Archives for February 2013

HOW TO BECOME A FORENSIC ACCOUNTANT

The continuous rise in accounting fraud and other traditional frauds  have recently placed high demand in the services of forensic accountants and their services. This increased demand for qualified accountants that specialises in investigative aspect of accounting has opened up doors of opportunity for those that can combine accounting and fraud examination principles and techniques. […]

ONLINE ACCOUNTING DEGREE IS THE BEST OPTION FOR ENTREPRENEUR

Online accounting degree is one of the best and easiest options for entrepreneurs to get the all important accounting skill that is needed to be successful in managing businesses to greater and enviable height. Research has shown that successful entrepreneurs are those that can tell you the destination and source of every penny that comes […]

WHAT IS STRATEGIC BUSINESS ANALYSIS?

Strategic business analysis are those actions and decisions made by management while trying to understand the impact of strategic events like: introduction or development of new product line, setting up a factory in a new location, employing key staff, selecting organizational structure, investing in new technology, managing risks, complying with relevant laws and regulations, implementing […]

WHAT IS AUDIT RISK ASSESSMENT?

It is no longer news that risk based approach to auditing has come to stay. Risk based auditing is the concept of basing the overall auditing procedures on the foundation that is built through the application of audit risk assessment and procedures.  We all know that the aim of auditing any subject matter is to […]

What is Management Accounting Control System?

Management accounting control systems (MACS) is the collective processes that helps in fine tuning the best method of managing complex variables including managers and employees. The primary aim of MACS is to supports the application of underlying procedures, processes and documentations within a given enterprise in such a way that results are maximised. Management accounting […]

Management Accountant’s Role in Business Implementation Strategies

The role of Management Accountants in the development and implementation of strategies in businesses have long been identified and utilised by successful businesses to gain unfair competitive advantage. Gone are the days when management accountants are only called upon when the need for number crunching arises. Today, accountants are business professionals that add immense value to the overall worth of a business.

WHAT IS SENSITIVITY ANALYSIS?

In this article, an attempt is made to provide an answer to the question; what is sensitivity analysis in a very simple and non technical manner. An all encompassing approach is taken to accommodate people of different understanding of the subject matter, so, if you are new to the field of accountancy and you wondering […]

ACCOUNTANTS AND THE USE OF FREE ACCOUNTING SOFTWARE

Accounting software is a set of codes that recognises basic accounting principles when items are entered into the interface that is provided by the developer of the software. Sage accounting software for instance uses what is called nominal code to identify line items in such a way that you don’t have to understand the basics […]

WHAT VALUE DO ACCOUNTANTS ADD TO SMALL BUSINESSES?

The value of a small business largely hinge on the quality of business advisors that input into the decision making process of an organization. An accountant being the professional finance communicators that fluently speaks the language of businesses all over the world knows businesses more than all other business catalysts. The modern day accountants do […]

HOW TO MANAGE PRIVACY RISK IN CLOUD ACCOUNTING

There is no doubt that cloud accounting has begun to find its way into the heart of many board members of corporations. This embracement of outsourcing a company’s accounting services to vendors has brought considerable privacy risks with it that needs to be dealt with if a company is to survive. I am not going […]

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