I AM NOW A QUALIFIED ACCOUNTANT – WHAT NEXT?

A newly qualified ACCA accountant came to me last weekend and said “I am now a qualified accountant, what next?” I told him I will get back to him shortly. But on second thought I said “put your-self in the driver’s seat of data driven economy”. To be relevant as a qualified accountant in this […]

Tips on Doing Business without Government Help during Recession

Research suggests that the people who survive disasters are the ones who locate the life jackets and fire exits, followed safety drills or paid attention to cabin crew pre-flight workouts. It is a sad reality that Nigeria has found itself in Stagflation (Stagnation in economic activities plus persistent increase in prices). This unfortunate situation has […]

Accounting Cycles- Preventing Fraud by Understanding Accounting Cycles

Introduction Forensic Accountants in their bid to successfully fight fraud often falls back to exploring accounting cycles in order to understand how fraud can be perpetrated. This is to say that for one to understand how fraudulent activity is carried out, one must understand the accounting cycles in and out. This knowledge is acquired both […]

Meaning and Uses of Branch Accounting

What is a Branch Accounting? A branch accounting is a system of accounting where branch transactional activities are kept separate from each other.   There are two methods of branch accounting. In the bid to prepare records that provides insight into the activities of the branches of a business organization, management have a choice of […]

Advantages and Disadvantages of Using Debt Factoring

Advantages and Disadvantages of Using Debt Factoring Advantages and disadvantages of using debt factoring must be considered before a decision is made on whether to use it or not. This is very important as doing this analysis will provide management with useful information for economic decision making. The advantages of using debt factoring must outweigh […]

Fundamentals of Trial Balance

This article on the fundamentals of trial balance is in response to the question asked by a Facebook fan of AccountantNextDoor on our page. ‘Tell me more about trial balance’ was the question.   What is a Trial Balance? A trial balance is a bookkeeping tool used by accountants to test the equality of Debt […]

Accounting Treatment of Borrowing Costs in Accordance with IAS 23

Accounting treatment of borrowing costs is the subject matter of IAS 23. IAS 16 which deals on property, plant and equipment (PPE) made provisions surrounding how tangible non-current assets (TNCAs) are treated.   It among other things states that borrowing costs MUST be included in the initial cost of an item of property plant and […]

Hybrid Accountants | How to Become a Hybrid Accountant

Hybrid accountants are finance professionals with top notch accounting knowledge and in depth commercial and operational awareness backed by the power of Information Technology.   Hybrid accountants are increasingly getting involved into more and more operations of an organization. Hybrid accountants are next generation accountants with perfect blend of arrays of both hard and soft […]

Strengths and Weaknesses of Different Budget Systems

Decision makers need to understand the strengths and weaknesses of different budget systems so as to ensure that optimal decision is being taken at all times. Organizations will not improve if budgets are set in the wrong way.   A major mistake that is made by management in the area of budgeting is that they […]

Dealing with What Gets Measured Gets Done Syndrome

What gets measure gets done is a popular phrase amongst performance management experts. Managements and staff will tend to concentrate on only those aspects of a business that they know are being measured and monitored. Examples of when this irresponsible act lead to dysfunctional behaviour by managers abounds in practice.   This issue of what gets […]

What is Blockchain? Is it Another Cloud Computing or Big Data Concept?

Anyone who has been following trends in technology and finance for a while now would be wondering if this blockchain would be yet another cloud computing or bigdata or even the internet of things.   Fintech engineers are yet at it again to confuse us a bit more or rather give us concepts to argue […]

Planning your PhD in Accounting and Finance

Planning your PhD in Accounting and Finance can be so frustrating if one does not follow a systematic approach from the very beginning. This article is in response to the question asked by one of our followers on Facebook page. Most of the tips in this article on planning your PhD in Accounting and Finance […]

Nightmare of Accountants and how to avoid them

Nightmare of Accountants and how to avoid them Nightmare of accountants can be anything ranging from family issues to simply not getting the accounts to balance. In today’s post, I will be sharing my personal experience on those things that gives me nightmare as an accountant. 6 common accountant’s nightmare and how to fix them […]

10 Factors Affecting Transfer Prices in Multinationals

Today we will be looking at 10 factors affecting transfer prices in multinationals. We all know that transfer pricing can be abused by mutational in their bid to evade taxes (or avoid taxes) thereby improving profit for their owners. But there is a legitimate strong case for the use of transfer pricing especially in the […]

Trending Small Business Cyber Security and Awareness Skills

Small business cyber security and awareness skills have recently been identified as a critical success factor for small businesses. This world of Internet of Things (IoT) that we now live in has created massive threats that can easily prevent a business from achieving its objectives if not properly managed.   It is common knowledge that […]

DIY Small Business Risk Assessment and Evaluation Process

DIY small business risk assessment and evaluation is when small business owners evaluate their businesses through the lenses of an auditor. I have come to realise that seeing your business from the perspective of an auditor helps you see things differently and make decisions differently. Depending on the objective of the audit engagement, auditors’ primary […]

How to Deal With Siege Mentality as an Accountant

Siege mentality of an accountant is what most accountants feel whenever people turn against them even when what they are doing is for the good of all. The fact that accountants are known for being frugal and always looking out for ways to save cost makes most people tend to view all that the accountant […]

23 Functions and Duties of Accounting and Finance Department of SMEs

Accounting and finance department of small businesses have evolved over time to become the hub of small businesses. A quick look at the functions and duties of accounting and finance department of SMEs will give you insight of what has become of the accounting profession. A functional accounting and finance department of a small business […]

10 SMALL BUSINESS SOURCES OF FINANCE IN TODAY’S INFORMATION AGE

  Small business sources of finance are those mediums through which a small business can cheaply borrow money that are used for investing purposes rather than simply paying off day to day charges just to keep afloat. The aim of this article is to discuss those small businesses sources that work in this information age. […]

Setting up your accounting department as a small business accountant

I was pleasantly surprised to know how daunting it is to set up accounting department when I first became head of accounting and finance department of a small business. Setting up your accounting department as a small business accountant does not have to be very difficult if the right tools and information are at our […]

Internet of Things (IoT) or Internet of Businesses (IoB)

Wait a minute, Internet of Businesses? Yes, am sure you must have heard of Internet of Things (IoT) and how the whole world will go to its knees if the security professionals don’t step up their game to match that of the crackers or hackers. There will be yet another ‘black hat’ convention in the next […]

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