding and selecting an accountant of the right standard and quality for your business can be so demanding and time consuming if you have no idea of what it is that you are looking for in accounting firm. Over time, the role of accountants in mall businesses become more obvious as most business owners that I [...]
Key accounts management strategy is what most companies that are struggling to get and retain profitable customers need in order to turn the business into a profit making venture. In this fierce competitive business environment of today, strategic stance is the key to any successful venture. Customer relation management (CRM) is not an exception. You [...]
What is a business as a question might sound silly. But, accounting and business studies teachers will be in a better position to tell how difficult it is to provide a comprehensive answer to this seemingly simple question. I can tell from the perspective of being both a business studies teacher and accounting teacher before [...]
Cost management are those calculated activities that an organization performs in the bid to reducing cost. Traditional management accounting system has been accused of being a cost containment process whereby managers of divisions work towards meeting the standards as contained in the budget. Inherent wastages and inefficiencies that are within are traditional cost processes are [...]
Elements and characteristics of strategic management accounting are those features that makes strategic management accounting uniquely different from other forms of accounting (managerial accounting and financial accounting). Before proceeding with the discussion of the elements of strategic management accounting, it will be helpful if a working knowledge of what a strategic management accounting is. Hence, [...]
Human resource management are those strategic interrelated actions that are taken by a manager with the sole aim of managing an entity’s most valuable asset –the workforce. Human resource management goes by many names including the following: human capital management, HR system, personnel management, etc. The management of the working population of a company is [...]
Who is a manager is the topic of a seminar that I recently attended on management and management functions in Spain last summer. The question seem simple but a deep reflection quickly shows that being a manager is more than a title given to certain class of people in corporate ladder. This article critically discusses [...]
Planning shouldn’t be a very difficult term to explain as many academics and professionals have made it look. We all engage in one form of planning or the other on a daily basis without even realising what it is that we do. Planning as far as we live is one function that we cannot avoid. [...]
Functions of management and what managers must do in order to stay afloat in today’s highly competitive business world has dramatically shifted from the traditional management functions as contained in most management textbooks in the market. Huge changes have taken place in the field play of business-TIKING. Business-TIKING is a new synonymous word replacing politicking [...]
Accounting firm insurance is a necessary evil that every professional accountancy firm must have else, settle in limbo. Accounting firms in recent time are adding more business line to their range of services making their business risk exposure increase at an exponential rate. The traditional business lines of auditing and consulting with narrowed focus was [...]
Financial accounting is that branch of accountancy that seeks to keep record of the financial activities of a company using specified standards and legal requirement. At the elementary level, it is believed to revolve around ‘debiting and crediting’ items. You debit the receiver and credit the giver. Financial accounting function includes the preparation of financial [...]
Motivating accountants and other finance professionals has never been as important as it is now as the whole world needs more motivated accountants and financial management experts to tackle the fierce financial challenge that is looming in the business world. Professional bodies are busy asking serious questions regarding accounting ethics, governance and business ethics. The [...]
